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Estimates for 2016 Q1 Falling Sharply

Sheraz Mian

The picture emerging from the Q4 earnings season is one of all around weakness, with growth hard to come by in the face of a slowing global economy, the strong U.S. dollar, and weakness in the oil and other commodity sectors. This isn’t a new problem, we have been discussing these headwinds the last few reporting cycles as well. In other words, the earnings recession continues with Q4 earnings for the S&P 500 index on track to be below the year-earlier level – the third quarter in a row of negative earnings growth for the index.

This growth challenge isn’t confined to 2015 Q4 alone, the outlook for the current and following quarters has been steadily deteriorating as well. We will discuss the steadily down-trending estimates picture for 2016 Q1 a little later in this write-up, but total Q1 earnings growth for the S&P 500 index are currently expected to be down -7.8% from the same period last year. This is materially down from what was expected for the quarter in early January. In fact, all of the earnings growth for the S&P 500 index in 2016 is now entirely expected to come in the back half of the year, with growth in the first half of the year now expected to be in the negative.

Developments in the oil patch are driving a big part of the negative revisions, but there is plenty of negative momentum in other sectors as well. Estimates for the Technology and Finance sectors have been coming down lately. Take for example the Zacks Consensus EPS estimates for bellwether players like Apple (AAPL) and J.P. Morgan (JPM) from these two sectors: the current Zacks Consensus EPS estimate for Apple is $2.01, which is down from $2.22 a month back while the same for J.P. Morgan has dropped from $1.53 to $1.51. Estimates for other major players in these two sectors like Intel (INTC), MSFT (MSFT), Bank of America (BAC) and Citigroup (C) have similarly come down.

Q4 Scorecard (as of Friday, February 12th)

Total earnings for the 382 S&P 500 members that have reported results already are down -6.4% on -4.6% lower revenues, with 67.4% beating EPS estimates and 48% coming ahead of top-line expectations. At this stage, the Retail and Utilities sectors are the only ones with any sizable number of reports still to come; the reporting cycle is effectively behind us for most of the other sectors.

The table below provides the current Q4 scorecard



Earnings growth for half of the 16 Zacks sectors is in the negative, with the Technology & Finance sectors – the two biggest sectors in the index – showing growth of +0.5% and -1% from the year-earlier level. The Finance sector was earlier in the positive column, thanks to easy comparisons at Citigroup, which has since been more than offset by tough comparisons at AIG (AIG).

The charts below provide a comparison of the results thus far with what we have seen from this same group of 382 S&P 500 members in other recent periods.



As you can see in the above chart(s), while growth for these 382 index members is notably below what we had seen from the same group of companies in other recent periods, the beat ratios are in-line or better relative to other recent periods. This likely means nothing more than estimates had likely fallen more than they needed to in the run up to the start of the Q4 earnings season.

This growth & surprise dichotomy is particularly notable for the Technology sector, though surprises have been fairly numerous in the Medical and Finance sectors as well. We referred to the Finance sector earlier. For the Medical sector, earnings for the 76.9% of the sector companies that have reported are up +7.3% from the same period last year on +9.2% higher revenues, with 75% beating EPS estimates and 62.5% beating revenue estimates.

With results from 50 of the 63 Tech sector companies in the S&P 500 index already out that combined account for 93.6% of sector’s total market cap in the index, total earnings for the quarter are up 0.5% on +2.5% higher revenues, with 76% beating EPS estimates and 62% beating revenue estimates. Strong growth from the likes of Google’s parent Alphabet (GOOGL), Facebook (FB) and a few others was offset by flat to modestly down growth at legacy players like Microsoft (MSFT), Intel (INTC) and others. Even Apple’s earnings were barely in the positive territory in Q4, and its estimates for the current period have been coming down following the Q4 report.

You can see in the right-hand side chart that positive surprises for the sector, both earnings as well revenues, are tracking above other recent periods.



In terms of weak revenue surprises, the sectors that stand out include Utilities (0% revenue beat ratio), Basic Materials (only 17.6% have beat revenues), Transportation (only 7.7% beating revenue estimates), Retail (28.6%) and Aerospace (33.3%).

Q4 As a Whole

The composite (or blended) growth rate for Q4, combining the actual results from the 382 index members that have reported results with estimates for the still-to-come 118 members, shows total earnings declining by -6.5% from the same period last year on -3.9% lower revenues, the third straight quarter of earnings declines for the index.

