BALTIMORE ( Stockpickr) -- Spain's continued drama is gut-punching Mr. Market this morning - and taking some of the attention off corporate that have handily bested Wall Street's expectations so far this earnings season.Of the 121 S&P 500 stocks that have announced earnings this week, for instance, approximately 90% have overshot Wall Street's estimates on profits. That tells us that investors have been way off base this earnings season -- and that stocks could have more upside ahead of them if market prices are to stay line with the values investors can find right now. Based on price and earnings, the S&P is already discounted more than 20% versus where it was just a year ago.
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