The earnings season has lost its overall market impact and investors' eyes are now entirely focused on economic data and the political debacle in Europe.
A quick wrap-up of the US earnings season shows that is has turned out better than feared at the beginning of the season. EPS growth is so far 4.9 percent YoY with an EPS surprise factor of 3.3 percent, which is slightly above the two previous quarters. Of the 379 companies in the S&P 500 Index which have reported earnings 266 have surprised positively, corresponding to a positive surprise factor of 70.2 percent.
Next week some major companies are set to report with Wal-Mart Stores and Home Depot as the most notable as they provide some insight on US consumer behaviour. Consensus is looking for EPS growth YoY of 8.5 and 16.7 percent at Wal-Mart and Home Depot respectively.
See our full earnings release publication.
Tuesday
Wal-Mart, Home Depot, Kraft Foods, Medtronic, Dell
Wednesday
France Telecom, Schneider Electric, HP
Thursday
British American Tobacco, Royal Bank of Scotland, AIG
Friday
Telefonica, Newmont Mining