Earnings season is now in full swing, with a lot of key corporations because of report within the coming week, together with 4 of the Magnificent 7 tech giants in focus.

Uncertainty over US president Donald Trump’s tariff plans continues to loom giant over markets, with buyers keen to search out out extra element from corporations as to how a US-China commerce battle might influence their companies.

Buyers will likely be holding an eye fixed out for an commentary on potential disruption from tariffs from Magazine 7 corporations Apple (AAPL), Microsoft (MSFT), Meta (META) and Amazon (AMZN) after they report within the coming week.

Fears of a tariff-induced recession and the impact this might have on gasoline demand have weighed on oil costs, including to strain on the likes of Shell (SHEL.L), which is about to report on Friday 2 Might.

Main UK-listed banks are additionally set to be within the highlight on the London market, with HSBC (HSBA.L), Lloyds (LLOY.L), Barclays (BARC.L) and NatWest (NWG.L) all slated to report within the coming week.

This is extra on what to look out for:

US inventory markets have fluctuated as buyers reply to totally different messages from the Trump administration round tariffs, notably these on China, the place lots of Apple’s (AAPL) merchandise are made.

Susannah Streeter, head of cash and markets at Hargreaves Lansdown, stated that whereas iPhone-maker Apple had “managed to wriggle out of the worst of the tariff moves, with Trump having excluded smartphones and other electronics goods from super-high tariffs on Chinese imports, the company is likely to be bracing for a bite to be taken out of sales.”

Learn extra: What to anticipate from Magazine 7 firm earnings in gentle of Trump tariff turmoil

“There is still uncertainty about what the future will hold, given that the exemptions may still be temporary, especially as Trump ultimately wants more phone manufacturing to be based in the US,” she stated. “Given that the furore has also knocked consumer confidence around the world, shoppers may still be more cautious about spending big on little devices in the months ahead, whatever AI promises are dangled.”

“Apple still boasts enviable brand power, but iPhone sales have underwhelmed in the US, due to fewer upgrades than hoped.

“Rising {hardware} gross sales can be essential to propel development in Apple’s Companies phase. With competitors in key markets, particularly China, rising, Apple might nonetheless be going through crunch time when it comes to development.”

She said that full-year revenue expectations for Apple were edging lower, “given the upset US commerce coverage is frightening.”

For the second quarter, sales are expected to be up 3% year-on-year at $93.6bn (£70.4bn), while earnings per share is estimated to have grown by 5% to $1.60, according to analyst consensus forecast data provided by AJ Bell.

Total revenues in the first quarter came in at $124.3bn, which was up 4% on the same period in the previous year, while earnings per share rose to $2.41 from $2.19.

Apple shares fell following the company’s first quarter update and are down 18% year-to-date.

Reaction to earnings releases from Microsoft (MSFT) and Meta (META), due out the day before Apple (AAPL) and Amazon’s (AMZN), should set the tone in terms of investor sentiment towards the Mag 7.

Investors will be keen to find out any more details on Microsoft’s AI data centre plans, after it recently revealed that it would “slowing or pausing” some projects.

Streeter said that Microsoft is in “one of many strongest positions to learn from the AI revolution on condition that synthetic intelligence might be built-in into nearly all of Microsoft’s present merchandise,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

“Inside Azure, it’s Cloud companies division, demand for AI companies has been a giant development space, attracting new shoppers as Microsoft competes in opposition to rivals like Amazon’s AWS.”

Read more: Bank of England likely to cut interest rates, hints Andrew Bailey

“Due to this it’s set to remain delicate to considerations about decrease demand for AI know-how amid the uncertainty,” she added. “It has already diminished the size of some knowledge centre tasks within the US and Europe, and any trace of an extra discount in demand might result in additional volatility within the share worth.”

In terms of performance, Microsoft’s revenue in the fourth quarter of $69.6bn came in just ahead of consensus estimates of $68.92bn, while earnings per share of $3.23 beat expectations of $3.11, according to a Reuters report.

