Author: Chris Katje

With millions of passengers travelling for the Thanksgiving holiday last week, a new U.S. airport screening record has been set by TSA. Here’s a look at the record.

• JETS is gathering positive momentum. Stay ahead of the curve here.

Airport Traffic Record

Along with watching the Macy’s Thanksgiving Day parade and watching NFL games on Thanksgiving, travelling by plane to family gatherings was a Thanksgiving tradition celebrated in 2025.

TSA reported a record for passengers screened on Nov. 30, the Sunday after Thanksgiving.

“TSA screened about 3,133,924 individuals, the highest number ever in TSA’s history, bringing our Top 10 busiest days all above 3M,” TSA tweeted Monday.

The total passengers screened broke a record of 3,096,797 passengers previously set back in June. All 10 of the busiest airport traffic days in the U.S. have taken place in 2024 or 2025.

Here are the top 10 busiest travel days in the U.S. based on TSA screening data by passengers screened:

1. Nov. 30, 2025: 3,133,924
2. June 22, 2025: 3,096,797
3. Dec. 1, 2024: 3,088,836
4. July 20, 2025: 3,043,973
5. July 6, 2025: 3,041,954
6. July 27, 2025: 3,017,861
7. Oct. 10, 2025: 3,017,612
8. July 7, 2024: 3,013,622
9. May 23, 2025: 3,010,183
10. July 13, 2025: 3,007,773

Along with Sunday’s record, TSA also said more than 18 million passengers were screened from Tuesday, Nov. 25, through Monday, Dec. 1.

Last year saw the Sunday after Thanksgiving (Dec. 1, 2024) rank third all-time among days of screened passengers in the U.S.

Read Also: Detroit Lions, Dallas Cowboys Continue Thanksgiving Day NFL Tradition: Here’s Why These 2 Teams Always Play On Holiday

Good News for Airline Stocks?

While a record amount of passengers in airports probably meant headaches for those flying to and from family gatherings and the people working for airlines and airports, it could be good news at just the right time for airline stocks.

The new TSA record comes less than a month after the end of the government shutdown. The record 43-day government shutdown saw cuts to flights with shortages of traffic controllers and other employees, who were not getting paid during the federal work stoppage.

Leading U.S. airlines like American Airlines Group (NASDAQ:AAL), Delta Air Lines Inc (NYSE:DAL), United Airlines Holdings (NASDAQ:UAL) and Southwest Airlines Company (NYSE:LUV) could all benefit from the record traffic and likely fully-booked flights.

The airline companies could see disruptions in revenue from the government shutdown and may still end up reporting weaker-than-expected results for the current quarter. The record traffic for Thanksgiving could help offset that weakness.

The major airlines will report quarterly earnings in January.

The US Global Jets ETF (NYSE:JETS), which counts the four airline stocks above as its largest holdings, could benefit from strong earnings results from the companies and positive news for the sector.

The ETF closed up 1.71% to $26.65 on Tuesday, nearing a 52-week high set back in January.

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Restaurant giant McDonald’s Corporation (NYSE:MCD) could show the importance of value meals and new product launches when the company announces third-quarter financial results on Wednesday before market open.

• See what the experts say about MCD stock here.

Here are the earnings estimates, analyst ratings and key items to watch ahead of the quarterly results.

Earnings Estimates: Analysts expect McDonald’s to report third-quarter revenue of $7.09 billion, up from $6.87 billion in last year’s third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in six of the last 10 quarters, including the most recently reported second quarter.

Analysts expect McDonald’s to report third-quarter earnings per share of $3.33, up from $3.23 in last year’s third quarter.

The company has beaten analyst estimates for earnings per share in two straight quarters and in eight of the past 10 quarters overall.

Read Also: Top Stocks With Earnings This Week: Joby, IonQ, AMD and More

What Analysts Are Saying: Analysts have been mostly lowering their price targets on McDonald’s stock ahead of the quarterly results.

Here are recent analyst ratings on McDonald’s and their price targets:

• Mizuho: Initiated with Neutral rating, with price target of $300
• BTIG: Maintained Neutral rating, with no price target
• Barclays: Maintained Overweight rating, raised price target from $360 to $362
• Citigroup: Maintained Buy rating, lowered price target from $381 to $375
• Wells Fargo: Maintained Overweight rating, lowered price target from $350 to $340

Key Items to Watch: A report from Placer.ai shows McDonald’s having fewer visits during the third quarter, which could impact the company’s revenue and earnings per share.

