Q3 Earnings Versus the October Effect
Believe it or not, Q3 earnings are upon us! Will it be trick? Or treat? Traders will be watching as the busiest earnings week of the year (October 22nd-26th) takes place during one of the most historically (and notoriously) volatile months of the year. Total Q3 earnings for the S&P 500® Index are expected to be up 17.6% from the same period last year on +7.3% higher revenues. That would be the 6th time in the last 7 quarters of double-digit earnings growth.
Here’s a table identifying the percentage of names in each index that is reporting, arranged by trading week. Below that table is a list of Top Ten Holdings for key indexes, along with their earnings announcement dates, and corresponding bold trades using Direxion Leveraged ETFs.
(Data Source: Bloomberg)
Q3 2018 Earnings Season
Q3 Quarterly Earnings Calendar
(All index data as of 9/30/2018)
| Russell 1000 Financial Services Index (RGUSFLA) | Russell 2000® Index (RU20INTR) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| BERKSHIRE HATHAWAY INC-CL B | BRK/B UN | 7.56% | 11/2/2018 | FIVE BELOW | FIVE UW | 0.30% | 11/28/2018 |
| JPMORGAN CHASE & CO | JPM UN | 6.98% | 10/12/2018 | INTEGRATED DEVICE TECH INC | IDTI UW | 0.27% | 10/29/2018 |
| BANK OF AMERICA CORP | BAC UN | 5.11% | 10/15/2018 | LIVANOVA PLC | LIVN UW | 0.27% | 10/31/2018 |
| VISA INC-CLASS A SHARES | V UN | 4.81% | 10/24/2018 | ETSY INC | ETSY UW | 0.26% | 11/1/2018 |
| WELLS FARGO & CO | WFC UN | 4.21% | 10/12/2018 | HAEMONETICS CORP/MASS | HAE UN | 0.26% | 11/6/2018 |
| MASTERCARD INC – A | MA UN | 3.68% | 10/25/2018 | LIGAND PHARMACEUTICALS | LGND UQ | 0.25% | 11/5/2018 |
| CITIGROUP INC | C UN | 3.33% | 10/12/2018 | HUBSPOT INC | HUBS UN | 0.25% | 10/31/2018 |
| PAYPAL HOLDINGS INC | PYPL UW | 1.93% | 10/24/2018 | TELADOC HEALTH INC | TDOC UN | 0.23% | 10/31/2018 |
| US BANCORP | USB UN | 1.49% | 10/17/2018 | PRIMERICA INC | PRI UN | 0.23% | 11/6/2018 |
| GOLDMAN SACHS GROUP INC | GS UN | 1.47% | 10/16/2018 | HEALTHEQUITY INC | HQY UW | 0.22% | 12/4/2018 |
| Related Funds: | Related Funds: | ||||||
| S&P 500 Index (SPXT) | Energy Select Sector Index (IXETR) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| APPLE INC | AAPL UW | 4.15% | 11/1/2018 | EXXON MOBIL CORP | XOM UN | 23.07% | 10/26/2018 |
| MICROSOFT CORP | MSFT UW | 3.56% | 10/25/2018 | CHEVRON CORP | CVX UN | 16.15% | 10/26/2018 |
| AMAZON.COM INC | AMZN UW | 3.30% | 10/25/2018 | CONOCOPHILLIPS | COP UN | 6.20% | 10/25/2018 |
| BERKSHIRE HATHAWAY INC-CL B | BRK/B UN | 1.72% | 11/2/2018 | EOG RESOURCES INC | EOG UN | 4.63% | 11/2/2018 |
| FACEBOOK INC-A | FB UW | 1.64% | 10/31/2018 | OCCIDENTAL PETROLEUM CORP | OXY UN | 4.47% | 10/31/2018 |
