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FedEx, Micron Earnings – What you need to know in markets Tuesday



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "After the bell Tuesday, industrial heavyweight FedEx ( FDX ) and Micron chipmaker ( MU ) will release quarterly results. " data-response time = "15"> After the bell Tuesday, industrial heavyweight FedEx (FDX) and chipmaker Micron (MU) will release quarterly results.

<p class = "canvas-atom canvas-text Mb (1

.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" FedEx is often considered by investors as a reliable bellwether for global economic activity. In December of 2018, FedEx issued weak guidance and & nbsp; Investors and analysts are likely to pay close attention to what management says on the earning call in regards to heightened trade tensions . and how those issues are impacting FedEx's business. " data response time = "16"> FedEx is often looked at by investors as a reliable bellwether for global economic activity. In December of 2018, FedEx issued weak guidance and warned investors that the company was seeing continued deceleration internationally. The industrial giant cut its guidance again in March. Investors and analysts will probably be paying close attention to what management says on the earnings call in regards to heightened trade subsidies and how these issues are impacting FedEx's business.

<class = "canvas-atom canvas-text Mb (1.0em ) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" In addition, after a longtime partnership, FedEx announced this month it would no longer be providing express US shipping services for e-commerce giant Amazon ( AMZN ). Amazon has also been upgrading its in-house freight services. Though FedEx explained that Amazon was not a huge customer and only accounted for about 1.3% or total revenue in 2018 , investors will be curious to see FedEx fares in the longterm following that divorce. " data-response time = "17"> In addition, after a long-term partnership, FedEx announced this month that it would no longer be providing express U.S. shipping services for e-commerce giant Amazon (AMZN). Amazon has also been uping its in-house freight services. Though FedEx explained that Amazon was not a huge customer and only accounted for about 1.3% or total revenue in 2018, investors will be curious to see FedEx fares following the divorce.

Analysts polled by Bloomberg expect FedEx to report adjusted earnings of $ 4.83 per share on $ 17.8 billion in revenue

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Micron's report comes on the heels of rival Broadcom's ( AVGO ) & nbsp; announcement earlier this month warning investors & nbsp; that the US ban on Chinese tech giant Huawei and the ongoing It will probably cut into revenue by $ 2 billion. data response time = "19"> Micron's report comes on the heels of rival Broadcom's (AVGO) announcement earlier this month Huawei, a Chinese tech giant, will probably cut its revenue by $ 2 trillion.

Analysts are predicting that demand weakness around dynamic random access memory (DRAM) chips and NAND memory chips will likely weigh on Micron.

"We are reducing estimates for [Micron] to account for worse-than-expected [average selling price] trends (particularly for Server DRAM) and a drop in shipments to Huawei, [Micron]'s largest customer," Susquehanna analyst Mehdi Hosseini wrote in a note June 3. "We also expect to have negative FCFs for a few quarters. The key question is whether [Micron] could keep [operating margin] above the break even point. ”Micron is expected to report adjusted earnings of 78 cents per share on $ 4.68 billion in revenue, according to data compiled by Bloomberg.

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Heidi Chung is a reporter at Yahoo Finance Follow on Twitter: @heidi_chung . "data-response = "24"> Heidi Chung is a reporter at Yahoo Finance. Follow on Twitter: @heidi_chung

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