Made illegal in the 1930s, pump and dump schemes were prevalent again in the 1990s and were a core theme in the film Wolf of Wall Street, based on the corrupted trading life of New York broker Jordan Belfort. Photo: AFP/Bryan R. Smith
Made illegal in the 1930s, pump and dump schemes were prevalent again in the 1990s and were a core theme in the film Wolf of Wall Street, based on the corrupted trading life of New York broker Jordan Belfort. Photo: AFP/Bryan R. Smith

FactSet reports Monday that, with 57% of companies reporting already in for Q2 earnings and sales, S&P 500 firms are on pace to top the record number of firms beating expectations.

73% have reported sales above estimates, versus 56% over the past year and 53% over the past five years. Since FactSet began tracking the data in 2008, the highest full quarter percentage of firms reporting sales above estimates was 72% in 2011.

Sector-level leaders:

Telecom Services (100%), Energy (88%), Materials (85%), and Information Technology (84%) sectors posted the highest percentages of companies reporting revenues above estimates so far in the quarter.