Friday, February 13, 2009

Another First

Before this Bear is done feasting on "investors," there will many other "firsts" for negative data.

S&P heads to first quarter ever of negative earnings
by Kate Gibson, MarketWatch
NEW YORK (MarketWatch) - As Wall Street tracks Washington's moves to help the beleaguered banking sector and pass more economic stimulus, nearly 400 of the S&P's 500 companies have weighed in and reported a collective loss -- even excluding financials.

"This is the worst, after the sixth quarter of negative growth, it will be the first quarter ever of negative earnings," said Howard Silverblatt, senior index analyst, at Standard & Poor's.

A sixth quarter of negative growth ties the prior record set when Harry Truman was president, and ran from the first quarter of 1951 to the second quarter of 1952...

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