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Jan. 19, 2021, 9:04 a.m. EST

This Week Will Be About More Than Inauguration Day Alone

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Jan 19, 2021 (IAM Newswire via COMTEX) -- Since 2020 March lows, the market saw a nothing short of extraordinary record-shattering rally. But how much higher can it go as COVID continues to rage across the US and Europe? That answer will become a bit clearer as traders have returned from the long holiday weekend and equity markets have reopened. This week will be defined by the first days of the Biden administration and by another batch of corporate earnings reports.

On Wednesday, president-elect Joe Biden's inauguration ceremony will take place as a dialed-down event, due to the ongoing pandemic. Americans have been urged to avoid the city on the day, given the risk of violence surrounding the event. Last Wednesday, Airbnb /zigman2/quotes/222990650/composite ABNB -9.06% announced it would block and cancel reservations in the D.C. metro area this week, refunding guests and reimbursing hosts who already made bookings. Interestingly, the stock rallied nearly 6% upon the announcement. Marriott /zigman2/quotes/200170042/composite MAR -4.70% which has close to 200 hotels in the D.C. area and owns brands including The Ritz-Carlton said it would honor existing reservations, along with IntercontinentalHotelGroup /zigman2/quotes/204459500/composite IHG -3.24% , Hilton /zigman2/quotes/202780307/composite HLT -3.36% , Hyatt /zigman2/quotes/207542923/composite H -4.42% and Expedia-owned VRBO /zigman2/quotes/202291990/composite EXPE -3.44% .

Biden also said he aims to roll out 100 million vaccines in his first 100 days in office, which would significantly accelerate the pace of current efforts to counteract the pandemic. On January 20 [th] , Biden is seeking to sign about a dozen executive actions to address the pandemic, as well as a virus-stricken economy, climate change and racial equity.

One of this week's key earnings reports will come from Netflix /zigman2/quotes/202353025/composite NFLX -1.21% on Tuesday after market close. Last quarter's results showed disappointing signs that the skyrocketing user growth that Netflix enjoyed during pandemic was slowing down. The streaming giant missed even its own conservative third-quarter new subscriber guidance for the summer, adding just 2.2 million new members as opposed the 2.5 million the company had expected. For the fourth quarter, Netflix expects 6 million net paid additions to its streaming platform, representing another YoY decline after adding 8.8 million in the fourth quarter of 2019.

Netflix, while still the leader among U.S. streaming platforms when it comes to total users, has also faced increasing competition over the past year, especially from relative newcomer Disney+ /zigman2/quotes/203410047/composite DIS -3.31% . Disney's streaming service had 86.8 million paying subscribers as of December 2 [nd] , compared to the more than 195 million Netflix reported at the end of September. Disney also revealed it would be raising the monthly price of its streaming subscription starting in March, suggesting the entertainment giant believes it has the user demand and pricing power to command higher fees. Netflix needs to prove it can maintain its status as the king of streaming among this intense competition.

Wall Street expects earnings $1.38 per share on revenue of $6.61 billion, compared to the year-ago quarter when earnings were $1.30 per share on $5.47 billion in revenue.

Also, on Tuesday, Tuesday: Halliburton /zigman2/quotes/210488727/composite HAL -1.08% , Charles Schwab /zigman2/quotes/201281754/composite SCHW -2.08% , Bank of America /zigman2/quotes/200894270/composite BAC -1.24% and Goldman Sachs /zigman2/quotes/209237603/composite GS -0.87% will report their earnings before market open.

Morgan Stanley /zigman2/quotes/209104354/composite MS -1.82% , US Bancorp /zigman2/quotes/206934678/composite USB -2.23% , Citizens Financial Group /zigman2/quotes/205410375/composite CFG -4.70% , Bank of New York Mellon Co. /zigman2/quotes/200171276/composite BK -1.90% , Procter & Gamble /zigman2/quotes/202894679/composite PG -0.85% , UnitedHealth Group /zigman2/quotes/210453738/composite UNH -1.01% will report before market open whereas Alcoa /zigman2/quotes/200686102/composite AA -6.03% and United Airlines /zigman2/quotes/205037281/composite UAL -5.79% will report after market close. Wall Street expects United Airlines to lose $6.58 per share on revenue of $3.46 billion. This compares to the year-ago quarter when earnings came to $2.67 per share on revenue of $10.89 billion. United had some $24 billion of capital expenditure commitments as of Q3 so amid the decline in travel demand, its aim is to reduce that spending as much as possible. Investors will be looking at such economic improvements to justify the argument that UAL is better positioned than other airlines to survive this downturn.

Wall Street expects International Business Machines Corporation /zigman2/quotes/203856914/composite IBM -0.60% to earn $1.79 per share on revenue of $20.63 billion but what investors are really wondering is when will the real turnaround begin? Its cloud ambitions have promised to return value to shareholders, but shares still haven't regained even their pre-COVID levels while the rest of the market has seen record highs. Cloud leaders such as Amazon /zigman2/quotes/210331248/composite AMZN -3.24% , Microsoft /zigman2/quotes/207732364/composite MSFT -2.37% and Google /zigman2/quotes/205453964/composite GOOG -3.05% /zigman2/quotes/202490156/composite GOOGL -3.26% are seemingly too far ahead for IBM to catch up. The new CEO Arvind Krishna is tasked with elevating Big Blue into a leading cloud and AI position, while distancing the company from the legacy business. Investors want to hear progress on these fronts.

Truist Financial /zigman2/quotes/200481602/composite TFC -2.56% , Baker Hughes /zigman2/quotes/205323712/composite BKR -1.67% , Union Pacific /zigman2/quotes/209717171/composite UNP -0.72% will also report on the same day before market open and Intel /zigman2/quotes/203649727/composite INTC -4.42% will make its appearance after market close. Wall Street expects Intel to earn $1.10 per share on revenue of $17.48 billion, whereas the same quarter last year saw earnings of $1.52 per share on revenue of $20.21 billion. Intel shares have soared more than 10% Wednesday after the company confirmed that CEO Bob Swan will step down on February 15 and be replaced by Pat Gelsinger, the current CEO of VMWare /zigman2/quotes/209864107/composite VMW -2.20% . On several important chip development fronts, Intel has lost ground to rivals AMD /zigman2/quotes/208144392/composite AMD -5.20% and Nvidia /zigman2/quotes/200467500/composite NVDA -8.22% . On Thursday, it must show the right things to support the confidence that Gelsinger can turn things around and quickly.

The week will be closed on Friday with earnings from Kansas City Southern /zigman2/quotes/200211518/composite KSU -2.42% , Schlumberger /zigman2/quotes/201012972/composite SLB -3.06% and Ally Invest /zigman2/quotes/206227672/composite ALLY -4.01% who will all report before the stock market opens.

The inauguration may signal a dramatic shift and increase in government spending, but it remains to be seen whether hopes of a transformation can survive the reality of a narrowly divided Congress.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact:

The post This Week Will Be About More Than Inauguration Day Alone appeared first on IAM Newswire .

COMTEX_377901317/2618/2021-01-19T09:03:46

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$ 28.51
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N/A
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1.75%
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$ 40.98
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1.85%
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$15.99 billion
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N/A
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