S&P500 EARNINGS RUN THROUGH (Source: FactSet)
* 446 companies have reported with a 77% EPS (5 year avg 73%), and a 60% sales, beat rate.
* EPS growth for 3Q is 7.6%, which is better than expectations on Sept 30th of 4.5%. 9 out of 10 sectors has better growth today.
* Sales growth is 4% vs estimates of 3.8% at 30th Sept. The energy sector is the only one seeing –ve growth.
* How have the stocks reacted? Beat and the average stock increases 2.5% from 2 days before to 2 days after.
* Guidance for 4Q – 55 have issued –ve guidance and 18 +ve guidance.
* Profit margins for the S&P 500 have grown to record levels, coming in at 10.1% of sales in 3Q.