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Earnings Preview

The picture emerging from the 2014 Q4 earnings season at this stage is one of weakness, with earnings and revenue growth rates tracking below levels that we have been seeing in other recent periods. Weak results from the Finance sector has been a big drag on the aggregate picture at this stage and the growth rates improve once Finance is excluded from the aggregate numbers. But aside from high proportion of companies beating EPS estimates, the results thus far don’t compare favorably to the recent past, whether looked at with or without the Finance sector.

The reporting cycle really accelerates this week, with almost 500 companies coming out with Q4 results, including 136 S&P 500 members. This week’s line-up packs plenty of leaders from all the key sectors, ranging from Google (GOOGL - Analyst Report) and Facebook (FB - Analyst Report) to Caterpillar (CAT - Analyst Report) , DuPont (DD - Analyst Report) and much more in between. As such, it may not be unfair to characterize this week as a make or break week for the Q4 earnings season. This week will either fully confirm the weak start we have had thus far or turn it around in the opposite direction. But the trends established this week will carry through the rest of this reporting cycle with only minor changes.

The Q4 Scorecard (as of 1/23/2015)

We have seen Q4 results from 91 S&P 500 members that combined account for 25.5% of the index’s total market capitalization. Total earnings for these companies are up +3.2% from the same period last year, with 73.6% beating EPS estimates. Total revenues are up +2.1% from the same period last year and 50.5% of them are coming ahead with top-line estimates.

The table below shows the current scorecard for the S&P 500 index

This is a weaker performance than we have seen from the same group of companies in other recent quarters. The charts below compare the Q4 growth rates and beat ratios for these 91 companies with what we had seen from the same group of companies in other recent quarters. As you can see, the earnings and revenue growth rates are weaker than what we have been seeing in other recent quarters. With respect to positive surprises, they are more numerous for earnings and less so for revenues.

The charts below compare the results thus far with what we have seen from the same group of companies in 2014 Q3 and the average for the preceding four quarters.

Finance has the most weightage in the results thus far, with Q4 reports from 52.1% of the sector’s total market capitalization already out. Total earnings for these Finance sector companies are down -6.1% on -2.0% lower revenues, with 69.0% beating EPS estimates and 55.2% coming ahead of top-line expectations. This is the weakest performance that we have seen from these Finance sector companies in other recent quarters, thanks to tough comparisons at Citigroup (C - Analyst Report) and J.P. Morgan (JPM - Analyst Report) . Had it not been for Citigroup and J.P. Morgan, the Finance sector earnings would be up +3.7% from the same period last year.

The charts below compare the Finance sector results thus far with what we had seen from this same group of companies in other recent quarters. As you can see, more companies have beat EPS estimates compared to Q3 or the average of the last four quarters, but the growth rates are clearly on the low side.

Keeping the Finance sector out of the results thus far, total earnings for the rest of the S&P 500 companies are up +9.8% on +3.8% higher revenues. This improved growth picture notwithstanding, it is still weaker relative to what we had seen from this same group of ex-Finance companies in other recent quarters.

The charts below present the aggregate data thus far on an ex-Finance basis

Finance results are not doubt weak, but the Technology sector isn’t doing much better either. With results from almost one quarter of the sector’s total market cap already, total Tech sector earnings are up +2% on -2.5% lower revenues, with 80% beating EPS estimates and only 40% coming ahead of top-line estimates.

As you can see in the comparison charts below, this is weaker than what we have been seeing from these companies in other recent quarters.

Most of the sector results thus far have been the legacy old line Tech players like IBM (IBM - Analyst Report) , Intel (INTC - Analyst Report) , Oracle (ORCL - Analyst Report) and others. This week brings in the ‘growthier’ and more glamourous of the sector players like Facebook, Google and Apple. While the growth picture isn’t expected to materially change, but we will know for sure only at the end of this week.

The Composite Q4 Picture

Combining the actual results for the 91 S&P 500 companies that have reported with the 409 still-to-come reports, total Q4 earnings are expected to be up +1.9% on -0.6% lower revenues.

Four sectors – Transportation, Medical, Utilities and Business Services –are expected to have double-digit earnings growth in Q4, while five sectors are expected to have lower total earnings this quarter relative to the year-earlier period. The Energy sector has the weakest growth profile for understandable reasons, with total earnings for the sector expected to be down -24.6% on -16.0% lower revenues.

The table below presents the summary picture for Q4 contrasted with what companies actually reported in the Q3 earnings season.

Falling Estimates

Estimates for the current period (2015 Q1) have started coming down at an accelerated pace, with total earnings for the quarter now expected to be up +1.9%, down from the +4% growth rate expected in mid-December and +10.8% in early October. As was the case in Q4, Energy is the biggest driver of this negative revisions trend.

While total Q1 earnings for the Energy sector were expected to be down (only) -35.6% in mid-December, they are now expected to be -56.6% year over year. Given the persistently weak oil prices, there is likely more room for downward adjustments to these estimates. Estimates for Q4 went through an even sharper negative revision process, though almost half of the drop in estimates was due to developments in the Energy sector.

The chart below plots the evolution of current and following quarter estimates over the last 3-plus months. As you can see, the first half 2015 growth rate has effectively fallen victim to developments in the oil patch.

The Q4 Energy sector results that we have seen thus far are fairly strong, with total earnings for the 14.8% of the sector’s market capitalization that have reported results are up +24.2% on +9.3% higher revenues. But this growth picture will look very different once Chevron (CVX - Analyst Report) and ConocoPhillips (COP - Analyst Report) report results this week (Exxon reports the following week).

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Note: For a complete analysis of 2014 Q4 estimates, please check out weekly Earnings Trends report.

Here is a list of the 494 companies reporting this week, including 136 S&P 500 members.
 

