The second half of earnings season is well underway, but a variety of major corporations are still set to release results, giving investors a glimpse of where the stock market and economy is likely to be headed. More than 70 S&P 500 names will report results this week, including Disney and Caterpillar. Pharmaceutical giant Eli Lilly may even report earnings. Overall, earnings season has been solid. Year-over-year earnings growth for the S&P 500 is anticipated to top 11% within the second quarter, and nearly 78% of corporations have beaten estimates to this point, in keeping with FactSet. Of course, corporations that do not meet analysts’ and investors’ high bar will proceed to be punished. Case in point is Amazon: The e-commerce giant gave a lackluster forecast for its fiscal third quarter, sending shares plummeting. Check out CNBC Pro’s breakdown of what to anticipate from this week’s key reports. All times are Eastern time. On Tuesday, Uber Technologies will report earnings before the market opens. A conference call with management is scheduled for 8 a.m. Last quarter: UBER reported first-quarter revenue that beat analysts’ expectations. This quarter: The ride-sharing giant is anticipated to see profits rise 70% from the identical period last 12 months, in keeping with LSEG data. What CNBC is watching: Uber heads into its second-quarter report with some regulatory momentum after a California court ruled that app-based employees may be classified as independent contractors. Investors will now be in search of clues as as to whether consumer spending on ride-sharing and delivery services is slowing. “The stock appears to have priced in the slowing ride frequency trend as well as ongoing concerns about competition from autonomous vehicles (AVs), creating an unchallenging starting point for Uber as we head into the release,” wrote Deutsche Bank analyst Benjamin Black. What history shows: Uber has beaten earnings expectations in six of the past seven quarters, in keeping with data from Bespoke Investment Group. Caterpillar will report premarket earnings, followed by a conference call with management at 8:30 a.m. Last quarter: CAT reported earnings and revenue that beat analysts’ expectations, but shares fell 7%. This quarter: Analysts expect earnings and revenue to be little modified from the identical period last 12 months, in keeping with LSEG. What CNBC is watching: Given the corporate’s global presence, investors will likely be seeking to Caterpillar’s report for clues concerning the state of the worldwide economy. Over the past three months, shares have fallen 4.3%. What history shows: The industrial giant’s earnings have beaten expectations for five straight quarters, data from Bespoke shows. However, shares have fallen on three of those reporting days. Wednesday, Walt Disney will report earnings before the market opens. A conference call with analysts and investors is scheduled for 8:30 a.m. Last quarter: DIS fell 10% on low forecasts that offset a robust performance from its streaming business. This quarter: The operator of theme parks and film studios is anticipated to report a 15% increase in profit, in keeping with LSEG. What CNBC is watching: Disney’s park business will likely be in the main target of investors. “The stock is now trying to price in the increasing pressure on the parks,” wrote Wells Fargo analyst Steven Cahall. “We think in a downside scenario, domestic attendance is with no growth, but the larger losses are per [capita] Growth is more negative and hotels’ RevPAR.” What history shows: According to Bespoke, Disney earnings beat analysts’ expectations 78% of the time. But the stock is often flat on earnings days. On Thursday, Eli Lilly will report earnings before the market opens, followed by a conference call at 10 a.m. Last quarter: LLY beat expectations and raised its full-year forecast on strong Zepbound sales. This quarter: The pharmaceutical giant’s earnings rose nearly 30% from the identical period last 12 months, in keeping with LSEG. What CNBC is watching: All eyes will likely be on Eli Lilly’s blockbuster weight-loss drug Zepbound. Last week, analysts at JPMorgan wrote: “Longer term, we continue to see significant upside for Mounjaro/Zepbound with sales of $16.5 billion (+$1.3 billion) in 2024, rising to $27 billion in 2025 (+$3.5 billion) and $36.5 billion in 2026. (+$5.8 billion). In addition, there are several important catalysts for LLY’s incretin franchise over the next 12 to 18 months, including data on the health effects of tirzepatide. “History shows: Eli Lilly has beaten earnings estimates for 4 quarters in a row. But shares lose a median of 0.2% on earnings days.
