As of this morning, 449 of the S&P 500 companies (just under 90%) have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 295 or 66%
- Companies Matching Estimates: 47 or 10%
- Companies Falling Below Estimates: 107 or 24%
Two of the five biggest surprises came in last week, lifting Utilities to take 40% of the top 5 spots on the leaderboard. In absolute dollars, CIT Group still leads with its $944 million surprise followed by Bank of America's $847 million, Citigroup's $634 million and MBIA's $555 million surprise.