Company Ticker Current Qtr Year-Ago Qtr Last EPS Surprise % Report Day Time
TEXAS INSTRS TXN 0.69 0.49 7.04 Monday AMC
D R HORTON INC DHI 0.35 0.36 -8.16 Monday BTO
GRAINGER W W GWW 2.83 2.59 0.61 Monday BTO
NORFOLK SOUTHRN NSC 1.64 1.64 -2.19 Monday BTO
SEAGATE TECH STX 1.36 1.32 7.2 Monday BTO
MICROSOFT CORP MSFT 0.7 0.78 10.2 Monday AMC
ZIONS BANCORP ZION 0.43 0.42 -15.56 Monday AMC
ROPER INDS INC ROP 1.79 1.65 1.31 Monday BTO
PLUM CREEK TMBR PCL 0.34 0.31 6.67 Monday AMC
J&J SNACK FOODS JJSF 0.69 0.66 1.71 Monday AMC
MICROSTRATEGY MSTR 1.44 1.43 -600 Monday AMC
SANMINA CORP SANM 0.54 0.36 18.75 Monday AMC
BERKSHIRE HILLS BHLB 0.47 0.4 4.55 Monday AMC
EQUITY LIFESTYL ELS 0.66 0.62 4.55 Monday AMC
RAMBUS INC RMBS 0.06 0.12 120 Monday AMC
SILICON MOTION SIMO 0.32 0.16 7.69 Monday AMC
GRACO INC GGG 0.85 0.71 4.3 Monday AMC
ASHLAND INC ASH 1.43 1.42 4.41 Monday AMC
PACKAGING CORP PKG 1.16 1.04 0 Monday AMC
OSI SYSTEMS INC OSIS 0.93 0.78 0 Monday BTO
SUN BANCORP/NJ SNBC -0.03 -0.5 -150 Monday BTO
OPUS BANK OPB 0.34 0.25 -29.41 Monday BTO
PROVIDENT FINL PROV 0.23 0.16 8.7 Monday BTO
BANK OF MARIN BMRC 0.85 0.79 4.71 Monday BTO
YADKIN FINL CP YDKN 0.36 0.3 311.76 Monday BTO
CITIZENS FIN GP CFG 0.35 999 N/A Monday BTO
BROOKFLD CDA OP BOXC 0.33 0.37 -2.7 Monday AMC
PERICOM SEMICON PSEM 0.12 0.06 40 Monday AMC
STONEGATE BANK SGBK 0.38 0.31 -2.86 Monday AMC
HOMESTREET INC HMST 0.28 0.12 13.79 Monday AMC
PLANTRONICS INC PLT 0.67 0.67 3.13 Monday AMC
RLI CORP RLI 0.6 0.72 13.33 Monday AMC
WILSHIRE BCP WIBC 0.21 0.15 -5 Monday AMC
BBCN BANCORP BBCN 0.28 0.25 -6.9 Monday AMC
BANK OF HAWAII BOH 0.93 0.88 2.15 Monday AMC
HEARTLAND FINCL HTLF 0.57 0.42 6.78 Monday AMC
CRANE CO CR 1.13 1.04 -4.27 Monday AMC
BROWN & BROWN BRO 0.13 0.32 0 Monday AMC
AFFIL MANAGERS AMG 3.5 3.66 1.85 Tuesday BTO
ELECTR ARTS INC EA 0.82 1.18 44.19 Tuesday AMC
AMGEN INC AMGN 2.05 1.81 11.65 Tuesday AMC
APPLE INC AAPL 2.58 2.07 9.23 Tuesday AMC
CORNING INC GLW 0.38 0.29 5.26 Tuesday BTO
DOVER CORP DOV 0.95 1.28 3.05 Tuesday BTO
PFIZER INC PFE 0.53 0.56 1.79 Tuesday BTO
BRISTOL-MYERS BMY 0.4 0.51 9.76 Tuesday BTO
3M CO MMM 1.8 1.62 1.02 Tuesday BTO
NEXTERA ENERGY NEE 1.04 0.95 0.65 Tuesday BTO
WATERS CORP WAT 1.89 1.7 7.81 Tuesday BTO
DANAHER CORP DHR 1.04 0.96 0 Tuesday BTO
LOCKHEED MARTIN LMT 2.81 2.61 1.47 Tuesday BTO
FREEPT MC COP-B FCX 0.37 0.84 3.23 Tuesday BTO
ILL TOOL WORKS ITW 1.13 0.92 4.07 Tuesday BTO
PROLOGIS INC PLD 0.47 0.43 4.35 Tuesday BTO
COACH INC COH 0.66 1.06 17.78 Tuesday BTO
JUNIPER NETWRKS JNPR 0.2 0.33 -15.38 Tuesday AMC
WESTERN DIGITAL WDC 2.1 2.19 2.94 Tuesday AMC
YAHOO! INC YHOO 0.19 0.39 105 Tuesday AMC
ACE LIMITED ACE 2.27 2.39 10.46 Tuesday AMC
AT&T INC T 0.55 0.53 -1.56 Tuesday AMC
BOSTON PPTYS BXP 1.26 1.29 6.57 Tuesday AMC
NUCOR CORP NUE 0.55 0.49 1.33 Tuesday BTO
PARKER HANNIFIN PH 1.55 1.24 13.86 Tuesday BTO
DU PONT (EI) DE DD 0.71 0.59 1.89 Tuesday BTO
UTD TECHS CORP UTX 1.61 1.67 0.55 Tuesday BTO
CATERPILLAR INC CAT 1.55 1.54 29.32 Tuesday BTO
PROCTER & GAMBL PG 1.14 1.21 -0.93 Tuesday BTO
STRYKER CORP SYK 1.45 1.23 0.88 Tuesday AMC
TOTAL SYS SVC TSS 0.5 0.44 10.2 Tuesday AMC
NEXTERA ENERGY NEP 0.18 999 21.43 Tuesday BTO
AMER AIRLINES AAL 1.51 1.51 1.84 Tuesday BTO
ETHAN ALLEN INT ETH 0.45 0.41 25.71 Tuesday AMC
