The quarterly earnings season continues with resource firm Cleveland-Cliffs (CLF) posting results. The firm offered to buy Canadian steel producer Stelco Holdings (STZHF). It will pay $70 a share, consisting of a combination of $60 a share in cash and 0.454 common shares for each Stelco stock.
Investors did not like the deal. CLF stock peaked at over $22 in April and closed at $15.17.
In the technology sector, NXP Semiconductor (NXPI) should post strong quarterly results. The firm’s results today may send the stock back up near its $296.08 high for the year. NXPI stock trades at a premium but has a proven profitability profile.
SAP (SAP), whose stock is struggling to break out above $200, should post strong bookings and revenue in its report. The company has a healthy pace of customer backlog for its cloud enterprise resource planning software. Look for SAP to re-affirm generating EUR 8 billion in free cash flow in fiscal 2025.
Telecom giant Verizon Communications (VZ) may break above its $40 - $41.50 trading range. Investors are looking for Verizon to post higher subscriber figures. Expectations are low: the market expects revenue to increase below 1.5% at $33 billion. Markets will also watch AT&T (T) after it posts results.
