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Earnings have been strong thus far in Q3, with some 20% of S&P 500 Index companies already reporting. Remaining reports will be important as a number of key industry players remain on tap to post results.
Today's hot stocks to watch include a telecom giant, two biotech firms, a pair of social media players, and more.
8 Hot Stocks to Watch Wednesday
Hot Stocks to Watch No. 1: AT&T Inc. (NYSE: T) reports Q3 results after the close. Expectations have the telecommunications giant posting EPS of $0.65, a penny shy of the $0.66 earned in the same quarter a year ago. Whisper numbers are for EPS of $0.66. Revenue is seen coming in at $33.26 billion, up from $32.16 billion year over year (YOY). Vying to attract consumers, AT&T announced Tuesday it will allow iPad customers to get double the data with AT&T Mobile Share. The stock, down 2.5% year to date, is a favorite among dividend investors for its hefty 5.37% yield.
Hot Stocks to Watch No. 2: The Boeing Co. (NYSE: BA) will report Q3 numbers before the open. The aircraft manufacturer is expected to post EPS of $1.97, up from $1.78 YOY. Whisper numbers are much more bullish, with EPS of $2.20. Revenue is seen coming in at $23 billion. Despite a strong Q2, in which BA beat on EPS and revenue, investors sent shares lower, unhappy with the company's defense, space, and security segments (down 5%). Still, Boeing is among the best space stocks to buy now. The company is working with Elon Musk's SpaceX to develop low-cost, safe transportation for astronauts headed to and from the International Space Station by 2017. The result will be the first U.S. manned craft since NASA retired its shuttle fleet in 2011.