We’re now heading into the meat of the earnings season, and there’s plenty to be excited about. At least so says FactSet senior analyst John Butters, who is projecting earnings-per-share growth of 6.5% in the April-June quarter, and a pie-in-the-sky prediction of up to 9%.
The heaviest reporting will get underway Tuesday. Heading into Monday’s trade, though, iShares parent BlackRock, Inc. (NYSE:BLK) has hit the earnings confessional, and a few tech companies — including Microsoft Corporation (NASDAQ:MSFT) and Tesla Inc (NASDAQ:TSLA) — are making some headlines of their own.
Here’s what you should know heading into the fresh week:
BlackRock, Inc. (BLK)
BLK shares are listing lower on Monday morning following misses on both the top and bottom lines, though the damage looks limited early on.
BlackRock reported second-quarter earnings of $5.24 per share, much lower than the $5.40 expected by Wall Street analysts. Meanwhile, revenues of $2.965 billion also missed the mark, with the pros expecting $3.019 billion. That latter number came on the back with in-line investment advisory, administration fees and securities lending sales of $2.675 billion.
There was a little good news in that assets under management came to $5.689 trillion, up 16% year-over-year, to beat the analyst consensus. That was helped out by growth in its iShares line of ETFs, which now hold $1.5 trillion in assets.
BLK stock is down fractionally in early Monday trade, though still beating the market with 15% year-to-date gains.
Microsoft Corporation (MSFT)
Microsoft appears to no longer support Windows 10 updates to certain PCs.
A ZDNet report suggests that a whole slate of computers that are three or four years old will no longer have access to security fixes as the company turns its focus toward newer generations of PCs only.
The computers that sparked this are 2-in-1 PCs that were announced in 2012 and sold throughout 2014. Microsoft offered free Windows 10 upgrades to owners of these computers in 2015, plus the Summer 2016 Anniversary Update.
However, attempts to install the most recent Creators Update (version 1703) resulted in the following message:
Windows 10 is no longer supported on this PC
Uninstall this app now because it isn’t compatible with Windows 10.
The PC hardware in those computers is not compatible with the latest software.