The market remains sensitive to weak forward outlooks and continues to punish those stocks that miss on revenues and beat on earnings. Today, ESRX, Z, and BSFT bore the brunt of that attitude, down -14%, -21%, and -11% respectively after-hours.

But not all is morose. EOG and CVI delivered great earnings reports and raised their forward outlooks, and the market responded positively, though not in as dramatic a fashion as the disappointers.

Last week went very much as expected with the S&P 500 inching along again: It was slightly down Monday and Tuesday and then slightly up each of the last three days to end the week up +1.00%.

Big Earnings Week Starts Off Slowly

by David Brown, Chief Market Strategist, Sabrient Systems