The Earnings Season

The earnings season for the last quarter of 2008 is drawing to a close, and, as expected, the results were not pretty.  After the worst January in history, S&P 500 is down 8.5% so far in 2009, on top of terrible losses in 2008.  Unlike 2008, however, where the carnage was spread across all sectors, 2009 presents a different picture.  About a third of S&P 500 companies, specifically in technology and healthcare sectors, are actually up for the year.  Financial sector, meanwhile, continues its steep slide.  In any event, such disparity in performance presents some opportunities for stock pickers.

Here are some of the companies that I track that gave upside earnings surprise and provided higher guidance going forward:  Akamai (AKAM), Buffalo Wild Wings (BWLD), Blackboard (BBBB), Dolby Labs (DLB), Nuance Communications (NUAN), and Netflix (NFLX).