Better-Than-Expected Earnings Fueling S&P 500 Index's Rally -- First Back-to-Back Weekly Gain Since June
The Paragon Report Provides Stock Research on Wal-Mart and Coca-Cola
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/24/12 -- The Standard & Poor's 500 Index recent rally has seen it reach a new two-month high. A string of better-than-estimated earnings and speculation that the poor economic data will force further stimulus from the Federal Reserve have pushed stocks higher. The SPDR S&P 500 ETF (SPY) has gained over 3 percent in the last week. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Wal-Mart Stores, Inc. (NYSE: WMT) and The Coca-Cola Company (NYSE: KO).
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Recent data compiled by Bloomberg shows that out of the 99 S&P 500 companies who have reported quarterly results approximately 70 percent of them have exceeded analyst estimates. Data showed that analysts had projected second-quarter profits to decline by 2.1 percent.
"The theme coming out in earnings is companies are coming in short in revenue but still beat on earnings. Analysts have moved their targets (lower) and companies still are lean and mean and are able to generate profit," said Kim Forrest, senior equity research analyst at Fort Pitt Capital.
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With fiscal year 2012 sales of approximately $444 billion, Wal-Mart employs more than 2 million associates worldwide. The company currently offers investors and annual dividend of $1.59 per share for a yield of around 2.2 percent. Shares of Wal-Mart have soared over 20 percent this year and recently hit a new 52-week high of $73.46. The company is scheduled to release fiscal year 2013 second quarter earnings on August 16, 2012.
The Coca-Cola Company recently reported second quarter net revenues grew 3% and comparable currency neutral net revenues grew 7%, driven by solid price/mix of 3%. Year-to-date reported net revenues grew 4% and comparable currency neutral net revenues grew 7%. Shares of the company are up over 10 percent year-to-date.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 24.07.2012 - 06:20 Uhr
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