EFTA Document EFTA01459628

8 February 2016 US Equity Insights 4Q EPS Tracker ("In defense of Banks," starts on page 9) 317 S&P 500 companies comprising 79% of S&P earnings have reported. 59% of companies beat on EPS with a weighted average beat of 1.3% (2.1% ex Energy, 3.6% ex Energy & Fin). 33% of companies beat on sales with a weighted average miss of - 0.4% (-0.5% ex Energy, -0.6% ex Energy & Fin). Banks reported decent EPS growth on cost cuts and less litigation, but slow revenue growth. Higher credit costs and