The second-quarter earnings season picks up speed in the coming week with a rush of reports from major players in tech, healthcare and finance.
The prognosis for the season? Analysts are generally expecting another winner.
"We believe another quarter of double-digit earnings growth for the S&P 500 in the second quarter is possible, given generally solid overall economic data, the strong rebound in energy sector profits, and solid financial and technology sector earnings gains," said Burt White, chief investment officer for LPL Financial.
He added: "We believe corporate America will deliver more good news this quarter."
S&P 500 companies are expected to produce blended earnings growth of 8.1% and revenue growth of 4.6% this quarter, according to Thomson Reuters estimates. Earnings growth will largely be tied to a rebound in oil prices and recovering profitability at energy companies.
In finance earnings, BlackRock Inc. (BLK) will report on Monday, July 17; Bank of America Corp. (BAC) , Goldman Sachs Group Inc. (GS) , Progressive Corp. (PGR) and TD Ameritrade Holding Corp. (AMTD) on Tuesday, July 18; American Express Co. (AXP) and Morgan Stanley (MS) on Wednesday, July 19; and Capital One Financial Corp. (COF) , Bank of New York Mellon Corp. (BK) , Visa Inc. (V) , Western Alliance Bancorporation (WAL) and Blackstone Group LP (BX) on Thursday.
Tech earnings include Netflix Inc. (NFLX) on Monday; International Business Machines Corp. (IBM) on Tuesday; Qualcomm Inc. (QCOM) on Wednesday; and eBay Inc. (EBAY) , Snap Inc. (SNAP) and Microsoft Corp. (MSFT) on Thursday.
Consumer earnings include Harley-Davidson Inc. (HOG) and United Continental Holdings Inc. (UAL) on Tuesday; Phillip Morris International Inc. (PM) on Thursday; and Colgate-Palmolive Co. (CL) and Vodafone Group PLC (VOD) on Friday.
Other earnings include CSX Corp. (CSX) and Lockheed Martin Corp. (LMT) on Tuesday; Alcoa Corp. (AA) and United Rentals Inc. (URI) on Wednesday; Alliance Data Systems Corp. (ADS) , Danaher Corp. (DHR) , Dover Corp. (DOV) , Sherwin-Williams Co. (SHW) , Unilever PLC (UL) and Union Pacific Corp. (UNP) on Thursday; and Honeywell International Inc. (HON) , Kansas City Southern (KSU) and Schlumberger Ltd. (SLB) on Friday.
On the economic calendar, the Empire State Manufacturing Survey for July will be released Monday; import and export prices for June and the housing market index for July on Tuesday; housing starts for June on Wednesday; and the Philadelphia Fed Business Outlook Survey for July on Thursday.
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