How Are Earnings Shaping Up?

This from Tickersense this AM. http://tickersense.typepad.com/ticker_sense/2007/01/how_are_earning.html

How Are Earnings Shaping Up?

As of yesterday (1/22), 58 of the 500 S&P 500 companies had reported earnings since Alcoa (AA) kicked off the season two weeks ago. While we realize it's still a small sample (just over 10% of the total S&P 500), the initial results show that earnings "beats" are coming in at a slower pace than in previous quarters. So far this earnings season, 60% of S&P 500 companies have beaten estimates, making this the second lowest "beat" rate since the bull market began in October 2002. After the next two weeks, we'll be able to really see how things shape up, but as of now, analysts have been too optimistic.