This week, the S&P 500's largest names, namely Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Facebook (FB), and Alphabet (GOOGL), will release earnings results. Until now, 24 percent of the S&P 500 had reported, and 88 percent of them had exceeded Wall Street's expectations.

The strength of the internet advertising sector was demonstrated by Snap and Twitter's profits last week. Snap's revenue increased by 116 percent in the second quarter, the most in four years. Stocks soared to new highs after the announcement. Both companies added more active users than they projected.

According to JPMorgan analyst Doug Anmuth, Snap's earnings would likely increase the bar for other ad-popular names such as Alphabet and Facebook, which will announce their highly anticipated reports on Tuesday and Wednesday.

With shares up 52 percent in 2021, Alphabet was the top performer. The larger economic recovery has been seen as a major boon for Alphabet. On the other hand, others have been deemed to benefit more from a stay-at-home or work-from-home atmosphere.

Earnings Calendar

  • Monday: Lockheed Martin (LMT) before market open; Tesla (TSLA) after market close
  • Tuesday: Centene (CNC), UPS (UPS), 3M (MMM), SiriusXM Holdings (SIRI), Sherwin-Williams (SHW), General Electric (GE), Stanley Black & Decker (SWK), Polaris (PII), Waste Management Inc (WM), Boston Scientific Corp (BSX), JetBlue (JBLU), Fiserv (FISV), Raytheon Technologies (RTX), Invesco (IVZ), Lamb Weston Holdings (LW) before market open; Apple (AAPL), Starbucks (SBUX), Advanced Micro Devices (AMD), Alphabet (GOOGL), Teladoc Health (TDOC), Visa (V), Microsoft (MSFT), Mondelez International (MDLZ), Juniper Networks (JNPR), The Cheesecake Factory (CAKE) after market close
  • Wednesday: Humana (HUM), CME Group (CME), Pfizer (PFE), McDonald's (MCD), Six Flags Entertainment (SIX), Boeing (BA), Moody's Corp (MCO), General Dynamics Corp (GD), Teledyne Technologies (TDY), Bristol-Myers Squibb (BMY) before market open; Facebook (FB), Ford (F), Xilinx (XLNX), PayPal (PYPL), ServiceNow (NOW), Lam Research Corp (LRCX), Align Technology (ALGN) after market close 
  • Thursday: Merck & Co (MRK), Intercontinental Exchange (ICE), T Rowe Price Group (TROW), Comcast Corp (CMCSA), Spirit Airlines (SAVE), Valero Energy (VLO), Hilton Worldwide Holdings (HLT), The Carlyle Group (CG), Mastercard (MA), Molson Coors Beverage Co (TAP), Keurig Dr. Pepper (KDP), Yum! Brands (YUM), PG&E (PCG), Citrix Systems (CTXS), S&P Global Inc (SPGI) before market open; Amazon (AMZN), (OSTK), Albertsons Co (ACI), Altria Group (MO), T-Mobile (TMUS), World Wrestling Entertainment (WWE), Twilio (TWLO), Pinterest (PINS), Mohawk Industries (MHK), Upwork (UPWK), Skyworks Solutions (SWKS), United States Steel (X), Gilead Sciences (GILD), 
  • Friday: Caterpillar (CAT), VF Corp (VFC), Exxon Mobil Corp (XOM), Chevron Corp (CVX), Danimer Scientific (DNMR), Procter & Gamble (PG), AbbVie (ABBV), Charter Communications (CHTR) before market open