Q2 Earnings season get into high gear - Earnings Preview

Zacks Investment Research
Zacks Investment Research
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Posted: Jul 12, 2013 10:21 AM

The 2013 Q2 earnings season gets into high gear this week as earnings reports from 178 companies come out, including 76 from the S&P 500. By the end of this week, we have earnings reports from more than a fifth of the index’s total membership; giving us a good enough sample size to judge the Q2 earnings season.

This week’s reporting docket is heavy with Finance sector results, but we have plenty of bellwethers from other key sectors on deck as well, which makes this week’s reports a fairly representative sample. From Google (GOOG), IBM (IBM), and Intel (INTC) to Coke (KO) and Johnson & Johnson (JNJ) and Pepsi (PEP) and much more in between, this week’s reports span the full spectrum of the economy. While earnings reports from almost 80% of the S&P 500 companies will still be awaited by the end of the week, the trends established this week will likely carry through the rest of this reporting cycle with only minor changes.

With respect to the results thus far, we have seen Q2 results from 29 S&P 500 members (as of Friday, July 12th). These results provide a bit of a mixed picture, though not materially different from what we saw in Q1. Earnings and revenue growth for these 29 companies are comparable to what these same companies achieved in 2013 Q1. But the beat ratios (% of companies coming out with positive surprises) are modestly weaker on the earnings side and about the same on the revenue side. Given the very small sample size, it is not advisable to draw any conclusions at this stage. As such, the more important story on the earnings front pertains to expectations form the coming reports.

In terms of earnings growth, the remaining Finance sector companies are expected to sustain the trend established by J.P. Morgan (JPM) and Wells Fargo (WFC), even though both banks cautioned against the impact of higher interest rates on mortgages in an otherwise low demand backdrop for loans. The spike in interest rates will in the long run help improve net-interest margins for the banks, though margins will likely be flat at best in Q2, as was the case with these two banks.

Total earnings for the rest of the Finance sector are expected to be up +20.5% from the same period last year, with favorable comparisons at Bank of America (BAC), Citigroup (C), and Goldman Sachs (GS). The composite picture for the Finance sector, combining the results that have come out with those still to come, is for earnings growth of +21.3% from the same period last year, an improvement from what was expected before the JPM/WFC results.

The composite Q2 earnings growth picture - combining the result for the 29 companies that have come out with results with the 471 still awaited – shows a growth rate of +0.7% on -0.7% lower revenues and modestly higher margins. This is sharply down from +3.9% growth expected in early April. Nine of the 16 Zacks sectors are expected to show negative earnings growth in Q2. But the growth picture in Q2 is even more underwhelming when Finance is excluded from the data. Outside of Finance, total earnings for the S&P 500 would be down -3.4%.

Unlike Finance, the earnings picture for the Technology sector remains fairly weak. Total earnings for the sector are expected to be down -8.3% from the same period last year, which follows the -4.2% earnings decline in Q1. Earnings estimates for the sector steadily came down as the quarter progressed, with the current -8.3% decline down from the expected decline of -3.1% in mid-April. Excluding Technology, total Q2 earnings for the S&P 500 would be up +2.8% from the same period last year.

The weakest group within the Technology sector is the PC makers, with total earnings for the Computers and Office Equipment industry expected to be down -16.1% in Q2 after the -14.1% decline in Q1. Semiconductors and electronics are other Tech industries with negative earnings growth in the quarter, while the software group is expected to show a modest positive growth.

High Expectations for Second half & Next year

Expectations for total earnings in 2013 have come down as estimates for Q2 were revised lower, though estimates for the second half of the year and full-year 2014 have held up fairly well. The +6.3% growth in total earnings this year, down from +6.8% in early April, reflects a material ramp up in the second half of the year that is then expected to carry into 2014. Combining the actual results for Q1 with estimates for Q2 gives us +1.7% year-over-year growth in total earnings during the first half of 2013. But total earnings are expected to be up +8.1% in the second half of the year and further +11.4% in full-year 2014.

