As earnings season rolls into its heart, hopes rise for broader gains
Time:2024-05-20 05:54:35 Source:businessViews(143)
NEW YORK (AP) — As the heart of earnings reporting season arrives on Wall Street, investors hope that many more voices will be joining the chorus of companies reporting stronger profits.
Last year, Big Tech stocks were behind much of corporate America’s profit growth, and thus behind the majority of the gain for the S&P 500. Just seven companies accounted for all of the U.S. market’s profit expansion over the last four quarters, according to UBS.
But as defense contractors and other big industrial companies line up to report their latest results, the hope is that profit growth will broaden out to a wider range of companies.
Consider General Dynamics, which reports results Wednesday. Analysts forecast its earnings per share jumped nearly 12% from a year earlier, according to FactSet. That would be a big acceleration from last year’s first-quarter growth of roughly 1%. The company is expected to benefit from solid demand for its Gulfstream business jets and from European defense agencies.
You may also like
- The one American city that's almost beaten the war on inflation
- American soldier was arrested in Russia and accused of stealing from a girlfriend, US officials say
- Aaron Taylor
- Anne Hathaway and husband Adam Shulman join Kate Hudson at Derek Blasberg's star
- I'm a luxury hotel manager
- Mystery as California firefighters find two dead bodies inside 'human
- Christina Hendricks recreates her wedding for her Alzheimer's
- Zendaya wows in a glamorous vintage backless dress as she attends Anna Wintour's star
- I'm a luxury hotel manager