[Wine] Albert Arfania
overstock at gmail.com
overstock at gmail.com
Thu Nov 9 13:56:57 CST 2006
Hi,
This is Albert Arfania. You had asked me about an article I received on
corporate earnings. The article I received is as follows:
10/27/2006
Earnings seasonâs been a smash so far
By Matt Krantz, USA Today
Wall Street expected corporate earnings reporting season to be good. Just
not this good.
More than half of Standard & Poorâs 500 companies have reported results, and
third-quarter profit growth from a year earlier is running at 17.6%, S&P
says. Thatâs even better than the 14% growth expected, thanks to the fact
that nearly three-quarters of companies have beaten estimates.
âItâs been a really good earnings season,â says Ashwani Kaul of Reuters
Estimates, adding companies that topped estimates have done so by 5.8%,
nearly twice the margin they normally do. âYou canât really complain too
much.â
Meanwhile, solid news kept pouring in Thursday from companies including
ExxonMobil and Microsoft. Now, it appears almost certain that this will be
a record 18th quarter in a row of double-digit growth.
The blowout earnings are a big reason stocks are starting to experience a
breakout. Thursday, the Dow Jones industrials rose 28.98 points to
12,163.66 â the fourth-consecutive high and 13th record in less than a
month. âIf earnings were disappointing, the market would not be doing as
well,â says Rod Smyth of Wachovia Securities.
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