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.
Does a photo show US troops stationed in Taiwan’s Kinmen islands? — Radio Free Asia
VOX POPULI: Ippei Mizuhara’s interpretation skills make the news even sadder
Wild weather: What to expect this weekend
Corrections defends pace of change: 'There is no reluctance'
Tom Schwartz rates Las Vegas kiss with Scheana Shay a FIVE as he brands it 'weird': 'So platonic'
Over half of Brazilians live on the coast, 2022 Census shows
‘Robust' US has helped improve global economic outlook, IMF chief says
Possible TikTok ban revived as part of House foreign aid package
Woman dies after ambulance takes hour to respond to emergency call
Meet TikTok's NEWEST queen bee Leah Halton: Stunning Australian model, 23, is set to become the most
Crash snarls Auckland Harbour Bridge traffic