Thursday, August 13, 2015

8/13/15 S&P 500 earnings so far for Q2

Wild Philip Davis with his very expensive subscription website did a free post where he showed the top 25 cap companies in the S&P 500.  He said only 8 of them were cheap.  Actually he said seems cheap because they corrected fairly well.  Chevron, Exxon, Apple, Proctor & Gamble, IBM, Intel, HP, and Walmart are the eight.  Therefore he was shorting the S&P with SDS right here and now.  Which ones do you think are cheap and will go up and which ones not so much?  The top 25 of the 500 make up 44% of the capitalization of the SPX index, according to him.  Of the 24 companies listed in his image the weights added up to 34%.  I don’t know what the discrepancy could be.  Maybe I can’t add.  Maybe weights are different from capitalization.

Here is the latest earnings, GAAP of course, from the Standard & Poors website:
                                                                                 With 91.8% in
Q4’14 $22.83                      Q1’15 $21.81                      Q2’15 $22.87
Q4’13 $26.48                      Q1’14 $24.87                      Q2’14 $27.14
Down 13.78%                     Down 12.30%

 The estimate for Q1’15 was $25.27 and it came in at $21.81.  Big difference.

The estimate for Q2’15 was $27.48 and so far is at $22.87.  I see no way it will come in near the estimate.  Even S&P is full of shit.

A lot of the late reporters are late reporting because they have poor results and I expect year over year to be down for three quarters in a row.

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