ETF Trends
ETF Trends

Last week, nearly 30 S&P 500 companies reported earnings.

Of the 52 S&P 500 members that have reported thus far, 62% have exceeded analysts’ profit estimates, and 63% have topped revenue forecasts, according to data compiled by Bloomberg.

Although this is a holiday-shortened week, the earnings ante will be upped as 60 S&P 500 member firms report, a group that includes several members of the Dow Jones Industrial Average.

Tuesday will be a busy day for several well-known ETFs, including the Market Vectors Oil Service ETF (NYSEArca: OIH). Nearly 21% of OIH’s constituency, Schlumberger (NYSE: SLB), reported last Friday, but today, Halliburton (NYSE: HAL) and Baker Hughes (NYSE: BHI) deliver results.

Those stocks combine for about 16.7% of OIH’s weight. Schlumberger, the largest oil services provider, gave some clues as to what to expect out of the sector this earnings season when it gained 1.8% last Friday. OIH is down slightly to start 2014 as energy stocks have been lethargic performers. [Energy ETFs Look to Establish Leadership]

Four Dow components also report today, a group comprised of International Business Machines (NYSE: IBM), Johnson & Johnson (NYSE: JNJ), Travelers (NYSE: TRV) and Verizon (NYSE: VZ). That works out to about 16% of the SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA). McDonald’s (NYSE: MCD), United Technologies (NYSE: UTX), Microsoft (NasdaqGM: MSFT) and Procter & Gamble (NYSE: PG), which combine for nearly another 16% of DIA, report late this week.

Speaking of Dow indices, the Dow Jones Transportation Average as represented by the iShares Transportation Average ETF (NYSEArca: IYT) will be active on the earnings front. Delta Airlines (NYSE: DAL) gets the ball rolling today followed by Norfolk Southern (NYSE: NSC) on Wednesday. Alaska Air (NYSE: ALK), JB Hunt (NasdaqGM: JBHT), Southwest Airlines (NYSE: LUV), United Continental Holdings (NYSE: UAL) and Union Pacific (NYSE: UNP) follow on Thursday.

Kansas City Southern (NYSE: KSU) takes its turn on Friday. Add all those stocks up, and the result is about 46% of IYT’s reporting earnings this week. [Transportation ETF Gets an Upgrade]

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