| JPMORGAN CHASE & CO | JPM UN | 1.59% | 10/12/2018 | SCHLUMBERGER LTD | SLB UN | 4.37% | 10/19/2018 |
| JOHNSON & JOHNSON | JNJ UN | 1.52% | 10/16/2018 | VALERO ENERGY CORP | VLO UN | 3.56% | 10/25/2018 |
| EXXON MOBIL CORP | XOM UN | 1.48% | 10/26/2018 | PHILLIPS 66 | PSX UN | 3.48% | 10/26/2018 |
| ALPHABET INC-CL C | GOOG UW | 1.48% | 10/25/2018 | MARATHON PETROLEUM CORP | MPC UN | 2.70% | 10/25/2018 |
| ALPHABET INC-CL A | GOOGL UW | 1.45% | 10/25/2018 | HALLIBURTON CO | HAL UN | 2.60% | 10/22/2018 |
| Related Funds: | Related Funds: | ||||||
| Health Care Select Sector Index (IXVTR) | Technology Select Sector Index (IXTTR) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| JOHNSON & JOHNSON | JNJ UN | 10.16% | 10/16/2018 | APPLE INC | AAPL UW | 19.88% | 11/1/2018 |
| PFIZER INC | PFE UN | 7.03% | 10/30/2018 | MICROSOFT CORP | MSFT UW | 17.08% | 10/25/2018 |
| UNITEDHEALTH GROUP INC | UNH UN | 6.90% | 10/16/2018 | VISA INC-CLASS A SHARES | V UN | 5.18% | 10/24/2018 |
| MERCK & CO. INC. | MRK UN | 5.12% | 10/25/2018 | CISCO SYSTEMS INC | CSCO UW | 4.34% | 11/14/2018 |
| ABBVIE INC | ABBV UN | 3.90% | 11/2/2018 | INTEL CORP | INTC UW | 4.13% | 10/25/2018 |
| AMGEN INC | AMGN UW | 3.66% | 10/23/2018 | MASTERCARD INC – A | MA UN | 3.96% | 10/25/2018 |
| MEDTRONIC PLC | MDT UN | 3.64% | 11/20/2018 | NVIDIA CORP | NVDA UW | 3.15% | 11/15/2018 |
| ABBOTT LABORATORIES | ABT UN | 3.45% | 10/17/2018 | ORACLE CORP | ORCL UN | 2.85% | 12/17/2018 |
| ELI LILLY & CO | LLY UN | 2.77% | 10/23/2018 | INTL BUSINESS MACHINES CORP | IBM UN | 2.71% | 10/16/2018 |
| BRISTOL-MYERS SQUIBB CO | BMY UN | 2.74% | 10/25/2018 | ADOBE SYSTEMS INC | ADBE UW | 2.55% | 12/13/2018 |
| Related Funds: | Related Funds: | ||||||
| S&P Utilities Select Sector Index (IXUTR) | S&P Industrial Select Sector Index (IXITR) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| NEXTERA ENERGY INC | NEE UN | 11.46% | 10/24/2018 | BOEING CO/THE | BA UN | 8.18% | 10/24/2018 |
| DUKE ENERGY CORP | DUK UN | 8.21% | 11/2/2018 | 3M CO | MMM UN | 5.20% | 10/23/2018 |
| DOMINION ENERGY INC | D UN | 6.65% | 10/31/2018 | HONEYWELL INTERNATIONAL INC | HON UN | 5.15% | 10/19/2018 |
| SOUTHERN CO/THE | SO UN | 6.36% | 10/31/2018 | UNION PACIFIC CORP | UNP UN | 5.07% | 10/25/2018 |
| EXELON CORP | EXC UN | 6.02% | 10/31/2018 | UNITED TECHNOLOGIES CORP | UTX UN | 4.40% | 10/23/2018 |
| AMERICAN ELECTRIC POWER | AEP UN | 5.02% | 10/25/2018 | GENERAL ELECTRIC CO | GE UN | 4.15% | 10/25/2018 |
| SEMPRA ENERGY | SRE UN | 4.47% | 11/2/2018 | CATERPILLAR INC | CAT UN | 3.83% | 10/23/2018 |
| PUBLIC SERVICE ENTERPRISE GP | PEG UN | 3.77% | 10/26/2018 | LOCKHEED MARTIN CORP | LMT UN | 3.56% | 10/16/2018 |
