NEW YORK (CNN/Money) -
Strong second-quarter earnings from the majority of the Standard & Poor's 500 have done little to temper worries that corporate profits are set to slow in the second half.
Earnings from a few big league companies will trickle in here and there through the rest of the summer, but next week is the last big blast. Cisco Systems (CSCO: Research, Estimates), Dell (DELL: Research, Estimates), Wal-Mart Stores (WMT: Research, Estimates) and Walt Disney (DIS: Research, Estimates) are all expected to report their earnings in the week ahead.
More than 85 percent of the Standard & Poor's 500 have reported second-quarter earnings so far. According to tracking firm First Call, earnings are set to rise 26.1 percent from a year earlier. That would mark the fourth consecutive quarter of year-over-year growth of over 20 percent.
So far, 86 percent of companies' results have met or topped estimates. None too shabby.
It's the stretch beyond the second quarter that investors are less comfortable with. A slowdown in the second and third quarters is unsurprising, due to tougher comparisons to a year ago.
But the onset of it has been particularly unsettling, as it is happening alongside record high crude oil prices, a period of slower economic growth, a rising interest rate environment and a close presidential election.
Currently, third-quarter earnings are set to rise 15 percent, a figure that hasn't budged in two weeks, according to First Call. Earnings in the fourth quarter are expected to have risen 15.7 percent.
"We're definitely getting more warnings than in the first half," said Jaseem Hasib, a First Call research analyst.
Hasib said that the ratio of negative pre-announcements to positive ones in the third quarter is currently 1.7 to 1. That's an improvement from the historic ratio of 2 warnings for every 1 increased forecast, but a decline from last quarter, when there were 1.2 warnings for every one positive pre-announcement.
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