These 5 prominent U.S. companies are most at fault for the earnings recession:
Financial results from the calendar second quarter showed earnings for S&P 500 SPX, -0.14% components falling for the second consecutive quarter, a trend referred to as an earnings recession. Profits dropped 0.35% in the second quarter, based on companies that were in the index as of the end of the previous earnings season, following a 0.29% decline in the first quarter.
While Exxon’s earnings drop wasn’t the largest within the energy sector, the market-cap weighting of the S&P 500 means that the company’s results have a sizable impact on the index’s overall earnings performance. For example, Noble Energy Inc. NBL, -0.68% suffered a 158% drop in earnings for the second quarter, but its result had a comparably minor effect on S&P 500 profits. Exxon is nearly 30 times the size of Noble.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liberty Global backs Sunrise capital hike with 500 million sfr offerLiberty Global has offered to buy up to 500 million Swiss francs ($502.11 millio...
Read more »
Former NFL Player Pays For 500 Mammograms To Honor Late MotherHis mom died from breast cancer in 2014.
Read more »
This ETF can protect you from S&P 500 volatility and enhance your long-term returnsThe portfolio rules followed by the Trendpilot US Large Cap ETF would have led to market-beating returns over the past two boom-and-bust cycles.
Read more »
What to watch in third quarter earnings from U.S. companiesU.S. companies are preparing to report third-quarter results following a rocky f...
Read more »
In planning for next U.S. recession, economists say, don't fret about debtEconomists are divided about when the next U.S. recession will arrive, but they ...
Read more »
These 12 stocks are likely to smash earnings forecasts for the 9th quarter in a row, one Wall Street firm saysThousands of companies are set to begin reporting third-quarter earnings throughout the coming weeks.
Read more »