However, closely watched cloud revenue fell short of expectations, coming in at $40.9bn compared to estimates of $41.1bn.

In addition, Microsoft said in its earnings call at the time that third quarter revenue for its Intelligent Cloud business was expected to come in between $25.9bn and $26.2bn.

Shares fell after the release of the company’s second quarter earnings and have failed to recover since, trading more than 10% in the red year-to-date.

Oil prices are now trading at their lowest point in nearly four years, with brent crude futures (BZ=F) down at $65.67 a barrel, amid fears about the impact of a recession on demand for fuel.

In addition, there are also concerns about an increase in supply as demand slows. Reuters reported on Wednesday that several members of the OPEC+ group of leading oil-producing countries suggested that the organisation will accelerate oil production increases for the second consecutive month in June.

Lower oil prices impact the profit companies make from refining the commodity, putting pressure on the likes of Shell (SHEL.L) and BP (BP.L), which are both reporting in the coming week.

Stocks: Create your watchlist and portfolio

Shares in Shell are down 1.8% year-to-date, with the stock having seen a sharp fall following a trading update in early April, in which the company warned that it expected to see lower liquified natural gas (LNG) volumes in the first quarter of 2025.

The energy giant said that the updated forecast reflected the impact of cyclones, as well as unplanned maintenance, in Australia.

As for oil, Shell said it expected to generate upstream output of 1.79 million to 1.89 million barrels equivalent per day. This compared to a previous forecast of 1.75 million to 1.95 million barrels equivalent per day. In addition, the company posted an indicative refining margin of $6.2 (£4.82) a barrel for the first quarter, which would be up from $5.5 a barrel in the previous three months.

AJ Bell’s (AJB.L) investment experts Russ Mould, Danni Hewson and Dan Coatsworth said that analysts expect adjusted earnings to come in at $5bn in the first quarter.

“For the second, analysts anticipate a 6% enhance in full-year pre-tax earnings to $31.6bn, however given developments within the oil and fuel worth, it appears logical to imagine earnings will are available decrease within the first quarter of 2025 than they did within the first three months of 2024,” they said.

They said: “The majority of the drop [in adjusted earnings] is predicted to return from the built-in fuel and chemical substances operations, with renewables and power options additionally exhibiting a decline.”

The AJ Bell team said that shareholders would focus on cash returns “particularly as Shell’s March analysts assembly laid out plans to extend them, and peer and rival BP is underneath strain from activist investor Elliott to spice up money circulate so it might probably presumably do the identical.”

In the fourth quarter, Shell nudged up its dividend to $0.3580 and Shell CEO Wael Sawan launched a $3.5bn share buyback for the first quarter, compared to the $2.8bn programme run in the same period of the previous year.

Banks will be the other major reporting focus on London markets for the week ahead, starting with HSBC (HSBA.L) on Tuesday.

“HSBC’s shares had come inside a whisker of 2001’s all-time excessive again in March, simply earlier than president Donald Trump introduced his reciprocal tariffs on ‘Liberation Day’ on 2 April,” said AJ Bell’s Mould, Hewson and Coatsworth.

“They’ve fallen by round a sixth since then, so will probably be attention-grabbing to see if chief government Georges Elhedery is as upbeat now as he was on the time of the 2024 full-year ends in February,” they said. “Again then, Mr Elhedery and the board felt assured sufficient to sanction an elevated dividend, a brand new $2bn share buyback and lift targets for return on fairness in 2026 and 2027.”

In the full-year results, HSBC also revealed more details about its cost-cutting drive, on the back of CEO Georges Elhedery unveiling an overhaul of the bank’s structure in October, shortly after taking the reins.

The bank said it aimed to generate around $300m of cost reductions in 2025, committing to an annualised reduction of $1.5bn in its cost base expected by the end of 2026. To deliver these reductions, the bank said it planned to incur severance and other up-front costs of $1.8bn over 2025 and 2026.

