April Is Looking Like It Will Be Even More Turbulent Than March For The Stock Market

Next week, the week after Easter, however, we see a pronounced pickup in the number of companies reporting earnings both in general and from a thematic perspective. Roughly 280 companies share quarterly results and offer their latest take on what’s ahead after we finish gorging on chocolate Easter eggs… or at least some of that do that, up from roughly 60 this week. Yep, it’s going to get a bit frenetic next week and even more so the week after.

As all those reports get digested, we see the potential for first-quarter 2017 earnings season to be a volatile one that is likely to lead to negative revisions to earnings expectations for at least the current quarter. We continue to think this return of volatility will take some of the froth out of the market and allow us to buy shares in quality companies at better prices. For those that have been sitting on the sidelines, the next few weeks could offer the opportunity to revisit quality companies at better prices.

Thematic Earnings Calendar

The following are just some of the earnings announcements we’ll have our eye on for thematic confirmation data points:

Asset-lite Business Models

Connected Society

  • Taiwan Semiconductor (TSM)

Economic Acceleration/Deceleration

Rise & Fall of the Middle Class

  • Delta Airlines (DAL)
  • Pier 1 Imports (PIR)
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Moon Kil Woong 4 years ago Contributor's comment

It does look more turbulent, however, March was not that turbulent.