With a full week of earnings calls coming to an end, it’s time to reflect on the fourth quarter reporting season so far. Overall, the news flow has been mixed, but the technology earnings have been severely disappointing.
Some of the big tech companies that didn’t make it are: Intel INTC When Texas Instruments TXN. chip equipment manufacturers KLA Corporation clutch When Lam Research Co., Ltd. LCRX It issued sub-level guidance, foreshadowing more pain for the semiconductor industry and the broader technology sector.
on the other hand, of Tesla TSLA Earnings came as a welcome relief, sparking a strong two-day rally in the stock.
Expectations are even lower: Composite earnings for the S&P 500 companies are expected to plunge 5% from the expected 4.6% decline for the week ended Jan. 20, according to estimates from financial data provider FactSet.
This is the first drop since Q3 2020, when the S&P 500’s earnings fell 5.7%.
Of the 29% of S&P 500 companies that have reported earnings to date, 69% reported higher than expected earnings and a modest 60% reported higher than expected earnings. Outperforming companies averaged 1.5% growth, below the one-year average of 4.5% and the five-year average of 8.6%.
Looking ahead, analysts expect earnings to decline in the first half before turning positive in the second half, according to FactSet. Revenue in the first and second quarters of 2023 is expected to decline by 3.7% and 10.3%, respectively. Growth will pick up sharply in the second half of the year and will grow by 3.4% for the full year.
The S&P 500 is up just over 6% year-to-date. Whether the market can sustain its rally will depend on the flow of earnings news, especially the forward commentary and his Fed decision due out Wednesday.
Here are the major companies that announced earnings the week of January 30:
Monday
1. NXP Semiconductors NV NXPI (after market close)
EPS forecast: $3.60 vs $3.20 1 year ago
Estimated earnings: $3.3 billion vs. $3.04 billion last year
2. whirlpool company WHR (after market close)
EPS forecast: $3.25 vs $6.14 1 year ago
Estimated earnings: $5.09 billion last year $5.82 billion
GE Healthcare Technologies, Inc. GEHCspun off from General Electric Company GEplans to report before the market opens.
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Tuesday
1. Caterpillar Inc. Cat (Before opening)
EPS forecast: $4.02 vs $2.69 1 year ago
Estimated earnings: $16.11 billion vs. $13.8 billion last year
2. ExxonMobil XOM (Before opening)
EPS forecast: $3.31 vs $2.05 1 year ago
Estimated earnings: $94.67 billion vs. $84.97 billion last year
3. general motors company GM (Before opening)
EPS forecast: $1.69 vs $1.35 1 year ago
Estimated earnings: $40.65 billion vs.$33.58 billion last year
Four. McDonald’s Co., Ltd. MCD (Before opening)
EPS forecast: $2.45 vs $2.23 1 year ago
Estimated earnings: $5.67 billion vs. $6.01 billion last year
Five. Pfizer PFE (Before opening)
EPS forecast: $1.06 vs $1.08 1 year ago
Estimated earnings: $24.47 billion vs. $23.84 billion last year
6. Spotify Technology SA spot
EPS forecast: (-$1.39) vs. (-$0.23) 1 year ago
Estimated earnings: $3.44 billion vs. $2.74 billion last year
7. United Parcel Service Co., Ltd. UPS (Before opening)
EPS forecast: $3.59, flat YoY
Estimated earnings: $28.09 billion, $27.77 billion last year
8. Advanced Micro Devices, Inc. AMD (after closing)
EPS forecast: $0.67 vs $0.92 last year
Estimated earnings: $5.5 billion vs. $4.83 billion last year
9. Snap Co., Ltd. snap (after closing)
EPS forecast: $0.11 vs $0.22 last year
Estimated earnings: $1.3 billion, roughly flat with last year
Ten. Amgen AMGN (after closing)
EPS forecast: $4.08 vs $4.36 last year
Estimated earnings: $6.76 billion vs. $6.85 billion last year
Electronics Arts Co., Ltd. EAs When Western Digital WDC Among other notable names to report after the market closes.
Four constituents of the Dow — Caterpillar, McDonald’s, Pfizer and Amgen — are due to release quarterly reports on Tuesday. The industrial sector posted his second-largest profit growth among companies reported last week. boeing Bachelor and airlines. Caterpillar and GM could help sustain sector strength this week.
