What to watch in third quarter earnings from U.S. companies
U.S. companies are preparing to report third-quarter results following a rocky f...
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 2, 2019. REUTERS/Brendan McDermid
“Investors may start to think that the worst of the earnings comparisons are behind us, and if the consensus emerges that we’ve passed the earnings trough in terms of year-over-year growth, that would be a positive for the market,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
(GRAPHIC: Expected third-quarter results by sector -
“Negative S&P 500 EPS growth in 3Q will be driven by sectors with the highest international revenue exposure,” David Kostin, chief U.S. equity strategist at Goldman Sachs, said in a report.
An equal-weighted basket of companies impacted by the trade war, created by Barclays, has underperformed the S&P 500 since the end of the second quarter through Thursday.
One issue that could confront large U.S. companies that derive much of their revenue from abroad is the stronger U.S. dollar. Since the end of the third quarter of 2018, the dollar strengthened more than 6% against the euro through the end of the third quarter this year, a potential pressure point as U.S. companies translate foreign earnings into the U.S. currency.
Among other high-profile companies that recently held IPOs, ride-hailing company Lyft Inc is expected to report quarterly results on Oct. 30, followed by rival Uber Technologies Inc, and later by workplace messaging firm Slack Technologies Inc and online pet products retailer Chewy Inc.Read more: Reuters Top News
Ready to be shocked ? This won’t be pretty,America is in a recession right now,this week will prove it and remember these companies have fudged the numbers to make it look better than it really is.The Trump economy. 👍🇨🇦
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