While Energy remains the big drag, as it has been in other recent quarters, the weakness is broad-based, with 9 of the 16 sectors expected to suffer earnings declines. Total earnings for the Energy sector are expected be down -79.2% on -35.4% lower revenues. Excluding Energy, earnings growth for the S&P 500 would be essentially flat from the year-earlier level (down -0.1% on +0.3% higher revenues).

The table below provides a summary picture of Q4 expectations contrasted with what was actually achieved in the preceding quarter.



Looking Beyond 2015 Q4

While earnings growth was negative in the last three quarters, the outlook for the current and following periods doesn’t look any better. As referred to earlier, estimates for 2016 Q1 have been coming down at an accelerated pace, with total earnings for the quarter now expected to be down -7.8% from the same period last year.

The chart below shows earnings growth expectations for the current period have evolved since the start of the quarter



A big part of the recent negative revisions reflect developments in the oil patch, but the outlook for the other sectors isn’t that inspiring either, with estimates for the other sectors coming down as well. The chart below shows that 2016 Q1 estimates are in the negative even on an ex-Energy basis.



As you can see in the chart below of quarterly growth expectations, all of this year’s growth is now expected to come from second half of the year, with earnings growth in the first half now in the negative.



The relatively optimistic looking expectations for the outer periods aren’t unusual – Wall Street analysts always tend to be more optimistic about the future. But estimates start coming down as the period in question comes closer. The erosion of 2015 growth estimates was driven largely by what happened to the Energy sector. But estimates for other sectors came down as well……………and we will likely see something similar to current 2016 estimates as well.
 

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Note: For a complete analysis of 2015 Q4 estimates, please check out weekly Earnings Trends report.

Here is a list of the 349 companies reporting this week, including 55 S&P 500 members.
 

