| Intel (USD 20.24 ; 5.14% ; INTC ; INTC.O)
On Tuesday, Intel is expected to deliver 2Q EPS of $0.43 compared to $0.2 a year earlier on sales of $10.2bln vs $8bln.Recently, Infineon Technologies could reach a deal to sell its mobile-chip unit to the Co for $1.4bln. From a technical view, the stock bounced off from a MT support level around $19 last week. Nevertheless, the price is still capped by a major downside resistance since last April. Below $21.2, look for a pullback to $19 and even to $18 as possible Google (USD 467.49 ; 6.37% ; GOOG ; GOOG.O)
On Thursday, Google, a global technology giant, may post 2Q EPS of $6.5 compared with $4.66 a year ago on sales of appx. $5bln vs $5.5bln. Last week, Chinas government confirmed it renewed the Co's Internet operating license in China, according to Xinhua News. Technically, the stock price gapped up in the latest session and is currently testing its resistance of the declining 20D MA. In which case, a ST consolidation cannot be ruled out before any decisive moves. JP Morgan Chase (USD 38.85 ; 7.68% ; JPM ; JPM.N)
The same day, JPMorgan Chase could release 2Q EPS of $0.7, in line with the same period last year. Earlier, the Co completed its purchase of the assets of RBS Sempra Commodities business for $1.6bln. From a chartist view, the shares might be forming a "double-top" pattern in the medium term with the neckline around $37.2. The "clear" breakout of this threshold should trigger a new leg down to $31.7 and $29.8 in extension. Novartis (CHF 52.25 ; 3.26% ; NOVN ; NOVN.VX)
Thursday in Europe, Novartis is expected to publish 2Q net income of $2.6bln compared with around $2bln a year earlier on revenues of $11.5bln vs $10.6bln. Earlier this month, the Co would seek approval to widen the use of its Afinitor cancer drug. In addition, the stock price was upgraded to "overweight" from "equal weight" at Morgan Stanley. Graphically, the shares rebounded slightly but remains under pressure below $53. A re-test of the horizontal support at $50 should be in sight, if breakout, see further downsides towards $47.3 General Electric (USD 14.95 ; 5.88% ; GE ; GE.N)
On Friday, General Electric may announce 2Q EPS of $0.27 compared to $0.31 a year ago on sales of $38.3bln vs $39bln. Recently, the Co won appx. $300m contracts in Oman. The Co's price target was cut to $19 from $20 with a "hold" rating unchanged at Deutsche Bank. Technically, the stock is still under pressure below a key resistance level at $15.2 and also remains capped by a downside 20D MA. Hence, a further pullback is more likely to $14 after a ST pause. Selection of those events which may affect the stock prices of international Large Caps |
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