Today's Chart of the Day studies the various companies that have released earnings reports since last Monday, January 9th. We concerned our study with companies with at least $1 billion market cap, giving us 35 companies to analyze. Each of the charts are self-explanatory showing how many companies beat earnings estimates, year over year revenue, and how much companies on average moved after either beating or failing to beat consensus estimates.
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The companies covered in this report are New Oriental Education and Tech Group (EDU), Supervalu (SVU), Citigroup (C), Fulton Financial (FULT), State Street (STT), Bank of New York (BK), PNC (PNC), JPMorgan Chase (JPM), Fastenal Co. (FAST), M&T Bank (MTB), Aloca (AA), The Charles Schwab Corp. (SCHW), Wells Fargo (WFC), Cree (CREE), Lennar (LEN), Linear Technology (LLTC), Infosys (INFY), Northern Trust (NTRS), TD Ameritrade (AMTD), First Republic Bank (FRC), Shaw Communications (SJR), ASML (ASML), US Bancorp (USB), Schnitzer Steel (SCHN), Taiwan Semiconductor Mfg. (TSM), Forest Labs (FRX), McMoRan Exploration (MMR), Washington Federal (WFSL), Goldman Sachs (GS), Check Point Software (CHKP), ADTRAN (ADTN), Acuity Brands (AYI), Amphenol (APH), and SYNNEX (SNX).
With these numbers, we see that for the most part things have been pretty neutral as far as reporting goes this year. Eighteen companies have beat earnings while 14 have missed earnings estimates. More companies have seen a rise in revenue year over year than have not, but it has not been by a staggering margin at all. Eighteen companies have risen the next day after earnings, while 16 companies have fallen.
What we have seen so far this year is that earnings have been fairly flat. Financials have been the majority of earnings, and they have not been terribly great. So what has been strong?
Some of the best highlights have been good outlooks from Aloca and stronger than expected results form Lennar. Probably the most surprising winner thus far has been ASML from the semiconductor equipment side. We would definitely keep our eye on these there industries: Basic materials, residential construction and semiconductors.
Semiconductors looked to be one of the weakest industries this quarter due to the Thailand flood issue, but if they continue to outperform, these companies will shoot up after a rough finish to 2011. We would be watching Seagate (STX), Intel (INTC) and Novellus (NVLS) for lots of upside.
Additional disclosure: We may initiate a position in C in next 72 hours.