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Earnings Report Card

Tuesday, February 19, 2013
by Russ MacKay

We are in the midst of Q4/12 earnings season, and there continues to be a diverging trend between Canada and the US.  As per our friends at Scotia, last week they reported that the EPS of the S&P/TSX Index was -1% for Q4 year-over-year, while the EPS of the S&P 500 Index was +3% for Q4 year-over-year.  This difference in earnings in part explains the continued outperformance of the US market over Canada.

And when you dive into the sector details, the highest earning’s beats are coming from the following key sectors in North America; Technology, Staples, and Discretionary, all reporting a beat ratio of over 70%.

Investors should consider looking abroad for equity exposure to key sectors and companies.

Russ MacKay


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