<<About half of the companies on the S&P 500 have now released their corporate scorecards, and their results have put investors in a buying mood, analysts said.
Out of the 265 companies that have reported, 57.4 percent have surpassed consensus forecasts, while 17.4 percent have fallen below, and the remaining 25.3 percent have reported on target, according to I/B/E/S, a tracking firm.
On average, the companies have beat the I/B/E/S consensus forecast by 2.5 percent, pointing to 16.7 percent year-over-year growth.
``The fact that the numbers, in a number of case, are quite strong has given people a lot of comfort that the worst is over in terms of at least Q3 (third quarter) and guidance for Q4 (fourth quarter) or 2001,'' said Don Ross, chief investment officer at National City Corp.>>
Great observation you made.. and old mantra strong economy strong numbers does seem to work.. the best thing is that the strong growth in profits is in a environment where we are down quite a bit from tyhe highs made and 4220 looks quite doable.. even economic and political events are shaping up nicely, the embargo fear has receded, the winters so far has been milder and profits are better.. that is all good.. |
