Anti Lemming : Gewinnwachstum beim SP-500 nur noch einstellig
Wie schnell und zügig es weiter abwärts gehen kann, zeigt die letzte US-Rezession (Dez. 2000 bis März 2001, siehe Chart unten).
Barry Ritholtz Blog
Q4 Earnings Drop Below 10%
With 362 S&P500 companies reporting Q4 earnings, year over year growth is now 9.3%.
An interesting take on this how earnigns are being reported as the Quarter progresses. Birinyi Associates notes that "last quarter, earnings growth steadily climbed to 22.8% as more and more companies reported. This quarter, however, the number has steadily declined since early January."
From today's FT:
"The percentage of US companies failing to meet Wall Street's earnings expectations has reached the highest level in more than two years, fuelling fears that corporate America's record run of profit growth will come to an abrupt end.
Concerns of a slowdown in corporate profitability ? one of the key reasons for the stock market's record-breaking streak ? have been heightened by companies' increasingly bearish outlook on business prospects.
More than 22 per cent of the 400-plus S&P 500 companies to have reported results for the fourth quarter of 2006 failed to meet Wall Street expectations. This is the highest level of "misses" since the third quarter of 2004, according to Reuters Estimates.
The spike in earnings disappointments increases the chances that corporate America will end a three-and-a-half year run of quarterly double-digit profit growth in the last quarter of 2006 rather than at the beginning of 2007, as widely expected."
US slowdown looms as groups miss targets
FT 1:40 a.m. ET Feb 12, 2007
Chart courtesy of Birinyi Associates