2012 Q2 Earnings Season Scoreboard & Calendar
As promised, here's the latest report card on Q2 earnings season: Not great thus far.
Actually, earnings haven't been disastrous. Alcoa (AA) topped estimates, and even with a huge trading loss, JPMorgan (JPM) did better than the worst-case scenario many analysts were expecting. Marriott (MAR) and Fastenal (FAST) also both topped estimates, and Well Fargo (WFC) aced it.
On the flipside, only about half of the S&P 500's major companies have outdone earnings levels from Q2 of last year. And, a whole slew of tech companies - 25 to be precise - have warned that Q2's and/or Q3's bottom lines would be weaker than first thought. Among them are Applied Materials (AMAT), AMD (AMD) and Adtran (ADTN). It doesn't exactly leave investors feeling warm and fuzzy.
As of Thursday, Standard & Poor's expects the S&P 500 (SPX) (SPY) to 'earn' $24.94 per share... not as strong as initial outlooks, but still the second-best quarter ever, and a record Q2 for any given year.
This week will bring a heck of a lot more earnings announcements to the table. Here are the bigger ones that could be market moving.