The report says McDonald’s suffered a 3.5% year-over-year decline in visits in the third quarter, with same store visits down 4% year-over-year in the quarter.

After seeing better quick service restaurant (QSR) visitor figures in the second quarter, the report shows visits declined 1.8% in July, 4.4% in August and 4.4% in September on a year-over-year basis. That compares to QSR industry average declines of 1%, 2.9% and 3.1%, respectively, for July, August and September.

Placer.ai says the QSR category is seeing headwinds like inflation, shifts in consumer behavior, growth of weight-loss drugs and value-menu fatigue.

“McDonald’s has not been immune from these challenges,” the report said.

Recall that McDonald’s second quarter included strength from a collaboration with “A Minecraft Movie” with the Minecraft Meal highlighted as helping boost sales and traffic in April. The company reported U.S. comparable sales were up 2.5% year-over-year in the second quarter, which was good news after U.S. comp sales were down 3.6% year-over-year in the first quarter.

The good news for McDonald’s and its investors could be a hopeful return to growth in the fourth quarter, potentially helped by the return of extra value meals in September and the return of Monopoly for the first time since 2014.

More than 30 menu items are eligible for Monopoly game pieces during the promotion, which began on Oct. 6. The game features digital game pieces and physical game pieces with a focus on getting users to sign up for the loyalty app.

“Our fans have been clamoring for the return of MONOPOLY at McDonald’s, and we’re thrilled to bring it back with a modern, digital spin,” McDonald’s USA Chief Marketing and Customer Experience Officer Alyssa Buetikofer said. “The game is a core memory for so many customers, and we’re excited that those memories can now be shared across generations.”

McDonald’s CEO Chris Kempczinski highlighted just how important the loyalty program is for future sales growth during the company’s second-quarter earnings call.

“Roughly a quarter of our business in the U.S. is on our loyalty program,” Kempczinski said, as reported by CNN.

The McDonald’s CEO quantified the importance by saying non-loyalty U.S. customers visit McDonald’s 10.5 times a year on average. Rewards members average 26 visits to McDonald’s restaurants per year, more than double non-loyalty members, as reported by Customer Experience.

“Getting more and more consumers to be in our loyalty program — that’s how we’re going to drive this business, because it’s going to be frequency-led growth.”  

The company had around 185 million global loyalty members at the end of the second quarter, with a goal to have 250 million active loyalty members by the end of 2027.

While the third-quarter results may not be great for McDonald’s, a hope could be that value meals and Monopoly could factor into strong fourth-quarter guidance and the Monopoly game could grow the loyalty base to help boost return visits going forward.

MCD Price Action: McDonald’s stock closed down 0.66% to $296.37 on Monday versus a 52-week trading range of $276.53 to $326.32. McDonald’s shares are up 2.24% year-to-date in 2025.

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Steel producer Cleveland-Cliffs Inc (NYSE:CLF) could highlight how tariffs helped the American manufacturing sector when the company reports third-quarter financial results before market open on Monday, Oct. 20.

• See how CLF stock is doing here.

Earnings Estimates: Analysts expect Cleveland-Cliffs to report third-quarter revenue of $4.90 billion, up from $4.57 billion in last year’s third quarter, according to data from Benzinga Pro.

The company beat analyst estimates for revenue in the second quarter, but has missed estimates in six of the past seven quarters.

Analysts expect Cleveland-Cliffs to report a loss of 48 cents per share in the third quarter, compared to a loss of 33 cents per share in last year’s third quarter.

The company beat analyst estimates for earnings per share in the second quarter, but has missed analyst estimates in three of the last four quarters and in seven of the past 10 quarters overall.

Read Also: Looking At Cleveland-Cliffs’s Recent Unusual Options Activity

Key Items to Watch: Several analysts have raised their price targets on the steel company ahead of earnings, which could be related to the company’s strong outlook after second-quarter results and management commentary on tariffs.

Here are some recent analyst ratings on Cleveland-Cliffs and their price targets:

• JPMorgan: Maintained Neutral rating, raised price target from $10 to $13
• Goldman Sachs: Maintained Buy rating, raised price target from $12.85 to $14.50
• Bank of America Securities: Maintained Neutral rating, raised price target from $9.50 to $12.50
• Wells Fargo: Maintained Equal-Weight rating, raised price target from $10 to $11

Cleveland-Cliffs reported record steel shipments in the second quarter and highlighted that recent operational efforts were paying off with cost reductions.

