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Q1 Ends; What to Expect from Earnings?
Friday, March 31, 2017
On this final day of calendar Q1, we can now reflect a bit on how 2017 is progressing from an investor perspective. With earnings projections dwindling ahead of Q1 earnings season in the next couple weeks — from more than 10% expected at the end of 2016 to as low as 5% according to some analysts today — we still nevertheless see our earnings recession period further and further in the rear view.
Of course, the best place to find out what to expect from earnings season can be found in this comprehensive report from Zacks Director of Research Sheraz Mian: Looking Ahead to Q1 Earnings Season. Both earnings and revenue projections are expected to be up year over year, though by not as much as earlier speculated.
By almost all accounts, Q1 was a solid quarter for the markets. The S&P 500 has gained 5.77% over this time period, the Dow is up 4.89% since the start of the quarter, and the Nasdaq has busted out nearly 9.9% over this time period, after nailing record highs in regular trading Thursday. As for the Dow, it is looking for the 6th straight positive quarter, which is its best streak since 2006.
Particular companies that have well outperformed during the quarter include some of the biggest names: Apple (AAPL - Free Report) +24%, Boeing (BA - Free Report) and Visa (V - Free Report) are up 14%, and Cisco (CSCO - Free Report) +12%. Conversely, Chevron (CVX - Free Report) and Verizon (VZ - Free Report) are down 8% on the quarter.
Elsewhere, Volkswagen has agreed to pay out $157 million in damages for its fraudulent diesel emissions settlement across 10 states, from Massachusetts to Washington state. That said, Volkswagen shares are up a tad in the pre-market, and have already made back roughly half what the company lost in 2015 as a result of the emissions scandal coming to light. The company is a Zacks Rank #2 (Buy) stock.
Mark Vickery
Senior Editor
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