August 11, 2014
THE ELECTION CAN'T COME FAST ENOUGH:
Corporate America's 'report cards' are strong (Ben Rooney, August 11, 2014, CNNMoney)
Posted by Orrin Judd at August 11, 2014 2:39 PMThe quarterly "report cards" from Corporate America are honor roll quality.About 90% of the companies in the S&P 500 have reported earnings so far for the second quarter. Nearly three quarters of them were better than expected. That's a very high percentage, and it's being driven largely by performance.In the end, earnings are expected to be up 9.9% over last year, according to S&P Capital IQ, which compiles estimates from Wall Street analysts. [...]"It's been an exceptionally strong earnings season from a growth -- revenue as well -- standpoint," Dan Greenhaus, chief market strategist at BTIG, wrote in a note to clients. That's "ironic given how poorly stocks have traded of late," he added.The Dow Jones industrial average has tumbled more than 3% in recent weeks since hitting its most recent all-time high on July 16. The Dow rebounded on Friday and is up on Monday, but investors have clearly been rattled by intensifying conflicts in Iraq and Israel, as well as a showdown between Russia and the West over Ukraine.