Truck operator Ryder reported and raised the low end of its 2014 guidance range to $5.55 to $5.60 from $5.50 to $5.60. Demand and pricing trends have remained favorable. Lease sales have also been strong, a sign of improved demand for trucking services.
Roofing and fiber glass insulation company Owens Corning reported a strong beat. But it has not been able to raise prices, which has held down margins.
Stanley Black & Decker also reported a strong beat. The maker of power tools and locks for professionals and do-it-yourselfers narrowed its 2014 earnings-per-share guidance range to $5.52 to $5.58 from $5.50 to $5.60.
The one notable exception to fourth quarter guidance has been Lumber Liquidators.The hardwood flooring retailer missed by a large margin. Earnings were down 21 percent year over year, same-store sales were down 4.9 percent and guidance for Q4 was also below expectations.
What happened? Earnings and guidance suggests that demand for hardwood floors remains on the weak side.
1) On Tuesday, I noted how many stocks that had been killed during the decline from mid-September to the market bottom on Oct. 15 had rallied, and pointed out that many of them essentially regained all their losses.
This has been particularly noticeable in exploration and production stocks, as well as airlines.
For example, Chesapeake Energy dropped 28 percent from Sept. 18 to Oct. 15. Since then, it has risen 21 percent, according to Bespoke.
American Airlines dropped 17 percent from Sept. 18 to Oct. 15, and has risen 19 percent since then.
Royal Caribbean dropped 20 percent in that period. Since Oct. 15, it is up 16 percent.
In general, stocks that fell the most in that period were the ones that gained the most after the market bottomed on Oct. 15.
Read MoreStock market's biggest winners since the dip
2) Christmas is just 64 days away, and Hanukkah 55 days away. Retail sales grew a disappointing 3.1 percent last year, but there is reason to be more hopeful this year. Employment is considerably improved, the unemployment rate is down to 5.9 percent from 7.3 percent in October 2013. Still, the promotional environment is intense and the consumer is very price sensitive, according to RetailMetrics.