While the departure of October means the quarter is only one-third complete, the quarterly earnings season has already entered the home stretch, and appears certain to lose yet again.
So far, 358 of the S&P 500 SPX, +0.97% companies have reported quarterly earnings, more than 70%, and earnings have declined 2.66% from the same quarter a year ago, according to a FactSet tally. It could take a miracle at this point to reverse that trend and avoid prolonging the earnings recession, especially because most of the largest companies, which are larger contributors to the overall numbers, have already reported. Current projections peg this quarter’s decline will eventually be 2.78%.
One of the only companies reporting in the coming week with the heft to move those numbers significantly is The Walt Disney Co. DIS, +2.18% , also the only component of the Dow Jones Industrial Average on the docket. Disney earnings are expected to push the S&P 500 the other way, though, as the company’s bottom line continues to digest assets purchased from Fox Corp. that caused a big profit miss in the previous quarter.
There will be plenty of action outside the S&P 500 as well, especially from some of the youngest entrants on Wall Street. Connected exercise-equipment company Peloton Interactive Inc. PTON, +4.69% will release its first set of results since going public, and Uber Technologies Inc. UBER, -0.41% will report results after a rough reaction to rival Lyft Inc. LYFT, +3.72%
Here’s what to watch for in the week ahead.
In Disney’s report on Thursday, the fiscal fourth-quarter numbers will likely by less important than any forecast executives, with the launch of the Disney+ streaming service and the premiere of