Third quarter earnings from the S&P 500 (INDEXSP:.INX) have positively surprised thanks to financials and higher than expected margins.
Amanda Sneider and her team at Goldman Sachs feel third quarter EPS is on track to establish a new quarterly and trailing four-quarter high.
More sales misses than usual
Goldman Sachs analysts point out that despite more sales misses than usual, aggregate sales results are in line with expectations. The analysts believe the market has been less likely to reward sales and earnings beats in 2013 compared to 2011 and 2012. Between 2011 and 2012, 62% of stocks that beat earnings estimates and 63% of stocks that beat sales estimates outperformed the market on the next trading day....
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