Hope has been the primary fuel for those who have been
bullish on the market through its darkest days. And keeping
hope alive has certainly paid off over the past seven
months.
Since its March 9 bottom, the S&P 500 index has soared
56%, bringing us to a 32% loss on that index since this time
two years ago. The excitement has been driven by a number of
factors.
For one, many investors believed that concern over the
financial crisis turned into outright panic and stocks
simply fell too low. Many have also pointed to the
cost-cutting moves that many companies have made and are
looking for that to feed the bottom line. And there's also
been hope stirring recently that the economy is starting to
turn back around and renewed growth will give earnings a
helping hand.
So what about those earnings?
After
Alcoa 's earnings announcement today
officially kicks off third-quarter earnings season, we're
going to very quickly be inundated by earnings reports. The
first few weeks of earnings season will be the most
important, as investors will be looking to rapidly form
conclusions about both third-quarter performance and the
outlook for the final three months of the year.
Here's a look at a few of the major earnings announcements
over the next couple of weeks and what Wall Street is
expecting.
Company
Earnings Date
Earnings Expectation
Expected Earnings Growth (YOY)
PepsiCo (NYSE: PEP)
10/8/09
$1.03
(3%)
Johnson & Johnson (NYSE: JNJ)
10/13/09
$1.13
(3%)
JPMorgan Chase (NYSE: JPM)
10/14/09
$0.48
336%
Nokia (NYSE: NOK)
10/15/09
$0.18
(64%)
Goldman Sachs (NYSE: GS)
10/15/09
$4.16
130%
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