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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: andiron who wrote (81097)7/7/2008 8:06:33 AM
From: elmatador  Read Replies (1) of 116555
 
Pray for emerging markets! Big U.S. industrial companies with global reach—like Caterpillar, United Technologies (UTX), 3M (MMM), General Electric (GE), and Honeywell (HON)—start reporting second-quarter earnings in mid-July. Rockwell and OshKosh are tiny compared with those giants, but their profit warnings amount to a troubling omen.

Costs of energy, raw materials, and shipping had already skyrocketed, and now "evidence is starting to unfold of slower international markets," says Longbow Research analyst Eli Lustgarten. If demand weakens, it becomes harder to raise prices to cover higher costs. Plus, while the weak U.S. dollar has boosted overseas profits in recent quarters, there is evidence that direct currency benefit could disappear by the end of the year as the dollar stabilizes, Lustgarten says.

businessweek.com
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