USB - Goldman Morgan Stanley Alcoa On Tap This Week As Q4 Earnings Picks Up Pace: Fund Manager Tells Why 2024 Guidance Is 'Much More Important' | Benzinga
The fourth-quarter reporting season kicked off with earnings releases from major banks last Friday, delivering less-than-optimistic news and casting a shadow on profit growth prospects.
The Season So Far: As of now, 6% of S&P 500 companies have reported earnings. According to FactSet’s latest weekly Earnings Insight report, 76% of them reported positive earnings surprises, and 55% reported revenue exceeding estimates.
JPMorgan Chase & Co. (NYSE:JPM) reported a revenue beat but faced earnings pressure due to costs linked to regional bank bailouts. Despite reaching a record annual revenue in 2023, Bank of America Corp. (NYSE:BAC) missed revenue expectations.
UnitedHealth Group, Inc. (NYSE:UNH) experienced a share pullback due to concerns over higher medical costs, and Delta Air Lines, Inc. (NYSE:DAL) witnessed a significant drop on Friday following disappointing guidance.
Earnings Drop Looms? Projections indicate a potential negative 0.1% blended year-over-year earnings growth for S&P 500 companies, marking a potential negative profit growth for the fourth time in the past five quarters, according to FactSet. Four S&P 500 ...