From Bespoke Investment Group:
While stocks are trading lower today because of a poor reaction to Bank of America's and General Electric's earnings reports, the third quarter earnings season has gotten off to a stellar start. Since Alcoa (AA) kicked off earnings season, 85% of US companies have beaten earnings estimates. While we still have a long way to go this reporting period, the current beat rate is well above any other quarter since at least 1998....MOREThey followed that post with "Guidance -- Wow":
While the EPS beat rate this earnings season has been strong, there's another data point that has been even more eye-popping. While the earnings per share numbers grab the headlines, it's what companies say about their future quarters that impacts stock prices the most on their report days. As shown below, 20.3% of US companies have raised guidance so far this earnings season. The highest reading for this number has barely broken 15% in any prior quarter this decade....MOREMeanwhile, I was just reminded that the Epcot International Food & Wine Festival (Eat to the Beat Concert Series) is still going on. Here's the line-up:
Sept. 25-27
Big Bad Voodoo Daddy (“You & Me & The Bottle Makes 3 Tonight (Baby)”
Sept. 28-29 Richard Marx (”Hold On to the Nights”)
Sept. 30-Oct. 3 Starship starring Mickey Thomas (“We Built This City”)
Oct. 4-6 En Vogue (“Free Your Mind”)
Oct. 7-8 Better Than Ezra (”Good”)
Oct. 9-11 Sister Hazel (“All for You”)
Oct. 12-13 Kool & The Gang (“Celebration”)
Oct. 14-16 Spyro Gyra (“Morning Dance”)
Oct. 17-18 Jon Secada (“Just Another Day”)
Oct. 19-20 Sister Sledge (”We Are Family”)
Oct. 21-22 Vanessa Carlton (”A Thousand Miles”)
Oct. 23-25 Taylor Dayne (”Tell It to My Heart”)
Oct. 26-28 Boyz II Men (“Motownphilly”)
Oct. 29-31 John Waite (”Missing You”)
Nov. 1-2 Night Ranger (“Sister Christian”)
Nov. 3-5 Billy Ocean (”Caribbean Queen”)
Nov. 6-8 Los Lobos (“La Bamba”)
Here's Blondie:
