Earnings season is only about half over – but investors have already gotten the wits scared out of them more than a few times.
There have been 11 companies, including casino operator Wynn Resorts, online portal Yahoo and automaker Ford that have terrified investors with first calendar adjusted quarterly results that have missed expectations by a hair-raising 10% more more, according to a USA TODAY analysis of data from S&P Capital IQ.
Fortunately, the companies scaring investors to death with their profits might get lots of attention – but they've been in the minority. So far, more than 211 companies in the Standard & Poor's 500 have reported their first calendar quarter results, says S&P Capital IQ. Of those 72% have beaten expectations and just 9% have missed them. Seeing so many companies beat estimates is a good thing since earnings are now on pace to be down just 0.3% for the quarter, an improvement from the 2% to 3% decline expected weeks ago.