Earnings on Deck: AT&T Inc., General Motors Company, and Yelp Inc

Earnings season continues to wear on, and several popular names are slated to tell all tomorrow. Among them are telecom concern AT&T Inc. (NYSE:T), automaker General Motors Company (NYSE:GM), and business review site Yelp Inc (NYSE:YELP).

• AT&T Inc. (NYSE:T) is scheduled to step up to the earnings plate tomorrow evening, and the Street is looking for per-share earnings of 64 cents from the company. This quarterly event hasn't always been kind to the shares, as they've tended to dip in the days following T's last eight appearances in the confessional. In fact, the stock's average single-session loss over that time frame is 1.8%. Taking a step back, the equity is down 2.6% year-to-date to trade at $34.26, and is moving little today, despite last night's news that T will offer Apple Inc.'s (NASDAQ:AAPL) iPad Air 2 and iPad mini 3. On the sentiment front, short sellers have shown an affinity for T. Specifically, 4.1% of the security's float is sold short, which would take 12.4 sessions to buy back, at T's typical daily trading levels.
  
  
• General Motors Company (NYSE:GM), which will also report third-quarter earnings on Wednesday, was hit with a pair of downbeat brokerage notes earlier. Specifically, Susquehanna initiated coverage with a "neutral" rating and $30 price target, while J.P. Morgan Securities cut its price target to $47 from $51, but reiterated its "overweight" opinion. Given GM's technical struggles -- the shares are down roughly 25% year-to-date to hover near $30.60 -- additional negative revisions could be in the cards. After all, eight out of the 13 analysts following the equity have doled out "buy" or better recommendations, and GM's consensus 12-month price target of $41.20 stands at an almost 35% premium to the current share price. As mentioned above, the company will release its quarterly numbers tomorrow, and the Street is expecting a profit of 95 cents per share. Following GM's most recent report -- a significant earnings miss in late July -- the shares fell 4.5% in the subsequent session.
  
  
• Finally, Yelp Inc (NYSE:YELP) is up 1.2% today to trade at $69.61, but is barely above breakeven for the year. Tomorrow evening, the company will publish its third-quarter results, and shareholders are hoping things will go better than they did in late July, when an earnings miss sent the stock 11.2% lower in the ensuing session. In options land, traders have been upping the bullish ante in advance of Wednesday night's event. YELP's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.81 ranks in the optimistically skewed 85th percentile of its annual range.