CEO Lourenco Goncalves said the company’s order book was healthy during the second-quarter financial results, while also providing some thanks to President Donald Trump for the positive impact tariffs were having on the company.

“Cliffs is a major supplier of steel to the automotive manufacturers, and the Trump Administration continues to show strong support to both the domestic steel and the domestic automotive sectors,” Goncalves said.

The Cleveland-Cliffs CEO said tariffs were having a positive impact on U.S. manufacturing and the country’s steel industry with the company to benefit as a domestic company providing steel to many sectors.

Goncalves said foreign competitors in the steel sector would need to establish a presence in the U.S. to have access to sectors and avoid tariffs.

While some companies are seeing negative impacts from tariffs, Cleveland-Cliffs is one of the few examples of companies thanking the Trump administration and showing how the tariffs could help revenue growth.

Analysts and investors will be watching third-quarter results to see if tariffs helped results and if management remains bullish going forward.

CLF Price Action: Cleveland-Cliffs stock closed Friday down 1.77% to $13.32 versus a 52-week trading range of $5.63 to $14.51. Shares are up 39.6% year-to-date in 2025.

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Photo: Piotr Swat via Shutterstock

American Express Company (NYSE:AXP) looks to justify new price targets on the stock from analysts when the company reports third-quarter financial results before market open Friday.

Here are the earnings estimates, what analysts are saying and key items to watch.

Earnings Estimates: Analysts expect American Express to report third-quarter revenue of $18.05 billion, up from $16.64 billion in last year’s third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in three straight quarters and in six of the last 10 quarters overall.

Analysts expect the company to report third-quarter earnings per share of $4.00, up from $3.49 in last year’s third quarter.

The company has beaten analyst estimates for earnings per share in two straight quarters and in seven of the last 10 quarters overall.

Read Also: Retail Investors’ Top Stocks With Earnings This Week: Fastenal, ASML, TSMC And More

What Analysts Are Saying: In September, Truist Securities analyst Brian Foran reiterated a Buy rating and $375 price target.

The analyst said the company’s refreshed Platinum card is getting mixed reviews, but could provide upside based on a survey of users. A higher annual fee was one of the key items in the Truist survey and the majority of respondents said they planned to renew.

Foran said risks for American Express include higher marketing and technology costs, which could outpace revenue growth. The analyst also cautioned of credit deterioration given a potential weaker economy.

Here are other analyst ratings on American Express and their price targets:

• UBS: Maintained Neutral rating, raised price target from $330 to $340
• JPMorgan: Maintained Neutral rating, raised price target from $343 to $355
• Barclays: Maintained Equal-Weight rating, raised price target from $297 to $336
• Keefe, Bruyette & Woods: Maintained Outperform rating, raised price target from $371 to $394
• Evercore ISI Group: Maintained In-Line rating, raised price target from $330 to $365

Key Items to Watch: The company’s recent upgrades, which include higher perks and fees for consumers, will likely be a key topic of discussion.

Analysts and investors will be looking for commentary on demand and potential churn due to the higher rates.

The company’s refresh is seen as a potential play to Millennials and Gen Z users, offering new perks aimed at these age demographics that could offset the higher fee prices. Younger consumers make up around 35% of all U.S. consumer spending for the company, a rate that has increased from 19% in 2019.

American Express reported strong Card Member spending and higher net interest income in the second quarter. Quarterly revenue, net of interest expense, was up 9% year-over-year in the second quarter.

Card Member spending was up 7% year-over-year to $416.3 billion in the second quarter. Investors and analysts will be closely examining this key metric to gauge the company’s growth and also as a potential indicator of the overall U.S. economy.

The company’s International Card Services segment was up 14.5% year-over-year in the second quarter. In comparison, Global Merchant and Network Services revenue was up 3.2% year-over-year in the second quarter.

Another item of interest to investors and analysts will be the company’s expenses, which were up 14% year-over-year in the second quarter. Investors and analysts will likely be looking for cost increases to be lower than revenue growth.

The company reiterated its full-year revenue and earnings per share outlook after second-quarter results. With another strong quarterly report, investors and analysts may be seeking a raise in guidance.

The company is one of the largest holdings of Berkshire Hathaway Inc (NYSE:BRK) (NYSE:BRK), the conglomerate run by legendary investor Warren Buffett. American Express makes up around 16.7% of Berkshire’s investment portfolio with a 151.6 million share stake. Berkshire owns around 21.8% of American Express.

