Businesses are Guiding Down Earnings Estimates

According to an article in Bloomberg, “the number of S&P 500 companies saying profits will trail analyst estimates outnumbered those saying they’ll beat them by a ratio of 8-to-1 in the third quarter,” the highest level shown by Bloomberg data going back to 2010. The article cites possible reasons, including: After their predictions were “trounced at record rates in the first half,” analysts lifted estimates to unrealistic levels. Companies are “making room for the quarterly… Read More