CHICAGO, July 28, 2014 /PRNewswire/ -- Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Tesla (Nasdaq:TSLA-Free Report), Whole Foods (Nasdaq:WFM-Free Report), Pfizer (NYSE:PFE-Free Report) and ExxonMobil (NYSE:XOM-Free Report).
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Can Q2 Earnings Sustain This Improvement?
We are in the heart of the Q2 earnings season with a deluge of announcements this week. In total, we should see Q2 reports from close to 1000 companies, including 149 S&P 500 members.
The bulk of the reporting season will be behind us by the end of this week as we will have seen results from 378 of the S&P 500 members by then. This week's reporting docket presents a blend of companies from different industries, ranging from 'growthy' momentum players like Tesla (Nasdaq:TSLA-Free Report), to former stars like Whole Foods (Nasdaq:WFM-Free Report), and blue-chip operators like Pfizer (NYSE:PFE-Free Report) and ExxonMobil (NYSE:XOM-Free Report).
We will see how the rest of this reporting season brings, but the picture emerging from what we have seen already is very encouraging - the growth rates are better, more companies are coming ahead of estimates, and there is even some modest improvement on the guidance front. Guidance still remains weak, with most companies guiding lower. But the proportion of companies guiding lower is smaller than what we have been seeing in recent quarters. And even those that don't offer guidance have been qualitatively talking up their business outlook.
The Scorecard Thus Far (as of Friday morning, July 25th)
As of Friday, July 25th, we have seen Q2 results from 229 S&P 500 members that combined account for 58.1% of the index's total market capitalization. Total earnings for these companies are up +9.8% from the same period last year, with a 'beat ratio' of 69.4% and a median surprise of +2.86%. Total revenues are up +5.4%, with a revenue 'beat ratio' of 63.8% and a median surprise of 0.78%.
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