| XCEL ENERGY INC | XEL UW | 3.47% | 10/25/2018 | UNITED PARCEL SERVICE-CL B | UPS UN | 3.38% | 10/24/2018 |
| P G & E CORP | PCG UN | 3.45% | 10/25/2018 | CSX CORP | CSX UW | 2.51% | 10/16/2018 |
| Related Funds: | Related Funds: | ||||||
| S&P Retail Select Industry Index (SPSIRETR) | S&P Biotechnology Select Industry Index (SPSIBITR) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| DSW INC-CLASS A | DSW UN | 1.22% | 11/20/2018 | ACADIA PHARMACEUTICALS INC | ACAD UW | 1.88% | 11/6/2018 |
| CAMPING WORLD HOLDINGS INC-A | CWH UN | 1.20% | 11/8/2018 | VIKING THERAPEUTICS INC | VKTX UR | 1.81% | 11/7/2018 |
| KROGER CO | KR UN | 1.20% | 12/6/2018 | ALEXION PHARMACEUTICALS INC | ALXN UW | 1.43% | 10/25/2018 |
| FOOT LOCKER INC | FL UN | 1.20% | 11/16/2018 | SANGAMO THERAPEUTICS INC | SGMO UW | 1.38% | 11/7/2018 |
| EXPRESS INC | EXPR UN | 1.19% | 11/21/2018 | IONIS PHARMACEUTICALS INC | IONS UW | 1.37% | 11/6/2018 |
| NUTRISYSTEM INC | NTRI UW | 1.18% | 10/24/2018 | ARRAY BIOPHARMA INC | ARRY UQ | 1.36% | 10/30/2018 |
| MURPHY USA INC | MUSA UN | 1.18% | 10/31/2018 | TESARO INC | TSRO UW | 1.36% | 11/6/2018 |
| TRACTOR SUPPLY COMPANY | TSCO UW | 1.18% | 10/25/2018 | ANAPTYSBIO INC | ANAB UW | 1.34% | 11/8/2018 |
| WALGREENS BOOTS ALLIANCE INC | WBA UW | 1.18% | 10/11/2018 | LIGAND PHARMACEUTICALS | LGND UQ | 1.31% | 11/5/2018 |
| ABERCROMBIE & FITCH CO-CL A | ANF UN | 1.18% | 11/21/2018 | AMICUS THERAPEUTICS INC | FOLD UQ | 1.31% | 11/5/2018 |
| Related Funds: | Related Funds: | ||||||
| S&P Oil & Gas Exploration and Production Index (SPSIOP) | S&P Regional Banks Select Industry Index (SPSIRBKT) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| CALIFORNIA RESOURCES CORP | CRC UN | 2.04% | 11/1/2018 | KEYCORP | KEY UN | 1.85% | 10/18/2018 |
| DENBURY RESOURCES INC | DNR UN | 1.93% | 11/6/2018 | REGIONS FINANCIAL CORP | RF UN | 1.81% | 10/23/2018 |
| CHESAPEAKE ENERGY CORP | CHK UN | 1.88% | 11/1/2018 | SUNTRUST BANKS INC | STI UN | 1.81% | 10/19/2018 |
| OASIS PETROLEUM INC | OAS UN | 1.87% | 10/31/2018 | PNC FINANCIAL SERVICES GROUP | PNC UN | 1.79% | 10/12/2018 |
| CONTINENTAL RESOURCES INC/OK | CLR UN | 1.86% | 11/6/2018 | STERLING BANCORP/DE | STL UN | 1.79% | 10/23/2018 |
| ENERGEN CORP | EGN UN | 1.82% | 11/6/2018 | BB&T CORP | BBT UN | 1.79% | 10/18/2018 |
| DIAMONDBACK ENERGY INC | FANG UW | 1.82% | 10/30/2018 | PACWEST BANCORP | PACW UW | 1.79% | 10/16/2018 |
| CARRIZO OIL & GAS INC | CRZO UW | 1.81% | 11/6/2018 | SVB FINANCIAL GROUP | SIVB UW | 1.79% | 10/25/2018 |
| MARATHON OIL CORP | MRO UN | 1.80% | 10/31/2018 | COMERICA INC | CMA UN | 1.79% | 10/16/2018 |
