Salient to Investors:
Robbert Van Batenburg at Newedge Group said:
- The number of S&P 500 companies that have lowered their quarterly forecasts is at an all-time high, bringing the projected growth rate dangerously close to zero.
- The brutal US winter is not the only reason for a projected lackluster earnings season because EPS estimates declines have been indiscriminate and across sectors. For example Cliffs Natural Resources, a miner, and Carnival, a cruise operator, have shown the biggest declines in earnings estimates and it does not snow in mines or on tropical cruises.
Read the full article at http://www.bloomberg.com/news/2014-04-10/stock-market-tango-of-price-earnings-has-two-left-feet.html
Click here to receive free and immediate email alerts of the latest forecasts.