From MarketBeat:
Some 79% of the 61 companies in the S&P 500 that have reported third-quarter earnings so far have managed to beat analyst expectations for profits, according to LPL Financial’s chief market strategist, Jeffrey Kleintop. Still, the market’s reaction has been muted.
“Based on last week’s reception, companies appear to have to present revenue growth combined with much better than earnings expected results to generate anything more than a yawn from the stock market—which appears to be nearly saturated with good news,” he wrote in a research note out Monday evening.
We have seen some of the poorest market reactions reserved for companies that have missed on the top line....MORE
I was criticized by a hedgie the last time* I used this video. This morning I forgot to grab some coffee on the way in, I hope he understands.
The Go-Go's:
*July 2008: First Solar to Beat and Raise, Market Yawns (FSLR)
At least that's what the stock was saying today. Up $4.44 on a down 2% day. They report after the close Wednesday.
Sometimes it seems that the action is singing to you.
Note the sweet moves of the youthful Mr. Ahearn, before he is directed by counsel to resume insider sales.
(@1:45).
Here's We Got the Beat...All three down. As grandmother used to say "Secular bear markets aren't just about declines [although they can be doozies], they're also about multiple contraction."
"Grandma, what's a doozie?"
