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As of this morning, 399 companies or nearly 80% of the S&P 500 have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 57%
- Companies Matching Estimates: 8%
- Companies Falling Below Estimates: 35%
Compared to three weeks ago when only 20% had reported, the breakdown has shifted with a larger increase in companies beating vs. missing estimates. Even compared to one week ago, the trend shows a slight increase in companies beating. On a percentage basis, steel players US Steel [X
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] and Nucor [NUE
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] continue to lead the list of upside surprises. In absolute dollars, energy and tech rule. Chevron's [CVX
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] $549 million surprise passes Pfizer's [PFE
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] $405 million surprise followed by Marathon Oil's $381 million and Apple's [AAPL
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] $347 million surprise. IBM [IBM
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] is next in line with a $336 surprise.
Earnings Leaderboard - Best Performers (as of 2/18) |
| Company | Symbol | Sector | Date | EPS Est. | Actual | %Chg |
| US Steel | X | Materials | 1/27/2009 | 0.75 | 2.00 | 167% |
| Nucor | NUE | Materials | 1/27/2009 | 0.13 | 0.34 | 162% |
| Stanley Works | SWK | Cons Disc | 1/28/2009 | 0.34 | 0.66 | 94% |
| Texas Instruments | TXN | Tech | 1/26/2009 | 0.12 | 0.21 | 75% |
| CF Industries | CF | Materials | 2/10/2009 | 2.11 | 3.59 | 70% |
| Janus Capital | JNS | Financials | 1/22/2009 | 0.03 | 0.05 | 67% |
On the downside, Financials continue to take all 5 of the 5 worst surprises. Fifth Third [FITB
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] leads the losers, reporting the biggest miss in that sector, off by a whopping 38,000%. In absolute dollars, Citigroup [C
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] leads with its $6.3 billion negative surprise followed by Regions Financial's [RF
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] $6.2 billion and Wells Fargo's [WFC
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] $4.7 billion downside surprises.
Earnings Leaderboard - Biggest Losers (as of 2/18) |
| Company | Symbol | Sector | Rpt Date | EPS Est. | Actual | %Chg |
| Fifth Third Bancorp | FITB | Financials | 1/22/2009 | 0.01 | -3.82 | -38,300% |
| Bank of America | BAC | Financials | 1/16/2009 | 0.01 | -0.48 | -4,900% |
| Marshall & Ilsley | MI | Financials | 1/15/2009 | 0.07 | -1.55 | -2,314% |
| Suntrust Bank | STI | Financials | 1/22/2009 | 0.07 | -1.08 | -1,643% |
| Capital One | COF | Financials | 1/22/2009 | 0.31 | -3.74 | -1,306% |
Source:Thomson Reuters
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