In terms of performance, HSBC’s profits before tax rose by $2bn to $32.3bn in 2024, though revenue dipped to $65.8bn, versus versus $66.1bn in 2023.

Net interest income (NII) — the gap between what it pays out to savers and receives from borrowers in interest — fell by $3.1bn to $32.7bn. In its outlook, HSBC (HSBA.L) said it expected to generate banking NII of $42bn in 2025.

As for other financial metrics, AJ Bell’s investment experts said that analysts anticipate a like-for-like drop in pre-tax income to $7.8bn in the first quarter, “thanks, in the primary, to decrease buying and selling beneficial properties, larger one-off prices and elevated mortgage loss fees.”

A key point of note will be HSBC’s cash return to shareholders, with analysts expecting the bank’s full-year dividend to increase to $0.665, from $0.61.

“At present alternate charges that’s value some £9bn, equal to a dividend yield of greater than 6%,” said Mould, Hewson and Coatsworth. “Additional buybacks are anticipated as effectively, to take the overall money return to greater than 12% of the financial institution’s present inventory market capitalisation, however it stays to be seen whether or not administration feels such largesse is prudent in gentle of the continuing macroeconomic uncertainties.”

Shares in Lloyds rose following the company’s full-year results in February, despite it reporting a 20% drop in profits, with the stock currently trading at its highest point since 2018.

Lloyd’s posted a pre-tax profit £5.97bn ($7.94bn) for 2024, which was down from £7.5bn in 2023. Analysts had predicted a slightly higher profit of £6.39bn, according to a consensus compiled by Reuters. Underlying NII for the year fell 7% to £12.8bn amid falling interest rates.

The bank also revealed that it had set aside a further £700m for potential remediation costs relating to relating to motor finance commission arrangements, taking the total it had put aside to £1.2bn.

The motor financing scandal over how consumers have been sold car loans has opened up the possibility that lenders could end up paying out tens of billions of pounds in compensation. In October, the court of appeal ruled it unlawful for dealerships to receive commissions on car finance deals without securing “fully informed consent” from buyers.

Lenders Close Brothers (CBG.L) and FirstRand (FSR.JO) have sought to overturn the ruling, and the case headed to the UK’s supreme court earlier this month to hear evidence, before it makes judgement on the issue, which is expected in July.

Read more: Six FTSE 100 stock ideas for the second quarter, according to Barclays

The Financial Conduct Authority (FCA), the UK regulator, has said the supreme court’s decision would inform its next steps and would confirm if it was proposing a redress scheme within six weeks of the ruling.

Lloyds owns motor finance company Black Horse, which is one of the biggest car finance providers in the UK.

Barclays (BARC.L) analysts Aman Rakkar and Grace Dargan said in a note on 14 April that Lloyds was one of their top ideas among European banks and had “a number of the strongest fundamentals throughout the sector with a possible catalyst from motor finance coming over the subsequent few months.”

“Though full readability on any redress scheme is unlikely earlier than This autumn, we anticipate the judgement and FCA announcement can remove the more severe case tail-risks priced in by the market,” they said.

The analysts said that they expected to see some of the highest earnings per share growth from Lloyds in the sector at around 65% over 2025 to 2027.

In terms of guidance for 2025, Lloyds said it expected to see underlying NII of around £13.5bn and operating costs of approximately £9.7bn.

Pharmaceuticals giant AstraZeneca (AZN.L) was another “obese” rated stock Barclays (BARC.L) analysts highlighted as their UK ideas for the second quarter, in the same note on 14 April.

Barclays’ analysts Emily Field and Shirley Chen highlighted three major catalysts for the stock this year — its studies around cancer drugs Datroway and Camizestrant, as well as blood pressure medication Baxdrostat.

