Excerpt from Jeff Cox’s latest article for CNBC quoting DataTrek’s Nick Colas:
…. “Expectations for the July-to-September period have changed little even as earnings momentum otherwise has grown. Analysts surveyed by FactSet still expect the quarter to grow 21.5 percent, a notch below the 21.6 percent estimate as of June 30. Revenue growth also has come down a bit, to 7.5 percent from the 7.6 percent projected at the end of June.
“This is not what we expected to see, given the magnitude of the beats so far for Q2,” Nick Colas, co-founder of DataTrek Research, said in the firm’s market note Monday. “Our explanation (for now) it that the revisions will come as more companies report and analysts assimilate all that data into future earnings expectations.”….
Read the whole article here on CNBC!