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Once again, optimism over Q2's earnings season continues to underpin stocks. But for all of the talk on earnings, the official start to earnings season literally just started yesterday afternoon when Alcoa reported after the market's close. While they beat on both the top and bottom lines, they lowered their full year outlook and shares were down by more than -2.5% in after-hours trade.
But I would not be overly concerned about the less than auspicious start. Alcoa isn't the official kick-off to earnings season because it's a barometer of the rest of the market. Quite the contrary. Alcoa is only the so-called 'official' start of earnings season because it was once the first Dow component to report earnings. Just like Hewlett-Packard has been called the official end of earnings season because it used to be the last of the Dow components to report earnings.
Ironically, both AA and HPQ are no longer part of the Dow Jones Index. But after bookending earnings season for so long, that tradition has stuck, regardless of their current Dow non-membership status.
We will get another 196 companies reporting earnings by week's end. And then it really gets going with another 1,129 companies reporting next week.
Analysts have been remarking that this could be one of the best earnings season in years. But that doesn't mean you can just get into anything and expect to make money. There will be distinct winners and losers this earnings season. So you need to know what to look for to find those stocks with the highest probability of success.
If you get into the right ones, you could be up 10%, 20%, 30% or more in a single day if your stocks report a positive surprise. But a negative surprise could easily take that away. So be sure you read our latest commentary and learn how to find the big winners BEFORE they report...
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Which stocks is it picking now? You can find out until Sunday, July 22.
As tech companies continue to dominate the equity market, analysts expect earnings to be up 23.8% on 10.7% higher revenues in the second quarter. Read More »
The best way for investors to cash in on this growing trend is to identify companies displaying solid fundamentals and impressive Zacks' metrics. Read More »
Use Zacks ETF Rank to help you select the very best ETFs for your portfolio. This quantitative ratings system takes into account asset class forecasts as well as several ETF-specific factors.
All to give you a comprehensive account of a fund's potential before you invest your money.
Once again, optimism over Q2's earnings season continues to underpin stocks. But for all of the talk on earnings, the official start to earnings season literally just started yesterday afternoon when Alcoa reported after the market's close. While they beat on both the top and bottom lines, they lowered their full year outlook and shares were down by more than -2.5% in after-hours trade.
