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.
Predictions:
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