With the second quarter almost over, what companies earned is anyone’s guess


A man in a surgical mask walks by the New York Stock Exchange (NYSE) after more cases of coronavirus were confirmed in New York City, New York, U.S., March 10, 2020.

Andrew Kelly | Reuters

Next week brings an end, mercifully, to the first half of 2020.

That’s the good news. The bad news: Wall Street is as clueless as it has ever been on what earnings will look like.

I’m not talking about the third and fourth quarter. The second quarter is nearly over, and analysts still are clueless about what earnings companies will be reporting.

And it’s likely the confusion will continue into the second half of the year.

A quarter of extremes in earnings estimates

With 40% of the S&P 500 companies declining…


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