Salient to Investors:
Europe’s debt crisis is pressuring global earnings.
Analysts predict S&P 500 companies will report a 1.1 percent average drop in Q2 earnings, the first decline in 11 quarters and after a 6.2 percent average increase in Q1. A stronger dollar threatens earnings as U.S. exports become more expensive.
Tim Ghriskey at Solaris Group doesn’t expect favorable corporate outlooks given Europe and slowing growth in the U.S. and China.
Mark Luschini at Janney Montgomery Scott said Philip Morris is a canary in the coal mine for many companies who will use currencies as an excuse for declining profit.
Read the full article at http://www.bloomberg.com/news/2012-06-24/euro-crisis-hits-profits-globally-as-p-g-cuts-forecast.html