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.
Olivia Dunne congratulates LSU teammate on winning top award ahead of semifinals meet
Wellington job market already tough before public sector redundancies
Labour's Rachel Boyack confirms 26
New operators of Tūroa Ski Field reveal discounts for former life
Free agency left the Ravens with holes to fill as NFL draft nears, especially on the offensive line
Golriz Ghahraman's law career at risk if convicted, professor says
Fire kills 29 people at Istanbul nightclub during daytime renovations
'We will not be silenced': Gisborne council backs Māori wards
Missouri lawmakers back big expansion of low
Police call Interpol, ask public to help identify clothes on woman found dead in Gulf Harbour
Dropping the ball: Jags hope to end decades of ineptitude when it comes to drafting receivers early
Firearms Minister accused of misleading public on gun stats