On June 27 The Wall Street Journal published an article titled "Stocks Fall. Optimism Stands Tall."
As seen in this article:
I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 1280.10 as this post is written
As seen in this article:
Analysts expect the S&P 500 companies to earn $99.86 a share in aggregate this year, up 2.3% from their April 1 estimate, according to FactSet. Strategists expect $95.24, according to John Butters, senior earnings analyst at FactSet. The median gap between the two groups is now 5.6%, the biggest disparity in at least three years, he says.
Yesterday a Bloomberg article concerning S&P500 sales and profits also indicated that 2011 earnings are forecast in the $99/share range, as seen in this excerpt:For 2012, the divergence is even wider: $112 a share for analysts, compared with $105 for strategists.
_____Revenue gains may push S&P 500 profits to $99.08 a share this year, up 17 percent from 2010, after rising 37 percent a year earlier, the biggest two-year expansion since 1995, analyst estimates compiled by Bloomberg show.
I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.
_____
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1280.10 as this post is written
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