American Express’s quarterly results could have an impact on the Dow Jones Industrial Average as one of the largest holdings in the prominent stock market index. American Express is the eighth-largest holding in the SPDR Dow Jones Industrial Average ETF (NYSE:DIA), which tracks the index, representing 4.4% of the ETF’s assets.

AXP Price Action: American Express stock traded at $333.02 on Wednesday, within a 52-week trading range of $220.43 to $349.19. American Express stock is up 11.6% year-to-date in 2025.

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Chip foundry company Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) could highlight strength for the semiconductor sector when the company reports third-quarter financial results before the market opens on Thursday.

• TSM is under selling pressure. Stay ahead of the curve here.

Earnings Estimates: Analysts expect Taiwan Semiconductor Manufacturing to report third-quarter revenue of $31.50 billion, up from $23.50 billion in last year’s third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in seven straight quarters.

Analysts expect the company to report third-quarter earnings per share of $2.59, up from $1.94 per share in last year’s third quarter.

The company has beaten analyst estimates for earnings per share in seven straight quarters.

The company’s guidance calls for third-quarter revenue to be in the range of $31.8 billion to $33.0 billion.

Read Also: Retail Investors’ Top Stocks With Earnings This Week: Fastenal, ASML, TSMC And More

Key Items to Watch: Taiwan Semiconductor shares trade near all-time highs, with the sector benefiting from growth in artificial intelligence and increased demand.

The company reported consolidated net revenue of NT$330.98 billion for September 2025, up 31.4% from a year earlier but down 1.4% from August.

September saw the company benefit from demand for advanced semiconductor nodes thanks to growth in the artificial intelligence and high-performance computing areas of the tech sector.

Key customers for Taiwan Semiconductor include Apple Inc (NASDAQ:AAPL) and NVIDIA Corporation (NASDAQ:NVDA), two of the three largest companies in the world by market capitalization.

The company is one of the key players in the chip sector. It has been able to see shares soar despite potential geopolitical issues in China and a potential trade war between the United States and China.

Recent large-scale deals announced in the technology space could increase the backlog demand for chips from Taiwan Semiconductor for its key clients.

Huan Nan Securities analyst Kevin Su said a rally in the stock price of Taiwan Semiconductor Manufacturing could suggest that the company is a key to the global AI supply chain.

In the second quarter, Taiwan Semiconductor achieved its seventh consecutive double beat and also provided guidance that helped boost investor confidence in the company.

Revenue was up 44% year-over-year in the second quarter, with gross margins also gaining 540 basis points to 58.6%.

The company’s CEO C.C. Wei highlighted the company’s investments in U.S. chip manufacturing and the U.S. government allowing key client Nvidia to resume sales of its AI chip to China as potential future catalysts.

Wei offered some caution about tariffs during the second-quarter earnings, but told investors and analysts that the company had not seen changes in customer behavior as a result of tariffs yet.

TSM Price Action: Taiwan Semiconductor stock is down 2.0% to $296.72 on Tuesday versus a 52-week trading range of $134.25 to $307.30. Taiwan Semiconductor shares are up 47.1% year-to-date in 2025.

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Photo: Jack Hong / Shutterstock.com

Bank of America Corporation (NYSE:BAC) is one of several banks reporting quarterly financial results this week. Here’s a look at key estimates from analysts ahead of third-quarter financial results on Wednesday, before market open and the key items to watch.

BAC is in positive territory. Follow the breaking news here.

Earnings Estimates: Analysts expect Bank of America to report earnings per share of 95 cents for the third quarter, up from 81 cents per share in last year’s third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for earnings per share in more than 10 straight quarters.

Analysts expect Bank of America to report third-quarter revenue of $27.50 billion, up from $25.49 billion in last year’s third quarter.

The company missed analyst estimates for revenue in the second quarter, but has beaten estimates in eight of the last 10 quarters overall.

Read Also: How To Earn $500 A Month From Bank of America Stock Ahead Of Q3 Earnings

What Analysts Are Saying: Multiple analysts have raised their price targets on Bank of America stock ahead of the quarterly earnings report.

Here are some recent analyst ratings on Bank of America and their price targets:

• UBS: Maintained Buy rating, raised price target from $55 to $57
• Evercore ISI: Maintained Outperform rating, raised price target from $49 to $55
• Morgan Stanley: Maintained Overweight rating, raised price target from $50 to $66
• Truist Securities: Maintained Buy rating, raised price target from $51 to $56

Key Items to Watch: Bank of America is one of multiple banking and finance companies set to report this week. The week’s earnings include JPMorgan Chase & Co. (NYSE:JPM), Citigroup and Goldman Sachs on Tuesday, Bank of America, PNC Financial and Morgan Stanley on Wednesday and several others throughout the week.

