Citi analysts Scott T Chronert and Louis L Odette examine the performance of small and midcap tech stocks at this point in the earnings reporting season in their “SMID Cap Rap” study of October 25, 2013.
Q3 shows a positive profile versus index
Approximately a quarter of the RUT techs and 37% of the RMC are through with reporting and tended to surprise positively at 65% and 71% respectively. The Citi analysts ascribe this outperformance to “a lowered Q3 earnings bar.” Going forward into the rest of the reporting season the surprise ratios are likely to decline, but the trend so far is strong.
SMID tech stocks' relative performance
However, after a solid...
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