American CEOs Most Bearish on Earnings Since 2008 Crisis
Drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota.
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U.S. chief executive officers are more pessimistic about corporate earnings than any time since the financial crisis, according to research from Bespoke Investment Group LLC.
The percentage of companies cutting profit forecasts during this earnings season has outpaced those with upward revisions by 8.6 percentage points, the widest margin in six years, according to data compiled by Bespoke. Consumer companies and drugmakers are the most bearish among 10 major industries, with at least 18 percent of each group providing lower guidance, the data show.