NEW YORK (TheStreet) -- So far the first-quarter earnings season has not been easy for investors as negative reactions among the companies we profiled outnumbered positive reactions when looking at double-digit gains vs. double-digit loses since mid-April. (On Friday we will look at the losers.)
When preparing the "crunching the numbers" tables we observed the number of downward revisions to analysts' earnings per share estimates seemed to outnumber upward revisions by approximately two to one.
Many stocks had double-digit gains or losses before reporting their quarterly results while the major equity averages had slight gains or losses.
The Dow Jones Industrial Average set an all-time intraday high at 16631.63 on April 4 and ended April fractionally higher for the year to date.
The S&P 500 set an all-time intraday high at 1897.28 on April 4 and ended April up just 1.9% YTD.
The Nasdaq set a multiyear intraday high at 4371.71 on March 7 and ended April down just 1.5% YTD.
The Dow Transportation Average set an all-time intraday high at 7774.58 on April 23 and ended April up 3.7% YTD.
The Russell 2000 set an all-time intraday high at 1212.82 on March 4 and ended April down 3.2% YTD.
The Dow Utility Average set an all-time high at 558.29 on April 30 and ended April up 12.8%, which is the biggest surprise for Wall Street strategists as many told investors to avoid utilities. What's interesting to note is the utility average set its 2013 high on April 30 and at that time was the best performing index year-to-date.