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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (2971)	11/4/2001 2:54:56 PM
From: LTK007	Read Replies (1) \| Respond to of 99280

a much darker view from BW,page 44 11/5 issue <<September 11 changed all that. The economy plunged into a full-blown recession--and already weak corporate profits have gone into a broad free fall. How bad is it? BusinessWeek's flash-profits survey of 124 bellwether companies showed a 54% slide in third-quarter profits--the sharpest quarterly decline recorded in BusinessWeek profit surveys in more than a quarter-century. ``DEEPER AND LONGER.'' Things are likely to get worse before they get better. Given the sharp drop-off in consumer confidence , most Wall Street forecasters have grown more pessimistic. Not only do they see fourth-quarter profits falling 20% more but it may take until third quarter 2002 before the economy recovers and profits start to head up again. Some companies, including Boeing Co., are warning that the start of their recoveries could be pushed into 2003. ``It now looks like the profits recession will be deeper and longer than we anticipated,'' says Edward Yardeni, chief investment strategist for Deutsche Banc Alex. Brown.>> this is major shift for Yardeni--max