Company Ticker Current Qtr Year-Ago Qtr Last EPS Surprise % Report Day Time
Generac Holding GNRC 0.88 0.98 13.58% Tuesday BTO
Yandex Nv-A YNDX 0.18 0.41 -12.50% Tuesday BTO
Genuine Parts GPC 0.99 1.07 0.81% Tuesday BTO
Zoetis Inc ZTS 0.39 0.4 25.00% Tuesday BTO
Build-A-Bear Wk BBW 0.51 0.73 -54.55% Tuesday BTO
Landmark Infras LMRK 0.15 0.12 -71.43% Tuesday BTO
Palatin Tech PTN -0.07 0.03 0.00% Tuesday BTO
Restaurant Brnd QSR 0.31 -2.25 6.67% Tuesday BTO
Surgical Care SCAI 0.67 0.68 -6.25% Tuesday BTO
Sonus Networks SONS 0.1 0.06 100.00% Tuesday BTO
Tile Shop Hldgs TTS 0.07 0.03 33.33% Tuesday BTO
Baxalta Inc BXLT 0.56 N/A 16.67% Tuesday BTO
Hormel Foods Cp HRL 0.37 0.34 8.82% Tuesday BTO
Tegna Inc TGNA 0.46 1.02 2.78% Tuesday BTO
Cementos Pacasm CPAC 0.16 0.19 6.67% Tuesday BTO
Ceragon Netwrks CRNT 0.01 -0.06 100.00% Tuesday BTO
Sagent Pharma SGNT -0.01 0.14 114.29% Tuesday BTO
Select Income SIR 0.72 0.65 2.86% Tuesday BTO
Student Transpt STB 0.04 0.04 -11.11% Tuesday BTO
Cryolife Inc CRY 0.05 0.04 900.00% Tuesday BTO
Cai Intl Inc CAI 0.56 0.75 3.33% Tuesday AMC
Fossil Grp Inc FOSL 1.29 3 5.31% Tuesday AMC
Harmonic Inc HLIT -0.04 -0.01 -50.00% Tuesday AMC
North Amer Egy NOA -0.01 -0.03 -233.33% Tuesday AMC
Fmc Tech Inc FTI 0.5 0.79 3.39% Tuesday AMC
Cimarex Energy XEC -0.23 0.87 -66.67% Tuesday AMC
Dynagas Lng Ptr DLNG 0.41 0.44 -2.38% Tuesday AMC
Ellington Finl EFC 0.55 0.56 -10.53% Tuesday AMC
Essendant Inc ESND 0.86 0.88 -1.96% Tuesday AMC
Kaiser Aluminum KALU 1.11 0.85 -6.96% Tuesday AMC
Nabors Ind NBR -0.27 0.33 0.00% Tuesday AMC
Rackspace Hostg RAX 0.23 0.26 23.81% Tuesday AMC
Radiant Logist RLGT 0.03 0.04 -33.33% Tuesday AMC
Terex Corp TEX 0.51 0.72 -6.45% Tuesday AMC
Watts Water Tec WTS 0.53 0.58 6.35% Tuesday AMC
Agilent Tech A 0.43 0.41 6.38% Tuesday AMC
Cerner Corp CERN 0.53 0.44 -1.96% Tuesday AMC
Devon Energy DVN 0.74 0.83 33.33% Tuesday AMC
Express Scripts ESRX 1.55 1.39 0.69% Tuesday AMC
Firstenergy Cp FE 0.58 0.8 12.79% Tuesday AMC
Public Storage PSA 2.42 2.2 0.89% Tuesday AMC
Vornado Rlty Tr VNO 1.29 1.22 0.00% Tuesday AMC
Amer Assets Tr AAT 0.44 0.42 -4.35% Tuesday AMC
Aurinia Pharma AUPH -0.16 -0.15 21.74% Tuesday AMC
Carriage Svcs-A CSV 0.42 0.38 -5.71% Tuesday AMC
Covanta Holding CVA 0.14 0.06 10.00% Tuesday AMC
Cytokinetcs Inc CYTK -0.31 0.23 20.69% Tuesday AMC
Danaos Corp DAC 0.39 0.21 25.00% Tuesday AMC
Diodes Inc DIOD 0.05 0.38 -55.17% Tuesday AMC
Ensync Inc ESNC -0.09 -0.09 0.00% Tuesday AMC
Franklin St Ppt FSP 0.27 0.27 -3.57% Tuesday AMC
Full Circle Cap FULL 0.11 0.19 0.00% Tuesday AMC
Healthstream HSTM 0.06 0.1 50.00% Tuesday AMC
Hersha Hosptly HT 0.6 0.56 9.84% Tuesday AMC
Imprivata Inc IMPR -0.21 -0.06 3.57% Tuesday AMC
Innospec Inc IOSP 1.16 1.15 22.92% Tuesday AMC
Laredo Petrolm LPI 0.1 0.15 0.00% Tuesday AMC
Mesoblast Ltd MESO N/A N/A Tuesday AMC
Rightside Group NAME -0.3 0.08 37.93% Tuesday AMC
