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Robert Kavcic of BMO Capital Markets says Q3 US earnings season is almost over, with overall results similar to that seen in Q2. Right now, 76% of S&P 500 companies have beaten earnings estimates, while 61% have beaten on revenue, he says. The Q3 results is just a tad below the 81% that beat estimates in Q2. US corporate balance sheets remain cash rich, with liquid assets rising to "the highest level since the mid 1950s relative to short-term liabilities in Q3," Kavcic says.
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