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Goldman’s Kostin Warns of ‘Significant’ Negative Earnings Surprises

  • Higher rates, Ukraine war to weigh on first-quarter profits
  • Kostin sees less than 2% gain for S&P 500 in remainder of 2022
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Goldman’s Kostin Expects Negative Earnings Surprises

Don’t expect the upcoming earnings season to deliver too many positive surprises, said Goldman Sachs Group Inc.’s David Kostin. 

The upward move in interest rates, the ongoing war in Ukraine and the omicron coronavirus variant have made the first quarter a particularly difficult one for companies, likely hampering sales in several sectors, the firm’s chief U.S. equity strategist said in a Wednesday interview with Bloomberg Television.