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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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Fri, 02/01/2013 - 16:00 | 3207214 Say What Again
Say What Again's picture

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

Hey Bernank,
Your team is getting lazy!!!

Fri, 02/01/2013 - 16:04 | 3207234 Say What Again
Say What Again's picture

Last Hour of the regular session.

Time for the MOC sell-off.

Hmmmm...   Why does that sound unusual?

Fri, 02/01/2013 - 16:15 | 3207287 Lohn Jocke
Lohn Jocke's picture

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

Fri, 02/01/2013 - 16:34 | 3207358 Say What Again
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?

Fri, 02/01/2013 - 17:09 | 3207487 disabledvet
disabledvet's picture

Just guessing but I'd say the Federal Government.

Fri, 02/01/2013 - 16:18 | 3207301 tbone654
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?

Fri, 02/01/2013 - 16:14 | 3207284 Unprepared
Unprepared's picture

Relax, Ben got this covered through his ZVIPTM.

 

*Zero VIX Policy (can it go negative?)

Fri, 02/01/2013 - 16:16 | 3207292 Lohn Jocke
Lohn Jocke's picture

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

Fri, 02/01/2013 - 16:01 | 3207220 Lost Wages
Lost Wages's picture

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

Fri, 02/01/2013 - 16:02 | 3207222 Cognitive Dissonance
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.>

Fri, 02/01/2013 - 16:12 | 3207270 wee-weed up
wee-weed up's picture

October 19, 1987...

Here we come!

Fri, 02/01/2013 - 23:16 | 3208428 OldTrooper
OldTrooper's picture

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

Fri, 02/01/2013 - 16:04 | 3207238 Wm the Shrubber
Wm the Shrubber's picture

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

Fri, 02/01/2013 - 18:15 | 3207679 max2205
max2205's picture

Bank earnings are bullshit and dont count

Fri, 02/01/2013 - 16:07 | 3207248 fonzannoon
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.

Fri, 02/01/2013 - 16:13 | 3207277 Cursive
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.

Fri, 02/01/2013 - 16:16 | 3207285 fonzannoon
fonzannoon's picture

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

Fri, 02/01/2013 - 16:28 | 3207321 Buckaroo Banzai
Buckaroo Banzai's picture

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

Sat, 02/02/2013 - 02:57 | 3208729 Tijuana Donkey Show
Tijuana Donkey Show's picture

Fraud, gadgets, and poison......

Sat, 02/02/2013 - 09:24 | 3208901 rbg81
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.

Fri, 02/01/2013 - 16:18 | 3207298 Flankseven
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?

Fri, 02/01/2013 - 16:26 | 3207325 Village Smithy
Village Smithy's picture

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

Fri, 02/01/2013 - 16:47 | 3207420 optimator
optimator's picture

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

Sat, 02/02/2013 - 09:25 | 3208903 rbg81
rbg81's picture

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

Fri, 02/01/2013 - 16:19 | 3207305 TonyCoitus
TonyCoitus's picture

I'm not leaving my wingman! 

 

BTFD.....if we get one

 

To the moon Alice!

Fri, 02/01/2013 - 16:29 | 3207336 mayhem_korner
mayhem_korner's picture

 

 

Can we summarize as the 'bots and their masters? 

(Monsanto just provides the hors d'oeuvres)

Fri, 02/01/2013 - 16:44 | 3207410 Hobie
Hobie's picture

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

Fri, 02/01/2013 - 16:40 | 3207383 eddiebe
eddiebe's picture

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

Fri, 02/01/2013 - 16:58 | 3207454 ydderf1950
ydderf1950's picture

do not fight the fed

Fri, 02/01/2013 - 16:39 | 3207386 Gimp
Gimp's picture

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

Fri, 02/01/2013 - 17:07 | 3207480 Say What Again
Say What Again's picture

You get one of the following;

----->

1: Divide by Zero error

2: Stack overflow error

Fri, 02/01/2013 - 18:00 | 3207660 El Hosel
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.

Fri, 02/01/2013 - 16:51 | 3207428 Racer
Racer's picture

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

Fri, 02/01/2013 - 16:50 | 3207435 orangegeek
orangegeek's picture

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

 

 

Fri, 02/01/2013 - 17:43 | 3207590 de3de8
de3de8's picture

Where's A-123 and Solyndra?

Fri, 02/01/2013 - 23:51 | 3208495 Trimmed Hedge
Trimmed Hedge's picture

Where's Waldo and the beef..?

Fri, 02/01/2013 - 18:29 | 3207696 847328_3527
847328_3527's picture

Where is MF Global on that list?

Peregrine?

Fri, 02/01/2013 - 18:43 | 3207722 DensDollars
DensDollars's picture

It's GS, not MSFT !

Fri, 02/01/2013 - 23:43 | 3208480 Trimmed Hedge
Trimmed Hedge's picture

It's ORCL & GS...

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