Total earnings for companies in the S&P 500 in Q2 are expected to remain below Q1’s record level. The Zacks Consensus bottom up earnings estimates aggregate to $250.9 billion in Q2, compared to $249.2 billion in 2012 Q2 and 2013 Q1’s record of $252.7 billion. The Finance sector will generate $49.8 billion or 18.7% of the S&P 500’s total Q2 earnings, while the Tech sector is expected to generate $43.5 billion or 16.7% of the index’s total earnings.

Finance is reclaiming its dominant earnings position in the index which was taken over by the Tech sector following the 2008 crash. Tech remained the biggest earnings producer for the S&P 500 from 2008 through 2012, but the leadership role moves back to Finance this year. Finance is on track to produce $198 billion in 2013 (19.2% of the total), up from $173.7 billion in 2012 (17.9% of the total), while Tech is expected to produce $186.1 billion this year (18% of the total), up from $181.9 billion in 2012 (18.8% of the total).

Trends in Estimate Revisions

The revisions trend that appeared to be moving in a positive direction a few weeks back has lost ground lately, though revisions activity is typically closed to its lowest point ahead of the reporting cycle, as is the case at present. We should see a material pick up in revisions activity, as analysts adjust their estimates for the following quarters after earnings releases. The ‘Revisions Ratio’, the key metric plotted below, is basically the ratio of total number of upward revisions over the preceding four weeks to the total number of revisions (positive and negative) over that same period.

We have two charts each for 2013 and 2014. The bar charts show the current state of the ‘revisions ratio’ (as of 7/7/13), while the line charts plot the ratio’s trajectory over the preceding 24 months. As you can see below, the revisions ratio for 2013 dropped to 42% from the prior week’s 47% level, while the same for 2014 dropped to 44% from 49% the week before. Both ratios are now moderately in negative territory.  

 

 
 

 

The ratio doesn’t tell you the ‘magnitude’ of the revisions, only the direction. The ‘50%’ level (the dark line) is the dividing line between positive and negative trends, with readings above 50% implying more positive than negative revisions. That said our analysis shows that readings between 45% and 55% don’t offer material insights into the magnitude of revisions. It is only readings above 55% and below 45% that offer bullish and bearish signals about the magnitude of earnings revisions.

As you can see in the 2013 chart above, the revisions trend for the index as a whole has moved into bearish territory, with only 6 of the 16 sectors at or above the 50% level this week, down from 7 sectors last week (Tech went below the 50% level). On the bearish side, 9 of the 16 sectors remain below the 45% level, with revisions activity in Basic Materials and Consumer Staples continuing to the down side.   

Finance’s revisions ratio currently (as of 7/5) stands at 56% for 2013 (down from 66% the week before) and 56% for 2014 (down from 70%), signaling material loss of momentum though the trend still remains positive. This week’s earnings reports will give us a clear signal about the direction of estimate revisions for the coming quarters. J. P. Morgan and Wells Fargo generally made favorable comments about the outlook for net-interest margins, though they did caution towards potentially tougher times in the mortgage banking business in an elevated interest rate environment.

Earnings will be the focus all week, though we have the June Retail Sales, Industrial Production, CPI, and Housing Starts data on the docket as well. The Fed will likely steal the limelight later in the week, with Bernanke’s testimony to the House on Wednesday and the Senate on Thursday.

Monday-7/15

  • We will get the June Retail Sales data in the morning, with expectations of +0.9% ‘headline’ increase after the +0.6% increase the month before. We will also get the July Empire State regional manufacturing survey.
  • Citigroup (C) is the only major report in the morning.


Tuesday -7/16

  • We will get June CPI and Industrial Production and the July homebuilder index. Inflation is expected to be up +0.4% on the ‘headline’ and +0.2% on the ‘core’, while Industrial Production is expected to be up +0.1% in June after the flat reading in May.
  • Coke (KO), Johnson & Johnson (JNJ), and Goldman Sachs (GS) are the key reports before the open, while Yahoo (YHOO) and CSX Corp (CSX) will report after the close.  
  • Zacks ESP or Earnings Surprise Prediction, our proprietary leading indicator of earnings surprises, is showing CSX Corp coming out with an earnings beat.  
  • For a full report on Zacks ESP, click here.

Wednesday-7/17

  • Bernanke will likely dominate the headlines with his House testimony, though we have a ton of earnings reports and the June Housing Starts numbers coming out.
  • Bank of America (BAC), Piper Jaffray (PJC), and PNC Financial (PNC) are the key reports in the morning, while Intel (INTC), IBM (IBM), and eBay (EBAY) will report after the close.  
  • Zacks ESP is showing Bank of America and Intel coming out with positive earnings surprises.

Thursday -7/18

  • In addition to weekly Jobless Claims, we will get the July Philly Fed survey in the morning. We will also have another day of Bernanke testimony, this time in the Senate.
  • A very busy day on the earnings front, with Verizon (VZ), Morgan Stanley (MS), Sherwin Williams (SHW), and Union Pacific (UNP) reporting in the morning, while Google (GOOG) and Microsoft (MSFT) report after the close.

Friday-7/19

  • Not much on the economic calendar, but plenty of earnings reports. We will have General Electric (GE), Schlumberger (SLB), Kansas City Southern (KSU), Honeywell (HON), Baker Hughes, and State Street (STT) as the key reports today, all in the morning.

Here is a list of the 178 companies reporting this week, including 76 S&P 500 members.

Company Ticker Current Qtr Year-Ago Qtr Last EPS Surprise % Report Day Time
BROWN & BROWN BRO 0.35 0.29 5.13 Monday AMC
CINTAS CORP CTAS 0.7 0.6 -3.23 Monday AMC
CITIGROUP INC C 1.18 0.95 9.32 Monday BTO
HUNT (JB) TRANS JBHT 0.74 0.67 -4.69 Monday N/A
JOES JEANS INC JOEZ 0.03 0.02 50 Monday AMC
STANLEY FURN CO STLY -0.12 -0.1 -18.18 Monday AMC
COCA COLA CO KO 0.63 0.61 2.22 Tuesday BTO
COMERICA INC CMA 0.69 0.76 4.48 Tuesday BTO
CSX CORP CSX 0.47 0.49 12.5 Tuesday AMC
DEL FRISCOS RST DFRG 0.19 0.2 5 Tuesday BTO
GOLDMAN SACHS GS 2.81 1.78 11.43 Tuesday BTO
INTERACTIVE BRK IBKR 0.22 0.17 -12.5 Tuesday AMC AMC $61.77
JOHNSON & JOHNS JNJ 1.4 1.3 2.13 Tuesday BTO BTO $6.58
MARTEN TRANS MRTN 0.25 0.23 18.52 Tuesday AMC BTO $53.45
MERCANTILE BANK MBWM 0.35 0.36 51.52 Tuesday BTO AMC $34.33
MILLER ENERGY MILL -0.15 -0.2 -257.14 Tuesday AMC BTO $45.99
MOSAIC CO/THE MOS 1.15 1.27 5.62 Tuesday BTO AMC $92.83
PACKAGING CORP PKG 0.63 0.49 10.71 Tuesday AMC AMC $20.41
PINNACLE FIN PT PNFP 0.39 0.23 18.18 Tuesday AMC AMC $18.74
