Lofty US stocks leave investors punishing earnings disappointments [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
the stakes ahead of a week in which two more technology and growth giants are set to report. Strong reports from Microsoft and Google parent Alphabet on Thursday helped propel the S&P 500 to its biggest weekly gain since early November following its first 5% pullback of the year. The S&P 500 is up about 7% in 2024 and some 24% since late October. But investors punished a disappointing forecast from Meta Platforms. The Facebook parent's stock tumbled over 10% on Thursday after its report. A sales warning saw shares of industrial bellwether Caterpillar fall 7%. More broadly, S&P 500 companies that have topped analyst earnings estimates this quarter have seen their shares outperform by a median of just 0.2%, JPMorgan strategists said. By contrast, those that have missed earnings estimates have had their shares lag by a median of 4%, the biggest such underperformance for misses in at least eight years. Earnings reports have been "pretty good," said Rick Meckler, partner at Cherry
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News
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META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/7/24 - Form 4
- 5/7/24 - Form 144
- 5/7/24 - Form PX14A6G
- META's page on the SEC website