Stock Market Briefing: S&P Sectors & Industries Forward Profit Margins Yardeni Research, Inc. November 21, 21 Dr. Edward Yardeni 1-972-73 eyardeni@ Joe Abbott 732-97-3 jabbott@ Mali Quintana --1333 aquintana@" Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents S&P Forward Profit Margins S&P Sectors Forward Profit Margins 3- Consumer Discretionary - Consumer Staples 7 Energy Financials 9- Health Care 11 Industrials -13 Information Technology 1 Materials 1-1 Telecommunication Services & Utilities 17 November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Margins Yardeni Research, Inc. www.
2 1 Figure 1. S&P Sectors Forward Profit Margins CONSUMER DISCRETIONARY Forward Profit Margin Sector (7.) S&P (.7) 7 9 11 13 1 1 1 17 1 INDUSTRIALS (9.1) 7 9 11 13 1 1 1 17 1 CONSUMER STAPLES INFORMATION TECHNOLOGY 2 2 (.9) (2.2) 1 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1 1 ENERGY MATERIALS (.3) (.1) 2 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1 2 FINANCIALS TELECOMMUNICATIONS SERVICES 1 1 (1.7) (11.) 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1 11 HEALTH CARE UTILITIES 9 7 (.) 7 9 11 13 1 1 1 17 1 (.7) 7 9 11 13 1 1 1 17 1 Page 3 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
S&P Sectors Forward Profit Margins 11 9 7 3 Figure 2. CONSUMER DISCRETIONARY (S&P profit margin 1 by sector, percent) 17 Annual Forward* (7.) 1 INDUSTRIALS 1 17 (9.1) 1 1 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1 7. 7. CONSUMER STAPLES 17 1 1 INFORMATION TECHNOLOGY 1 17 1 2 2.. (.9) (2.2) 1. 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1 1 ENERGY MATERIALS 1 17 1 9 3 (.3) 1 17 1 (.1) 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1 2 1 FINANCIALS 1 17 1 TELECOMMUNICATION SERVICES 1 17 1 1 (1.7) (11.) 7 9 11 13 1 1 1 17 1 7 9 11 13 1 1 1 17 1. 11. 11.. HEALTH CARE (.) 1 17 1 UTILITIES 1 17 1 11. 9. 7 9 11 13 1 1 1 17 1 (.7) 7 9 11 13 1 1 1 17 1 9 * Time-weighted average of the consensus estimates for current and next year. Page / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
1 Figure 3. Consumer Discretionary S&P FORWARD PROFIT MARGINS: CONSUMER DISCRETIONARY 1 - - Consumer Discretionary Sector (7.) Advertising (7.) Automobile Manufacturers (.1) Auto Parts & Equipment (9.) Publishing (2.) 2 27 2 29 2 211 2 213 21 21 21 217 21 - - 2 2 1 Figure. S&P FORWARD PROFIT MARGINS: CONSUMER DISCRETIONARY Consumer Discretionary Sector (7.) Casinos & Gaming (.2) Movies & Entertainment (1.) Hotels, Resorts & Cruise Lines (11.1) Restaurants (1.) 2 2 1 2 27 2 29 2 211 2 213 21 21 21 217 21 Page / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
Figure. Consumer Discretionary S&P FORWARD PROFIT MARGINS: CONSUMER DISCRETIONARY 2 Consumer Discretionary Sector (7.) Apparel Retail (7.) Department Stores (.) Specialty Stores (.9) 2 27 2 29 2 211 2 213 21 21 21 217 21 2 Figure. S&P FORWARD PROFIT MARGINS: CONSUMER DISCRETIONARY Consumer Discretionary Sector (7.) Computer & Electronics Retail (2.7) Home Improvement Retail (7.) Homebuilding (7.3) Household Appliances (.) 2 Margins capped at 2% due to extreme values. 2 2 27 2 29 2 211 2 213 21 21 21 217 21 Page / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
1 1 Figure 7. Consumer Staples S&P FORWARD PROFIT MARGINS: CONSUMER STAPLES 1 1 1 1 Consumer Staples Sector (.9) Household Products (1.2) Packaged Foods & Meats (.2) Personal Products (7.) 2 27 2 29 2 211 2 213 21 21 21 217 21 3 3 2 Figure. S&P FORWARD PROFIT MARGINS: CONSUMER STAPLES Consumer Staples Sector (.9) Brewers (.7) Drug Retail (3.) Soft Drinks (1.7) Tobacco (29.2) 3 3 2 2 2 1 1 2 27 2 29 2 211 2 213 21 21 21 217 21 Page 7 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
1 Figure 9. S&P FORWARD PROFIT MARGINS: ENERGY Energy Energy Sector (.3) Integrated Oil & Gas (.) Oil & Gas Refining & Marketing (2.) 1 2 2 2 27 2 29 2 211 2 213 21 21 21 217 21 3 Figure. S&P FORWARD PROFIT MARGINS: ENERGY Energy Sector (.3) Oil & Gas Drilling (-.1) Oil & Gas Equipment & Services (.9) Oil & Gas Exploration & Production (1.7) 3 2 2-2 27 2 29 2 211 2 213 21 21 21 217 21 - Page / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
3 3 Figure 11. Financials S&P FORWARD PROFIT MARGINS: FINANCIALS 3 3 2 2 2 2 1 1 Financials Sector (1.7) Consumer Finance (17.) Diversified Banks (21.) Regional Banks (22.1) - 2 27 2 29 2 211 2 213 21 21 21 217 21-3 Figure. S&P FORWARD PROFIT MARGINS: FINANCIALS 3 3 3 2 2 2 2 1 Financials Sector (1.7) Asset Management & Custody Banks (21.9) Investment Banking & Brokerage(2.2) Specialized Finance (32.) 2 27 2 29 2 211 2 213 21 21 21 217 21 1 Page 9 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
2 Figure 13. Financials S&P FORWARD PROFIT MARGINS: FINANCIALS 2 1 1 Financials Sector (1.7) Insurance Brokers (13.7) Life & Health Insurance (9.7) Multi-Line Insurance (9.7) Property & Casaulty Insurance (9.) 2 27 2 29 2 211 2 213 21 21 21 217 21 Page / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
