Home News Third-Quarter Reports: S&P 500 Companies Return to Earnings Growth

Third-Quarter Reports: S&P 500 Companies Return to Earnings Growth

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This week, the focus will be on the third-quarter reports of S&P 500 companies as they are expected to make a comeback in earnings growth. After a busy week featuring a Federal Reserve meeting, jobs data, and U.S. Treasury funding announcements, the economic front will take a quieter tone.

Wednesday’s Highlights

On Wednesday, we can expect significant updates from Kellanova, MGM Resorts International, Roblox, Walt Disney, and Warner Bros. Discovery. Moreover, AstraZeneca and Becton Dickinson will share their quarterly results on Thursday.

Economic Calendar

The economic calendar will feature the release of Federal Reserve consumer credit data for September on Tuesday. Additionally, on Friday, the University of Michigan will unveil its Consumer Sentiment index for November.

Here is a breakdown of the upcoming company announcements,

Monday 11/6

  • BioNTech
  • Celanese
  • Constellation Energy
  • Coterra Energy
  • Diamondback Energy
  • NXP Semiconductors
  • Realty Income
  • Vertex Pharmaceuticals

Tuesday 11/7

  • Air Products and Chemicals
  • DaVita
  • Devon Energy
  • D.R. Horton
  • eBay
  • Emerson Electric
  • Fidelity National Information Services
  • Gilead Sciences
  • KKR
  • Occidental Petroleum
  • Uber Technologies
  • UBS
  • Zimmer Biomet Holdings

Stay tuned for further developments and updates from these prominent companies.

Consumer Credit Data for September

According to the Federal Reserve, the consumer credit data for September has been released. In August, the total consumer debt experienced a decline, falling at a seasonally adjusted annual rate of 3.8% to reach $4.97 trillion. However, there was a notable increase in revolving credit, primarily due to credit card debt, which jumped by 13.8%. On the other hand, nonrevolving credit, including mortgages and auto loans, declined by 9.8%, reflecting the slowdown in the housing market.

Wednesday 11/8

On Wednesday, November 8th, several companies will be reporting their quarterly results. These companies include Biogen, Corteva, Kellanova, MGM Resorts International, Roblox, Take-Two Interactive Software, Walt Disney, and Warner Bros. Discovery.

Thursday 11/9

On Thursday, November 9th, several companies will be holding conference calls to discuss their earnings. These companies include AstraZeneca, Becton Dickinson, Brookfield, Hologic, Illumina, Sony Group, Tapestry, Trade Desk, TransDigm Group, and Wynn Resorts.

Friday 11/10

The University of Michigan is set to release its Consumer Sentiment index for November on Friday, November 10th. The consensus estimate for this reading is 63.9, which is approximately equal to the October figure and significantly below historical averages. It is worth noting that consumers’ expectations for year-ahead inflation in October stood at 4.2%, marking a one percentage point increase from September and the highest reading since May.

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