A Second-Half Earnings Reprieve?

First Call's Chuck Hill says despite some uncertainty, analysts aren't cutting their second-half estimates -- a favorable development

Though uncertainty reigns when it comes to forecasting earnings growth, many analysts didn't slash estimates for the remaining quarters of this year. This, says earnings tracker Chuck Hill, research director for Thomson Financial's First Call, is a positive development that hasn't been seen for some time. He says the key measure to watch in the coming months is the strength of consumer spending, which he hopes will be robust enough to soak up the excess capacity lingering in manufacturing and other sectors.

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