Qualcomm Moderated Thread - please read rules before posting Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 180.74

-0.1%

Nov 3 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ramsey Su who started this subject	9/19/2002 4:38:09 PM
From: foundation	of 196428

European co. profit forecasts continue to fall Reuters, Sep 19 2002 By William Kemble-Diaz LONDON, Sept 19 (Reuters) - The slump in analysts' earnings expectations for European companies has shown no let-up in recent weeks, confirming the market's worst fears that 2002 could mark a second straight year of losses. "Another negative year is very possible, given the acceleration we're seeing in downward revisions and what is left of growth," said Jacques Chahine, chairman of the Paris- based JCF Group. That would suggest the market is not anticipating a proper pickup in profits until 2003. JCF collates and analyses the company profit forecasts churned out by the investment banking industry. Its findings show that analysts have matched their expectations since April, when recovery hopes peaked. According to JCF data, which is calculated on a pre- goodwill basis, consensus 2002 earnings growth expectations for the 600 European companies in the benchmark Stoxx index <.STOXX> have now tumbled to 8.2 percent from a high of 17.4 percent in April. The data are even more startling if analysts' forecasts that have not been adjusted to reflect a company's latest trading statement or results are factored out. On a so-called 'post-event' basis, consensus earnings expectations for European blue chips are now down to just 6.0 percent. "I feel pretty sure that that's where we will be in a few weeks time," Chahine said. Europe's insurance sector has endured the biggest downward revision in 2002 earnings expectations in recent weeks, slumping by more than a quarter to 34.9 percent in September. In post-event terms, that comes down to just 14 percent, Chahine said. But also feeling the pinch are the region's technology companies, which were hit by another 16.5 percent downward adjustment in earnings forecasts this month. Analysts are now about two-thirds less optimistic about technology company prospects than they were at the start of the year. industryclick.com ========== <g>

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next