| SOUTHWESTERN ENERGY CO | SWN UN | 1.80% | 11/1/2018 | FIFTH THIRD BANCORP | FITB UW | 1.78% | 10/23/2018 |
| Related Funds: | Related Funds: | ||||||
| MSCI US REIT Index (RMS G) | PHLX Semiconductor Sector Index (XSOX) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| SIMON PROPERTY GROUP INC | SPG UN | 6.51% | 10/25/2018 | BROADCOM INC | AVGO UW | 9.29% | 12/5/2018 |
| PROLOGIS INC | PLD UN | 4.93% | 10/16/2018 | QUALCOMM INC | QCOM UW | 8.71% | 11/7/2018 |
| EQUINIX INC | EQIX UW | 3.99% | 10/31/2018 | TEXAS INSTRUMENTS INC | TXN UW | 7.90% | 10/23/2018 |
| PUBLIC STORAGE | PSA UN | 3.77% | 10/25/2018 | INTEL CORP | INTC UW | 7.84% | 10/25/2018 |
| AVALONBAY COMMUNITIES INC | AVB UN | 2.95% | 10/30/2018 | NVIDIA CORP | NVDA UW | 7.82% | 11/15/2018 |
| EQUITY RESIDENTIAL | EQR UN | 2.88% | 10/23/2018 | ADVANCED MICRO DEVICES | AMD UR | 5.21% | 10/23/2018 |
| WELLTOWER INC | WELL UN | 2.82% | 11/7/2018 | TAIWAN SEMICONDUCTOR-SP ADR | TSM UN | 4.22% | 10/18/2018 |
| DIGITAL REALTY TRUST INC | DLR UN | 2.75% | 10/25/2018 | ANALOG DEVICES INC | ADI UW | 3.90% | 11/20/2018 |
| VENTAS INC | VTR UN | 2.29% | 10/25/2018 | NXP SEMICONDUCTORS NV | NXPI UW | 3.83% | 10/31/2018 |
| BOSTON PROPERTIES INC | BXP UN | 2.26% | 10/30/2018 | APPLIED MATERIALS INC | AMAT UW | 3.68% | 11/15/2018 |
| Related Funds: | Related Funds: | ||||||
| Dow Jones Transportation Average (DJTTR) | Dow Jones U.S. Select Aerospace & Defense (DJSASDT) | ||||||
| Top 10 Weights | Ticker | Weight in the index | Earnings Release Date | Top 10 Weights | Ticker | Weight in the index | Earnings Release Date |
| FEDEX CORP | FDX UN | 12.88% | 12/18/2018 | BOEING CO/THE | BA UN | 11.34% | 10/24/2018 |
| NORFOLK SOUTHERN CORP | NSC UN | 9.71% | 10/24/2018 | UNITED TECHNOLOGIES CORP | UTX UN | 8.35% | 10/23/2018 |
| UNION PACIFIC CORP | UNP UN | 8.77% | 10/25/2018 | LOCKHEED MARTIN CORP | LMT UN | 7.56% | 10/16/2018 |
| LANDSTAR SYSTEM INC | LSTR UW | 6.52% | 10/24/2018 | RAYTHEON COMPANY | RTN UN | 6.21% | 10/25/2018 |
| HUNT (JB) TRANSPRT SVCS INC | JBHT UW | 6.47% | 10/16/2018 | GENERAL DYNAMICS CORP | GD UN | 6.08% | 10/24/2018 |
| UNITED PARCEL SERVICE-CL B | UPS UN | 6.25% | 10/24/2018 | NORTHROP GRUMMAN CORP | NOC UN | 5.99% | 10/24/2018 |
| KANSAS CITY SOUTHERN | KSU UN | 6.16% | 10/19/2018 | ROCKWELL COLLINS INC | COL UN | 3.85% | 10/26/2018 |
| C.H. ROBINSON WORLDWIDE INC | CHRW UW | 5.19% | 10/17/2018 | HARRIS CORP | HRS UN | 3.57% | 10/30/2018 |
| UNITED CONTINENTAL HOLDINGS | UAL UW | 4.76% | 10/16/2018 | TRANSDIGM GROUP INC | TDG UN | 3.44% | 11/8/2018 |
| KIRBY CORP | KEX UN | 4.44% | 10/24/2018 | TEXTRON INC | TXT UN | 3.43% | 10/18/2018 |
| Related Funds: | Related Funds: | ||||||
