Insurance cos saw weak APE growth on Jan-Feb vols. Guidance by majors though firm on 10%+ revenue growth. IT cos (ex TCS) saw 2-12% earnings downgrade, largely on margin issues, even as revenues were in-line. Key negatives: Pharma generics saw largely in-line to below results as RM costs, generic pricing pressures sustain and a high base of COVID impacts domestic revenues. Limited downgrades on margins holding up largely due to adspend cut. Staples vol trend weak at +/-3% for majors such as HUL, Marico, Colgate and Dabur. Metal results were positive but with earnings concerns as margin outlook weakened post recent price fall. Consumer durables results saw strong (30%+) revenue growth for Havells and V-Guard, helping tide over margin pressures. Consumer discretionary results for reopening plays such as Devyani (KFC), Varun Beverages (Pepsi) and Jubilant (Dominos) were strong with Ebitda up 15%+. Margin trajectory has improved as price-hikes started to outpace commodity cost pressures and op. estimates, and earnings were upgraded for FY23. Auto OEM results were mostly above or in-line vs. pre-sales jump continued (+33% y-o-y), with GPL and Lodha giving 25%+ growth guidance for FY23 pricing traction visible.

Loan growth above 15% and profit above 50% for Axis, ICICI and Kotak. Since that article, Ford stock is up about 51%, better than the respective comparable 21% and 17% gains of theДЇord stock is unchanged in premarket trading.Key positives: Banks/lenders saw strong y-o-y earnings growth as asset quality trends were strong and system loan growth hit double digits. The extra $8 billion is meant to support FordвЂ™s plans to produce EV batteries.Д«arronвЂ™s recently wrote positively about Ford, believing new management could reinvigorate its EV plans and its existing product line. In May, Ford said it plans to spend $30 billion on vehicle electrification by 2025, up from a previously stated goal of $22 billion. Sales of the Mustang Mach E came in at 12,975, up 27% from May. 4 is likely to be vehicle electrification.ДЇor June, Ford reported a 117% year-over-year increase in electric-vehicle salesВ to 56,570. Production, the chip shortage, and the outlook for earnings in 2021 will be issues one, two, and three on the agenda for Wednesday evening. That would mean no new cuts to guidance due to a lack of semiconductors. The shortage isnвЂ™t over, but investors would like to know that the second quarter was the worst of it. What investors will want Wednesday evening is reassurance that there isnвЂ™t more bad news on the way.

An increase from the 17% loss in Q1, making Q2 the trough for our performance this year. We now expect to lose aboutВ 50%В of our planned Q2 production, said CFO John Lawler. Ford said on its first-quarter earnings conference call that the global semiconductor shortage could hit second-quarter output by as much as 50%. That would be a sharp reversal from the first quarter, when the company earned 89 cents from $36.2 billion in sales. On Monday, the shares closed at $14.03, bringing the year-to-date gain to about 56%.ДЇor the second quarter, Wall Street is looking for a loss of 3 cents a share from $23 billion in sales. The stock dropped 9.4% the next day, sliding to $11.26 a share. Still, the communication was, frankly, a little difficult to follow. The implied impact of the shortage was about $1.1 billion, roughly what should have been expected given what other auto makers were saying. What to Know Ahead of FacebookвЂ™s Report.When Boeing Reports Earnings, Watch the Cash-Burn Data.

Notable earnings today