Equity investors and traders are enjoying another busy week as the biggest and most anticipated quarterly earnings releases are being shared as the week continues. So, the largest U.S. companies report their quarterly earnings amid positive signs that the U.S. economic revival is aiding businesses to return their pre-pandemic conditions.
As the earnings season continues, an impressive 87% of S&P 500 companies have surpassed experts and investors predictions. The following tech giants lead the rest of the best-performers: Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN). In general, first-quarter earnings numbers are predicted to boost more than 46%, following top experts estimates.
As of now, corporate profitability is strengthening prompted by the massive economic rebound and reopening. Meanwhile, investors are sure that the U.S. central bank would be obliged to restrict its monetary policy earlier than it should have done so.
The S&P 500 grew 5.2% in April, adding to its 11.2% advancement for the year so far. The Dow increased 2.7% in April, while the tech-giant NASDAQ added 5.4% during the past month.
As the week continues, investors keep following the most recent quarterly earnings releases from a wide range of the country’s largest companies. Below, we are listing three stocks from different sectors that are going to beat everyones expectations and therefore, are must-watching before the week ends.
Pfizer (PFE) came out with a quarterly report of $0.93 per share, surpassing the estimate of $0.78 per share, compared to earnings of $0.80 per share a year ago. Pfizer shares have boosted around 8.2% since the beginning of the year versus the S&P 500’s gain of 11.6%.
Pfizer is perhaps the world’s leader in COVID-19 vaccine production, providing billions of vaccines to a wide range of governments globally as they keep combating the pandemic. The company forecasted in February that it is going to make about $15 billion in revenue this year from the COVID-19 vaccine.
Company officials, managed by Chief Executive Albert Bourla, hope their vaccine is capable of taking on new variants, which will make the company get a better price for their inoculation going forward. The company also plans to develop new products using its messenger RNA technology.
Pfizer shares have gained 5% this year, closing on Friday at $38.65.