RENASANT CORP RNST 0.32 0.25 3.45 Tuesday AMC BTO $15.10
RESOURCES CNCTN RECN 0.15 0.21 0 Tuesday AMC AMC $8.14
SCHWAB(CHAS) SCHW 0.19 0.2 -6.25 Tuesday BTO AMC $5.23
UTD RENTALS INC URI 1.02 0.66 11.54 Tuesday AMC BTO $31.30
WESTAMER BANCP WABC 0.64 0.75 -1.54 Tuesday N/A BTO $27.74
WINTRUST FINL WTFC 0.61 0.52 10.17 Tuesday AMC AMC $26.49
YAHOO! INC YHOO 0.26 0.27 36 Tuesday AMC BTO $67.18
ABBOTT LABS ABT 0.44 1.23 0 Wednesday BTO AMC $21.83
ALBEMARLE CORP ALB 0.99 1.24 -7 Wednesday AMC AMC $6.26
AMER EXPRESS CO AXP 1.21 1.15 3.6 Wednesday AMC $49.85
ASML HOLDING NV ASML 0.61 1.13 -7.55 Wednesday BTO BTO $20.01
ASTORIA FINL CP AF 0.12 0.13 7.69 Wednesday AMC BTO $18.49
BANK OF AMER CP BAC 0.25 0.19 -13.04 Wednesday BTO AMC $31.06
BANK OF NY MELL BK 0.58 0.57 9.62 Wednesday BTO AMC $58.52
BOSTON PRIV FIN BPFH 0.19 0.14 -23.53 Wednesday AMC AMC $7.50
CATHAY GENL BCP CATY 0.35 0.33 -6.25 Wednesday AMC AMC $7.31
COHEN&STRS INC CNS 0.44 0.36 7.32 Wednesday AMC AMC $9.44
CORE LABS NV CLB 1.31 1.14 6.09 Wednesday AMC AMC $3.80
COVANTA HOLDING CVA 0.04 0.15 -61.54 Wednesday AMC AMC $8.02
CROWN HLDGS INC CCK 0.93 0.84 4.17 Wednesday AMC AMC $4.89
CVB FINL CVBF 0.21 0.23 -4.55 Wednesday AMC AMC $14.15
EAST WEST BC EWBC 0.51 0.47 0 Wednesday AMC BTO $21.28
EBAY INC EBAY 0.54 0.52 3.7 Wednesday AMC AMC $21.57
EL PASO PIPELIN EPB 0.47 0.44 7.41 Wednesday AMC AMC $18.96
FIRST CASH FINL FCFS 0.57 0.56 0 Wednesday BTO BTO $36.77
FIRST REP BK SF FRC 0.63 0.6 0 Wednesday BTO BTO $83.56
GRAINGER W W GWW 2.96 2.63 7.69 Wednesday BTO AMC $0.96
GREENHILL & CO GHL 0.45 0.07 -34.78 Wednesday AMC AMC $3.15
HNI CORP HNI 0.25 0.17 250 Wednesday AMC AMC $13.86
IGATE CORP IGTE 0.29 0.16 23.68 Wednesday BTO AMC $10.72
INTEL CORP INTC 0.39 0.54 -4.76 Wednesday AMC AMC $30.15
INTL BUS MACH IBM 3.78 3.51 -1.96 Wednesday AMC AMC $36.48
KINDER MORG ENG KMP 0.62 0.37 0 Wednesday AMC BTO $25.32
KINDER MORGAN KMI 0.31 0.36 -12.5 Wednesday AMC AMC $6.47
KNOLL INC KNL 0.14 0.28 8.33 Wednesday BTO BTO $55.21
LASALLE HTL PRP LHO 0.72 0.72 8 Wednesday AMC AMC $34.15
M&T BANK CORP MTB 2.09 1.74 6.19 Wednesday BTO $11.28
MATTEL INC MAT 0.31 0.28 37.5 Wednesday BTO AMC $63.22
NOBLE CORP NE 0.58 0.59 3.51 Wednesday AMC BTO $13.73
NORTHERN TRUST NTRS 0.83 0.74 -1.39 Wednesday BTO AMC $9.82
