Third Quarter Earnings

“NEW YORK – U.S. companies are warning about third-quarter earnings at a rate lower than last quarter but still at the second highest level since 2001, leaving estimates well below what they were just three months ago.Companies issuing negative outlooks for the quarter outnumber positive ones by 5.2-to-1, the most negative since the 6.3-to-1 ratio in the second quarter.The second-quarter ratio is the worst since the first quarter of 2001. The third quarter would be the second worst since 2001, according to Thomson Reuters data.As a result, third-quarter earnings for Standard & Poor’s 500 companies were expected to increase by 4.6 percent compared with a year ago, down from a forecast of 8.5 percent on July 1.” (Reuters)

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