Neenah Paper NP 0.84 0.75 9.88% Tuesday AMC
Potbelly Corp PBPB 0.06 0.06 -11.11% Tuesday AMC
Pdvwireless Inc PDVW -0.44 -0.28 0.00% Tuesday AMC
Ps Business Pks PSB 1.23 1.21 0.00% Tuesday AMC
Retail Properts RPAI 0.24 0.27 17.39% Tuesday AMC
Incontact Inc SAAS -0.09 -0.07 18.18% Tuesday AMC
Silver Spring SSNI -0.07 -0.02 88.24% Tuesday AMC
Transunion TRU 0.24 N/A 3.57% Tuesday AMC
Vasco Data Sec VDSI 0.19 0.32 41.67% Tuesday AMC
Blackstone Mrtg BXMT 0.64 0.47 13.11% Tuesday AMC
Boyd Gaming Cp BYD 0.14 0 170.00% Tuesday AMC
Cheesecake Fact CAKE 0.52 0.48 5.36% Tuesday AMC
Healthcare Rlty HR 0.41 0.38 2.50% Tuesday AMC
Hatteras Fin Cp HTS 0.43 0.59 -11.76% Tuesday AMC
Lantronix Inc LTRX -0.05 -0.02 85.71% Tuesday AMC
Maxwell Tech MXWL 0 -0.02 50.00% Tuesday AMC
T2 Biosystems TTOO -0.61 -0.45 5.00% Tuesday AMC
Weingarten Rlty WRI 0.56 0.51 1.82% Tuesday AMC
Zendesk Inc ZEN -0.27 -0.23 16.00% Tuesday AMC
Zix Corp ZIXI 0.06 0.03 40.00% Tuesday AMC
Acadia Healthcr ACHC 0.6 0.46 8.77% Tuesday AMC
Capstone Mining CSFFF -0.06 0 33.33% Tuesday AMC
Exactech Inc EXAC 0.28 0.36 -16.67% Tuesday AMC
Midcoast En Ptn MEP -0.15 -0.08 88.89% Tuesday N/A
Orange-Adr ORAN N/A N/A Tuesday N/A
Rti Surgical RTIX 0.05 0.05 0.00% Tuesday N/A
Analog Devices ADI 0.53 0.62 24.10% Wednesday BTO
Altra Indus Mot AIMC 0.35 0.42 7.50% Wednesday BTO
Amag Pharma Inc AMAG 0.42 0.04 -196.88% Wednesday BTO
Astronics Corp ATRO 0.55 0.83 3.30% Wednesday BTO
Cone Midstream CNNX 0.33 0.26 26.92% Wednesday BTO
Enbridge Inc ENB N/A 0.4 -10.00% Wednesday BTO
Cedar Fair FUN -0.07 -0.03 -17.28% Wednesday BTO
Vimpelcom Ltd VIP N/A -0.14 Wednesday BTO
Dr Pepper Snapl DPS 0.98 0.88 3.85% Wednesday BTO
Garmin Ltd GRMN 0.47 0.77 -1.92% Wednesday BTO
Host Hotel&Rsrt HST 0.35 0.4 6.25% Wednesday BTO
Noble Energy NBL -0.04 0.38 -40.00% Wednesday BTO
Albany Mol Rsch AMRI 0.29 0.28 0.00% Wednesday BTO
Autohome Inc ATHM 0.25 0.35 23.53% Wednesday BTO
Bloomin Brands BLMN 0.29 0.28 15.38% Wednesday BTO
Calumet Speclty CLMT 0.04 0.86 109.76% Wednesday BTO
Dynex Cap Inc DX 0.23 0.23 14.29% Wednesday BTO
Enbridge Egy Pt EEP 0.18 0.27 4.55% Wednesday BTO
Employers Hldgs EIG 0.48 0.44 46.51% Wednesday BTO
Enable Midstrm ENBL 0.2 0.28 143.48% Wednesday BTO
Enzymotec Ltd ENZY 0.11 0.05 0.00% Wednesday BTO
Eros Intl Plc EROS 0.05 0.36 -65.71% Wednesday BTO
Enteromedics In ETRM -0.9 -1.35 50.00% Wednesday BTO
Forestar Group FOR 0.44 0.32 -3000.00% Wednesday BTO
Gannett Co Inc GCI 0.55 N/A 16.22% Wednesday BTO
Geo Grp Inc/The GEO 0.9 0.81 3.45% Wednesday BTO
Magic Software MGIC 0.12 0.13 8.33% Wednesday BTO
Pioneer Egy Svc PES -0.26 0.04 -4.17% Wednesday BTO
Radcom Ltd RDCM 0.06 0.18 -40.00% Wednesday BTO
Comscore Inc SCOR 0.12 0.15 23.53% Wednesday BTO
Shopify Inc SHOP -0.08 N/A 33.33% Wednesday BTO
T-Mobile Us Inc TMUS 0.13 0.12 -50.00% Wednesday BTO
