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Don't get me wrong, I'm not talking about the stock market, I'm talking about the earnings growth of Corporate America.
According to a chart published on BespokeInvest.com a month ago, analysts had a gloomy expectation entering this ER season. Usually this is a hotbed for upside surprises and spikes of stock prices.
Every ER season is a reality check. So what's the reality for this one? Quoting from this weekend's Barron's:
"The pivot came about midday Thursday, shortly after Google (ticker: GOOG) reported weaker-than-expected third-quarter earnings. Until then, the market had been able to withstand soft results from other companies. However, figures from the search-engine giant—erroneously released earlier than scheduled—seemed to mark the tipping point. Last week, others disappointing either on earnings or on revenue expectations included General Electric (GE), Microsoft (MSFT), Intel (INTC), McDonald's (MCD), and IBM (IBM)."
The reality is even worse than downward-adjusted expectation, which spells DISASTER! And as a side-note, check out here.
The punch line? Although I was not talking about the stock market, earnings are highly correlated with price. |
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狗仔卡
发表于 2012-10-20 02:30 PM
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变色卡
发表于 2012-10-20 02:53 PM