NOVARTIS AG-ADR NVS 1.31 1.38 4 Wednesday BTO BTO $57.84
PACIFIC CONTL PCBK 0.21 0.17 35.71 Wednesday AMC AMC $3.46
PIPER JAFFRAY PJC 0.43 0.31 9.09 Wednesday BTO $37.98
PLATINUM UNDRWT PTP 1.1 1.24 70.99 Wednesday AMC AMC $16.29
PLEXUS CORP PLXS 0.58 0.66 1.96 Wednesday AMC AMC $24.23
PNC FINL SVC CP PNC 1.64 1.25 12.1 Wednesday BTO BTO $114.57
PREFERRED BANK PFBC 0.27 -0.43 36.36 Wednesday AMC BTO $19.96
RLI CORP RLI 1.18 1.17 -1.89 Wednesday AMC AMC $10.22
SANDISK CORP SNDK 0.88 0.15 12.86 Wednesday AMC BTO $21.99
SELECT COMFORT SCSS 0.23 0.3 -4.55 Wednesday AMC BTO $30.31
SLM CORP SLM 0.7 0.49 3.39 Wednesday AMC AMC $26.82
ST JUDE MEDICAL STJ 0.94 0.88 0 Wednesday BTO AMC $14.94
STEEL DYNAMICS STLD 0.13 0.2 5 Wednesday AMC AMC $14.12
TEXTRON INC TXT 0.38 0.58 -14.89 Wednesday BTO BTO $3.97
UMPQUA HLDGS CP UMPQ 0.22 0.21 -4.35 Wednesday AMC $43.78
UNIVL FST PRODS UFPI 0.72 0.67 2500 Wednesday AMC AMC $5.61
US BANCORP USB 0.76 0.71 0 Wednesday BTO AMC $26.94
VALMONT INDS VMI 2.89 2.24 15.6 Wednesday AMC BTO $39.47
WNS HLDGS-ADR WNS 0.23 0.19 15.38 Wednesday BTO AMC $25.41
XILINX INC XLNX 0.47 0.47 4.44 Wednesday AMC AMC $8.70
ZHONE TECH INC ZHNE 0.02 -0.07 N/A Wednesday AMC AMC $12.71
ACACIA RESEARCH ACTG 0.38 0.31 213.64 Thursday AMC AMC $5.32
ADV MICRO DEV AMD -0.12 0.06 23.53 Thursday AMC BTO $42.28
ALIGN TECH INC ALGN 0.28 0.34 13.04 Thursday AMC $2.02
AMER RIVER BSH AMRB 0.07 0.09 -12.5 Thursday AMC AMC $7.48
AMPHENOL CORP-A APH 0.94 0.86 1.16 Thursday BTO BTO $16.49
ASSOC BANC CORP ASBC 0.25 0.24 8 Thursday AMC AMC $5.57
ATHENAHEALTH IN ATHN 0.08 0.12 33.33 Thursday AMC AMC $2.69
AUTONATION INC AN 0.74 0.66 7.94 Thursday BTO $4.81
BADGER METER BMI 0.55 0.52 -58.33 Thursday AMC AMC $2.41
BAXTER INTL BAX 1.13 1.12 0.96 Thursday BTO AMC $19.09
BB&T CORP BBT 0.74 0.72 2.99 Thursday BTO BTO $9.51
BLACKROCK INC BLK 3.82 3.1 1.67 Thursday BTO $9.72
BLACKSTONE GRP BX 0.53 0.19 1.85 Thursday BTO AMC $12.44
CAPITAL ONE FIN COF 1.71 0.33 17.79 Thursday AMC BTO $33.19
CELANESE CP-A CE 1.16 1.47 44.3 Thursday AMC AMC $20.90
CHECK PT SOFTW CHKP 0.76 0.71 0 Thursday BTO AMC $15.52
CHEMED CORP CHE 1.16 1.18 9.92 Thursday AMC $11.95
CHIPOTLE MEXICN CMG 2.8 2.56 9.81 Thursday AMC AMC $5.12
CITY NATIONAL CYN 0.96 1.01 -2.17 Thursday AMC AMC $29.83
