SANM - Will Earnings Cheer Continue This Week? All Eyes On Disney Palantir Robinhood While Reddit Gears Up For Debut Quarterly Report | Benzinga
Earnings reports and a dovish stance from the Federal Reserve lifted stocks last week. Major indices reacted positively, particularly to earnings from high-profile companies that hold significant weight in the indexes.
Tech Giants Lead Charge: Apple, Inc. (NASDAQ:AAPL) and Amazon, Inc. (NASDAQ:AMZN) were top performers. Apple impressed investors with a record $110 billion stock buyback plan and better-than-expected guidance for the June quarter.
According to FactSet, a financial data analytics firm, 80% of S&P 500 companies have reported earnings so far. These reports have shown a higher-than-average percentage of companies exceeding earnings expectations and by a larger margin than usual.
FactSet estimates that S&P 500 companies’ blended year-over-year earnings growth is currently at 5%, up from 3.5% the prior week. This is the highest growth rate since Q2 2022.
Eight out of eleven S&P 500 sectors are experiencing earnings growth. Communication services, utilities, consumer discretionary, and IT are leading the pack, while energy, healthcare, and materials are lagging behind.
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Looking Ahead: This week will see earnings reports from 56 S&P 500 companies, including one from the Dow Jones Industrial Average. Investors will be watching earnings from restaurants, electric vehicle companies, media and entertainment companies, biotech companies, and tech companies. Walt Disney Company (NYSE:DIS) is expected to be a key focus due to its consumer exposure, while Reddit, Inc. (NYSE:RDDT) will be releasing its first-ever quarterly report as a public company.
Notable among the companies reporting earnings are:
Monday
- Before the bell: BioNTech ...