Exxon results follow peers Chevron Corporation CVX, reported a record full-year profit last week. His earnings per share in the fourth quarter fell short of expectations, but earnings beat expectations.
AMD’s results could also stir fears among investors after rival Intel’s fourth quarter flop. Snap is coming out of a string of weak quarterly results, and it remains to be seen if Snapchat’s parent company is out of the woods.
Wednesday
1. Humana Co., Ltd. ham (Before opening)
EPS forecast: $1.46 vs $1.24 a year ago
Estimated earnings: $22.5 billion vs. $21.2 billion last year
2. Novartis NVS (Before opening)
EPS forecast: $1.43 vs $1.40 1 year ago
Estimated earnings: $13.13 billion vs. $13.23 billion last year
3. Meta Platforms Inc. meta (after closing)
EPS forecast: $2.21 vs $3.67 last year
Estimated earnings: $31.49 billion vs. $33.67 billion last year
Four. eBay Ebay (after closing)
EPS forecast: $1.06 vs $1.05 Last Year
Estimated earnings: $2.46 billion vs. $2.61 billion last year
Boston Scientific, Inc. (NYSE BSX), T-Mobile US, Inc. TMUS and COLBO Co., Ltd. QRVO One of the other notable companies reported on Wednesday.
Thursday
1. ConocoPhillips policeman (Before opening)
EPS forecast: $2.82 vs $2.27 last year
Estimated earnings: $18.03 billion vs.$15.96 billion last year
2. Cardinal Health CAH (Before opening)
EPS forecast: $1.14 vs $1.27 last year
Estimated earnings: $50.61 billion vs. $45.46 billion last year
3. Alibaba Group Holding Limited baba (Before opening)
EPS forecast: $2.40 vs $2.59 last year
Estimated earnings: $36.26 billion vs. $33.71 billion last year
Four. Apple. AAPL (after closing)
EPS forecast: $1.94 vs $2.10 last year
Estimated earnings: $121.67 billion vs. $123.94 billion last year
Five. Amazon Inc. AMZN (after closing)
EPS forecast: $0.17 vs $1.39 last year
Estimated earnings: $145.37 billion vs. $137.41 billion last year
6. Qualcomm Inc. Qucom (after closing)
EPS forecast: $2.35 vs $3.23 last year
Estimated earnings: $9.6 billion vs. $10.7 billion last year
7. ford motor company debt (after closing)
EPS forecast: $0.62 vs $0.26 last year
Estimated earnings: $40.37 billion vs.$35.26 billion last year
8. Alphabet Inc. Google goog (after closing)
EPS forecast: $1.19 vs $1.53 last year
Estimated earnings: $76.16 billion last year $75.33 billion
big pharmaceutical company Bristol-Myers Squibb Company BMY, Merck MRK When Eli Lilly & Company Lily All plan to report fourth quarter results before the market opens. Beezer Homes USA, Inc. BZHMore When Gilead Co., Ltd. guild is part of the post-trading report.
Apple Earnings and CEO Tim Cook’s Comments may provide clues about the outlook for the tech sector. Given the tough supply and demand conditions seen in Apple’s fiscal first quarter, investors will want to know how the tech giant weathered the crisis.
Amazon has shown less confidence given its core e-commerce business may be struggling with a slowdown in consumer spending. The company has seen slowing growth since the COVID-19 boom years. Microsoft’s MSFTMore Quarterly results that showed slowing cloud growth raised concerns about a similar predicament for Amazon’s AWS cloud business. AWS is one of the company’s higher-margin businesses, and a sharp slowdown could affect the e-commerce giant’s profitability.
Friday
1. Regeneron Pharmaceuticals, Inc. rain (Before opening)
EPS forecast: $10.11 vs $21.32 1 year ago
Estimated earnings: $3.14 billion vs. $4.95 billion last year
2. Signa Co., Ltd. CIs (Before opening)
EPS forecast: $4.86 vs $4.77 1 year ago
Estimated earnings: $45.71 billion last year $45.68 billion
3. Sanofi cut (Before opening)
EPS forecast: $0.90 vs $0.79 1 year ago
Estimated earnings: $12.01 billion vs. $11.42 billion last year
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photograph: Rosie Tulips on flickr