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.
Related articles:
Related suggestion:
Carlos Carrasco pitches solid into the 6th inning, Guardians edge Red Sox 5Proposal would assure schools that cooperate fully in NCAA investigations avoid postseason banBills' Josh Allen credits receiver Stefon Diggs for being the caliber of QB he is todayWoman dies after riding on car's hood and falling off, police sayUS deports about 50 Haitians to nation hit with gang violence, ending monthslong pause in flightsAlabama lawmakers advance bill to strengthen state's weak open records lawHaleigh Bryant helps LSU gymnastics advance to team finals at NCAA women’s championshipExiled opposition official asks Hun Manet to help clear 2022 charges — Radio Free AsiaPalestinian American poet Fady Joudah receives $100,000 prizeThe Chicago Bears are poised to draft Caleb Williams with the No. 1 overall pick in the NFL draft
2.6102s , 6497.671875 kb
Copyright © 2024 Powered by As earnings season rolls into its heart, hopes rise for broader gains ,International Investigation news portal