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S&P 500 earnings report for week of Sept. 30: Costco Wholesale set to report

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S&P 500 earnings report for week of Sept. 30: Costco Wholesale set to report

Fourteen companies in the S&P 500 have reported earnings for the third calendar quarter as of Sept. 27. Of those, 86% have reported earnings that beat Wall Street expectations, according to S&P Global Market Intelligence's analyst polling.

Collectively, the 14 constituents have reported an EPS surprise of 6.0% for the third quarter.

The blended growth rate for the S&P 500, which reflects all sectors on an aggregate level, for the third calendar quarter is down 3.8% as of Sept. 27. Sectors leading the growth trend include financials with 2.6%, healthcare with 1.8% and industrials with 1.2%.

Companies that are expected to report the largest earnings growth for the third quarter include Welltower Inc. with 343.9%, CF Industries Holdings Inc. with 254.7% and SBA Communications Corp. with 151.2%.

Companies with the most upward revisions for the quarter include Seagate Technology PLC with 20 upward revisions, Best Buy Co. Inc. with 19 upward revisions and Dollar General Corp. with 12 upward revisions.

Meanwhile, companies expected to report the largest percentage change in EPS for the third quarter include Newmont Goldcorp Corp. with 11.8%, Seagate Technology PLC with 9.7% and Best Buy Co. with 9.2%.

Companies with the greatest potential upside based on S&P Capital IQ consensus target prices as of Sept. 27 include Nektar Therapeutics with 132.5%, DXC Technology Co. with 78.1% and Concho Resources Inc. with 64.8%.

NIKE Inc. reported earnings of $0.86, well above the consensus estimate of a $0.71. Earnings grew by 28.4% year over year. The company reported total revenue of $10.66 billion, above the consensus estimate of $10.43 billion. Total revenue surged by 7.2% year over year. Share price closed at $92.27, jumping 5.8% since earnings were disclosed Sept. 24.

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