EC The Market's Worst Days Are Behind Us

I am not suggesting that you jump in all the way today, but rather start taking small positions while still preserving sufficient capital for opportunities that are bound to show up in the coming days. Don’t try to ‘time’ the market or look for catching the true bottom. That is an extremely difficult, if not altogether impossible, undertaking.

2020 Q1 Earnings Season Preview  

That’s when everyone in the market will start paying attention to the Q1 earnings season. Unfortunately for us, we don’t have the luxury to wait that long as we are responsible for maintaining the ‘books’ on every earnings season.

From our standpoint, the 2020 Q1 earnings season has actually gotten underway already. Including the March 19 release from Cintas (CTAS - Free Report), we now have results from 10 such S&P 500 members that includes bellwether operators like FedEx (FDX - Free Report), Adobe (ADBE - Free Report) and others.

The majority of companies use calendar quarters as their fiscal reporting periods. But as we all know, fiscal and calendar quarters don’t match for all companies, as is the case with Cintas, FedEx, Adobe, and others whose fiscal quarters ended in February. We club such fiscal February-quarter results as part of our March-quarter tally. It is in this context that the 2020 Q1 earnings season has gotten underway for us already.

We have another 4 S&P 500 members with fiscal quarters ending in February on deck to report such 2019 Q1 results this week, which includes Nike (NKE - Free Report) and Micron (MU - Free Report). The fact is that by the time the JPMorgan (JPM - Free Report) and Wells Fargo (WFC - Free Report) come around to report their March-quarter results on April 14th, we will have seen 2020 Q1 results from almost two dozen S&P 500 members already.

The Coronavirus Impact

Needless to say, this global pandemic is the biggest cloud on the earnings horizon, as it has such an overwhelming impact on the economic and operating environment in which these companies operate.

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