Wci Communities WCIC 0.38 0.51 22.58% Wednesday BTO
Priceline.Com PCLN 10.9 9.63 4.98% Wednesday BTO
Alcobra Ltd ADHD -0.24 -0.5 33.33% Wednesday BTO
Enlink Mids Llc ENLC 0.14 0.16 1558.33% Wednesday BTO
Enlink Midst Lp ENLK 0.11 0.21 41.67% Wednesday BTO
Medicines Co MDCO -1.66 0.11 7.22% Wednesday BTO
Sapiens Intl Nv SPNS 0.12 0.09 0.00% Wednesday BTO
Ultrapar Pa-Adr UGP 0.2 0.23 -21.05% Wednesday AMC
Netapp Inc NTAP 0.52 0.6 12.50% Wednesday AMC
Hornbeck Offshr HOS 0 0.52 -21.43% Wednesday AMC
Parker Drilling PKD -0.17 0.06 16.67% Wednesday AMC
Cf Indus Hldgs CF 0.86 0.96 -33.78% Wednesday AMC
Marriott Intl-A MAR 0.76 0.68 5.41% Wednesday AMC
Marathon Oil Cp MRO -0.5 -0.13 52.38% Wednesday AMC
Newmont Mining NEM 0.14 0.17 21.05% Wednesday AMC
Williams Cos WMB 0.18 0.15 57.14% Wednesday AMC
Barrick Gold Cp ABX 0.07 0.15 83.33% Wednesday AMC
Albemarle Corp ALB 0.83 0.99 1.12% Wednesday AMC
On Assignment ASGN 0.74 0.6 -34.21% Wednesday AMC
Biotelemetry BEAT 0.1 0.05 44.44% Wednesday AMC
Banco Macro-Adr BMA 1.73 1.13 10.44% Wednesday AMC
Brocade Comm Sy BRCD 0.2 0.23 0.00% Wednesday AMC
Chemed Corp CHE 1.88 1.75 3.68% Wednesday AMC
Chimera Invest CIM 0.54 0.6 -9.09% Wednesday AMC
Copa Hldgs Sa-A CPA 0.66 2.83 -4.49% Wednesday AMC
Castlight Hlth CSLT -0.22 -0.22 4.76% Wednesday AMC
Commnty Hlth Sy CYH 0.95 1.23 0.00% Wednesday AMC
Denny'S Corp DENN 0.1 0.11 0.00% Wednesday AMC
Earthlink Hldgs ELNK -0.12 -0.15 23.08% Wednesday AMC
Epam Systems EPAM 0.51 0.48 2.17% Wednesday AMC
Equity Commonwl EQC 0.33 0.53 -7.69% Wednesday AMC
Evertec Inc EVTC 0.44 0.44 0.00% Wednesday AMC
Globant Sa GLOB 0.24 0.24 0.00% Wednesday AMC
Gladstone Comml GOOD N/A 0.39 -2.50% Wednesday AMC
Iamgold Corp IAG -0.1 0.03 -20.00% Wednesday AMC
Ipass Inc IPAS N/A -0.04 Wednesday AMC
Itron Inc ITRI 0.72 0.36 -20.37% Wednesday AMC
Jive Software JIVE -0.16 -0.15 45.00% Wednesday AMC
James River Grp JRVR 0.6 0.65 6.56% Wednesday AMC
Key Energy Svcs KEG -0.31 -0.1 -37.93% Wednesday AMC
Ldr Holding LDRH -0.18 -0.12 65.00% Wednesday AMC
Grand Canyon Ed LOPE 0.78 0.7 7.69% Wednesday AMC
Lattice Semicon LSCC 0.01 0.03 11.11% Wednesday AMC
Mantech Intl -A MANT 0.37 0.39 -2.78% Wednesday AMC
New Gold Inc NGD 0.01 0.03 100.00% Wednesday AMC
Novadaq Tec Inc NVDQ -0.16 -0.1 10.00% Wednesday AMC
Oil States Intl OIS -0.01 1.09 450.00% Wednesday AMC
Quidel Corp QDEL 0.06 0.34 121.43% Wednesday AMC
Sharpspring Inc SHSP -0.14 -0.07 -46.15% Wednesday AMC
Support.Com Inc SPRT -0.11 -0.03 -16.67% Wednesday AMC
Sunpower Corp-A SPWR 1.44 0.17 -78.57% Wednesday AMC
Questar STR 0.39 0.35 0.00% Wednesday AMC
Tallgrass Enrgy TEGP 0.14 N/A -47.06% Wednesday AMC
Tallgrass Enrgy TEP 0.58 0.45 -10.71% Wednesday AMC
Urban Edge Prop UE 0.3 N/A Wednesday AMC
Williams Ptr Lp WPZ 0.5 0.65 -214.29% Wednesday AMC
Nvidia Corp NVDA 0.32 0.36 60.00% Wednesday AMC
