Greetings!
Below is a link to download our research note, Reporting Monitor. It breaks down S&P500 earnings reports as they come in, and groups them by Select Sector SPDR.
Reporting Monitor is published 3-4 times each quarter during the height of earnings season, and replaces the weekly ETF Spotlight newsletter during these times. This week's note covers Q1 2011 results from the 324 firms in the S&P500 that have reported so far, and expectations for the remaining firms.
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In this week's issue
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Q1 2011 Earnings Reports - Week Two
CONTENTS
- Earnings results...page 1
- Sales & margins...page 2
- Surprises, composition and valuation metrics...page 3
- Past, present & future earnings...page 4
HIGHLIGHTS:
After a busy week for reports, overall S&P earnings growth is forecast at 19.3%, up from 16.9% last week. Energy (XLE) and Tech (XLK) remain the largest contributors...chart below. Sales are up about 8.6% YoY (4.6% ex-Energy) but so far higher raw materials costs have not hurt margins of most sectors with the possible exception of Consumer Staples (XLP)..page 2. Materials (XLB) and Industrials (XLI) have delivered the biggest upside surprises, but the usually-predictable Health Care sector (XLV) also posted large surprises...page 3.
To download the full report click here
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