by Bespoke Investment Group
Below we highlight the average one-day change on their report days for companies that have reported earnings this season by sector. We also include the average one-day change on earnings by sector for all earnings seasons going back to 2001. As shown, the average Telecom stock has declined 7.54% on its report day this season, which is the worst performance of any sector. The Energy sector has been the second worst with an average one-day change of -4.30%, followed by Materials (-3.83%) and Consumer Staples (-3.41%). Surprisingly, Financial sector stocks are holding up the best in response to their earnings reports this season. The average one-day change for Financial stocks on their report days has been -1.12%. It's pretty sad when the BEST performing sector is averaging a one-day decline of more than 1%.
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