The markets started the first day in May mixed. The Dow 30 closed lower by 84 after being down 300, the S&P 500 gained 5, and the Nasdaq 100 popped 63. Pfizer (PFE ) was the leader to the downside in the Dow, and the metals and mining sector (XME ) was one of the weaker sectors of the day losing over 1%.
Apple (AAPL ) is all anyone really cares about today as the company is due to report earnings after the close. Shares were higher by 2.32% going into the earnings release as analysts threw out their last calls for a bullish future. Investors will be focused directly on iPhone sales as chipmakers had reported weaker forecasts just a few weeks ago. The company is expected to have sold over 53 million iPhones through March which would be an increase of 4.4% from a year ago. This number is a downward revised number that was adjusted following the warnings from chipmakers. Revenue is expected to come in at $60.84 billion, with net profit of $13.68 billion, or $2.68 per share, according to Reuters. These numbers have also been adjusted lower.
Apple is not the only name reporting after the close today however. Snap (SNAP ) is expected to report a loss of 33 cents. Analysts will also be looking for new information about the companies new spectacles which launch on Thursday. Snap's original camera-glasses were nothing short of a flop that caused the company to write down a $40 million dollar loss on inventory they couldn't sell.
Boeing (BA ) shares were lower today as the company has announced plans to buy plane-parts specialist KLX for $3.2 billion in cash. The company has publicly been looking for new ways to increase output. They are currently have a several year backlog on many of their most popular models.