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(Clarusvisus/Getty Images/iStockphoto)

Cable and drug retailing stocks save U.S. earnings season

The U.S. earnings season is more than 80 per cent complete and while the aggregate 3.8 per cent profit growth is uninspiring, the quarter was saved by two sectors that get little attention – broadcasting and drug retailing.

The majority of the major U.S. market sectors posted year over year earnings growth clustered around 6 per cent. The oil and gas sector’s profit decline of 10.8 per cent was the outlier, along with the barely positive results from the broad health care sector.