83% of the 453 $SPY co’s reporting 1Q20 had their 2Q20 EPS ests cut. The avg est change was -25.01%! Co’s w/ ests lowered are underperforming the index by -1,268 bps YTD. The 53 co’s w/ raised ests are outperforming by +1,166 bps. #Earnings matter!
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