InfoAnda - US earnings season kicks off with gloomy outlook

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Alibaba.com to buy U.S. e-commerce site Vendio | 25 June 2010
Estonia keen to host EU's future IT agency: minister | 5 June 2010
RPT-Seoul shares gain 0.2 pct on techs, Korea Express | 22 November 2010

Chipmakers' forecasts prompt fears of Nokia slump | | 24 January 2012

">Forum Views () ">Forum Replies ()

Read more with google mobile : US earnings season kicks off with gloomy outlook

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: US earnings season kicks off with gloomy outlook AFP - 2 hours 26 minutes ago WASHINGTON, (AFP) - - The first quarter US corporate earnings reporting season has kicked off with Wall Street bracing for another dismal performance that could keep markets on tenterhooks. ADVERTISEMENT US aluminum giant Alcoa became the first blue chip company to report its January-to-March earnings after the stock market closed Tuesday, declaring a hefty 497-million-dollar net loss amid plunging prices for the key metal. Its second consecutive quarterly loss was higher than expected by most analysts and underscored the depth of the 16-month-old US recession flooding listed companies with red ink. "Alcoa has come out with earnings and losses which are as dismal as a vacation in hell without any water and without any flame retardant," said Jon Ong of 24/7 Wall Street. But the earnings were a little "less bad" than expected, or at least not as bad compared to some estimates, he hastened to add. Excluding one-time charges, Alcoa posted a loss of 59 cents a share, slightly higher than the 57 cents a share projected by most analysts. Anticipating another downbeat earnings season, Wall Street investors locked in profits for the second straight session Tuesday as the Dow Jones Industrial Average shed 186.29 points or 2.34 percent to end at 7,789.56. The blue chip index drifted further away from the 8,000 level it breached last Friday capping a four-week rally. "Wall Street anticipates a seventh straight quarter of declining profits," said Wachovia Securities chief market strategist Al Goldman. "The market is more vulnerable to the expected poor first-quarter earnings and disappointing management outlooks given the recent sharp advance in stocks," he said. The latest consensus of industry analysts is that large-cap firms covering about 75 percent of the American equity market by capitalization earned on average 12.26 dollars per share on an operating basis during the January-March period. The average was 16.62 dollars per share a year ago and 22.39 dollars in the 2007 first quarter. As the earnings reporting season began, investors had to stomach more depressing news. A report by Standard & Poors said Tuesday that 367 firms slashed a total of 77 billion dollars in dividend in the first quarter, making it the worst quarter on record for corporate dividends. It "is eye-popping," said Howard Silverblatt, senior analyst at S&P, in a research report Tuesday. "The full impact of these cuts will be felt this quarter, when the dividend check is sent in the mail." Another rating agency Moody's Investors Service said the default rate for corporate bonds was the highest in March since the Great Depression. Adding to the uncertainty was a survey released Tuesday showing chief executives of many major corporations anticipated a decrease in expected sales, capital expenditures and employment figures for the next six months. The US stock market has had a very good run the past four weeks based on the belief that financial companies were stabilizing, and sporadic improvement in economic data, especially consumer spending. Whether that proves to be the case may become more evident with bank earnings reports starting on April 16. US corporate trends, such as industrial production, payrolls, and orders, remain weak, analysts at Briefing.com cautioned in a note to clients. "It is not clear whether the bounce in consumer demand will prove a harbinger of better times ahead or a false spring." Some analysts said that banks could capitalize on a recent change to accounting rules that offered them more leeway in valuing distressed assets. The change may prop up earnings even as financial realities remain dour. But Mike Mayo, an analyst with Calyon Securities, said he expected bank loan losses to hit levels that exceeded the Great Depression. And a news report said the International Monetary Fund will raise its estimates for US bad debt to 3.1 trillion dollars. "While the tone of the market has improved with the markets third 20 percent rally since October, we continue to expect above average price volatility as we work through earnings season over the next six weeks," said Frederic Dickson, chief market strategist for DA Davidson & Co. But he added, "the market picture looks a lot better than it did two months ago, with emerging signs that the recession may be in the early stage of slowing down." Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Enlarge Photo A protestor holds a sign during a "National March On Wall Street." The first quarter US corporate earnings reporting season has kicked off with Wall Street bracing for another dismal performance that could keep markets on tenterhooks. Most Popular – Top Stories Viewed Journalists get shock with 'sexy' White House call World's first hands, face transplant Explosives chemical found in US baby formula Gloom grips markets braced for US earnings season Ailing lender RBS to cut up to 9,000 jobs View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Wednesday, 8 April 2009
Israel sees dead end, Obama calls for peace | International |
Red Cross says doctors helped CIA torture | International |
India urges rich not to use green protectionism | International |
Food crisis not over, U.S. aid is key: WFP official | International |
Libya's Gaddafi says fears Obama assassination | International |
Yahoo's plan: create community from isolated sites | Technology |
Sienna Miller excited, scared over Broadway debut | Entertainment |
Bollywood calls 'cut' on multiplexes | Entertainment |
Italy seeks survivors, prepares to bury quake dead | International |
Violence threatens aid in remote Afghan mountains
Peru's Fujimori gets 25 years prison for massacres | International |
Major powers look at new ways to coax Iran
Settlers rampage through West Bank village: residents | International |
DA: Chinese man plotted to help Iran with nukes
Obama in Baghdad, tells troops Iraq must take over
North Korea making progress in rocket technology: Japan | International |
US earnings season kicks off with gloomy outlook
U.S. hints deadline could slip on Russia arms deal | International |
Israel tests system to shoot down Iranian missiles
Gloom grips markets braced for US earnings season
Major powers look at new ways to coax Iran | International |
Iraqi salesman saves baby after bomb kills mother
Spain's finance minister exits in reshuffle
Myanmar bus accident kills 20 pilgrims | International |
Israeli police kill Palestinian at demolition site
Protesters gather in Bangkok for Asian summit | International |
Pay should be linked to company value: Goldman CEO
Obama departs Iraq, headed for Washington
UN sounds warning after Antarctica ice shelf rips
Moldovan riot police take control of president's office | International |
Obama pushes Iraq for political progress
Baby survives Baghdad bombing
UN sounds warning after Antarctica ice shelf rips
Fear of viruses could be causing PC attacks: report | Technology |
Intel unsure when stimulus will lift chip demand | Technology |
Taiwan's Elan sues Apple over touchscreen patents
Media resumes photos of Iraq, Afghanistan war dead
Fox columnist axed after reviewing pirated flick
Fidel Castro asks US lawmakers how to improve ties
US newspaper owners are "mad as hell"
Jailed US reporter's dad to stay in Iran
Taiwan's Elan sues Apple over touchscreen patents | Technology |
Growing threat from cyber attacks: US general
Six powers to discuss Iran nuclear program
Madoff's Mets baseball tickets may soon go on eBay
Madoff's Mets baseball tickets may soon go on eBay | Technology |
Aftershocks rattle Italy quake zone, toll hits 235
US lawmakers wrap up observer mission to Haiti
Google is good for newspapers: executive
French legionnaire in Chad kills four
Obama says Iraq faces 'critical' 18 months
Yahoo's plan: create community from isolated sites
Govt. approves plan for new spy satellites
Gunman kills one, then self at German court
Sony PS3 tops Nintendo Wii in Japan in March: survey
Fidel Castro "energetic" in meeting with U.S. lawmaker
Intel handed $643 mln Danish tax bill: report
US military deaths in Afghanistan region at 602
GM and Segway plan electric two-wheeler
Sony PS3 tops Nintendo Wii in Japan in March: survey
US envoy in India for regional security talks
US Senator McCain returns to wartime Vietnam jail
Malaysia's Anwar says voters rejected new PM
Thai PM Abhisit rejects calls for resignation
Penn resurfaces in White House after suicide | Entertainment |
Jackman condemns Wolverine leak | Entertainment |
Protesters gather in Bangkok
Jay Leno brings comic relief to battered Motown | Entertainment |
Asian summit to go ahead despite Thai protests