Cloud Peak Egy CLD -0.19 0.26 284.62% Wednesday AMC
Godaddy Inc-A GDDY -0.03 N/A 55.56% Wednesday AMC
Gulfport Engy GPOR -0.11 0.12 46.67% Wednesday AMC
Kar Auction Svc KAR 0.41 0.4 -4.55% Wednesday AMC
Nova Measuring NVMI 0.13 0.06 40.00% Wednesday AMC
One Gas Inc OGS 0.73 0.69 7.69% Wednesday AMC
Sovran Slf Stor SSS 1.28 1.13 1.57% Wednesday AMC
Tyler Tech Inc TYL 0.56 0.46 8.93% Wednesday AMC
Utd Insurance UIHC 0.37 0.55 95.65% Wednesday AMC
Valmont Inds VMI 1.4 1.62 0.00% Wednesday AMC
Arris Intl Plc ARRS 0.41 0.71 -2.00% Wednesday AMC
Jack In The Box JACK 1.03 0.93 -4.62% Wednesday AMC
Synopsys Inc SNPS 0.3 0.68 -8.82% Wednesday AMC
Keurig Green Mt GMCR 0.66 0.88 21.43% Wednesday N/A
La-Z-Boy Inc LZB 0.4 0.33 0.00% Wednesday N/A
Deutsche Boerse DBOEY 0.09 0.1 -5.83% Wednesday N/A
Hyster-Yale Mat HY 1.08 1.61 -4.48% Wednesday N/A
Univl Fst Prods UFPI 0.78 0.46 5.88% Wednesday N/A
Norsk Hydro Adr NHYDY N/A 0.11 Wednesday N/A
Koninklijke Dsm RDSMY N/A 0.14 Wednesday N/A
Boise Cascade BCC 0.24 0.4 16.67% Thursday BTO
Endurance Intl EIGI 0.31 0.25 -35.71% Thursday BTO
Transalta Corp TAC N/A 0.13 -250.00% Thursday BTO
Aarons Inc AAN 0.39 0.39 -18.75% Thursday BTO
Agios Pharmact AGIO -0.27 -0.76 -20.22% Thursday BTO
Cabelas Inc CAB 1.21 1.11 -2.74% Thursday BTO
Cra Intl Inc CRAI 0.15 0.41 -13.51% Thursday BTO
Genesis Energy GEL 0.46 0.33 -36.59% Thursday BTO
Govt Pptys Incm GOV 0.6 0.58 0.00% Thursday BTO
Hyatt Hotels Cp H 0.24 0.22 31.82% Thursday BTO
Melco Crown Ent MPEL 0.05 0.22 10.00% Thursday BTO
Higher One Hldg ONE 0.05 0.13 -22.22% Thursday BTO
Reliance Steel RS 0.82 1.01 12.62% Thursday BTO
Teekay Corp TK 0.13 0.43 -73.33% Thursday BTO
Wabtech WAB 1.05 0.95 -1.92% Thursday BTO
Columbia Pipeln CPGX 0.17 N/A 25.00% Thursday BTO
Discovery Com-A DISCA 0.46 0.43 20.51% Thursday BTO
Discovery Com-C DISCK 0.39 0.43 20.51% Thursday BTO
Duke Energy Cp DUK 0.94 0.86 -3.29% Thursday BTO
Entergy Corp ETR 1.54 0.75 -1.55% Thursday BTO
Welltower Inc HCN 1.12 1.03 1.82% Thursday BTO
Starwood Hotels HOT 0.79 0.97 2.78% Thursday BTO
Laboratory Cp LH 1.99 1.65 0.00% Thursday BTO
Nisource Inc NI 0.3 0.51 200.00% Thursday BTO
Pg&E Corp PCG 0.45 0.53 -8.70% Thursday BTO
Waste Mgmt-New WM 0.68 0.67 2.78% Thursday BTO
Wal-Mart Stores WMT 1.46 1.61 6.19% Thursday BTO
Atlas Air World AAWW 1.52 1.55 0.00% Thursday BTO
Allete Inc ALE 0.8 0.73 23.00% Thursday BTO
Banco Latinoame BLX 0.75 0.93 17.81% Thursday BTO
Cincinnati Bell CBB 0.02 -0.07 50.00% Thursday BTO
Ciber Inc CBR 0.04 0.07 -66.67% Thursday BTO
Cbiz Inc CBZ -0.05 0.08 50.00% Thursday BTO
Choice Htl Intl CHH 0.48 0.43 0.00% Thursday BTO
Cott Corp Que COT -0.02 0.37 -10.00% Thursday BTO
Columbia Pipeln CPPL 0.2 N/A 29.41% Thursday BTO
Dana Holding Cp DAN 0.36 0.53 -22.64% Thursday BTO
Denbury Res Inc DNR 0 0.27 28.57% Thursday BTO
Gold Fields-Adr GFI N/A 0.02 0.00% Thursday BTO
