CORPORATE BEIGE BOOK: Upbeat as Expected
The LPL Research Corporate Beige Book Barometer — our measure of corporate sentiment that reflects an analysis of earnings conference call transcripts — shows that companies remained generally upbeat during the second quarter earnings season. This is hardly a surprising outcome, given actual earnings results were very good and estimates of future earnings held up relatively well as companies provided forward-looking guidance. Earnings call transcripts analyzed took place starting in mid-July extending through the third week of August.
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