So far 291 (just under 60%) of the S&P 500 companies have reported earnings.
Here's how things stand:
Companies Exceeding Estimates: 174 or 60%
Companies Matching Estimates: 40 or 14%
Companies Falling Below Estimates: 77 or 26%
So far it is the Energy and Tech Sectors that have the biggest surprises to the upside, with Exxon Mobil delivering $982 million more than analysts expected. Valero Energy surprised with EPS that was 59% above expectations.
On the downside the banks and homebuilders lead the losers with Merril Lynch missing by $6.3 billion more than analysts expected.