They said that three reasons why they liked AstraZeneca in an increasingly choppy market and macro-environment were that it offered “best-in-class science, [had] international geographic and product diversification [and had a] best-in-class administration workforce.”

Learn extra: Shares which can be trending at the moment

At the same time, there is still uncertainty over the nature of tariffs that the Trump administration could impose on the pharmaceuticals sector.

On Wednesday, the bosses of key pharmaceuticals companies urged the European Union to allow them to raise the price of medicines amid the uncertainty over tariffs.

Pascal Soriot, CEO of AstraZeneca, said that Europe should boost spending on health treatment, as it has done recently with investment in defence.

“The world order is shifting proper now and Europe wants to speculate extra in what actually issues to it,” he said.

“Europe has stepped as much as make investments extra in defence and now it should shield its well being sovereignty.”

“Europe spends a substantially lower share of GDP (gross domestic product) on innovative medicines than the US and, as a result, is falling behind in attracting R&D (research and development) and manufacturing investments, putting its ability to protect the health of its own people at risk,” Soriot stated.

Regardless of nervousness round tariffs, AstraZeneca shares are down lower than 1% year-to-date. Within the firm’s full-year ends in February, the corporate posted a 21% enhance in income for 2024 at $54.1bn and a 29% rise in reported earnings per share at $4.54.

AstraZeneca stated it anticipated whole income to extend by a high-single digit proportion in 2025 and core earnings per share to be up by a low double-digit proportion.

Monday 28 April

Hitachi (6501.T)

NEC (6701.T)

Komatsu (6301.T)

TDK (6762.T)

Kikkoman (2801.T)

Schneider Electrical (SU.PA)

Puig (PUIG.MC)

Viscofan (VIS.MC)

Vivendi (VIV.PA)

Waste Administration (WM)

NXP Semiconductors (NXPI)

Nucor (NUE)

Domino’s Pizza (DPZ)

F5 (FFIV)

Teradyne (TER)

Rambus (RMBS)

Amkor (AMKR)

Tuesday 29 April

Warpaint London (W7L.L)

Animalcare (ANCR.L)

Related British Meals (ABF.L)

AstraZeneca (AZN.L)

BP (BP.L)

Coca-Cola Europacific Companions (CCEP.L)

Beazley (BEZ.L)

Entain (ENT.L)

Howden Joinery (HWDN.L)

Travis Perkins (TPK.L)

Canal+ (CAN.L)

Agricultural Financial institution of China (601288.SS)

Financial institution of China (601398.SS)

China Development Financial institution (601939.SS)

CNOOC (600938.SS)

Air China (601111.SS)

Cosco Transport (1919.HK)

Novartis (NOVN.SW)

Atlas Copco (ATCO-A.ST)

BBVA (BBVA.MC)

Common Music (UMG.AS)

Porsche (PAH3.DE)

Adidas (ADS.DE)

CapGemini (CAP.PA)

Deutsche Financial institution (DBK.DE)

ASM Worldwide (ASM.AS)

Carlsberg (CARL-B.CO)

Norsk Hydro (NHY.OL)

Logitech (LOGN.SW)

Lufthansa (LHA.DE)

SIG (SHI.L)

Volvo Automotive (VOLCAR-B.ST)

SSAB (SSAB-B.ST)

Clariant (CLN.SW)

HelloFresh (HFG.DE)

Visa (V)

Coca-Cola (KO)

Pfizer (PFE)

Honeywell (HON)

Spotify (SPOT)

UPS (UPS)

Starbuck’s (SBUX)

Altria (MO)

Mondelez (MDLZ)

PayPal (PYPL)

Normal Motors (GM)

Hilton Worldwide (HLT)

Royal Caribbean (RCL)

Kraft Heinz (KHC)

CoStar (CSGP)

Entegris (ENTG)

Seagate (STX)

Snap Inc (SNAP)

SoFi Applied sciences (SOFI)