On Tuesday, JPMorgan Chase & Co. reported its third-quarter financial results, with earnings per share and revenue both exceeding analyst estimates.

JPMorgan CEO Jamie Dimon said the economy “remained resilient” in the quarter, but cautioned that tariffs, trade uncertainty and geopolitical concerns remain heightened going forward, risking sticky inflation.

Many JPMorgan segments, including Consumer & Community Banking, Commercial & Investment Bank and Asset & Wealth Management, each had net income growth of 20% or more in the quarter on a year-over-year basis.

Analysts and investors will be looking for similar growth from Bank of America, with perhaps more positive commentary about what’s ahead.

Bank of America’s report may be compared to its peers this week to see if higher or lower growth could mean losing or gaining market share in the sector.

In the second quarter, Bank of America reported year-over-year declines in several segments, while net interest income, trading revenue and asset management fees helped the company’s overall growth.

One investor who will be closely watching Bank of America’s earnings report is Warren Buffett, CEO of Berkshire Hathaway Inc (NYSE:BRK)(NYSE:BRK).

Bank of America is the fourth-largest holding in Berkshire Hathaway’s investment portfolio, accounting for approximately 10% of assets, with a 605.27 million share stake valued at $29.57 billion, according to CNBC. Berkshire Hathaway owns around 8.2% of the banking giant.

While Bank of America is a large portfolio holding of Berkshire Hathaway, the conglomerate has been selling a portion of its stake in recent quarters.

In the second quarter, Berkshire Hathaway reduced its stake by 4%, while the conglomerate lowered its stake by 7% in the first quarter.

Buffett could be reducing his exposure to bank stocks or identifying a particular weakness in Bank of America. The earnings report and the third-quarter 13F, due in November, could signal whether Buffett still has the same confidence in the banking company moving forward.

BAC Price Action: Bank of America stock is up 2.0% to $49.82 on Tuesday versus a 52-week trading range of $33.06 to $52.88. Bank of America stock is up 12.6% year-to-date in 2025.

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Restaurant company Domino’s Pizza (NYSE:DPZ) has become a new favorite of Warren Buffett’s Berkshire Hathaway (NYSE:BRK) (NYSE:BRK). The company looks to get shares back to positive year-to-date with its third-quarter financial results coming Tuesday before market open.

Earnings Estimates: Analysts expect Domino’s to report third-quarter revenue of $1.14 billion, up from $1.08 billion in last year’s third quarter, according to data from Benzinga Pro.

The company has missed analyst revenue estimates in eight of the last 10 quarters.

Analysts expect Domino’s to report third-quarter earnings per share of $3.98, down from $4.19 in last year’s third quarter.

The company has beaten analyst estimates for earnings per share in eight of the last 10 quarters.

Read Also: Market Expert Jay Woods Highlights ‘Interesting’ Trades By Warren Buffett: ‘Is The Style Of Berkshire Getting More Active Than Passive?’

What Analysts Are Saying: Analysts have been lowering their price targets on Domino’s in recent weeks ahead of the quarterly results.

Here are some of the recent analyst ratings on Domino’s and their price targets:

• Jefferies: Maintained Hold rating, lowered price target from $490 to $455
• Piper Sandler: Maintained Neutral rating, lowered price target from $477 to $443
• Barclays: Maintained Underweight rating, lowered price target from $425 to $405
• Wells Fargo: Maintained Equal Weight rating, lowered price target from $490 to $450
• Morgan Stanley: Maintained Overweight rating, raised price target from $520 to $535

Key Items to Watch: Berkshire Hathaway began buying shares of Domino’s Pizza in the third quarter of 2024 and has grown its stake in recent quarters.

In the second quarter, Berkshire grew its position by 1%, adding to the 10% increase in the first quarter, marking two increases so far in 2025.

As of the end of the second quarter, Berkshire Hathaway owns 2,633,868 shares of Domino’s, representing around 7.8% of the company. At a value of around $1.1 billion, the stake represents approximately 0.4% of Berkshire Hathaway’s investing portfolio, as reported by CNBC.

In November, a new 13F filing from Berkshire Hathaway will reveal whether the conglomerate bought more shares of the pizza company, sold shares, or maintained its stake.

