With WFR's earnings report today, all 18 Group and SOX stocks that report 2nd quarter results on a CY/FY year basis have been reported. In general, it has been a very positive 2nd quarter.
At the bottom line, actual results were 8.98 compared to the estimates of 7.54, a positive result of 1.44(19%). Again, at the bottom line, the actual results for June exceeded the March actuals by 2.79 which was much more than the 0.86 number comparing the Mar to the Dec quarter, and it was more than the 2.64 number comparing the Dec quarter to the Sep quarter.
All of this positive reporting and for the most part, quite positive remarks on the remainder of the year stated by most CEOs, this year earnings and next year earnings estimates shown in the last 2 columns were raised considerably as well. These numbers will undoubtedly climb further as the 2nd quarter results and the future outlooks are further digested by the analysts.
However, even with all this good news, stock prices for the Group and SOX will be falling this week as followers of this sector well know. Last week the SOX closed at 364.53. Today it closed at 352.52(-3.3%). Three weeks ago, just prior to the start of the 2nd quarter reporting, the SOX closed at 351.36, so at the moment, 1 trading day away from the end of the 3 week period, the gain in the SOX is 0.3 percent. At the moment, the market obviously is not sold on the future no matter what the companies report and the CEOs project into the future.
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