ABIOMED INC ABMD 0.03 0.11 350 Tuesday BTO
CIT GROUP CIT 0.93 0.65 1.14 Tuesday BTO
UNITED FIN BCP UBNK 0.17 0.13 -9.09 Tuesday AMC
BRIDGE CAP HLDG BBNK 0.31 0.33 20.69 Tuesday AMC
SEACOAST BKNG A SBCF 0.12 0.03 30 Tuesday AMC
DIME COMM BNCSH DCOM 0.28 0.29 22.22 Tuesday AMC
MERCURY SYSTEMS MRCY 0.04 -0.03 450 Tuesday AMC
WESBANCO INC WSBC 0.6 0.52 3.33 Tuesday AMC
FIRST MERCHANTS FRME 0.41 0.34 4.65 Tuesday
AVX CORP AVX 0.21 0.19 28.57 Tuesday BTO
INTL SPEEDWAY ISCA 0.58 0.55 100 Tuesday BTO
INTEGR SILI SOL ISSI 0.15 0.13 -33.33 Tuesday BTO
NAVIOS MARITIME NAP 0.11 999 N/A Tuesday BTO
TRANSDIGM GROUP TDG 1.84 1.61 N/A Tuesday BTO
AUDIOCODES LTD AUDC 0.03 0.03 0 Tuesday BTO
II-VI INCORP IIVI 0.16 0.13 17.65 Tuesday BTO
PEOPL BNCP-OHIO PEBO 0.42 0.47 -13.16 Tuesday BTO
S&T BANCORP INC STBA 0.49 0.4 4.26 Tuesday BTO
SMITH (AO) CORP AOS 0.61 0.52 3.51 Tuesday BTO
G&K SVCS A GK 0.83 0.75 10.96 Tuesday BTO
MONRO MUFFLER MNRO 0.49 0.47 -1.96 Tuesday BTO
SOUTH STATE CP SSB 1.03 0.8 2.04 Tuesday BTO
OSHKOSH CORP OSK 0.33 0.63 15.66 Tuesday BTO
FIRSTMERIT CORP FMER 0.36 0.36 0 Tuesday BTO
POLARIS INDUS PII 1.94 1.56 1.98 Tuesday BTO
SYNOVUS FINL CP SNV 0.35 0.35 0 Tuesday BTO
APPLD MICRO CIR AMCC -0.15 -0.06 -20 Tuesday AMC
DATAWATCH CORP DWCH -0.41 -0.55 N/A Tuesday AMC
OPEN TEXT CORP OTEX 0.99 0.75 10.47 Tuesday AMC
UTD COMM FIN CP UCFC 0.08 0.04 N/A Tuesday AMC
WASH TR BANCORP WASH 0.63 0.58 5.08 Tuesday AMC
CALAMOS ASSET-A CLMS 0.14 0.25 130 Tuesday AMC
ZHONE TECH INC ZHNE -0.03 0.04 -166.67 Tuesday AMC
CHEMICAL FINL CHFC 0.46 0.48 20.45 Tuesday AMC
STERLING BANCP STL 0.23 0.13 0 Tuesday AMC
CYTEC INDS INC CYT 0.61 0.57 1.37 Tuesday AMC
AMDOCS LTD DOX 0.75 0.69 -1.35 Tuesday AMC
EZCORP INC CL A EZPW 0.37 0.49 0 Tuesday AMC
UMB FINL CORP UMBF 0.76 0.77 2.63 Tuesday AMC
FIRST INTST MT FIBK 0.49 0.47 6.52 Tuesday AMC
FREESCALE SEMI FSL 0.28 0.14 15.38 Tuesday AMC
TRUSTMARK CP TRMK 0.44 0.42 16.28 Tuesday AMC
POLYONE CORP POL 0.34 0.26 4.26 Tuesday AMC
UTD STATES STL X 0.88 0.27 83.05 Tuesday AMC
ILLUMINA INC ILMN 0.78 0.45 37.5 Tuesday AMC
CONMED CORP CNMD N/A 0.53 N/A Tuesday AMC
NORTHRIM BCP NRIM 0.57 0.4 10.42 Tuesday
MIDSOUTH BANCRP MSL 0.38 0.29 -5.26 Tuesday
FIRST BUSEY-A BUSE 0.1 0.07 0 Tuesday
NOVARTIS AG-ADR NVS 1.13 1.2 -0.78 Tuesday BTO
ERICSSON LM ADR ERIC 0.25 0.38 -11.76 Tuesday BTO
LEXMARK INTL LXK 1.16 1.18 12.9 Tuesday BTO
FIRST CASH FINL FCFS 0.98 0.8 -1.45 Tuesday BTO
PEABODY ENERGY BTU -0.36 0 10.61 Tuesday BTO
FLOTEK INDU INC FTK 0.29 0.2 4 Tuesday AMC
ACCURAY INC ARAY -0.09 -0.07 -115.38 Tuesday AMC
LEGACY TX FINL LTXB 0.28 0.21 -3.7 Tuesday AMC
VMWARE INC-A VMW 0.8 0.83 12.96 Tuesday AMC
CDN NATL RY CO CNI 0.84 0.68 -2.11 Tuesday AMC
AK STEEL HLDG AKS 0.06 0.09 33.33 Tuesday BTO
SIEMENS AG-ADR SIEGY 1.97 2.18 -18.56 Tuesday
KONINKLIJKE PHL PHG N/A 0.65 N/A Tuesday
BIOGEN IDEC INC BIIB 3.74 2.33 17.7 Wednesday BTO
TEXTRON INC TXT 0.74 0.6 13.21 Wednesday BTO
AMERISOURCEBRGN ABC 0.96 0.8 4.76 Wednesday BTO
BOEING CO BA 2.08 1.88 9.18 Wednesday BTO
ANTHEM INC ANTM 1.72 0.87 3.51 Wednesday BTO
LAM RESEARCH LRCX 1.12 1.1 3.23 Wednesday AMC
HUDSON CITY BCP HCBK 0.05 0.09 16.67 Wednesday BTO
ADT CORP ADT 0.49 0.43 12.24 Wednesday BTO
MCCORMICK & CO MKC 1.14 1.2 17.28 Wednesday BTO
