Investors already fretting about the health of the world's
biggest economies now face another worry: disappointing earnings, according to
a WSJ report.
Companies begin reporting second-quarter earnings this week,
starting with Alcoa Inc. on Monday. Already, 42 companies—including Ford Motor
Co. and Texas Instruments Inc.—have warned investors that profits will be lower
than initially expected, in large part because of slowing demand from customers
around the world, particularly in Europe.
Analysts say the darkening outlook is only partly baked into
current share prices. Adam Parker, Morgan Stanley's chief stock strategist,
predicts Standard & Poor's 500-stock index will finish the year at 1167,
about 14% below….
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