The second half of the season kicks off with AAPL and F
The second half of the earnings season gets underway this week, with a ton of major companies slated to report. Roughly 150 S & P 500 companies are scheduled to post their latest quarterly earnings, including Apple, Starbucks and Pfizer. For the most part, companies thus far have outperformed the muted expectations for this reporting period. Of the nearly 270 S & P 500 members that have reported calendar first-quarter earnings, 79.5% have beaten estimates, FactSet data shows. That’s about in line with a three-year average beat rate, according to Nick Raich of The Earnings Scout. Here are some of the big names slated to report next week, and what to expect from them. Tuesday Pfizer is set to report earnings before the bell. Management will hold a call at 10 a.m. ET. Last quarter: PFE said it sees 2023 sales falling by as much as 33% year over year. The company did, however, post better-than-expected adjusted earnings. This quarter: The pharmaceutical giant’s earnings are expected to have fallen sharply year over year, Refinitiv data shows. What CNBC is watching: This will be the first quarterly report since Pfizer announced its $43 billion takeover of cancer drugmaker Seagen. Investors will be looking for updates on that front, as well as for clues on other measures taken to mitigate declines in Covid-related sales. What history shows: Data from Bespoke Investment Group shows Pfizer beats earnings expectations 87% of the time. The stock has also done well in recent earnings days, advancing more than 1% after three of the last four reports were released. Ford Motor is set to report earnings after the close, followed by a call at 5 p.m. ET. Last quarter: F posted a net loss for the full year along with weaker-than-expected earnings. This quarter: Analysts expect Ford’s earnings rose about 8% year over year, Refinitiv data shows. What CNBC automotive reporter Michael Wayland is watching: “Ford Motor will look to regain investor confidence with its first-quarter results following the automaker’s fourth-quarter earnings missing Wall Street’s expectations and its 2022 earnings falling short of the company’s full-year guidance. The Detroit automaker has been under increasing pressure to…
https://applesecrets.com/wp-content/uploads/2023/04/107221032-16807085052023-04-05t152252z_1937847759_rc2d80arkmr2_rtrmadp_0_apple-india-retail.jpeg10801920AppleCrisphttps://applesecrets.com/wp-content/uploads/2020/11/ASLogo5.pngAppleCrisp2023-04-30 12:35:212023-04-30 12:35:21The second half of the season kicks off with AAPL and F
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