As earnings reports for the first quarter roll in, U.S. companies are beating the estimates of analysts at a rate not seen in more than a decade. Yet stocks have languished. The S&P 500 has fallen about 2% in April. So why aren't investors impressed?
When companies use the word "immaterial" to describe errors or irregularities in their previously reported numbers, what they're trying to say is that their mistakes involved such small amounts that they don't really matter. Too often, though, that's not really the case.
For better or worse, earnings season hits high gear this week. Here's a quick rundown of what analysts are expecting to see, as well as a closer look at three of the biggest anticipated earnings gainers: American Express, Texas Instruments and Apple.