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Strategies & Market Trends : General market lab and commentary

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Nov 14 4:00 PM EST

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From: Robohogs	4/15/2016 5:40:04 AM
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Earnings trouph upon us: Even though this may be the worst earnings decline for a quarter since 2009, Savita Subramanian, equity and quant strategist at Bank of America Merrill Lynch, sees this as the “trough” quarter. “Analysts expect a third consecutive quarter of negative earnings growth (-9% YoY) that is expected to mark the trough as the macro headwinds abate in subsequent quarters,” Subramanian said in a note. Plus, Subramanian notes, the 22 companies that have reported “early” earnings—firms with fiscal quarters that ended in February ending quarters—are showing better-than-expected results: 82% have beaten earnings estimates, 64% have beaten sales estimates, and 55% beat both. “These hit rates are higher than we saw for last quarter’s early reporters, particularly for sales beats, where just 25% of 4Q15’s early reporters had beaten on the top-line and 25% had beaten on both EPS and sales,” Subramanian said.

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