With earnings season in full swing, more companies are again offering earnings guidance, signaling to investors that some corporations are adapting to uncertainty about a global pandemic that may extend deep into next year.
The market has been buffeted by cross-currents related to the looming Nov. 3 U.S. presidential election, drawn out fiscal stimulus talks in Washington and a resurgent pandemic. Still, investors appear more hopeful in recent months. "Now we're seeing how companies expect to be able to navigate through the challenges of the year ahead," she said.
Nearly 86per cent of companies that have reported earnings so far have beat analyst expectations, a rate 20 percentage points higher than the average beat rate since 1994, according to Refinitiv data.
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