Monday Morning Meeting Notes (02/13/2023)
Bradley Prosper, CFA®, CFP® Weekly Economic Insights
Monday Morning Meeting Notes (02/13/2023)
General Info:
- Update on the S&P 500 Index’s quarterly earnings season so far
- 346 companies have reported earnings already, with 241 (or 70%) of them beating analyst earnings expectations; keep in mind that analysts have reduced their earnings estimates coming into the year, so the 70% beat rate is not as impressive as it appears
- Sales Growth of +5.35%, which is a positive surprise of +1.30%
- Earnings Growth of -2.68%, which is a positive surprise of +1.84%
- If you exclude the Energy sector, earnings growth has been -6.81%
- Fun Fact: It takes approximately 700 grapes to make one 750ml bottle of wine. Sounds like a full day’s serving of fruit to me.
Monday 02/13:
- IAC, FirstEnergy, iRobot Corp, and Omnicell report earnings
Tuesday 02/14:
- Coca-Cola, Fannie Mae, Airbnb, Zoetis, Restaurant Brands International, Devon Energy, Copart, and Upstart Holdings report earnings
- Q4 2022 GDP data for the Eurozone and Japan
- U.S. consumer price index (CPI) data for January
- CPI is expected to grow 0.5% month-over-month and 6.2% year-over-year
- Core CPI, which excludes volatile food and energy prices, is expected to grow 0.4% month-over-month and 5.5% year-over-year
- NFIB Small Business Optimism Index for January
- U.K. unemployment and jobless claims data
- Deadline for 13F filings, in which hedge funds disclose their 12/31/22 investments
Wednesday 02/15:
- Cisco Systems, Kraft Heinz, Wabtec, Aerojet Rocketdyne, Analog Devices, Barrick Gold, Marathon Oil Corp, Owens Corning, Sabre Corp, EQT Corp, Equinix, Energy Transfer, Fidelity National Information Services, Zillow, Shopify, SiteOne Landscape Supply, Rollins, and Resideo Technologies report earnings
- U.S. retail sales data for January
- Industrial production data for the U.S and Eurozone
- U.K. CPI data for January
Thursday 02/16:
- Nestle, Air Liquide, Applied Materials, MagnaChip Semiconductor, Casella Waste Systems, Pool Corp, Epam Systems, Hasbro, and Globant report earnings
- U.S. producer price index (PPI) data for January
- China property prices
Friday 02/17:
- Deere & Co, PPL Corp, and Marcus & Millichap report earnings
- The U.S. Conference Board Leading Index for January is expected to show the 10th consecutive month of decline
- France CPI data for January
About the Author
Bradley Prosper, CFA®, CFP®
Senior Research Analyst
Mr. Prosper is a member of the Firm’s investment research group where he assists in conducting investment research that is instrumental in the construction, maintenance, and management of client portfolios. This research includes the procurement of primary data via direct investment manager interviews as well as analyzing information from our data resources.