Triple-S Mgmt-B GTS 0.25 0.1 21.88% Thursday BTO
Huntington Ingl HII 2.3 2.19 12.44% Thursday BTO
Independc Contr ICD -0.07 0.02 44.44% Thursday BTO
Interdigitl Inc IDCC 0.72 0.36 209.09% Thursday BTO
Inteliquent Inc IQNT 0.27 0.3 4.35% Thursday BTO
Indep Realty Tr IRT 0.21 0.17 0.00% Thursday BTO
Knot Offshor Lp KNOP 0.53 0.68 4.17% Thursday BTO
Leidos Holdings LDOS 0.66 0.69 14.52% Thursday BTO
Natl Health Inv NHI 1.17 1.06 3.42% Thursday BTO
Pan Amer Silver PAAS -0.08 -0.14 45.45% Thursday BTO
Pool Corp POOL -0.01 -0.05 4.65% Thursday BTO
Six Flags Entmt SIX -0.04 -0.38 -4.09% Thursday BTO
Sodastream Intl SODA 0.17 0.35 0.00% Thursday BTO
State Auto Finl STFC 0.51 -0.46 -10.81% Thursday BTO
Syntel Inc SYNT 0.75 0.84 22.67% Thursday BTO
Teekay Tankers TNK 0.42 0.21 -14.29% Thursday BTO
Teekay Offshore TOO 0.34 0.34 -69.77% Thursday BTO
Toro Co TTC 0.59 0.54 7.69% Thursday BTO
Travelport Wwd TVPT 0.13 -0.12 31.25% Thursday BTO
Cvr Partners Lp UAN 0.17 0.34 -333.33% Thursday BTO
Ultra Petro Cp UPL -0.11 0.62 16.67% Thursday BTO
Virgin America VA 1.24 0.71 4.46% Thursday BTO
Valspar Corp VAL 0.68 0.85 3.05% Thursday BTO
Vishay Precisn VPG 0.15 0.12 63.64% Thursday BTO
West Pharm Svc WST 0.47 0.45 2.33% Thursday BTO
Scana Corp SCG 0.77 0.73 -3.12% Thursday BTO
Cvr Refining Lp CVRR -0.48 0.32 -8.74% Thursday BTO
Dish Network Cp DISH 0.12 0.88 5.00% Thursday BTO
Idacorp Inc IDA 0.64 0.69 -6.41% Thursday BTO
Lawson Products LAWS 0.04 -0.34 17.39% Thursday BTO
Mgm Resorts Int MGM 0.08 0.01 400.00% Thursday BTO
Momenta Pharma MNTA -0.1 -0.31 -131.58% Thursday BTO
Mazor Robotics MZOR -0.13 -0.18 -19.05% Thursday BTO
Primero Mining PPP -0.03 -0.03 -100.00% Thursday BTO
Gibraltar Indus ROCK 0.13 0.02 38.89% Thursday BTO
Teekay Lng Ptnr TGP 0.5 0.57 -32.00% Thursday BTO
Trend Micro Inc TMICY 0.42 0.42 -3.23% Thursday BTO
Braskem Sa BAK N/A -0.07 105.45% Thursday BTO
Discovery Com-B DISCB 0.45 0.43 17.50% Thursday BTO
Enviva Partners EVA 0.31 N/A 3.85% Thursday BTO
Flowserve Corp FLS 0.91 1.16 3.85% Thursday AMC
Nordstrom Inc JWN 1.22 1.32 -19.72% Thursday AMC
Century Alum Co CENX -0.54 0.64 -84.62% Thursday AMC
Us Ecology Inc ECOL 0.47 0.42 -23.33% Thursday AMC
Internap Netwrk INAP -0.19 -0.13 -4.35% Thursday AMC
Keysight Tech KEYS 0.41 0.44 18.97% Thursday AMC
Materion Corp MTRN 0.32 0.5 -4.76% Thursday AMC
Boston Beer Inc SAM 1.11 1.4 7.14% Thursday AMC
Consol Edison ED 0.55 0.58 -2.70% Thursday AMC
Equinix Inc EQIX 3.01 N/A -0.56% Thursday AMC
Fluor Corp-New FLR 0.93 1.41 7.08% Thursday AMC
Alliance Fiber AFOP 0.23 0.22 -44.44% Thursday AMC
Arista Networks ANET 0.51 0.43 6.67% Thursday AMC
Amer Railcar ARII 1.51 1.06 -2.13% Thursday AMC
Yamana Gold Inc AUY -0.01 -0.02 0.00% Thursday AMC
Basic Egy Svcs BAS -1.34 0.11 -7.69% Thursday AMC
Bj'S Restaurant BJRI 0.39 0.31 25.81% Thursday AMC
Calatlantic Grp CAA 0.74 0.8 -6.10% Thursday AMC
