While You Were Watching The Election Soap Opera, Earnings Season Was ‘Stellar’

While You Were Watching The Election Soap Opera, Earnings Season Was ‘Stellar’

You may not have noticed, but Q3 earnings season went remarkably well. In fact, it was "stellar," to quote Goldman's David Kostin. More than two-thirds of S&P 500 companies beat consensus by one standard deviation or more. That was the best showing in at least 22 years. Only 6% of companies missed. That was the lowest share ever. Headed in, consensus expected a 21% YoY decline. Instead, the drop was just 8%. A similar dynamic played out in Q2, although the severity of the situation mad
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3 thoughts on “While You Were Watching The Election Soap Opera, Earnings Season Was ‘Stellar’

  1. The small businesses that are closing all over America aren’t listed on stock exchanges. The sad reality is that they are going the way of the small family farmers who took care of 40 acres. These are real people, who are really suffering.

    We are seeing a huge wave of consolidation in the Hospitality Industry…just like the factory farms who bought farm after farm, 40 acres becoming 400 becoming 4000.

    The era of diverse, small, locally-owned businesses is gone. Another casualty of the Pandemic.

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