Domino’s financial results have been mixed in recent quarters, with a strong history of beating earnings per share estimates, while missing revenue estimates. In the second quarter, this trend was reversed, with revenue beating estimates and earnings per share coming in slightly below.

The company reported a 4.3% year-over-year increase in revenue in the second quarter, with supply chain revenue and franchise royalties and fees highlighted as reasons for the growth.

Revenue gains came with global retail stores up 5.6% year-over-year for the company in the second quarter, with U.S. same-store sales up 3.4%. The company’s CEO Russell Weiner highlighted strong delivery and carryout growth for the U.S. region, helping to boost market share gains for the pizza category in the country.

International expansion and sales could be a topic of discussion on Tuesday. In the second quarter, the company reported international same-store sales growth of 2.4% year-over-year. The company added 178 net new locations in the second quarter, with 148 new international locations.

Rival pizza chain Papa John’s International (NASDAQ:PZZA) recently announced plans to have 650 locations in India by 2035, a market the company exited in 2017.

Domino’s is one of the biggest pizza companies in the country, with around 2,200 locations, while Pizza Hut has around 950 locations. This re-entry by Papa John’s could quickly eat into Domino’s market share in the region.

Company rebrands and logo changes have a mixed history of success, with a recent launch by Cracker Barrel among the most talked-about items in the restaurant sector in 2025. Domino’s is hoping its makeover goes over better than that.

The company’s brand refresh is its first in 13 years and includes a focus on its red and blue colors, new employee uniforms, new pizza box designs and a new jingle from Grammy-award winner Shaboozey, as reported by CBS News.

Domino’s is hoping its brand refresh helps the company reach younger customers.

“Most companies rebrand themselves when they’re struggling, but after years of category-defying growth, this refresh is about continuing to push to be the best version of ourselves,” Domino’s Global Chief Marketing Officer Kate Trumbull said, as shared by CBS.

Domino’s has over 21,500 stores worldwide and has been a market share gainer in the restaurant and pizza sectors, thanks to an early focus on mobile ordering.

DPZ Price Action: Domino’s stock is up 0.7% to $409.17 on Monday versus a 52-week trading range of $397.12 to $500.55. Shares are down 5.9% year-to-date in 2025.

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Photo: Yalcin Sonat On Shutterstock.com

Health care giant Johnson & Johnson (NYSE:JNJ) has had a good year with its shares trading near all-time highs. The company looks to keep a trend of beating analyst estimates when third-quarter financial results are reported before market open Tuesday.

Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.

Earnings Estimates: Analysts expect Johnson & Johnson to report third-quarter revenue of $23.74 billion, up from $22.47 billion in last year’s third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in five straight quarters and in nine of the last 10 quarters overall.

Analysts expect Johnson & Johnson to report third-quarter earnings per share of $2.75, up from $2.42 in last year’s third quarter.

The company has beaten analyst estimates for earnings per share in more than 10 straight quarters.

Read Also: Retail Investors’ Top Stocks With Earnings This Week: Fastenal, ASML, TSMC And More

What Experts are Saying: A strong second-quarter and raised guidance may have kick-started a rally in Johnson & Johnson shares in recent months.

“Johnson & Johnson is quietly having a banner year,” Freedom Capital Markets Chief Market Strategist Jay Woods said in a weekly newsletter. “In June, shares broke out of a nearly five-year neutral range and are up 30% year-to-date.”

The market expert said the quarterly results and guidance helped boost shares, along with favorable guidance on any potential impact from tariffs.

Another reason for Johnson & Johnson shares trading higher, according to Woods, is the company separating off its consumer health business as Kenvue Inc (NYSE:KVUE).

“Now they have been able to focus on pharma innovation and medical devices, which tend to command higher growth and margins and have avoided the cloud that the Tylenol controversy has caused KVUE.”

Woods said analyst expectations on Johnson & Johnson stock could be raised after Tuesday’s report.

“Over the long term, this is a stock that should continue to trend higher. It has turned things around fundamentally and now technically.”

Here are recent analyst ratings on Johnson & Johnson and their price targets:

• Morgan Stanley: Maintained Equal-Weight rating, raised price target from $176 to $178
• Goldman Sachs: Maintained Buy rating, raised price target from $186 to $212
• Citigroup: Maintained Buy rating, raised price target from $200 to $213
• Bernstein: Maintained Market Perform rating, raised price target from $172 to $193
• Bank of America: Maintained Neutral rating, raised price target from $175 to $198
• Wells Fargo: Upgraded from Equal-Weight to Overweight, raised price target from $170 to $212

Key Items to Watch: Johnson & Johnson’s second-quarter results saw several drugs highlighted for their strong growth, helping to offset negative impacts from Stelara in immunology and COVID-19 in infectious diseases.

