div > div.group > p:first-child"> The first quarter reporting season is well underway, with about 20 percent of the S&P 500 having reported. From banks like J.P. Morgan Chase to motorcycle maker Harley-Davidson, companies have beat estimates at a pace of three-to-one, about in line with a normal quarter. But this quarter was expected to be anything but normal, with companies seeing the first decline in profits in three years.
Stocks were trading higher Tuesday, driven by optimism from a slew of solid earnings reports, and the S&P 500 was on track to potentially close at an all time high. The S&P was at 2,930 at mid-day, its previous high close from Sept. 20. "What struck me among the very early reports was the earnings beats were pretty strong, but the sales beats pretty weak. I think its tough to gauge the trend," said Lori Calvasina, who appeared on"Squawk on the Street."
"I thought people had marked down the year-on-year change too much," said Sam Stovall, CFRA chief investment strategist."I think the market was cautious heading into the earnings season, and now that earnings are coming out, I'm not surprised they're beating expectations." Social media company Twitter also surprised with better earnings. but it also grew monthly active users by 9 million, bringing its total to 330 million in the first quarter. Analysts had expected a decline in users.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
I just don’t get it. 🤨 so they were expecting earnings to decline by 2% fm last qtr but it only declined by 1.3% - so that’s a cause for celebration. Can’t you see the f*%ing trend 🤯
bbbbbuuuuuuuuuuut trump hater Krugman said we are heading for a recession!!!! what gives? he is he really that big a fool? im afraid so!!!
that's great! does that mean that earnings going forward are stronger than what came before? I remember when CNBC was a good source to help people get financially literate; now it's a pump site for banks/investment houses selling ad revenue.
Are earnings actually good or are estimates so low that it is easy to beat?
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 heads for new record close after strong earnings from broad range of companiesThe S&P 500 headed for a record close as Wall Street cheered strong quarterly profits from some of the largest publicly traded U.S. companies. Manipulated stock market.rigged! god i hate all this good news coming from the Trump tax cuts!!!! when is Obama gonna pipe up and take credit? he tried to destroy our economy and did a dam fine job of it!!!
Source: CNBC - 🏆 12. / 72 Read more »
Earnings are coming in, and higher costs are weighing on profit marginsEarly earnings returns from the first quarter are in, and there is a clear warning: higher wage costs, higher raw material costs, and higher transport costs are weighing on earnings. Sooooooooo inflation? You mean that there aren’t enough costs to squeeze out given the lack of growth to continue earnings momentum.. Rushed home to watch market close, saw this CNBC Tweet & thought “What genius at CNBC thought the article below was relevant to your target audience?” Don’t expect a reply JoeSquawk or jimiuorio but for God’s sakes, wake somebody up over there 👇🏻👇🏻
Source: CNBC - 🏆 12. / 72 Read more »
American banks’ earnings are boosted by retail businessThe retail divisions of America's biggest banks did well enough to boost overall profits, despite low trading volumes What a surprise 🙄
Source: TheEconomist - 🏆 6. / 92 Read more »
Dow's earnings reporters would give a 34-point boost to Dow's priceEarnings reports are giving a healthy boost to the Dow Jones Industrial Average , as the premarket share price moves in components that reported...
Source: MarketWatch - 🏆 3. / 97 Read more »
Canon shares fall on report that company plans to cut earnings guidance
Source: CNBC - 🏆 12. / 72 Read more »
Asia markets poised to gain as earnings season stateside kicks into high gearCrude prices surged to nearly six-month highs on Monday after the Trump administration announced that all oil buyers would need to cease imports from Iran by early May.
Source: CNBC - 🏆 12. / 72 Read more »
European markets seen slightly higher as investors brace for earnings delugeEquity markets in Europe are set to start Tuesday's session slightly higher as investors monitor a number of geopolitical issues and look ahead to a new earnings season. How to ensure your profits as an investor?
Source: CNBC - 🏆 12. / 72 Read more »
Here's what to expect when P&G reports earnings before the market opensP&G is coming off a strong fiscal second quarter in which its bet on raising prices paid off, helping to drive sales past investors' expectations. Analysts this quarter are expecting modest sales growth of half a percent.
Source: CNBC - 🏆 12. / 72 Read more »
Dow inches toward record territory as Coke, United Tech rally after earningsU.S. stocks on Tuesday edge higher amid of a barrage of quarterly results, including blue-chip consumer-focused companies, Coca-Cola Co., and Procter &...
Source: MarketWatch - 🏆 3. / 97 Read more »