These 10 Companies Have Contributed Over 90% Of The S&P 500 Earnings Beat Upside

Tyler Durden's picture

While Q4 earnings are sagging notably (as we pointed out here - 8% lower than pre-earnings-season expectations), the incessant ratcheting down of the expectations as the season progresses enables an ever-more-desperate sell-side to opine on the eventual 'beat' that evolves from a lower and lower bar. As Morgan Stanley's Adam Parker notes, however, the results have been massively top-heavy as the largest 10 earnings beats have contributed over 90% of the S&P 500 uspide in aggregate earnings. MSFT and JPM alone account for 50% of that beat. But with guidance plunging, Parker sees 2013 consensus estimates of $112 massively out of line with reality.


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Say What Again's picture

Should I be nervous?
The VIX broke through 13 to the upside.

Hey Bernank,
Your team is getting lazy!!!

Say What Again's picture

Last Hour of the regular session.

Time for the MOC sell-off.

Hmmmm...   Why does that sound unusual?

Lohn Jocke's picture

You're cutting and pasting comments. The lazy calling out the lazy.

Say What Again's picture

Looks like ORCL is either first or second on that list.

Homework assignment: What is the largest customer group for ORCL?

disabledvet's picture

Just guessing but I'd say the Federal Government.

tbone654's picture

Some systems don't even recognize MOC orders anymore...  And lately it's been a melt-up rather than a sell-off...

Do I win?

Unprepared's picture

Relax, Ben got this covered through his ZVIPTM.


*Zero VIX Policy (can it go negative?)

Lohn Jocke's picture

What does VIX know that...oh...oh ok.

Lost Wages's picture

Get yourself some index funds, take a nap and enjoy the federal largesse!

Cognitive Dissonance's picture

I don't need no stinking reality. I got me some hopium.

<Don't bogart that hopium my friend. Pass it over to me.>

wee-weed up's picture

October 19, 1987...

Here we come!

OldTrooper's picture

Well, at least 4 people get the references, CD.

Wm the Shrubber's picture

No matter.  Multiples will continue expanding thanks to Fed repression.  Earnings down, markets up.  Any questions?

max2205's picture

Bank earnings are bullshit and dont count

fonzannoon's picture

I hope Tyler makes this Schiff interview right now the feature interview tonight. Just as great as Schiff is, the total cockface after him getting run over is awesome.

Cursive's picture

5 Banks, 4 tech giants and 1 ag hustler.  The stock market is up on reserve releases, channel stuffing and vig payments to an ag hustler.

fonzannoon's picture

5 banks, 4 tech giants and 1 cropduster. lol.

Buckaroo Banzai's picture

Money, gadgets, and poison-- Ladies and Gentlemen, YOUR 2013 US economy!

rbg81's picture

Actually, its 4 banks, not 5.  But even more disconcerting is that two of those banks (JPM and GS) make up 50% of the total.

Flankseven's picture

Umm, wouldn't that be JPM and GS contributing 50% of the beat?  Or I am I reading the chart wrong?  And wouldn't that amplify the case?

Village Smithy's picture

What a circus! 50% from 2 companies that are the champions of fantasy accounting and sucking up govt. largesse.

optimator's picture

And the two companies that add nothing to the economy.  Instead they drain money from the economy. 

rbg81's picture

Come on.  Everyone knows you have to destroy the economy in order to save it.

TonyCoitus's picture

I'm not leaving my wingman! 


BTFD.....if we get one


To the moon Alice!

mayhem_korner's picture



Can we summarize as the 'bots and their masters? 

(Monsanto just provides the hors d'oeuvres)

Hobie's picture

That'd be whores doves after a little genetic mofication.

eddiebe's picture

I guess that's why the saying goes:        ' Follow the money.'

Gimp's picture

When the VIX and all the bearish ETFs hit zero at dow 17500 what happens then???

Say What Again's picture

You get one of the following;


1: Divide by Zero error

2: Stack overflow error

El Hosel's picture

What happens? Shit happens, then and now.... I suppose. Looks like gasoline would be $5/$6 by then, might see hitchiking make a comeback and maybe the Ford Pinto.

Racer's picture

And don't tell me, JPM only did that cos of fiddling the books!

orangegeek's picture

Not the first time where earnings have been shit and the market moves up.



de3de8's picture

Where's A-123 and Solyndra?

Trimmed Hedge's picture

Where's Waldo and the beef..?

847328_3527's picture

Where is MF Global on that list?


DensDollars's picture

It's GS, not MSFT !