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Portfolio Update

Earnings Season in Full Swing

By Elliott H. Gue, on Aug. 1, 2014

Roughly half the S&P 500 has reported second-quarter earnings, with 78 percent delivering better-than-expected earnings and two-thirds beating on the top line.

By comparison, 54 percent of the S&P 500 beat sales estimates and 74 percent exceeded earnings forecasts in the first quarter. 

Broadly speaking, strong corporate earnings reflect improving economic growth in the US and Europe, coupled with a rebound from weather-related disruptions to US economic activity in the first quarter.

Although the next few months could bring a 5 percent to 10 percent correction, US equities should perform well through year-end; investors should buy the dips, especially in cyclical groups such as energy and industrials.

Here’s an update on five Portfolio holdings that reported results in recent weeks.

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