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Stocks Fall Prey to One Bad Earnings Report

NEW YORK (TheStreet) -- We're a week into earnings and so far, so good.

But, as we've seen over the past few days, one company's poor performance has the potential to tank a sector. With so many multibillion-dollar companies reporting next week, investors will be navigating a minefield.

In particular, investors are keen to determine what earnings reveals about the state of the U.S. -- and, for multinationals, global -- economy.

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"You could see a lot of company-directional movement that doesn't actually have a pattern to it other than whether it forecasts affirmation of what is expected or deviates from that expectation," Joe Mayo, head of credit research at Conning, told TheStreet on likely market direction in the near term.

Must Read: 5 Big Stocks to Trade for Big Gains

Wall Street got a taste of one company's quarterly performance pulling down an entire sector this week. Industrial bellwether Honeywell (HON - Get Report) slid after quarterly revenue slid 5% on weak demand from its oil and gas customers. That put pressure on stocks across the materials, industrials and...