EMC CORP -MASS EMC 0.59 0.52 -2.7 Wednesday BTO
MEADWESTVACO CP MWV 0.44 0.29 18.87 Wednesday BTO
TE CONNECT-LTD TEL 0.9 0.82 2 Wednesday BTO
AMER ELEC PWR AEP 0.5 0.6 -1.94 Wednesday BTO
GENL DYNAMICS GD 2.1 1.76 7.33 Wednesday BTO
INTL PAPER IP 0.62 0.83 7.95 Wednesday BTO
T ROWE PRICE TROW 1.13 1.06 -2.61 Wednesday BTO
PROGRESSIVE COR PGR 0.43 0.42 6.98 Wednesday BTO
ST JUDE MEDICAL STJ 1.03 0.99 1.04 Wednesday BTO
QUALCOMM INC QCOM 1.12 1.13 -5 Wednesday AMC
AMERIPRISE FINL AMP 2.21 1.87 14.87 Wednesday AMC
CITRIX SYS INC CTXS 0.8 0.87 11.76 Wednesday AMC
MURPHY OIL MUR 0.28 0.67 13.86 Wednesday AMC
GENL GRWTH PPTY GGP 0.38 0.36 3.13 Wednesday AMC
AVALONBAY CMMTY AVB 1.77 1.62 6.47 Wednesday AMC
FACEBOOK INC-A FB 0.33 0.2 0 Wednesday AMC
JACOBS ENGIN GR JEC 0.78 0.71 3.53 Wednesday AMC
TRACTOR SUPPLY TSCO 0.76 0.68 7.84 Wednesday AMC
AMETEK INC AME 0.62 0.55 1.64 Wednesday BTO
HESS CORP HES 0.32 0.96 15.89 Wednesday BTO
ROCKWELL AUTOMT ROK 1.49 1.47 2.2 Wednesday BTO
PRAXAIR INC PX 1.57 1.55 -0.61 Wednesday BTO
VARIAN MEDICAL VAR 0.87 0.91 -8.26 Wednesday AMC
VERTEX PHARM VRTX -0.61 -0.66 0 Wednesday AMC
MARKETAXESS HLD MKTX 0.52 0.41 -4.17 Wednesday BTO
CUSTOMERS BANCP CUBI 0.45 0.33 2.44 Wednesday BTO
KULICKE & SOFFA KLIC 0 -0.02 -9.52 Wednesday BTO
STMICROELECTRON STM 0.05 -0.01 160 Wednesday BTO
BOOZ ALLEN HMLT BAH 0.34 0.33 22.22 Wednesday BTO
ALLEGIANT TRAVL ALGT 1.41 0.94 -9.09 Wednesday AMC
MELLANOX TECH MLNX 0.19 -0.05 2300 Wednesday AMC
HOLOGIC INC HOLX 0.36 0.34 16.22 Wednesday AMC
UTD MICROELECTR UMC 0.03 0.01 -20 Wednesday BTO
NATUS MEDICAL BABY 0.38 0.37 6.45 Wednesday BTO
HUTCHINSON TECH HTCH -0.13 -0.37 6.25 Wednesday BTO
RADWARE LTD RDWR 0.23 0.18 25 Wednesday BTO
BRINKER INTL EAT 0.68 0.59 0 Wednesday BTO
KNIGHT TRANSN KNX 0.33 0.25 14.81 Wednesday BTO
BROOKLINE BC BRKL 0.15 0.12 21.43 Wednesday AMC
ELECTRO SCI IND ESIO -0.25 -0.14 24 Wednesday AMC
SHORETEL INC SHOR -0.04 0.01 233.33 Wednesday AMC
CIRRUS LOGIC CRUS 0.61 0.79 29.79 Wednesday AMC
FORTINET INC FTNT 0.08 0.07 -40 Wednesday AMC
CELADON GROUP CGI 0.3 0.22 0 Wednesday AMC
CARDIOVASCLR SY CSII -0.34 -0.32 21.21 Wednesday AMC
SWIFT TRANSPORT SWFT 0.48 0.36 11.43 Wednesday AMC
SHARPS COMPLIAN SMED 0.03 0.02 -100 Wednesday BTO
UNITIL CORP UTL 0.68 0.75 37.5 Wednesday BTO
MEREDITH CORP MDP 0.98 0.67 3.17 Wednesday BTO
MARINE PRODUCTS MPX 0.06 0.06 -37.5 Wednesday BTO
PLUG POWER INC PLUG -0.04 -0.08 -33.33 Wednesday BTO
ROLLINS INC ROL 0.2 0.19 0 Wednesday BTO
RAYONIER ADV MT RYAM 0.6 999 -8.62 Wednesday BTO
ALLIANCE HLDGS AHGP 1.16 0.98 6.48 Wednesday BTO
GREAT WSTRN BCP GWB 0.46 999 8.51 Wednesday BTO
MERITOR INC MTOR 0.3 0.12 118.75 Wednesday BTO
POTLATCH CORP PCH 0.4 0.34 -5.81 Wednesday BTO
SEI INVESTMENTS SEIC 0.48 0.37 6.52 Wednesday BTO
ARCTIC CAT INC ACAT 0.47 0.89 20 Wednesday BTO
ALLIANCE RES ARLP 1.18 0.93 6.6 Wednesday BTO
FIRST COMW FINL FCF 0.15 0.13 -7.14 Wednesday BTO
MDC HLDGS MDC 0.46 0.62 -24 Wednesday BTO
BOK FINL CORP BOKF 1.07 1.06 -2.68 Wednesday BTO
GENTEX CORP GNTX 0.26 0.24 2.08 Wednesday BTO
ENERGIZER HLDGS ENR 2.16 2.1 16.88 Wednesday BTO
NEW YORK CMNTY NYCB 0.27 0.27 11.54 Wednesday BTO
CGI GRP INC -A GIB 0.66 0.58 -2.99 Wednesday BTO
CULLEN FROST BK CFR 1.11 0.99 8.18 Wednesday BTO
SILICONWARE-ADR SPIL N/A 0.12 N/A Wednesday BTO
