Twelve of the 19 members of the S&P 500 that reported calendar fourth-quarter 2019 earnings through Jan. 10 surpassed Wall Street's expectations.

Altogether, the companies reported a 5.8% EPS surprise for the fourth quarter and seven companies posted double-digit EPS growth year over year.

Of the 11 S&P 500 sectors, five are expected to show year-over-year EPS gains for the calendar fourth quarter and six are expected to report declines. The utilities sector is expected to post the largest gain at 11.8% year over year, while EPS is expected to decline by 37.3% in the energy sector.

Walgreens Boots Alliance Inc. reported earnings per share of $1.37 last week, below the consensus estimate of $1.41, as earnings fell 6.2% year over year. Revenue, however, increased by 1.6% year over year to $34.34 billion, which was slightly below the consensus estimate of $34.45 billion.

Meanwhile, Lennar Corp. reported $2.13 in EPS, beating the consensus estimate by 23 cents. Earnings jumped 8.7% year over year and total revenue increased by 7.9%.