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Happy Friday! More than 180 of the S&P 500 companies are poised to post earnings next week. Check out what analysts expect from the reports and how the sectors have performed this week.
Of the 121 S&P 500 components that have posted earnings so far, 81 percent have surpassed expectations, according to data from Thomson Reuters.
"[This quarter's] earnings thus far have shown far more upside surprises than disappointment, although the trend is likely to moderate as has been the pattern in past quarters," according to Tobias Levkovich of Citigroup. "Nonetheless, upward forward guidance is more encouraging, but the hockey stick-like projections, especially the blade edge, for the fourth-quarter of 2012 just do not appear likely to us."
Techs
Apple (Tues), Netflix (Mon), Amazon.com (Thurs), Texas Instruments (Mon) - The tech sector logged its second-straight weekly decline, while the Nasdaq posted its third-consecutive losing week. Most notably, Apple entered into correction territory on Friday, with the stock tumbling more than 10 percent in the last nine trading sessions from its all-time high of $644 earlier this month.
Chipmakers have posted mixed earnings thus far. SanDisk said its memory chip glut will continue to affect prices for the rest of the year, while AMD forecast sales above expectations in another sign that PC demand is holding up better than anticipated.
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