Trading Alpha

Earnings Beat Rate off the Charts

Who cares what estimates are. Companies did not give much uidance so analysts went really low. CNBC focuses on expectations and little attention is given to the fact most of the companies are down in revenues by 10%, 20% or 30% or more as compared to the prior year Look at CAT today. Revenues down 40% and people are celebrating. The market needs to focus on revenues as cost cutting is a limited game and demonstrating a pulse is not much better.