As of this morning, 473 of the S&P 500 companies (just under 95%) have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 312 or 66%
- Companies Matching Estimates: 47 or 10%
- Companies Falling Below Estimates: 114 or 24%
With most of the S&P 500 constituents having reported already, the leaderboard stayed the same this week with Office Depot on top. 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.
On the downside, the the story remains the same. Banks lead the losers with Legg Mason reporting the biggest miss in that sector, off by 269%. In absolute dollars, GM replaces Merrill as the biggest loser with its $4.9 billion downside surprise. Merrills' loss was $3.0 billion more than expected, followed by AIG's $2.97 billion, and WaMu's $2.3 billion.