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Money

Ericsson goes into tomorrow’s earnings riding a lot of momentum

For  the second quarter Ericsson (ERIC) reported a 43% positive earnings surprise. Could the company surprise again tomorrow? Analysts are looking for the company to report third quarter earnings on October 21 of 16 cents a share. That would be a huge improvement of 184.2% from the third quarter of 2019. But given Ericsson's momentum during the quarter, I wouldn't rule out the possibility of a solid beat above estimates driven by global wins with telecom companies for 5G network equipment..

Stimulus optimism rally fades as stocks go into last hour of trading

The Standard & Poor's 500 was up by as much as 1.42% at 1:48 p.m. New York time today on hope that House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin would agree on a stimulus deal by Pelosi's deadline of the end of today for passing a bill by the November 3 elections. Pelosi and Mnuchin were scheduled to talk by phone today at 3 p.m. (Mnuchin is traveling in the Middle East.) Those hopes were buoyed when Pelosi walked back her deadline, saying that as long as long as there was an agreement on the table, the deadline for an actual bill was the end of next week. But as stocks moved into the last hour of trading they gave back much of those gains.

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