ASPEN TECH INC AZPN 0.27 0.25 18.52 Wednesday AMC
EXTREME NETWRKS EXTR -0.01 0.11 -20 Wednesday AMC
NOVAGOLD RSRCS NG -0.04 -0.06 -33.33 Wednesday AMC
PTC INC PTC 0.41 0.42 7.14 Wednesday AMC
SILICON GRAPHIC SGI -0.2 -0.3 -8.7 Wednesday AMC
C1 FINANCIAL BNK 0.2 999 5.88 Wednesday AMC
CNOVA NV CNV 0.05 999 N/A Wednesday AMC
FOX CHASE BANCP FXCB 0.21 0.13 -20 Wednesday AMC
GREENHILL & CO GHL 0.57 0.53 6.45 Wednesday AMC
INTERSIL CORP ISIL 0.12 0.16 -11.76 Wednesday AMC
LG DISPLAY-ADR LPL 0.65 0.09 6.82 Wednesday AMC
QORVO INC QRVO 1.06 999 N/A Wednesday AMC
CAPSTEAD MTG CMO 0.33 0.35 -11.76 Wednesday AMC
CIMPRESS NV CMPR 1.47 1.25 66.67 Wednesday AMC
FLEXTRONIC INTL FLEX 0.24 0.24 4.35 Wednesday AMC
TRISTATE CP HLD TSC 0.18 0.17 17.65 Wednesday AMC
MKS INSTRUMENTS MKSI 0.47 0.42 16.22 Wednesday AMC
UNION BANKSHARS UBSH 0.42 0.35 -18.6 Wednesday AMC
CAVIUM INC CAVM 0.23 0.14 -4.55 Wednesday AMC
ALLIANT TECHSYS ATK 2.89 2.87 2.04 Wednesday AMC
CAMDEN PPTY TR CPT 0.99 1.08 0 Wednesday AMC
SERVICENOW INC NOW -0.27 -0.14 -15.79 Wednesday AMC
UMPQUA HLDGS CP UMPQ 0.3 0.25 3.45 Wednesday AMC
INTL GAME TECH IGT 0.25 0.25 23.33 Wednesday AMC
ASTORIA FINL CP AF 0.16 0.18 6.25 Wednesday AMC
CACI INTL A CACI 1.05 1.96 43.8 Wednesday AMC
IBERIABANK CORP IBKC 1.01 0.87 3.09 Wednesday AMC
ROCK-TENN CO RKT 0.9 0.83 23.58 Wednesday AMC
STEEL DYNAMICS STLD 0.4 0.24 6.82 Wednesday AMC
TRIUMPH GRP INC TGI 1.45 0.99 0.71 Wednesday AMC
DUKE REALTY CP DRE 0.3 0.29 0 Wednesday AMC
IDEX CORP IEX 0.87 0.82 4.76 Wednesday AMC
QIAGEN NV QGEN 0.3 0.33 0 Wednesday AMC
KILROY REALTY KRC 0.72 0.67 2.99 Wednesday AMC
PAREXEL INTL CP PRXL 0.59 0.51 12.07 Wednesday AMC
SL GREEN REALTY SLG 1.43 1.38 4.83 Wednesday AMC
CANON INC ADR CAJ 0.53 0.44 -7.69 Wednesday
FIAT CHRYSLER FCAU 0.41 999 N/A Wednesday
FUJIFILM HLDGS FUJIY N/A 0.63 N/A Wednesday
COMMVAULT SYSTM CVLT 0.14 0.36 -50 Wednesday BTO
HAEMONETICS CP HAE 0.51 0.61 4.44 Wednesday BTO
TUPPERWARE BRND TUP 1.53 1.81 -3.23 Wednesday BTO
EVERBANK FIN CP EVER 0.31 0.24 6.45 Wednesday BTO
AB ELECTROLUX ELUXY N/A 1.17 N/A Wednesday BTO
CIELO SA ADR CIOXY N/A 0.19 -8.7 Wednesday AMC
WEST CORP WSTC 0.72 0.72 9.72 Wednesday AMC
TERADYNE INC TER 0.12 0.07 10 Wednesday AMC
KIRBY CORP KEX 1.14 1.13 -2.19 Wednesday AMC
TETRA TECH NEW TTEK 0.34 0.42 0 Wednesday AMC
ALBEMARLE CORP ALB 1.01 1.08 11.76 Wednesday AMC
SKF AB SKFRY 0.29 -0.71 N/A Wednesday
UNVL STAINLESS USAP 0.24 -0.27 N/A Wednesday BTO
CARPENTER TECH CRS 0.54 0.55 15.38 Wednesday BTO
RPC INC RES 0.32 0.17 -9.09 Wednesday BTO
CABOT CORP CBT 0.65 0.86 30.77 Wednesday AMC
METHANEX CORP MEOH 0.93 1.37 -16.92 Wednesday AMC
CORE LABS NV CLB 1.54 1.41 -0.66 Wednesday AMC
LAS VEGAS SANDS LVS 0.81 0.72 0 Wednesday AMC
ROCHE HLDG LTD RHHBY N/A 999 N/A Wednesday
CELGENE CORP CELG 0.88 0.67 7.32 Thursday BTO
ALEXION PHARMA ALXN 1.17 0.8 8.57 Thursday BTO
ROYAL CARIBBEAN RCL 0.41 0.23 0.46 Thursday BTO
BROADCOM CORP-A BRCM 0.7 0.41 12.12 Thursday AMC
CHUBB CORP CB 2.16 2.07 11.28 Thursday AMC
CMS ENERGY CMS 0.36 0.37 -9.76 Thursday BTO
HERSHEY CO/THE HSY 1.07 0.86 -2.78 Thursday BTO
XCEL ENERGY INC XEL 0.35 0.3 -3.95 Thursday BTO
CARDINAL HEALTH CAH 1.11 0.9 3.09 Thursday BTO
AIR PRODS & CHE APD 1.49 1.34 2.47 Thursday BTO
