Earnings season is like X Factor for the City stars

TWO important events have collided this autumn: X Factor and earnings season. So I've cast myself as CNBC&rsquo;s Cheryl Cole. I&rsquo;m not half as glam as Mrs Cole. I&rsquo;m a foot taller and decidedly more pregnant, but I&rsquo;m going to roll with it and leave my colleagues to argue over who wants to be Dannii, Louis and Simon.<br /><br />Live on-air at CNBC we analyse the latest performances from the world&rsquo;s biggest companies and debate their talents. And already the categories are coming together rather nicely.<br /><br />X Factor aficionados will know this year it's all about &ldquo;the over 25&rsquo;s&rdquo; versus &ldquo;the girls&rdquo;, with the &ldquo;over 25&rsquo;s&rdquo; odds-on favourite. Similarly in &ldquo;EPS-Factor&rdquo;, the banks and tech stocks are battling it out for top position.<br /><br />JP Morgan Chase took an early lead. Its exposure to capital markets helped the company storm past expectations and take global equity markets with it. The Dow powered above the 10,000 level for the first time in over a year and the rest of the world duly followed. Then came Citigroup, hobbled by a few dud notes in its troublesome consumer banking business, it still managed to beat expectations. Goldman Sachs leapt onto the stage with a pitch-perfect performance, with profits up more than four-fold and a bountiful bonus pot.<br /><br />The other strong category is technology. After a strong recovery for the Nasdaq in recent months. Earnings from the likes of Philips and Intel didn&rsquo;t disappoint, but it was Google&rsquo;s showmanship and ambitious plans that blew us away.<br /><br />Not satisfied with beating expectations, Google announced plans to make a major acquisition ever year or two. The votes poured in with upgrades and price target hikes from Citigroup, Bernstein and Collins Stewart within hours. <br /><br /><strong>EARNINGS FOR Q3AREDOGGONEGOOD</strong><br />So far so good &ndash; the early rounds of Q3 earnings are over with little sign of corporate Armageddon. But there&rsquo;s still some way to go and a tonne of stimulus and artificially low interest rate policy out there to send us off-key next year.<br /><br />I&rsquo;m not sure who to trust when it comes to selecting winners in the equity markets. For X Factor top picks though, I turn to our Great Dane puppy.<br />When Danyl Johnson sings, Lars rests his droopy jowls on the sofa and gazes adoringly at the TV. I must admit I do vote on his behalf. If Danyl wins X Factor I&rsquo;m going to turn to the puppy for advice on January&rsquo;s earnings.<br /><br />Rebecca Meehan co-anchors Capital Connection and is a presenter on Squawk Box Europe, each weekday on CNBC.