The Market Glance for July 16: GE’s First Earnings Report After Getting Dropped From the Dow
Asif Imtiaz Jul 16, 2018
More earnings reports from Wall Street will dominate the market this week and rising interest rates seem to have lifted all boats in Q2, as even some underperforming banking giants appear to have gotten their acts together over the last quarter.
Goldman Sachs (GS ) had a few rough quarters, but in Q2 it is set to improve earnings per share by over 20% compared to last year. In fact, almost all financial companies releasing their Q2’18 earnings this week will likely impress their investors.
By contrast, the journey for General Electric Company (GE ) wasn’t pretty and, after getting dropped from the Dow, analysts are yet again expecting another dismal quarter for the company. In fact, the bearish stock price of GE made its dividend yield very attractive. However, don’t get fooled into increasing exposure to GE based on dividend yield alone.
To sum up, it’s a golden era for the American corporate sector as reduced taxes and a strong economy continued to provide ample tailwinds in Q2.
Check out last week’s Market Glance here in which investors focused on a number of Wall Street earnings reports.
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