Wall Street is in for another packed week of earnings, with over 150 S&P 500 companies slated to release their financial results, according to FactSet.
Strong Q2 results have driven stocks to new heights over the last few weeks. Markets have made healthy gains throughout the month, with the S&P, Dow, and Nasdaq up 3.5%, 5%, and 2%, respectively. While tech stocks have, for the most past, outperformed the markets, social media companies Facebook (FB) and Twitter (TWTR) both plunged last week upon reporting disappointing results. Facebook is down over 22% from its all-time high price of $217.50 on 7/25, and Twitter has dropped 25% since reporting earnings last week. Both companies suffered major hits in value due to reports marked by declines in monthly active users and forecasts of continued slowing user growth.