Oppenheimer

S&P 500 companies’ quarterly financial results have been mixed so far in the current reporting cycle, with signs of both “strength and softness,” Oppenheimer Asset Management said Monday. The brokerage said that 228 companies in the benchmark equity index have already reported results in the ongoing season, with earnings up 3.4% year over year overall on the back of a 3.9% increase in revenue. Eight of the 11 sectors have showed positive earnings growth, led by a 41% surge in communication services. Healthcare is leading the decliners, down 36%, followed by energy and materials posting double-digit declines, the firm said in a note. In terms of sales growth, 141 companies have reported positive results, while 75 have logged negative results. Technology and communication services sales are up more than 8% each on an annual basis, while utilities, energy and materials are down, according to the note. Microsoft (MSFT), Facebook parent […]