Eminem spoofs celebs, Palin in new song | Entertainment |
Malaysia's new PM still finalising cabinet
Warner Bros. warns Bollywood: Don't touch Button | Entertainment |
Ex-POW McCain visits 'Hanoi Hilton' Vietnam prison
Poehler and company craft winning workplace sitcom | Entertainment |
Cera film Paper Heart set for summer release | Entertainment |
Chavez in China to strengthen ties built on oil
Thai leader calls for calm ahead of mass protest
Young Star Trek crew boldly walks red carpet | Entertainment |
Sharp forecasts bigger loss amid global slowdown
Jackman condemns "Wolverine" leak
Japan's Sharp sees deeper net loss
Wolverine 'heartbroken' over stolen film
Seoul shares extend losses, down 3 pct
Penn resurfaces in White House after "suicide"
Toyota banks on tiny, green but pricier iQ model
Cera film "Paper Heart" set for summer release
S.Korea banks keep lending as credit fears ease
S.Korea bond orders at $6 bln but pricing unexceptional
Korea Hot Stocks
England's Morris dancers fight back
Report: Japan mulls 'cash for clunkers' stimulus
Reports: China auto sales surpass US for 3rd month
Villazon cancels remaining Met performances
Philippines removed from OECD tax blacklist
Cera film "Paper Heart" set for summer release
Indonesian villagers ask when will democracy pay
Warner Bros. warns Bollywood: Don't touch "Button"
Poehler and company craft winning workplace sitcom
Another celebrity eliminated from ABC's `Dancing'
Eminem spoofs celebs, Palin in new song
Fox columnist axed after reviewing pirated flick
Coldplay files response to copyright case
'Rock of Ages' tours the music of the '80s
Bomb near Baghdad Shiite shrine kills 7
Bomb kills 7 near Baghdad Shi'ite shrine: police | International |
Twelve hurt in WBank settlers' rampage
Two-time space tourist returns to Earth
Savvy young heirs give Mexico drug cartels new face | International |
Iraq city placed in lockdown as police hunt bombers
Iran to say mastering final stage of nuclear cycle | International |
Japan eyes huge stimulus as trade collapses
Bomb kills 7 near Baghdad Shi'ite shrine
Pakistani Taliban move into new area; drone kills 3 | International |
Aftershocks slow Italy rescue efforts, toll at 250
Safety team warns of 'catastrophic' wiring in Iraq
Israeli Jews hold rare prayer to bless the sun
Pakistan arrests 5 militants planning attacks | International |
US-TECH Summary
US electricity grid hit by cyber attacks: report
Bogus security software growing threat: Microsoft
Fear of viruses could be causing PC attacks: report
Cyberspies penetrate electrical grid: report | Technology |
Oman Web trial raises censorship concerns | Technology |
Somali pirates hijack carrier with 20 US crew
One dead as shooter hits California retreat
Lawmakers meet Castros, urge end to embargo
Sony nabs international rights to Obama documentary
Iranian president welcomes 'honest' talks with US
Obama back in Washington after international swing
Castro brothers meet US lawmakers seeking talks
China sentences 2 to death for fires in Tibet riot
Philippine police find chopper wreckage, 3 bodies
Thai police says 100,000 join anti-gov't protest
NKorea rally to mark 'historic' rocket launch
Pakistan: 5 dead as Taliban move beyond stronghold
North Korea holds massive pro-rocket rally
China orders new probe into state TV building fire
Police: Thai anti-gov't protest swells to 100,000
NATO soldier killed in southern Afghanistan
New film reflects indie woes | Entertainment |
Songwriter retires as head of music rights group | Entertainment |
HK's Citic Pacific chairman steps down amid probes
Sony nabs international rights to Obama documentary | Entertainment |
Price guidance given on S.Korea bond sale-sources
HK's Citic Pacific chairman steps down amid probe
New Zealand house prices fall further in March
Dollar drops back below 100 yen
China: NKorea should not be focus of Asian summit
China shares fall on worries about economy
Thai central bank cuts interest rate to 5-year low
Taiwan dollar logs steepest fall in almost 2 months
Asia Crude-Taiwan CPC buys May Malampaya condensate
Indonesia gets ready for parliamentary elections
Leno gives free show for unemployed in Michigan
Sony nabs international rights to Obama documentary
Last Aztec emperor in spotlight at British Museum
Testimony ends in Castroneves tax trial in Miami
Blair urges Catholic Church homosexuality rethink
Drama `Southland' puts L.A. police in spotlight
Songwriter retires as head of music rights group
Soyuz capsule back on Earth with space tourist
Jackman 'heartbroken' over leaked superhero film
Hugh Jackman heartbroken over 'Wolverine' leak
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01