- Industrial conglomerate Textron (TXT) posted solid profit margins, thanks to still-strong results at its Bell Helicopter division. But the Textron's Cessna plane division is struggling for new customers, and quarterly results may weaken in coming quarters.
- Knight Capital (KCG) strongly benefited from the stock market volatility in July and August, which created wide bid/ask spreads in its market-making business. Volatility dropped in September and the current quarter is unlikely to deliver the same upside surprise.
- Cytec Industries (CYT), which makes a range of industrial paints and resins, saw robust demand last quarter, but has already seen business slow more recently and is hunkering down for a period of upcoming softness by closing a key plant in Brazil.
Another theme for many of these "estimate-beaters" is that the strong results may not last. For example: