As of this morning, 292 of the S&P 500 companies (just under 60%) have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 187 or 64%
- Companies Matching Estimates: 35 or 12%
- Companies Falling Below Estimates: 70 or 24%
So far, the consumer discretionary sector has had some of the biggest surprises to the upside, with Brunswick Corp. reporting EPS that was 110% above expectations. In absolute dollars, Ford leads with its $1.0 billion surprise followed by Morgan Stanley and Goldman Sachs with their $444 and $295 million respective surprises.
On the downside, toy maker Mattel , another consumer discretionary player, leads the losers off by 1400%. In absolute dollars, Wachovia is still the biggest loser with its $1.0 billion downside surprise. Bank of America follows with its downside surprise of $800 million.