Stelara sales were down 42.7% year-over-year and will be one of the many items to watch.

Overall, cancer drug sales were up 24% year-over-year to $6.31 billion in the second quarter, helping offset a 15.4% year-over-year decline for Immunology sales for the quarter.

The company’s MedTech unit saw sales up 7.3% to $8.54 billion in the second quarter and will be an area to watch with the company’s renewed focus on innovative medicine and medtech after spinning off its consumer business.

Guidance will be one of the most watched items in the report with the company previously raising guidance for both full-year revenue and full-year earnings per share after the second quarter results.

Analysts and investors may be expecting the company to beat and raise once again. Failure to raise guidance again could put pressure on shares and the recent rally.

Another area to watch will be M&A activity for the company and what management has to say about potential deals and cash usage.

The company is in reported discussions to acquire Protagonist Therapeutics (NASDAQ:PTGX), a company with which has an existing collaboration.

Acquiring the company outright could provide a boost to its immunology business segment, which is facing pressure as Stelara faces increased competition.

JNJ Price Action: Johnson & Johnson stock is down 0.18% to $190.38 on Monday versus a 52-week trading range of $140.68 to $192.10. Shares are up 32.1% year-to-date in 2025.

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PepsiCo Inc (NASDAQ:PEP) aims to silence analysts who are lowering the stock’s price target and an activist investor pushing for changes when it releases third-quarter financial results Thursday before the market close.

Here are the earnings estimates, what experts are saying about the beverage giant, and the key items to watch.

Earnings Estimates: Analysts expect PepsiCo to report third-quarter revenue of $23.83 billion. Benzinga Pro data shows $23.32 billion in last year’s third quarter.

The company has beaten analyst estimates for revenue in three consecutive quarters. It also exceeded analyst estimates in seven of the last 10 quarters overall.

Analysts expect PepsiCo to report third-quarter earnings per share of $2.26, down from $2.31 in last year’s third quarter. The company beat analyst estimates in the second quarter and has beaten estimates in nine of the last 10 quarters overall.

Read Also: How To Earn $500 A Month From PepsiCo Stock Ahead Of Q3 Earnings

What PepsiCo Experts Say

“PepsiCo shares remain under pressure,” Freedom Capital Markets Chief Market Strategist Jay Woods said in his newsletter.

PepsiCo stock has underperformed Coca-Cola (NYSE:KO) year-to-date. That’s among the reasons why Woods said Pepsi needs to “deliver more than just a decent quarter,” he adds.

The market expert said Pepsi faces pressure that includes Robert F. Kennedy Jr.’s attack on processed foods, pressure on margins, weaker innovation relative to peers and a tough environment for consumer goods.

“It would help to see a surprise on margins, slow innovation momentum and, most importantly, offer confident guidance. Pepsi needs to reenergize investor confidence as price action has been flat for the last three years.”

Woods said the $145/$146 level is what to watch heading into earnings. The market expert said a short-term rally could take shares to $156.

“Long-term we may be in the midst of a turnaround as well. This should take longer to play out – give it another quarter, maybe two – but could bode well for the longer-term investor.”

Bank of America Securities analyst Peter T. Galbo says PepsiCo remains a “defensive” play due to its strength in the beverages and snacks sectors.

Galbo maintained a Neutral rating on PepsiCo with a $150 price target.

The analyst said PepsiCo is likely to deliver steady returns to investors, balancing growth with dividends and share buybacks.

Here are other recent analyst ratings on PepsiCo and their price targets:

• JPMorgan: Maintained Neutral rating, lowered price target from $157 to $151
• Barclays: Maintained Equal-Weight rating, lowered price target from $144 to $140
• Citigroup: Maintained Buy rating, lowered price target from $168 to $165
• Wells Fargo: Maintained Equal-Weight rating, lowered price target from $154 to $150

Key Items to Watch

Pepsi’s report comes after activist investor Elliott Investment Management announced a $4 billion stake in the beverage company and a push for changes.

Among the proposed changes from Elliott are spinning off the North American bottling operations, cutting underperforming brands, reducing manufacturing costs, planning a new strategy, and focusing on core brands to regain market share.

The push for changes comes with PepsiCo stock trailing Coca-Cola and the company also losing market share in the U.S. soda sector, with the Pepsi brand now ranking fourth in U.S. sales, trailing Coca-Cola, Dr Pepper and Sprite.

