Wall Street has made it nearly halfway through the second-quarter earnings season after waves upon waves of reports in recent days.
But even with half of S&P 500 companies having reported, a clear picture of the earnings season remains murky.
"It is a very mixed picture right here with earnings," said Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust, in an interview at the New York Stock Exchange on Thursday.
That was illustrated clearly on Thursday with tech companies including Facebook (FB - Get Report) and Groupon (GRPN - Get Report) posting positive quarters, while automaker and industry giant Ford (F - Get Report) floundered.
"The main takeaway is that there are some main companies that are pulling away just like Secretariat and that's Facebook," added Cramer.
Blended quarterly earnings are expected to decline 3% this quarter, the fifth quarterly decline in a row and the longest losing streak since the financial crisis. Analysts expected that heading into the season though, slashing both earnings and revenue estimates. So far, 72% of those companies which have reported this season have exceeded earnings estimates.
Major S&P 500 companies have yet to release their quarterly earnings. In the upcoming week, key earnings to watch include AIG (AIG - Get Report) , Fitbit (FIT - Get Report) , Pfizer (PFE - Get Report) , Seagate (STX - Get Report) , Time Warner (TWX) , Twenty-First Century Fox (FOXA) , Kellogg (K - Get Report) , LinkedIn (LNKD) and Priceline (PCLN) .