LEGGETT & PLATT LEG 0.44 0.35 2 Thursday AMC
MEAD JOHNSON NU MJN 0.87 0.78 2.2 Thursday BTO
NASDAQ OMX GRP NDAQ 0.74 0.69 2.86 Thursday BTO
NORTHROP GRUMMN NOC 2.22 2 7.41 Thursday BTO
PHILLIPS 66 PSX 1.33 1.34 19.53 Thursday BTO
FORD MOTOR CO F 0.23 0.31 26.32 Thursday BTO
RAYTHEON CO RTN 1.78 1.58 2.48 Thursday BTO
SHERWIN WILLIAM SHW 1.36 1.29 6.6 Thursday BTO
VALERO ENERGY VLO 1.17 1.78 27.39 Thursday BTO
HARLEY-DAVIDSON HOG 0.33 0.34 15 Thursday BTO
INVESCO LTD IVZ 0.62 0.58 3.23 Thursday BTO
PULTE GROUP ONC PHM 0.41 0.57 2.78 Thursday BTO
TIME WARNER CAB TWC 2.1 1.82 -2.11 Thursday BTO
HELMERICH&PAYNE HP 1.57 1.56 -5.36 Thursday BTO
QUEST DIAGNOSTC DGX 1.05 1.03 1.85 Thursday BTO
BARD C R INC BCR 2.24 1.42 2.38 Thursday AMC
PERKINELMER INC PKI 0.78 0.73 0 Thursday AMC
EASTMAN CHEM CO EMN 1.54 1.35 5 Thursday AMC
PRINCIPAL FINL PFG 1.04 0.96 12.26 Thursday AMC
GOOGLE INC-CL A GOOGL 5.86 4.96 -8.05 Thursday AMC
AMAZON.COM INC AMZN 0.22 0.51 -30.14 Thursday AMC
VISA INC-A V 2.5 2.2 3.32 Thursday AMC
STANLEY B&D INC SWK 1.54 1.32 7.64 Thursday BTO
HARMAN INTL IND HAR 1.3 1.09 16.96 Thursday BTO
L-3 COMM HLDGS LLL 2.19 2.17 0 Thursday BTO
BAXTER INTL BAX 1.31 1.26 0 Thursday BTO
ABBOTT LABS ABT 0.68 0.58 3.33 Thursday BTO
THERMO FISHER TMO 1.94 1.43 1.18 Thursday BTO
COLGATE PALMOLI CL 0.75 0.75 1.33 Thursday BTO
ZIMMER HOLDINGS ZMH 1.7 1.66 3.85 Thursday BTO
VIACOM INC-B VIAB 1.3 1.2 1.79 Thursday BTO
ROBT HALF INTL RHI 0.61 0.49 6.78 Thursday AMC
DOW CHEMICAL DOW 0.68 0.65 7.46 Thursday BTO
CONOCOPHILLIPS COP 0.62 1.4 10.26 Thursday BTO
OCCIDENTAL PET OXY 0.76 1.72 -5.39 Thursday BTO
CAMERON INTL CAM 1.2 1 5.41 Thursday BTO
Microchip Tech MCHP 0.56 0.56 -3.12 Thursday BTO
WORLD ACCEPTANC WRLD 2.11 1.98 -0.46 Thursday BTO
JETBLUE AIRWAYS JBLU 0.23 0.14 -7.69 Thursday BTO
EMULEX CORP ELX 0.19 0.17 140 Thursday AMC
GREEN DOT CP-A GDOT 0.12 0.07 0 Thursday AMC
HAWAIIAN HLDGS HA 0.38 0.22 6.76 Thursday AMC
MINERAL TECH MTX 1.07 0.61 16.82 Thursday AMC
ATTUNITY LTD ATTU 0.09 0.06 N/A Thursday BTO
DSP GROUP INC DSPG -0.01 0.03 33.33 Thursday BTO
KEMET CORP KEM 0.07 0 233.33 Thursday BTO
SILICOM LIMITED SILC 0.51 0.91 -15 Thursday BTO
FIRST CT BANCRP FBNK 0.18 0.07 13.33 Thursday BTO
MAKEMYTRIP LTD MMYT -0.08 -0.02 16.67 Thursday BTO
INVEST TECH-NEW ITG 0.38 0.24 -3.85 Thursday BTO
SUNCOKE ENERGY SXC 0.26 0.16 133.33 Thursday BTO
DICE HOLDINGS DHX 0.13 0.07 90.91 Thursday BTO
KATE SPADE&CO KATE 0.24 0.15 -100 Thursday BTO
ALIBABA GROUP BABA 0.62 999 -32.43 Thursday BTO
BEMIS BMS 0.56 0.54 0 Thursday BTO
PENN NATL GAMNG PENN -0.05 0.16 66.67 Thursday BTO
MEDNAX INC MD 0.87 0.78 1.18 Thursday BTO
ELECTRN IMAGING EFII 0.34 0.2 N/A Thursday AMC
FAIR ISAAC INC FICO 0.63 0.6 19.57 Thursday AMC
MITEK SYSTEMS MITK -0.05 -0.05 166.67 Thursday AMC
QUANTUM CP-DSSG QTM 0.02 0.01 200 Thursday AMC
BANCORP BNK/THE TBBK 0.02 0.19 136.36 Thursday AMC
HARMONIC INC HLIT -0.01 0.05 100 Thursday AMC
LANTRONIX INC LTRX -0.02 0 150 Thursday AMC
NATL INSTRS CP NATI 0.3 0.28 26.92 Thursday AMC
PMC-SIERRA INC PMCS 0.09 0.07 28.57 Thursday AMC
SELECT INS GRP SIGI 0.63 0.45 49.02 Thursday AMC
UNISYS UIS 1.82 2.82 85.71 Thursday AMC
SCANSOURCE INC SCSC 0.66 0.64 22.95 Thursday AMC
BOFI HLDG INC BOFI 1.2 0.95 8.11 Thursday AMC
