31.07.2024 + FED interest rate decision today + Microsoft fails to meet expectations + AMD benefits from high demand + Mondelez with lower sales + Starbucks in turnaround? + Paypal exceeds expectations +

For the shares of Microsoft $MSFT (+1,09%) fell sharply in after-hours trading on Tuesday. Although the Group benefited from strong cloud growth in its fourth financial quarter, analysts had expected more. Revenue climbed by 15 percent year-on-year to 64.7 billion US dollars in the reporting period. Growth in the Azure cloud business amounted to 29%. In the Factset consensus, analysts had expected turnover of 64.4 billion dollars and growth in Azure of a good 30 percent. Net profit rose by 10 percent to 22 billion dollars. Earnings per share amounted to 2.95 dollars. The analysts' expectation had been 2.94 dollars. Microsoft has massively increased spending on data centers and other infrastructure in recent years in order to meet the growing demand for AI. The company announced that capital expenditure amounted to 13.9 billion dollars in the past quarter, after spending 14 billion dollars in the previous quarter. Compared to the previous year, however, investments rose by 55 percent. Microsoft shares lost 2.6 percent after the closing bell.

In contrast, the shares of Advanced Micro Devices $AMD (+5,31%) rose by 7.6 percent. The chip manufacturer benefited from high demand in the second quarter. Sales and profits exceeded expectations. Turnover rose to 5.84 billion dollars from 5.36 billion dollars in the previous year. Analysts had expected 5.7 billion in the Factset consensus. According to CEO Lisa Su, growth was driven by the data center business, where sales more than doubled and reached a record level of 2.8 billion dollars. For the current third quarter, AMD forecast sales of 6.7 billion dollars in the middle of the forecast corridor. Analysts had previously expected 6.6 billion dollars.

Mondelez $MDLZ (-0,83%) reported a 1.9 percent decline in global sales in the second quarter due to falling sales volumes. In organic terms, i.e. adjusted for portfolio changes and currency fluctuations, revenue rose by 2.5 percent due to price increases, as the food company announced. Growth is therefore slower than in some previous quarters. The share price was little changed.

The shares of Starbucks $SBUX (+0,07%). The US coffee house chain reported lower than expected sales in its third quarter due to the continuing weakness of consumption in the key US and Chinese markets. Profits also fell. However, the Group is seeing progress in its turnaround. According to the CEO, the initiatives to win back defecting customers and to make the stores more efficient are beginning to bear fruit. Starbucks has reaffirmed its outlook.

PayPal Holdings Inc. $PYPL (+5,3%) beat analysts' estimates of $0.98 in the second quarter with earnings per share of $1.19. Sales of $7.9 billion exceeded expectations of $7.82 billion.

Wednesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Heineken EUR 0.82

Quarterly figures / company dates USA / Asia

02:00 Samsung Electronics quarterly figures

12:30 GE Healthcare quarterly figures

13:00 Dupont de Nemours | Kraft Heinz quarterly figures

13:30 Boeing quarterly figures

14:00 Mastercard | T-Mobile US quarterly figures

22:00 Qualcomm | ARM Holding quarterly figures

22:05 Meta Platforms | Ebay | Qiagen | Allstate quarterly figures

No time specified: American International Group | Lam Research | KKR & Co | BorgWarner Quarterly figures

Quarterly figures / Company dates Europe

05:00 HSBC Holdings half-year figures

07:00 Lufthansa | Fresenius | Kion | Krones | Nemetschek Quarterly figures

07:00 Siemens Healthineers | Teamviewer | Safran | OMV quarterly figures

07:00 Banco Bilbao quarterly figures

07:15 Just Eat Takeaway | Telecom Italia quarterly figures

07:30 Adidas | Telefonica | Danone | Schneider Electric half-year figures

08:00 GSK plc | Villeroy & Boch Quarterly figures

08:15 Rio Tinto plc half-year figures

08:30 Siemens Healthineers Analyst Conference

09:00 KSB SE half-year figures | Teamviewer analyst conference

10:00 OMV Analyst Conference

11:00 Munich Re Natural Catastrophe Report 1H

13:00 Krones Analyst Conference

13:30 Fresenius SE Analyst Conference

15:00 Kion Analyst Conference

Economic data

• 08:00 DE: Import/Export Prices June Import Prices FORECAST: +0.2% yoy/+0.5% yoy previously: 0.0% yoy/-0.4% yoy | Employment June
• 08:45 FR: Consumer prices (preliminary) July PROGNOSE: +0.2% yoy/+2.4% yoy previous: +0.1% yoy/+2.2% yoy HICP PROGNOSE: +0.1% yoy/+2.6% yoy previous: +0.2% yoy/+2.5% yoy
• 09:55 DE: Labor market data July seasonally adjusted unemployment rate FORECAST: +15,000 yoy previous: +19,000 yoy Unemployment rate seasonally adjusted FORECAST: 6.0% previous: 6.0%
• 11:00 EU: Eurozone consumer prices (flash estimate) July Eurozone FORECAST: -0.2%gg month/+2.4% yoy PREV: +0.2%gg month/+2.5% yoy Core (excl. energy, food, alcohol, tobacco) FORECAST: +0.1%gg month/+2.6% yoy PREV: +0.4%gg month/+2.9% yoy
• 11:00 IT: Consumer prices (preliminary) July PROGNOSE: +0.3% yoy/+1.2% yoy previously: +0.1% yoy/+0.8% yoy
• 14:15 US: ADP Labor Market Report July Private Sector Employment PROGNOSIS: +150,000 jobs previously: +150,000 jobs
• 14:30 US: Labor Cost Index 2Q FORECAST: +1.0% yoy 1st quarter: +1.2% yoy
• 15:45 US: Chicago Purchasing Managers Index July FORECAST: 45.5 previous: 47.4
• 20:00 US: Fed, outcome of the FOMC meeting Fed funds target rate FORECAST: 5.25% to 5.50% PREVIOUS: 5.25% to 5.50%
• 20:30 US: FED Pk with Fed Chairman Jerome Powell