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.
Depleted New Zealand batting first against Pakistan in T20
Tightening her grip on greatness
China, Indonesia communicating over chemical plant blast
Daihatsu suspends vehicle shipment over safety scandal
The Arizona Coyotes are officially headed to Salt Lake City
Medal hero keeping the kung fu spirit alive
Beijing 2022 innovates green standard for snow venues
Enterprises bullish on supply chain expo
Liquor sales in movie theaters, to
U.S. chip company Micron settles IP lawsuit with Chinese firm
New York man pleads guilty to sending threats to state attorney general and Trump civil case judge
Roundup: Morocco steal limelight on day of World Cup drama