The S&P 500 and Nasdaq indices declined on Tuesday, with rising bond yields and geopolitical concerns regarding Iran prompting investors to take profits. Both indices are currently trading just below their all-time highs following a notable rally driven by interest in AI stocks.
In Q2 2023, Forum Energy Technologies, Inc. (FET) reported a significant turnaround, swinging from an adjusted loss of $0.10 per share to an adjusted profit of $1.16, surpassing expectations by 104%. The company projects adjusted earnings will grow by 527%, from $0.63 per share in the previous year to $3.95 in 2026, and increase further to $4.81 per share in 2027.
The earnings outlook for the S&P 500 has also improved since Q2, with expectations indicating continuing earnings and revenue growth into 2027 and 2028.
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