This week saw a string of good earnings releases from particularly technology companies such as IBM, Intel and Apple delivering strong performance. Not all technology companies however shined with Nokia continuing its decline with its first quarterly loss in more than six quarters. Meanwhile, financial companies’ earnings have been mixed with Goldman Sachs missing estimates as the investment bank had a bad trading quarter, contrary to its rival Morgan Stanley which posted better than estimated earnings, making it the only major investment bank to show growth in trading revenue this quarter. Next week the earnings season continues at full speed. Monday Most important earnings releases are Anadarko Petroleum and Texas Instrument with the former company expected to show rapid growth in earnings compared to last year. Tuesday Watch out for LVMH Moet Hennessy Louis Vuitton, BP, GlaxoSmithKline, Deutsche Bank, UBS, Xstrata, Amazon.com, United Parcel Service and Ford Motor. Given the current European debt crisis earnings releases from Deutsche Bank and UBS are very interesting to watch. Wednesday Daimler, SAP, Banco Santander, ConocoPhillips, VISA, Boeing and Dow Chemical. Thursday Compagnie de Saint-Gobain, Siemens, Volkswagen, BASF, Royal Dutch Shell, BBVA ans Exxon Mobil. Especially Siemens is interesting from a macroeconomic point of view as this diversified industrial conglomerate is a good proxy on the economy. Friday Schneider Electric and Anglo American
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