COBIZ FINL INC COBZ 0.14 0.14 7.69 Thursday N/A AMC $27.10
CYPRESS SEMICON CY 0 0.06 37.5 Thursday BTO AMC $59.16
CYS INVESTMENTS CYS 0.29 0.49 -45.16 Thursday BTO AMC $57.94
CYTEC INDS INC CYT 1.27 0.73 -12.79 Thursday AMC AMC $12.36
DANAHER CORP DHR 0.85 0.81 -1.32 Thursday BTO AMC $34.90
DOVER CORP DOV 1.3 1.15 1.85 Thursday BTO AMC $7.40
EASTGROUP PPTYS EGP 0.77 0.77 -1.3 Thursday AMC AMC $13.27
ELECTRN IMAGING EFII 0.18 0.23 56.25 Thursday AMC AMC $2.80
ERICSSON LM ADR ERIC 0.16 0.11 50 Thursday BTO AMC $16.48
FAIRCHILD SEMI FCS 0.08 0.14 -200 Thursday BTO BTO $23.74
FIFTH THIRD BK FITB 0.44 0.36 12.82 Thursday BTO $2.13
FORWARD AIR CRP FWRD 0.53 0.48 -7.69 Thursday AMC BTO $96.40
GATX CORP GMT 0.85 0.8 -11.76 Thursday BTO AMC $3.66
GENUINE PARTS GPC 1.21 1.08 -6.06 Thursday BTO $23.03
GLIMCHER REALTY GRT 0.17 0.14 14.29 Thursday AMC AMC $3.96
GOOGLE INC-CL A GOOG 9.01 8.82 13.25 Thursday AMC BTO $9.31
HOME BANCSHARES HOMB 0.31 0.28 1.64 Thursday BTO AMC $7.90
HOME LOAN SERVC HLSS 0.46 0.33 2.33 Thursday BTO AMC $16.82
HUB GROUP INC-A HUBG 0.49 0.46 0 Thursday AMC BTO $6.70
HUBBELL INC -B HUB.B 1.31 1.29 -0.9 Thursday BTO AMC $2.85
HUNTINGTON BANC HBAN 0.16 0.17 6.25 Thursday BTO AMC $10.09
ICU MEDICAL INC ICUI 0.65 0.63 28.89 Thursday AMC AMC $15.35
INTUITIVE SURG ISRG 4.12 3.75 14 Thursday AMC BTO $3.50
JOHNSON CONTROL JCI 0.75 0.64 0 Thursday BTO AMC $19.00
KEYCORP NEW KEY 0.2 0.23 5 Thursday BTO $27.05
MARRIOT VAC WW VAC 0.49 0.33 10.2 Thursday AMC AMC $24.59
MATTHEWS INTL-A MATW 0.72 0.6 -3.17 Thursday AMC AMC $36.50
MICROSOFT CORP MSFT 0.75 0.73 7.46 Thursday AMC AMC $6.13
MORGAN STANLEY MS 0.44 0.16 7.02 Thursday BTO BTO $6.99
MYERS INDS MYE 0.21 0.17 -11.11 Thursday BTO AMC $36.26
NETSCOUT SYSTMS NTCT 0.12 0.16 5.56 Thursday BTO BTO $24.30
NOKIA CP-ADR A NOK -0.03 -0.1 33.33 Thursday BTO AMC $25.47
NUCOR CORP NUE 0.3 0.44 4 Thursday BTO AMC $13.22
OCEANFIRST FINL OCFC 0.28 0.3 -10.34 Thursday AMC BTO $7.53
PEOPLES UTD FIN PBCT 0.19 0.19 0 Thursday AMC AMC $6.79
PHILIP MORRIS PM 1.41 1.36 -4.44 Thursday BTO AMC $43.49
POOL CORP POOL 1.42 1.34 16.67 Thursday BTO BTO $9.61
POPULAR INC BPOP 0.69 0.63 -10.94 Thursday BTO $2.10
PPG INDS INC PPG 2.34 2.36 1.28 Thursday BTO AMC $4.78
