Are ya kidding me with some of these quarters? They roll out like they are nothing special and then you read the commentary and the guidance and you say to yourself, I can't believe they could be doing that well.
Take United Rentals (URI) , a company with a stock that fell apart when oil went down. Tonight it recorded a quarter that so exceeded expectations that I can't believe it didn't pre-announce: the Street looking for $2.30 a share and it does $2.67! Why? Broad-based demand for rental product. A year ago, this stock was at $43. Now it is at $114 and I have to tell you the darned thing isn't done.
Or how about Teradyne (TER) , a not-bad semiconductor equipment testing company that's been quietly going higher. Well, I don't know how quiet it will be going forward, not when it reports 32 cents a share and the Street was thinking 22.
Or how about ServiceNow (NOW) ? This is the most richly valued of any cloud-based company. It had 41% subscription growth for its software-as-a-service business. How the heck is that even possible in this day in age?
And eBay (EBAY) put up terrific numbers, too.
Yet, I suspect that all we will hear about is what Trump's up to with the auto companies or homeland security. Trump's exciting, but we are seeing companies playing far beyond what we thought they were capable of just a few months ago.
After the end of a long day -- oops, no, catch that, still have to do a special -- I read these reports and I think, how many expected this many fantastic earnings reports? How many were set up that way? As you can see from all the reaching going on, not many. Not many at all.