Ripping past earnings estimates is what companies are supposed to do when they report profit. But in some cases, analysts can't wait that long.  There are eight companies in the Standard & Poor's 500, including energy firm EOG Resources (EOG), solar equipment maker First Solar (FSLR) and oil explorer Newfield Exploration (NFX) where analysts have dramatically boosted their forecasts for second-quarter profit over the past month – even before the companies have reported profits, according to a USA TODAY analysis of data from S&P Capital IQ. Each of these companies are now expected to earn 15% or more than they were just a month ago.  Investors are all but counting on some big earnings beats during the first quarter. Wall Street analysts currently expect S&P 500 companies to report 3.4% lower earnings in the quarter – but investors are secretly hoping for much more. So far, being optimistic is paying off. Of the 61 S&P 500 companies to report second-quarter profit at this point, 43 have beaten expectations, 4 have matched and just 14 have missed, says S&P Capital IQ. It's still early in the earnings reporting season, but the fact 70% of companies have topped views is certainly a good sign.  More from The USA TodayApple investors are counting on more magic Futures mixed as U.S. company earnings released PayPal already pays off for investors  Energy earnings are the key point of pain for the market. Analysts expect energy sector earnings to drop 60% from the same period last year. That makes it the worst performing sector of the S&P 500.
These companies ranging from energy, solar and oil have seen boosts from analysts forecasts even before reporting earnings, USA Today reports.