Industrial stocks fell sharply in the second quarter, and while stocks fell even more, fundamentals remained solid. Investors chose to shoot first and ask questions later.
Industrial stocks have performed in line with these declines. The more than 150 industrial stocks in the Russell 1000 index returned an average of about 15%, while fewer than 10 rose.
Most of these stocks fell as earnings expectations rose. The decline in stocks is often much larger than the decline in overall earnings expectations. The average estimate revision for the sector is about 2%.
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