The earnings surprise sent the stock prices of the partners that make up the conglomerate lower in London.

"Very few stocks are making much progress on positive earnings surprises," he said.

Most earnings surprises in recent years have been on the downside.

"The ability to anticipate where the risk of earnings surprise is greatest should help performance."

And the median for positive earnings surprises was 7.7 percent.

The changes were based mainly on expectations of negative short-term earnings surprises.

Let's say two companies each report positive earnings surprises of $1 a share.

The greater range of forecasts will balance the rise in earnings surprises.

That could lead to more earnings surprises, increasing the chances for an abrupt move in the stock.

And investors could be even happier today because they will actually have a positive earnings surprise.