Look out below for bad earnings news
[TIMMMMMMBERRRRRR!]
Monday, June 25, 2001
Corporate America is fast approaching a forgettable milestone: More than 1,000 U.S. companies are expected to issue negative earnings preannounce ments for the
second quarter.
The first quarter's record of 935 negative pre announcements easily could be smashed, as companies realize that economic conditions deteriorated more sharply than
they had anticipated. Many companies continue to ratchet down their expectations, and some of them already have issued second and third warnings about the latest
quarter.
So far, out of 825 companies that have pre announced, 538, or 65 percent, said they will miss earnings numbers.
-- Dow Jones News Service
''What the Fed is doing is helping to keep the U.S. consumer spending, but that will not result in growth. It is just keeping things from coming apart in terms of a
real contraction.''
-- David Webb, executive vice president at Shaker Investments in Cleveland
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