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.
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?
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