NATIONAL BK HLD NBHC 0.07 0.02 54.55 Thursday AMC
SYNAPTICS INC SYNA 0.99 0.65 -18.37 Thursday AMC
STRATTEC SEC CP STRT 1.49 1.09 77.08 Thursday
NOKIA CP-ADR A NOK 0.12 0.11 37.5 Thursday
COLUMBUS MCKINN CMCO 0.36 0.31 32.5 Thursday BTO
CENTRAL PAC FIN CPF 0.28 0.24 -17.86 Thursday BTO
DST SYSTEMS DST 1.53 1.34 19.38 Thursday BTO
KELLY SVCS A KELYA 0.17 0.46 -52.38 Thursday BTO
REGIS CORP/MN RGS -0.05 -0.04 -150 Thursday BTO
CASCADE BANCORP CACB 0.05 0.03 66.67 Thursday BTO
CNH INDUSTRIAL CNHI 0.12 0.18 45.45 Thursday BTO
HERITAGE FIN CP HFWA 0.23 0.04 0 Thursday BTO
K12 INC LRN 0.29 0.36 18.18 Thursday BTO
PHILLIPS 66 PTR PSXP 0.38 0.24 -5.13 Thursday BTO
SUNCOKE ENERGY SXCP 0.53 0.53 -7.14 Thursday BTO
CAPITAL BNK FIN CBF 0.26 0.24 3.85 Thursday BTO
STATE BANK FINL STBZ 0.31 0.28 70 Thursday BTO
TIMKEN CO TKR 0.61 0.78 18.46 Thursday BTO
VALLEY NATL BCP VLY 0.12 0.2 -6.67 Thursday BTO
CHECK PT SOFTW CHKP 0.98 0.92 1.2 Thursday BTO
MARINEMAX INC HZO -0.07 -0.14 15.38 Thursday BTO
ROYAL GOLD INC RGLD 0.29 0.16 10.71 Thursday BTO
AUTOLIV INC ALV 1.58 1.7 -10.71 Thursday BTO
ALLY FINANCIAL ALLY 0.39 999 26.19 Thursday BTO
BRUNSWICK CORP BC 0.27 0.15 10.53 Thursday BTO
HUBBELL INC -B HUB.B 1.26 1.38 0 Thursday BTO
HHGREGG INC HGG -0.04 0.17 N/A Thursday BTO
POTASH SASK POT 0.46 0.31 -9.52 Thursday BTO
ENTERPRISE PROD EPD 0.36 0.4 0 Thursday BTO
LANDSTAR SYSTEM LSTR 0.81 0.61 1.23 Thursday BTO
CLEARFIELD INC CLFD N/A 0.15 N/A Thursday BTO
DOVER MOTORSPRT DVD N/A -0.06 N/A Thursday BTO
API TECH CORP ATNY 0 -0.07 N/A Thursday AMC
COHERENT INC COHR 0.58 0.54 15.28 Thursday AMC
GRANA Y MONTERO GRAM 0.2 0.35 160 Thursday AMC
PROOFPOINT INC PFPT -0.35 -0.24 -9.68 Thursday AMC
CORCEPT THERAPT CORT -0.05 -0.1 28.57 Thursday AMC
MERCHANTS BANCS MBVT 0.52 0.6 -10.2 Thursday AMC
MICREL INC MCRL 0.04 0.06 -60 Thursday AMC
NEWMARKET CORP NEU 4 4.01 -6.8 Thursday AMC
QLOGIC CORP QLGC 0.24 0.25 5.56 Thursday AMC
SOLARWINDS INC SWI 0.4 0.36 N/A Thursday AMC
TFS FINANCIAL TFSL 0.05 0.05 -16.67 Thursday AMC
TUESDAY MORNING TUES 0.56 0.45 12.5 Thursday AMC
GIGAMON INC GIMO -0.02 0 40 Thursday AMC
GREEN BANCORP GNBC 0.15 0.15 25 Thursday AMC
NATURAL GROCERS NGVC 0.14 0.13 7.69 Thursday AMC
PC CONNECTION PCCC 0.4 0.37 12.2 Thursday AMC
SURMODICS SRDX 0.21 0.21 4 Thursday AMC
ABAXIS INC ABAX 0.25 0.14 9.09 Thursday AMC
CREDIT ACCEPT CACC 3.26 2.73 1.56 Thursday AMC
COLUMBIA BK SYS COLB 0.42 0.48 -2.38 Thursday AMC
CALLAWAY GOLF ELY -0.55 -0.34 96.43 Thursday AMC
BOTTOMLINE TECH EPAY 0.18 0.05 25 Thursday AMC
INVENSENSE INC INVN 0.13 0.1 -130 Thursday AMC
JDS UNIPHASE CP JDSU 0.09 0.12 75 Thursday AMC
CONSTANT CONTAC CTCT 0.2 0.18 14.29 Thursday AMC
FCB FINL HLDGS FCB 0.27 999 -95.45 Thursday AMC
FIRST FIN BC-OH FFBC 0.31 0.31 10.71 Thursday AMC
RIVERBED TECH RVBD 0.19 0.24 -5.26 Thursday AMC
GLACIER BANCORP GBCI 0.41 0.36 0 Thursday AMC
STANCORP FNL CP SFG 1.35 1.49 31.06 Thursday AMC
VALIDUS HOLDING VR 1.22 0.92 -15.32 Thursday AMC
INFORMATICA CRP INFA 0.43 0.41 0 Thursday AMC
INVESTORS BANCP ISBC 0.11 0.09 10 Thursday AMC
NETSUITE INC N -0.25 -0.19 4 Thursday AMC
ALIGN TECH INC ALGN 0.49 0.51 9.3 Thursday AMC
HANESBRANDS INC HBI 1.45 0.98 0.58 Thursday AMC
CEPHEID INC CPHD -0.14 -0.07 37.5 Thursday AMC
DECKERS OUTDOOR DECK 4.5 4.04 15.84 Thursday AMC
