We‚Äôre hip deep in corporate earnings this week. More than 1,000 companies are sharing their quarterly results with us. We entered the week with overall earnings reports producing a mixed bag — IBM (IBM) missed due to weakness in Asia, while Del Frisco‚Äôs (DFRG) and Darden International (DRI) cited weak consumer spending and restaurant traffic for falling short.
There were some high fliers last week in the form of General Electric (GE) and Chipotle Mexican Grill (CMG), but at best corporate earnings for the September quarter have been mixed thus far. According to FactSet, of the 97 S&P 500 companies that have reported their earnings through last week, 69% announced actual earnings per share (EPS) above the mean EPS estimate and 31% have reported actual EPS below the estimated mean EPS. Compared to the last four years, that‚Äôs below the 73% of companies that reported actual EPS above the mean EPS estimate.
Read more about how corporate earnings reports affect you.