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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bill Ounce who wrote (52352)	7/20/2001 10:24:15 AM
From: Bill Ounce	Read Replies (1) of 94695

USA Today -- "This is a disaster" usatoday.com Earnings this quarter turn out drearier than last By Matt Krantz, USA TODAY Investors who think earnings can't get any worse may be in for a nasty surprise. [...] Earnings are down 17.9% on average from a year earlier, based on the results of 217 of Standard & Poor's 500 companies, Thomson Financial/First Call says. That's much more severe than the first quarter's 6.1% drop. The numbers are especially startling considering that earnings haven't dropped two consecutive the 1990-91 recession. [...] "There's nothing holding these stocks up," says Scott Black, president of Delphi Management, adding that weak corporate earnings prove that the economy is in a recession. "This is a disaster," he says. [...]

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