Earnings live: General Motors and GE raise guidance, Coca-Cola stock rises on earnings beat

Earnings Season Overview - Earnings season is gaining momentum with major companies like Tesla, Netflix, General Motors, and Ford reporting results this week [1][3] - As of October 17, 12% of S&P 500 companies have reported, with analysts expecting an 8.5% increase in earnings per share for Q3, marking the ninth consecutive quarter of positive earnings growth, although a slowdown from the 12% growth in Q2 [1][2] Sector Representation - A diverse range of sectors will be represented in the earnings reports, including airlines, toy manufacturers, and telecom providers, with consumer companies like Procter & Gamble and Deckers Outdoors expected to provide insights on consumer spending [4][5] Notable Earnings Reports - American Express reported earnings that exceeded expectations, driven by strong demand for its Platinum card [7] - Coca-Cola's stock rose after it reported earnings above estimates despite a challenging environment [8] - General Motors' stock increased following positive full-year guidance and improved tariff exposure in Q3 [9] - Northrop Grumman raised its annual profit forecast due to heightened demand for defense products amid geopolitical tensions [10] - Elevance Health surpassed quarterly profit estimates as medical costs remained stable [11] Financial Sector Insights - Zions Bancorporation's stock rose after the CEO reassured investors about limited charge-offs, reporting a diluted earnings per share of $1.48, beating estimates [13][17] - Truist reported a net income increase to $1.3 billion, exceeding analyst expectations, with broad-based loan growth [25] - Fifth Third Bank reported a 7% year-over-year increase in net interest income, with earnings per share growing 17% annually [29] Technology Sector Highlights - Taiwan Semiconductor Manufacturing Company (TSMC) reported a 39% year-over-year profit surge and raised its 2025 revenue outlook, benefiting from strong demand for AI-related technologies [42][43] Market Trends - Bank of America noted that 76% of S&P 500 companies reporting so far have exceeded earnings expectations, indicating a trend of more positive surprises than usual [19][20]