3 Figure 1. S&P FORWARD PROFIT MARGINS: HEALTH CARE Health Care Sector (.) Biotechnology (39.) Health Care Equipment (1.7) Managed Health Care (.) Health Care 3 2 2 2 27 2 29 2 211 2 213 21 21 21 217 21 3 2 Figure 1. S&P FORWARD PROFIT MARGINS: HEALTH CARE 3 2 2 2 Health Care Sector (.) 1 Health Care Facilities (.) Pharmaceuticals (2.) Health Care Distributors (1.) 1-2 27 2 29 2 211 2 213 21 21 21 217 21 - Page 11 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
1 Figure 1. Industrials S&P FORWARD PROFIT MARGINS: INDUSTRIALS 1 Industrials Sector (9.1) Construction Machinery & Heavy Trucks (.3) Industrial Conglomerates (13.2) Industrial Machinery (.) 2 27 2 29 2 211 2 213 21 21 21 217 21 11 Figure 17. S&P FORWARD PROFIT MARGINS: INDUSTRIALS 11 9 9 7 2 27 2 29 2 211 2 213 21 21 21 217 21 Industrials Sector (9.1) Aerospace & Defense (7.7) Electrical Components & Equipment (11.) 7 Page / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
2 Figure 1. Industrials S&P FORWARD PROFIT MARGINS: INDUSTRIALS 2 2 1 Industrials Sector (9.1) Air Freight & Logistics(.) Airlines (.) Railroads (19.) Trucking (.) 2 1 2 27 2 29 2 211 2 213 21 21 21 217 21 Page 13 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
3 3 Figure 19. Information Technology S&P FORWARD PROFIT MARGINS: INFORMATION TECHNOLOGY 3 3 2 2 2 2 1 1 Information Technology Sector (2.2) Application Software (17.) Data Processing & Outsourcing (19.9) IT Consulting & Other Services (1.) Systems Software (2.) - 2 27 2 29 2 211 2 213 21 21 21 217 21-3 2 Figure 2. S&P FORWARD PROFIT MARGINS: INFORMATION TECHNOLOGY 3 2 2 2 1 1 Information Technology Sector (2.2) Communications Equipment (21.) Semiconductors (23.3) Semiconductor Equipment (2.) Technology Hardware, Storage & Peripherals (1.) - 2 27 2 29 2 211 2 213 21 21 21 217 21 - Page 1 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
1 Figure 21. Materials S&P FORWARD PROFIT MARGINS: MATERIALS 1 - Materials Sector (.1) Paper Products (.) Steel (.) 2 27 2 29 2 211 2 213 21 21 21 217 21-2 Figure 22. S&P FORWARD PROFIT MARGINS: MATERIALS 2 2 2 1 1 Materials Sector (.1) Diversified Chemicals (.3) Fertilizers & Agricultural Chemicals (.) Industrial Gases (1.2) Specialty Chemicals (11.2) 2 27 2 29 2 211 2 213 21 21 21 217 21 Page 1 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
3 Figure 23. Materials S&P FORWARD PROFIT MARGINS: MATERIALS 3 2 2 Materials Sector (.1) Gold (13.) Metal & Glass Containers (.) Diversified Metals & Mining (7.) Paper Packaging (.) 2 2 1 1 2 27 2 29 2 211 2 213 21 21 21 217 21 Page 1 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
13 Figure 2. Telecommunication Services & Utilities S&P FORWARD PROFIT MARGINS: TELECOMMUNICATION SERVICES 13 11 Telecommunication Services Sector (11.) Integrated Telecommunication (11.1) 11 9 9 7 7 2 27 2 29 2 211 2 213 21 21 21 217 21 1 1 Figure 2. S&P FORWARD PROFIT MARGINS: UTILITIES Utilities Sector (.7) Electric Utilities (11.) Gas Utilities (.2) Independent Power Producers & Energy Traders (3.1) Multi-Utilities (11.) 1 1 2 2 27 2 29 2 211 2 213 21 21 21 217 21 2 Page 17 / November 21, 21 / Stock Market Briefing: S&P Sectors & Industries Forward Profit Yardeni Margins Research, Inc. www.
Copyright (c) Yardeni Research, Inc. 21. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, or correctness of the information and opinions contained herein. The views and the other information provided are subject to change without notice. All reports posted on www., blog., http://blog. and YRI s Apps for ipads and iphones are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company s stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed on any Yardeni Research, Inc. product, service, report, email or website are proprietary to Yardeni Research, Inc. and constitute valuable intellectual property. No material from any part of www., blog., http://blog. and YRI s Apps for ipads and iphones may be downloaded, transmitted, broadcast, transferred, assigned, reproduced or in any other way used or otherwise disseminated in any form to any person or entity, without the explicit written consent of Yardeni Research, Inc. All unauthorized reproduction or other use of material from Yardeni Research, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Yardeni Research, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Yardeni Research, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights. The recipient should check any email and any attachments for the presence of viruses. Yardeni Research, Inc. accepts no liability for any damage caused by any virus transmitted by this company s emails, website, blog and Apps. Additional information available on request. requests@