Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SJS who wrote (17346)	3/31/1998 3:26:00 PM
From: RealMuLan	Read Replies (1) of 95453

<<PS: got any ideas why the dow is headed down real fast...??? Maybe has something to do with this news? First Call cuts S&P500 Q1 profit growth to 0.7 pct Tuesday March 31, 2:57 pm Eastern Time NEW YORK, March 31 (Reuters) - First Call said its first quarter earnings growth forecast for the S&P500 companies has been cut to 0.7 percent over the same quarter last year. ''This is the lowest we have seen probably since 1990,'' said Chuck Hill, First Call's director of research. The forecast has been steadily cut back from above 10 percent at the start of January. The second quarter growth forecast has been lowered to 6.7 percent from 12.9 percent in early January. The forecast for 1998 as a whole is for growth of 9.7 percent compared with about 10.5 to 11 percent in 1997. S&P500 earnings in the fourth quarter of last year grew by about 8.5 percent, First Call said.

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