While the unofficial end of earnings season came last week when Wal-Mart (NYSE:WMT) reported, there were still 92 companies that reported this week. And the results were not very pretty. There were certainly a few solid reports from companies like Lowe's (NYSE:LOW), Best Buy (NYSE:BBY) and Urban Outfitters (NASDAQ:URBN), but the majority of companies that reported this week went down on their report days. Of the 92 companies that reported, 53 saw their stocks decline on their report days, while just 39 posted gains. Overall, the average stock that reported this week fell 1.65% on its report day, which is well below the average gain of 0.30% that stocks saw on their report days during the second quarter earnings season.
Forward guidance was notably weak as well. Of the companies that reported, negative guidance outnumbered lowered guidance by a margin of 4 to 1. Below is a list of the companies that lowered and raised guidance on earnings this week. As shown, the "lowered" list is littered with retailers like Abercrombie (NYSE:ANF), American Eagle (NYSE:AEO), Dick's Sporting Goods, Ross Stores (ROSS) and Ann Taylor (NYSE:ANN).