Century Communt CCS 0.62 0.34 0.00% Thursday AMC
Cedar Shopn Ctr CDR 0.14 0.13 0.00% Thursday AMC
Chefs Warehouse CHEF 0.24 0.2 16.67% Thursday AMC
Chesapeake Lodg CHSP 0.54 0.44 0.00% Thursday AMC
Americas Car-Mt CRMT 0.48 0.82 -58.57% Thursday AMC
Financial Engin FNGN 0.17 0.18 0.00% Thursday AMC
First Indl Rlty FR 0.34 0.32 0.00% Thursday AMC
Healthcare Trst HTA 0.4 0.37 0.00% Thursday AMC
Intricon Corp IIN 0.13 0.09 -23.08% Thursday AMC
Ironwood Pharma IRWD -0.17 -0.27 -25.00% Thursday AMC
Lasalle Htl Prp LHO 0.64 0.59 -2.25% Thursday AMC
Mdc Ptnrs Inc MDCA 0.29 -0.17 -188.24% Thursday AMC
Allscripts Hlth MDRX 0.1 0.08 25.00% Thursday AMC
Novatel Wireles MIFI -0.04 -0.01 -50.00% Thursday AMC
Marin Software MRIN -0.16 -0.23 20.69% Thursday AMC
Pc Mall Inc PCMI 0.11 0.16 18.18% Thursday AMC
Prothena Cp Plc PRTA -0.79 -0.48 -10.61% Thursday AMC
Rexford Ind Rty REXR 0.2 0.19 5.26% Thursday AMC
Sjw Corp SJW 0.29 0.28 -19.30% Thursday AMC
Startek Inc SRT -0.25 -0.08 -164.71% Thursday AMC
Tracon Pharmact TCON -0.62 N/A -3.92% Thursday AMC
Trinity Inds In TRN 1.07 0.86 13.91% Thursday AMC
Univl Electrs UEIC 0.85 0.7 -6.02% Thursday AMC
Encore Wire Cp WIRE 0.51 0.24 52.17% Thursday AMC
Washington Reit WRE 0.44 0.43 0.00% Thursday AMC
Appld Matls Inc AMAT 0.25 0.27 3.57% Thursday AMC
Cubesmart CUBE 0.33 0.28 6.25% Thursday AMC
Marchex Inc MCHX -0.01 -0.04 -100.00% Thursday AMC
Nmi Holdings-A NMIH -0.09 -0.17 33.33% Thursday AMC
Wageworks Inc WAGE 0.19 0.16 36.36% Thursday AMC
Yume Inc YUME -0.01 0.07 13.64% Thursday AMC
Amn Hlthcr Svcs AHS 0.41 0.21 33.33% Thursday AMC
Innerworkings INWK 0.07 0.07 22.22% Thursday AMC
Truecar Inc TRUE -0.15 -0.11 25.00% Thursday AMC
Patterson Cos. PDCO 0.67 0.55 -6.67% Thursday N/A
Quanta Services PWR 0.25 0.48 3.85% Thursday N/A
Spark New Zeald NZTCY N/A N/A Thursday N/A
Semicon Mfg-Adr SMI 0.06 0.04 100.00% Thursday N/A
Turkcell Il-Adr TKC N/A 0.23 Thursday N/A
Circor Intl CIR 0.63 1.08 4.92% Friday BTO
Ameren Corp AEE 0.18 0.19 7.63% Friday BTO
Cabot Oil & Gas COG -0.02 0.22 -50.00% Friday BTO
Deere & Co DE 0.71 1.12 45.95% Friday BTO
Public Sv Entrp PEG 0.48 0.49 1.27% Friday BTO
Pinnacle West PNW 0.27 0.05 -1.29% Friday BTO
V F Corp VFC 1.02 0.98 -4.46% Friday BTO
Barnes Grp B 0.66 0.62 -3.17% Friday BTO
Brady Corp Cl A BRC 0.22 0.29 32.14% Friday BTO
Calgon Carbon CCC 0.16 0.23 -8.00% Friday BTO
Commscope Hldg COMM 0.41 0.36 0.00% Friday BTO
Enerplus Corp ERF -0.05 0.58 -433.33% Friday BTO
Gentherm Inc THRM 0.56 0.55 31.03% Friday BTO
Crossamerica Lp CAPL 0.13 -0.6 141.67% Friday BTO
Cst Brands Inc CST 0.56 1.02 152.38% Friday BTO
Donegal Grp -A DGICA 0.38 0.15 -33.33% Friday BTO
Aegon N V AEG N/A 0.24 Friday N/A
Allianz Ag-Adr AZSEY 0.35 0.31 -8.33% Friday N/A
James Hardi-Adr JHX N/A 0.11 Friday N/A


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