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.
District attorney says Memphis police officer may have been killed by friendly fire
Scientific Team Contributes to Large Research Infrastructures for Country
Singing About a World with 'Beauty and Togetherness'
CPC Delegate Committed to Subway Safety
The number of Americans applying for jobless benefits holds steady as labor market remains strong
Decades of Safeguarding Mountains, Forests
Calls for Universal Credit to be reformed as the number of those on long
How China Transformed into a Leading Economy
Browns' draft still affected by Deshaun Watson trade. Team without first
Bringing Traditional Chinese Opera to Wider Audience
250,000 Afghan children need education, food and homes after returning from Pakistan, says NGO
Using Fingertips to Create Happiness