{"id":4266,"date":"2014-11-02T15:58:51","date_gmt":"2014-11-02T15:58:51","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=4266"},"modified":"2014-11-02T15:58:51","modified_gmt":"2014-11-02T15:58:51","slug":"11-2-14-factset-on-4th-quarter-2014-sp-500-earnings-estimates","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=4266","title":{"rendered":"11.2.14: Factset on 4th quarter, 2014, SP 500 Earnings Estimates"},"content":{"rendered":"

In yesterday’s SP 500 Weekly Earnings Update<\/a>, I tried to lay out the case for Technology and Industrial’s overweights, while quantifying the drag that the Energy sector was having on SP 500 forward earnings estimates.<\/p>\n

The\u00a0question on just how much of a drag the Energy sector was having on q4 ’14 and forward SP 500 earnings estimates wasn’t answered directly, but I hope to\u00a0have that for you this week.<\/p>\n

John Butters writes the weekly earnings commentary for Factset, and prior to do doing this for Factset, John was grand poohbah at Thomson Reuters, writing the “This Week in Earnings” weekly missive, which Greg Harrison now quite ably handles for T\/R. I read both every week, but our model is based on the hard data provided by Thomson, so we’ve stuck with Thomson Reuters as our (my) primary earnings data provider.<\/p>\n

In the Factset commentary this week, John Butters notes that:<\/p>\n

1.) “The q4 ’14 bottoms-up estimate (which is an aggregation for all the companies in the index) dropped by 2.7% this month”;<\/p>\n

2.) Without quoting verbatim, but using the Facset stats, the “average decline” during the first month of a quarter historically has been:<\/p>\n