{"id":9813,"date":"2020-02-07T23:51:49","date_gmt":"2020-02-07T23:51:49","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=9813"},"modified":"2020-02-07T23:51:49","modified_gmt":"2020-02-07T23:51:49","slug":"weekly-earnings-update-nothing-really-new","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=9813","title":{"rendered":"Weekly Earnings Update: Nothing Really New"},"content":{"rendered":"
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click to open \/ enhance \/ enlarge<\/figcaption><\/figure>\n

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Great graph from David Aurelio of IBES by Refintiv on SP 500 subsectors seeing an earnings revision impact, some of which is undoubtedly due to the coronavirus.<\/p>\n

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Click to open \/ enhance \/ enlarge<\/figcaption><\/figure>\n

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Here is the typical chronological table from IBES showing the same data as the bar chart, in a different way.<\/p>\n

Note the strength in the Financial sector earnings, and Technology since January 1, ’20. That’s a 60% jump in Technology sector earnings since January 1, undoubtedly helped by Apple, and Microsoft. Microsoft hit an all-time-high today on better-than-average volume.<\/p>\n

If the yield curve would steepen a little, I think Financials could really outperform. The positive earnings revisions are there.<\/p>\n

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If readers are looking for a graphical representation for what a typical earnings season looks like, here is the graph off the first page of “This Week in Earnings” from IBES by Refinitiv:<\/p>\n

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click to enhance \/ open enlarge<\/figcaption><\/figure>\n

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There is your quintessential SP 500 EPS diagram showing the estimate revised lower into earnings season, and then the upward revision to the SP 500 EPS estimate once earnings start.<\/p>\n

Summary \/ conclusion: <\/strong><\/em>The hard SP 500 earnings data will be out this weekend, but I thought this might be of interest to readers. Will the coronavirus impact SP 500 earnings ? Sure, not surprisingly in sectors like Transports, Energy, Basic Materials, but you know all that already.<\/p>\n

For Q1 ’20 earnings, note where there is strength and that looks right now like Financials and Technology.<\/p>\n

Neither the SP 500 nor Apple finished above either’s respective all-time-highs this week, so play accordingly.<\/p>\n

Look for hard SP 500 earnings data over the weekend.<\/p>\n

Thanks for reading.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

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