The Zacks Analyst Blog Highlights: United Airlines, Canadian Pacific Railway, Chart Industries, Skechers U.S.A. And Cleveland-Cliff
Zacks Investment Research | Jul 15, 2019 10:43PM ET
For Immediate Release
Chicago, IL – July 16, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: United Airlines Holdings Inc. (NASDAQ:UAL) , Canadian Pacific Railway Ltd. (NYSE:CP) , Chart Industries Inc. (NASDAQ:GTLS) , Skechers U.S.A. Inc. (NYSE:SKX) and Cleveland-Cliffs Inc. (NYSE:CLF) .
Here are highlights from Monday’s Analyst Blog:
Top Stocks to Gain This Week on Q2 Earnings
Wall Street bulls are raging since the beginning of 2019 barring volatility in March due to inversion of the government bond yield curve and stock market mayhem in May from an abrupt breakdown of U.S.-China trade talks. However, Fed’s rate cut signal has steadied Wall Street since then.
While the Fed-induced rally set Wall Street to new all-time highs, market participants are highly concerned about a negative earnings session for the second quarter of 2019. Notably, second-quarter earnings will be set into motion from the beginning of this week. Despite investors’ concerns, a few companies are likely to handsomely beat earnings estimates this week.
Markets Expect Disappointing Second-Quarter Earnings
At present, the market is anticipating a negative earnings session for the second quarter of 2019. As of Jul 12, total Q2 earnings for the S&P 500 Index are expected to be down 3.4% from the year-earlier period on 3.9% higher revenues.
This would follow the 0.2% earnings decline on 4.5% higher revenues in Q1. Imposing of tariff by the U.S. government on low-cost Chinese inputs, retaliatory tariffs imposed by China on U.S. exports, especially farm products, and global economic slowdown are primary reasons for tepid earnings expectations.
If the current consensus estimate for the second-quarter proves itself true, then it will be two consecutive quarters of earnings decline for the S&P 500. Technology, Aerospace, Basic Materials, Construction and Conglomerates sectors are likely to witness double-digit decline in second-quarter earnings. (Read More: Zacks Investment Research
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