AMC Stock Surges 26% on Strong Q2 Earnings; Domino's Rises
AMC Entertainment's stock soared 26% after reporting a 'superb' second quarter, signaling the movie industry is recovering from a prolonged post-pandemic slump. The results kick off a busy earnings week, with major reports expected from Alphabet, Tesla, Intel, IBM, General Motors, GE Vernova, AT&T, Lockheed Martin, and American Express. According to FactSet data, analysts estimate S&P 500 Q2 earnings growth of 24.7% year-over-year, above the five-year average of 16.4% and the 10-year average of 10.3%. If confirmed, this would mark the second consecutive quarter of earnings growth above 20% and the seventh straight quarter of double-digit growth. The article also notes that IBM's stock had previously plunged on pre-announced earnings, and that Big Tech results will provide crucial updates on AI demand amid investor concerns over large capital expenditures.
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