The last few weeks have been incredibly volatile in U.S. markets. Though major indexes have been trending upwards for the majority of 2011, last week saw a major blip in performance as commodities, namely oil and silver, took a nose dive bringing down equities across the board. The major sell-off was due to an unexpected jump in jobless claims, as well as a reasonably stronger dollar, which was then followed by an unexpected dip in unemployment, helping to correct markets from their tailspin. This week will have its sights set on the closing days of earnings season as bellwether firms from around the world shed light on their most recent quarter's performance [see also First Trust Wins Auto ETF Race, Debuts CARZ].
Today, prior to market open, Teva Pharmaceutical
Analysts are calling for the company to report EPS of $1.04 with revenues of approximately $4.3 billion. Last quarter, the company missed its marks, disappointing investors as it had surpassed its predictions for the three quarters prior. As we have seen with many major firms during earnings reports, strong or weak numbers can be completely overshadowed by guidance for the company's future. As more and more major pharma firms come to grips with the star drugs coming off patent, Teva will be the company to swoop in and undercut, which may provide for a strong guidance for the near future [see also Middle East ETFs Under Pressure as Protests Intensify].
With this major earnings announcement on tap, today's ETF to watch will be the iShares MSCI Israel Capped Investable Market Index
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Disclosure: Photo courtesy of David Richfield. No positions at time of writing.
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Johnson & Johnson is a Motley Fool Inside Value pick. Teva Pharmaceutical Industries is a Motley Fool Global Gains pick. Johnson & Johnson is a Motley Fool Income Investor choice. Motley Fool Options has recommended a diagonal call position on Johnson & Johnson. The Fool owns shares of Johnson & Johnson, and Teva Pharmaceutical Industries. Alpha Newsletter Account, LLC owns shares of Johnson & Johnson.
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