We’re starting to see higher-than-expected profits from companies for last quarter
A Big Pharma company has fine results from last quarter even as it runs into a coronavirus vaccine setback. Plus, Disney is reorganizing to boost streaming platforms. And, a tool to make it easier for humans to communicate with dogs.
Companies are beating expectations. But Julian Emanuel, chief equity and derivatives strategist at BTIG, says that alone might not be enough to buoy stocks further. “The tendency is that when companies beat expectations, you do tend to see a positive share price reaction, but given how far the market’s run and the uncertainties of the reopening of the economy in the fall, beating on earnings isn’t going to be enough,” Emanuel said.