[Citi strategist: Technology stocks will drive U.S. corporate earnings to exceed expectations] On October 8, Citi strategists said that driven by technology stocks, the proportion of U.S. companies with earnings exceeding expectations in the third quarter is expected to be higher than in the second quarter. The team, led by Richard Schlatter and David Zhou, said its model predicts that 66.2% of Russell 1000 stocks will beat earnings estimates, compared with 60.9% in the second quarter. The technology sector may be the largest contributor, exceeding expectations by more than 88%; followed by the healthcare sector (76%) and the industrial sector (74%). Strategists believe the earnings benefits will be concentrated among large-cap stocks. Analysts predict that third-quarter earnings of S&P 500 constituent stocks will increase by about 30% year-on-year, driven by higher profit forecasts for the energy and technology sectors.