How is this earnings season faring? Most sectors are experiencing an increase in the amount of upward earnings adjustments so far in July, as shown below from Tobias Levkovich.
Upward revisions as a % of total revisions for the S&P 500 were up thus far in July from June with eight of the 10 sectors showing an increase.
Also note that 54.78% of revisions are now positive for the S&P500, which means that the majority are. This is a substantial change from June, when the majority of earnings adjustments weren’t positive.
Industrials and Information Technology are experiencing a particularly strong earnings revision environment, whereby over 70% of analyst changes have been positive in July.
(Via Citi, PULSE Monitor, Tobias Levkovich, 23 July 2010)
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