You’re probably not surprised to hear a lot of companies reported earnings today. Despite optimism around this earnings season, though, many companies suffered losses. 🤷
SIRIUS XM Radio reported before the bell. $SIRI was one of a few winners, adding 5.1%. 🏅 Raytheon, Fiserv, and Boston Scientific also added a few points today.
The wins were not nearly as great as the losses. United Parcel Service, Teradyne, Teladoc Health, and JetBlue Airways all lost more than 6% today. Oof. There was little to recover in after-hours.
What gives?? Earnings was supposed to be a party… but with stocks at all-time highs, investors have likely already priced in most of the success. Now, there’s more to lose than gain. More on that below. 📉