The stock market retreated for the week ended February 10, weighed down by some disappointing earnings and revised inflation data for December.
The scorecard so far: Fourth-quarter earnings season is well past the midpoint, with nearly 70% of S&P 500 companies reporting earnings so far, according to data compiled by FactSet. About 69% of S&P 500 companies that have reported earnings have reported positive earnings surprises, the report said. This is below the 5- and 10-year averages of 77% and 73%, respectively.
Factset also found that the companies that reported negative earnings surprises saw an average share price decline of 0.4% two days before the release through two days after the release. That’s better than the average 5-year decline of 2.2%, with Factset arguing that investors were in a less punitive mood amid very muted expectations.
According to FactSet, a more modest 63% reported fourth-quarter sales growth. Overall, fourth-quarter earnings for S&P 500 companies are expected to fall 3.3% year over year, marking the first decline since the third quarter of 2020, she added.
Earnings for 61 S&P 500 companies will be released next week, two of which are also Dow components.
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Here’s a compilation of notable companies reporting earnings this week:
Monday
1. Avis Budget Group, Inc. AUTOMOBILE (after the end)
EPS estimate: $6.79 vs. $7.08 a year ago
Revenue (estimated: $2.69 billion vs. $2.57 billion last year
2. IAC, Inc. IAK (after the end)
EPS estimate: -$0.27 vs. $1.76 a year ago
Revenue (estimated: $1.26 billion vs. $1.16 billion last year
3. Palantir Technologies, Inc. PLTR (after the end)
EPS estimate: $0.03 vs. $0.02 a year ago
Revenue (estimated: $502.25 million vs. $432.87 million last year
4. Lattice Semiconductor Corp. LSCC (after the end)
EPS estimate: $0.48 vs. $0.32 a year ago
Revenue (estimated: $175.17 million vs. $141.79 million last year
Tuesday
1. Coca-Cola Company…
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