Brace for the final profit reports to hit
Now that didn't hurt too badly, did it? Corporate profit season was supposed to be painful - turns out it just pinched a little. A few more reports are due - and then it's over.
Corporate profits are just about in the bag. 447 companies in the Standard & Poor's 500 have reported. Profit grew 0.4% - not great - but much better than the drop many expected before the season started.
There are a few important profit stragglers to consider. Monday is a big day for food reports. Food distributor Sysco (SYY) reports. Analysts think profit will inch up 2%. Investors also get a glimpse into the Frankencompany created by Warren Buffett - mashing up cheese and ketchup - when Kraft Heinz (KHC) reports. Analysts see the company reporting 84 cents a share.
Investors got a glimpse into the watch business Tuesday. Fossil Group (FOSL) reports. The company's profit is expected to fall 16%. We'll see if they talk about any smartwatch plans.
Macy's (M) reports Wednesday. The department store is a good barometer of the consumer. Profit is expected to fall nearly 4%. Kohl's (KSS) delivers more retail news Thursday. Analysts see the retailer reporting 3% higher profit.
Investors, of course, are already looking to the third quarter. Currently, analysts expect earnings to fall 3.4%. But maybe companies can outperform again.