Looking Out To August As July Melts: All Hell Will Likely Break Loose Next Week Going Into Earnings Season
July 4th, 2013
All hell will likely break loose next week going into earnings season.
Major wailing and gnashing of teeth ‚Äď expecting the biggest drop of the year.
Will post more when it looks like a sure thing.
Wall Street Is Pretty Sure That Earnings Season Will Be Crappy
‚Äú21 May quarter end companies reported 2Q results, 62% beat consensus EPS w/ a 1.7% surprise in aggregate,‚ÄĚ wrote Deutsche Bank‚Äôs David Bianco in a note to clients this week. ‚ÄúThe surprise was slightly below the last few quarters. Aggregate y/y EPS growth was 7.9% and 5.8% for revenue; this would be healthy S&P growth, but early reporters normally exceed the S&P.‚ÄĚ