Caesars Leisure (CZR)

Qorvo (QRVO)

Wednesday 30 April

Sanderson Design (SDG.L)

Aston Martin Lagonda (AML.L)

Glencore (GLEN.L)

Barclays (BARC.L)

GSK (GSK.L)

Prudential (PRU.L)

Subsequent (NXT.L)

Haleon (HLN.L)

SEGRO (SGRO.L)

Coca-Cola HBC (CCH.L)

Smith & Nephew (SN.L)

Taylor Wimpey (TW.L)

Spectris (SXS.L)

OSB (OSB.L)

Coles (COL.AX)

Tokyo Electron (8035.T)

Samsung Electronics (005930.KS)

AIA (1299.HK)

Foxconn (601138.SS)

SAIC Motor (600104.SS)

Prada (1913.HK)

Airbus (AIR.PA)

TotalEnergies (TTE.PA)

UBS (UBSG.SW)

Iberdrola (IBE.MC)

Banco Santander (BNC.L)

Equinor (EQNR)

Mercedes Benz (MBG.DE)

Volkswagen (VOW3.DE)

DHL (DHL.DE)

Caixabank (CABK.MC)

Credit score Agricole (ACA.PA)

Schindler (SCHP.SW)

Stellantis (STLAM.MI)

Société Générale (GLE.PA)

Sandoz (SDZ.SW)

Repsol (REP.MC)

Kingspan (KRX.IR)

Subsea 7 (SUBC.OL)

Air France-KLM (AF.PA)

Rémy Cointreau (RCO.PA)

Meta Platforms (META)

Qualcomm (QCOM)

Caterpillar (CAT)

KLA (KLAC)

Yum! Manufacturers (YUM)

Hess (HES)

Robinhood (HOOD)

Prudential Monetary (PFH)

Humana (HUM)

eBay (EBAY)

GE Healthcare (GEHC)

MGM Resorts (MGM)

Bausch & Lomb (BLCO)

Norwegian Cruise Line (NCLH)

Thursday 1 Might

Whitbread (WTB.L)

Tracsis (TRCS.L)

London Inventory Alternate (LSEG.L)

Lloyds Banking (LLOY.L)

Endeavour Mining (EDV.L)

Persimmon (PSN.L)

Lancashire (LRE.L)

Morgan Sindall (MGNS.L)

Adani Enterprises (ADANIENT.NS)

Budweiser Brewing APAC (1876.HK)

Apple (AAPL)

Amazon (AMZN)

Eli Lilly (LLY)

Mastercard (MA)

McDonald’s (MCD)

Linde (LIN)

Amgen (AMGN)

Stryker (SYK)

CVS Well being (CVS)

KKR (KKR)

Thomson Reuters (TRI)

Airbnb (ABNB)

AIG (AIG)

Roblox (RBLX)

Estee Lauder (EL)

Hershey (HSY)

Stay Nationwide (LYV)

Kellanova (Ok)

Ingersoll Rand (IR)

Smurfit Westrock (SW)

Cameco (CCJ)

Baxter (BAX)

Juniper Networks (JNPR)

Moderna (MRNA)

US Metal (X)

Harley-Davidson (HOG)

Friday 2 Might

Pearson (PSON.L)

NatWest (NWG.L)

Commonplace Chartered (STAN.L)

Quick Retailing (9983.T)

Mitsubishi (3636.T)

Japan Airways (9201.T)

ING (INGA.AS)

BASF (BAS.DE)

Danske Financial institution (DANSKE.CO)

Arcelor Mittal (MT.AS)

Financial institution of Eire (BIRG.L)

Aalberts (AALBF)

ExxonMobil (XOM)

Chevron (CVX)

Cigna (CI)

Wendy’s (WEN)

You may learn Yahoo Finance’s full calendar right here.

Learn extra:

Obtain the Yahoo Finance app, obtainable for Apple and Android.