MB FINANCL INC MBFI 0.49 0.43 -13.16 Thursday AMC
COMPUTER PRGRMS CPSI 0.85 0.9 -1.19 Thursday AMC
DOCTOR REDDYS RDY N/A 0.54 N/A Thursday AMC
ATLAS COP-ADR A ATLKY 0.37 0.37 -2.7 Thursday
KOFAX LTD KFX 0.07 0.08 0 Thursday
WSFS FINL CORP WSFS 1.42 1.33 5.71 Thursday
CAPITOL FEDL FN CFFN 0.15 0.12 7.14 Thursday
SHIN-ETSU CHEM SHECY N/A 0.16 N/A Thursday
CABOT MICROELEC CCMP 0.57 0.45 6.56 Thursday BTO
LANCASTER COLON LANC 1.28 1.44 N/A Thursday BTO
SANDVIK AB SDVKY 0.13 0.01 N/A Thursday BTO
GASLOG PARTNERS GLOP 0.42 999 36.59 Thursday BTO
APPLD INDL TECH AIT 0.69 0.61 -4.11 Thursday BTO
ROGERS COMM CLB RCI 0.59 0.6 -17.07 Thursday BTO
BLACKSTONE GRP BX 0.95 1.12 -15.38 Thursday BTO
KENNAMETAL INC KMT 0.56 0.52 1.82 Thursday BTO
MERITAGE HOMES MTH 1.03 1.19 -12.22 Thursday BTO
RYLAND GRP INC RYL 0.96 1.28 7.59 Thursday BTO
WESCO INTL INC WCC 1.49 1.26 1.33 Thursday BTO
TCF FINL CORP TCB 0.29 0.22 -3.33 Thursday BTO
NATL FUEL GAS NFG 0.94 0.97 5.26 Thursday AMC
BANCO BRADESCO BBD 0.38 0.33 -2.56 Thursday
DIAGEO PLC-ADR DEO N/A 999 N/A Thursday
KYOCERA CP ADR KYO N/A 0.69 N/A Thursday
CASH AM INTL CSH 0.43 1.01 15.58 Thursday BTO
B/E AEROSPACE BEAV 0.77 0.9 0.87 Thursday BTO
CARBO CERAMICS CRR 0.64 0.9 7.79 Thursday BTO
NTT DOCOMO -ADR DCM N/A 0.31 N/A Thursday BTO
TIMKENSTEEL CP TMST 0.4 999 5.66 Thursday AMC
MANITOWOC INC MTW 0.33 0.47 -20 Thursday AMC
DEUTSCHE BK AG DB N/A -1.66 N/A Thursday
ROYAL DTCH SH-A RDS.A 1.34 0.92 5.75 Thursday
ALTRIA GROUP MO 0.66 0.57 1.47 Friday BTO
ABBVIE INC ABBV 0.85 0.82 14.1 Friday BTO
LEGG MASON INC LM 0.97 1.03 6.06 Friday BTO
TYSON FOODS A TSN 0.72 0.72 12.99 Friday BTO
WEYERHAEUSER CO WY 0.28 0.27 10 Friday BTO
TYCO INTL PLC TYC 0.49 0.47 0 Friday BTO
LILLY ELI & CO LLY 0.74 0.74 0 Friday BTO
INGERSOLL RAND IR 0.7 0.61 5.77 Friday BTO
NEWELL RUBBERMD NWL 0.49 0.47 5.45 Friday BTO
SIMON PROPERTY SPG 2.47 2.47 -5.94 Friday BTO
CONSOL ENERGY CNX 0.21 0.03 -55 Friday BTO
MASTERCARD INC MA 0.67 0.57 14.1 Friday BTO
XEROX CORP XRX 0.28 0.29 3.85 Friday BTO
MATTEL INC MAT 0.98 1.07 -6.67 Friday BTO
FRANKLIN RESOUR BEN 0.93 0.96 10.87 Friday BTO
CHEVRON CORP CVX 1.65 2.57 16.14 Friday BTO
SAIA INC SAIA 0.45 0.32 -3.03 Friday BTO
COMMUNITYONE BC COB 0.11 0.11 13.33 Friday BTO
GRAHAM CORP GHM 0.32 0.14 36.67 Friday BTO
HONDA MOTOR HMC 0.55 0.87 -5.26 Friday BTO
WEST BANCORP WTBA 0.31 0.27 6.67 Friday BTO
MOOG INC A MOG.A 0.85 0.88 5.66 Friday BTO
IDEXX LABS INC IDXX 0.8 0.82 19.32 Friday BTO
NUSTAR GP HLDGS NSH 0.36 0.27 2.5 Friday BTO
OFG BANCORP OFG 0.36 0.35 -8.11 Friday BTO
PROVIDNT FIN SV PFS 0.34 0.3 6.25 Friday BTO
BEAZER HOMES BZH -0.07 -0.16 93.4 Friday BTO
BERRY PLASTICS BERY 0.26 0.18 -5.41 Friday BTO
KCG HOLDINGS KCG 0.2 0.05 -280 Friday BTO
PARK STERLNG CP PSTB 0.09 0.1 0 Friday BTO
LEAR CORPORATN LEA 2.06 1.55 2.12 Friday BTO
IMMUNOGEN INC IMGN -0.06 0.04 -85.71 Friday BTO
NUSTAR ENERGY NS 0.52 0.21 1.67 Friday BTO
TALMER BANCORP TLMR 0.17 0.18 8.33 Friday AMC
EISAI CO LTD ESALY N/A 0.09 N/A Friday
ENERSIS S A ADR ENI N/A 0.39 -44 Friday BTO
ENDESA-CHILE EOC 0.78 1.05 N/A Friday BTO
INGREDION INC INGR 1.52 1.35 0 Friday BTO
MAGIC SOFTWARE MGIC 0.11 0.16 -25 Friday BTO
MANPOWER INC WI MAN 1.44 1.48 8.05 Friday BTO
NOVO-NORDISK AS NVO N/A 0.42 N/A Friday BTO