Wednesday, October 15, 2008

So Much For Earnings Beats

This morning, 12 of the 15 companies that reported earnings beat estimates, with JP Morgan (JPM) and Wells Fargo (WFC) beating by the widest margins. Coca-Cola (KO) was the other big company that reported this morning, and it beat estimates handily. WFC and KO are up double-digit percentages today, while JPM is currently down about 2%. So the three biggest stocks that reported today all solidly beat estimates and two are trading up on the news. What is that good for? A decline of nearly 700 points on the Dow! How much would a miss from them have cost the stock market? -1,400?

Todaysearnings

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Lunch is for wimps

Lunch is for wimps
It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.