As of yesterday, over 80% of the S&P 500 companies have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 65%
- Companies Matching Estimates: 8%
- Companies Falling Below Estimates: 27%
Compared to just over a week ago when only 40% had reported, the breakdown has shifted with an increase in companies beating vs. meeting estimates. Textron has had the biggest percent surprise to the upside followed by Caterpillar , and Bank of America. In absolute dollars, financials take 4 of the 5 top spots on the leaderboard. After BAC's surprise of nearly $2.5 billion, Ford follows with its $1.4 billion surprise. Citigroup's $876 million surprise is next.