Earnings continue to come in above consensus numbers.  Forty-three companies reported before the bell today.  Of those 43, 32 (75%) beat consensus, 3 met and 8 missed.  The market is punishing companies that miss.

• AGR missed EPS by $0.08 and the stock is down 5%.
• BTU missed EPS by $0.14 and the stock traded down over 3%. 
• PPBI missed EPS by $0.03 and the stock is down 2%

The market is getting a bit finicky on beats, companies that beat and do not guide higher are not being rewarded.  WERN is a good example.  WERN beat on both the top and bottom lines, but it did not give any guidance, and the stock is trading down over 9%.  JBHT and HTLD are two other trucking stocks that reported and did not give any forward guidance.  The trucking group is under pressure today.         

Markets are mixed today.  Multinational companies are leading the way. 

• The Dow is up 0.82%   
• S&P 500 is higher by 0.46%
• The Nasdaq is lower by 0.06%
• The Russell 2000 is lower by 0.76%

Breadth: Mixed

• NYSE advances are 1,593 to declines of 1,319; new 52-week highs are 88 to new lows of 19
• Nasdaq has advances of 1,083 to declines of 1,813; new highs are 133 to new lows of 41

The earnings continue after the bell when approximately 42 companies report.