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.
Citi:
Upward revisions as a % of total revisions for the S&P 500 were up thus far in July from June with eight of the ten 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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