Pepsi recently announced an agreement with Celsius Holdings (NASDAQ:CELH) that will expand the beverage giant’s distribution.

Investors and analysts will be looking to hear how the partnership is helping Pepsi in the non-carbonated soda market.

Another area to watch will be the company’s international markets. CEO Ramon Laguarta highlighted the company’s strong momentum for international in the second quarter, with International Beverages up 3% year-over-year and Europe, Middle East and Africa sales up 8% year-over-year.

“We will continue to build upon the successful expansion and growth of our international business and accelerate initiatives to improve our North America business performance,” Laguarta said at the time.

The company raised its full-year earnings per share guidance after second-quarter results. Analysts and investors will be watching to see if guidance gets raised again.

PEP Price Action: Pepsi stock is down 1% to $139.32 on Wednesday, versus a 52-week trading range of $127.60 to $177.50. Pepsi stock is down 8.4% year-to-date in 2025. The company trails the 7% year-to-date return of rival Coca-Cola, which reports its quarterly results on Oct. 21.

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• Celsius Takes Control Of Energy Drink Aisle With PepsiCo Partnership

Image: Shutterstock

Delta Air Lines (NYSE:DAL) is expected to provide an update on how the government shutdown is impacting the airline sector when the company reports its third-quarter financial results on Thursday before the market opens.

Here are the earnings estimates, what experts are saying ahead of the report and key items to watch.

Earnings Estimates: Analysts expect Delta Air Lines to report third-quarter revenue of $15.04 billion, down from $15.68 billion in last year’s third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in more than 10 straight quarters.

Analysts expect the company to report third-quarter earnings per share of $1.52, up from $1.50 in last year’s third quarter.

Delta has beaten analyst estimates for earnings per share in three straight quarters and in seven of the last 10 quarters overall.

Guidance from the company calls for revenue to be up 0% to 4% year-over-year and earnings per share to be in a range of $1.25 to $1.75.

Read Also: How To Earn $500 A Month From Delta Air Lines Stock Ahead Of Q3 Earnings

What Experts Are Saying: Recent earnings reports have been favorable for Delta Air Lines stock, according to Freedom Capital Markets Chief Market Strategist Jay Woods.

“Delta earnings reactions have been stellar in 2025, but the stock keeps stalling and descending after results,” Woods said in a weekly newsletter.

The market expert noted that Delta’s recent quarters have yielded strong results and raised outlooks, but the stock has declined due to concerns about its main cabin economy business.

“In January, the stock snapped an eight-quarter losing streak as shares jumped 9% following its earnings report. They experienced even larger gains over the next two quarters. In April, shares rose 23.4% and last quarter the stock jumped another 12%.”

Woods said another earnings surprise and confident guidance would be “the ingredients to break out and climb higher.”

Here are recent analyst ratings for Delta Air Lines and their price targets:

• Susquehanna: Maintained a Positive rating, raised price target from $65 to $68
• Jefferies: Upgraded from Hold to Buy, with a price target of $70
• Evercore ISI Group: Maintained Outperform rating, raised price target from $70 to $75

Key Items to Watch: Delta Air Lines’ quarterly report comes amid a government shutdown. While airlines are still operating, there will be no hiring and training of new federal aviation employees, like air traffic controllers and TSA agents.

With some employees not receiving pay during the government shutdown, airlines and airports have warned of potential backups and delays. The company could provide an update on this and any related financial impact for the current quarter.

Delta’s report also comes shortly after two regional jets collided while taxiing at LaGuardia Airport in New York. The incident, which left one flight attendant injured, could be a topic of discussion among analysts regarding safety and recent events.

The company’s second-quarter results saw strength in premium cabin and loyalty revenue, which could be areas that investors and analysts focus on during the results. These higher margin segments could help the company’s overall earnings.

Delta restored its full-year guidance for earnings per share in a range of $5.25 to $6.25 and free cash flow in a range of $3 billion to $4 billion, following its second-quarter results.

The company maintaining, lowering or raising its guidance along with comments about demand, margins and the shutdown could also be the keys to where shares trade on Thursday.

DAL Price Action: Delta stock is up 1.1% to $57.25 on Wednesday, versus a 52-week trading range of $34.74 to $69.98. Delta stock is down 3.1% year-to-date in 2025.

Read Next:

• US Aviation Sector Plagued By Delays, Staffing Disruptions As Government Shutdown Continues

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