Monthly Archives: May 2015

Earnings Season End Draws Near

For the most part, the major focus on earnings announcements has drawn to a close for the quarter. As of this morning, 463 of the S&P 500 companies have reported their quarterly earnings. Of those companies, 67.5% posted Earnings Per Share (EPS) higher than estimates. A few additional earnings reports trickled in this week. Most notably, Cisco Systems (CSCO) reported strong earnings on a turnaround in sales of switching systems. Overall, Cisco reported earnings of $0.47 per share, up from $0.42 per share a year earlier. Continue reading

Market Recap

The markets saw some volatility this week as some additional earnings reports came in. As of this morning, 447 companies in the S&P 500 have now reported their quarterly earnings. Of those companies, 71% reported earnings higher than expected, while 45% reported revenues higher than expected. With most of the S&P 500 companies reporting, we can provide an update on how various sectors performed. The Health Care sector experienced the highest year-over-year earnings growth rate, with 22.3%*, led largely by Gilead. Continue reading

Fed Meeting

The Federal Open Market Committee (FOMC) wrapped up its meetings on Wednesday. Overall, little was expected to come out of this meeting, and for the most part, little did. However, there were a few items that were worth noting. First, the FOMC acknowledged the economy weakened in the first quarter, but also stated they believe it was temporary and due to weather-related factors. Also, the FOMC removed any hint of guidance regarding interest rate hikes, whereas in their last meeting they stated they would not raise rates in April. This seems to be the FOMC trying not to paint themselves into a corner, as it leaves open the possibility of interest rate hikes at any time. Continue reading