PREMIERE GLOBAL PGI 0.18 0.16 0 Thursday AMC BTO $39.37
PRIVATEBANCORP PVTB 0.33 0.19 25 Thursday BTO BTO $4.48
QUEST DIAGNOSTC DGX 1.09 1.17 -14.42 Thursday BTO AMC $20.29
SAFEWAY INC SWY 0.5 0.5 -2.78 Thursday BTO AMC $6.91
SANDY SPRING SASR 0.39 0.36 13.51 Thursday BTO AMC $7.07
SAP AG ADR SAP 0.91 0.77 41.51 Thursday BTO BTO $34.29
SHERWIN WILLIAM SHW 2.6 2.17 2.78 Thursday BTO BTO $33.41
SIMMONS FIRST A SFNC 0.4 0.38 -9.76 Thursday BTO $2.72
SKYWORKS SOLUTN SWKS 0.44 0.35 -2.56 Thursday AMC AMC $6.11
SNAP-ON INC SNA 1.43 1.3 4.48 Thursday BTO AMC $15.46
SONOCO PRODUCTS SON 0.58 0.58 -5.66 Thursday BTO BTO $35.06
STRYKER CORP SYK 1.03 0.98 1.98 Thursday AMC BTO $33.45
SUPERVALU INC SVU 0.02 0.19 -200 Thursday BTO AMC $34.88
TAIWAN SEMI-ADR TSM 0.27 0.27 13.04 Thursday BTO BTO $4.25
ULTRATECH STEP UTEK 0.04 0.41 -2.04 Thursday BTO AMC $22.06
UNION PAC CORP UNP 2.35 2.1 3.57 Thursday BTO BTO $11.47
UNITEDHEALTH GP UNH 1.26 1.27 0 Thursday BTO AMC $5.59
UTD FINL BCP UBNK 0.26 0.21 0 Thursday AMC BTO $32.35
VERIZON COMM VZ 0.73 0.64 3.03 Thursday BTO $7.90
WATSCO INC WSO 1.41 1.15 18.18 Thursday BTO $12.70
WESTERN ALLIANC WAL 0.27 0.16 14.29 Thursday AMC $30.16
AUTOLIV INC ALV 1.38 1.33 1.57 Friday BTO AMC $86.04
BAKER-HUGHES BHI 0.64 1 4.84 Friday BTO AMC $7.20
BANCO LATINOAME BLX 0.54 0.61 -21.82 Friday BTO AMC $13.81
FIRST HRZN NATL FHN 0.19 -0.5 0 Friday BTO BTO $36.22
FIRST NIAGARA FNFG 0.18 0.17 5.88 Friday BTO DMT $1.81
GENL ELECTRIC GE 0.35 0.38 11.43 Friday BTO AMC $91.20
HONEYWELL INTL HON 1.22 1.14 6.14 Friday BTO AMC $90.22
INGERSOLL RAND IR 1.07 1.15 2.44 Friday BTO BTO $5.50
INTERPUBLIC GRP IPG 0.22 0.22 -7.69 Friday BTO AMC $33.18
KANSAS CITY SOU KSU 0.95 0.85 2.3 Friday BTO AMC $25.27
LABORATORY CP LH 1.8 1.77 -1.69 Friday BTO BTO $14.95
MANPOWER INC WI MAN 0.89 0.76 40 Friday BTO BTO $40.60
METROCORP BANCS MCBI 0.15 0.16 14.29 Friday AMC AMC $43.01
MOSYS INC MOSY -0.11 -0.15 21.43 Friday BTO BTO $14.17
ROCKWELL COLLIN COL 1.15 1.14 0.86 Friday BTO AMC $7.21
SCHLUMBERGER LT SLB 1.11 1.05 2.02 Friday BTO BTO $18.51
STATE ST CORP STT 1.19 1.01 3.23 Friday BTO DMT $15.54
SUNTRUST BKS STI 0.67 0.5 3.28 Friday BTO AMC $4.29
V F CORP VFC 1.17 1.11 11.98 Friday N/A BTO $44.41

 
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