SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Jul 24, 2012) - The Standard & Poor's 500 Index recent rally has seen it reach a new two-month high. A string of better-than-estimated earnings and speculation that the poor economic data will force further stimulus from the Federal Reserve have pushed stocks higher. The SPDR S&P 500 ETF (SPY) has gained over 3 percent in the last week. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on 3M Co. (NYSE: MMM) and Kraft Foods Inc. (NASDAQ: KFT).
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Recent data compiled by Bloomberg shows that out of the 99 S&P 500 companies who have reported quarterly results approximately 70 percent of them have exceeded analyst estimates. Data showed that analysts had projected second-quarter profits to decline by 2.1 percent.
"The theme coming out in earnings is companies are coming in short in revenue but still beat on earnings. Analysts have moved their targets (lower) and companies still are lean and mean and are able to generate profit," said Kim Forrest, senior equity research analyst at Fort Pitt Capital.
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With $30 billion in sales, 3M employs 84,000 people worldwide and has operations in more than 65 countries. 3M is scheduled to release second quarter 2012 earnings on Thursday July 26, 2012, and will host a conference call on July 26, 2012, at 8:00 a.m. CDT to discuss the results. Shares of the company are up over 10 percent year-to-date.
Kraft Foods will release its second quarter financial results on Thursday, August 2, 2012, at 4 p.m. EDT and will host a conference call at 5 p.m. EDT that day. In 2011 the company had total revenues of $54.4 billion. Kraft recent hit a new 52-week high of $40.29; shares of the company are up 7.5 percent year-to-date.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer