Profits Look Great. Just Don't Look Too Far
A glance at corporate profits in the third quarter suggests that the good times just keep on rolling: After two consecutive quarters of 20%-plus growth, BUSINESS WEEK's flash profits survey of 114 bellwether companies showed another 25% surge. In many instances, results handily beat Wall Street's expectations. "For many companies, we're not talking about a penny [a share] better than expectations," notes I/B/E/S International Inc. equity strategist Joseph Kalinowski, who predicts a 17% profit gain for the Standard & Poor's 500-stock index in the third quarter.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.