Market Punished S&P 500 Companies Reporting Negative EPS Surprises in Q1

The market has rewarded positive earnings surprises in Q1 less than average

 

The market has punished negative earnings surprises more than average during this earnings season. Companies in the S&P 500 that have reported positive earnings surprises for Q1 have seen an increase in price of 0.7% on average from two days before the company reported actual results through two days after the company reported actual results.

Companies in the S&P 500 that have reported negative earnings surprises for Q1 have seen a decrease in price of -3.5% on average from two days before the company reported actual results through two days after the company reported actual results. While more S&P 500 companies have issued negative EPS guidance for the second quarter than average, industry analysts have made smaller cuts to Q2 EPS estimates than average.

 

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