IF YOU THOUGHT this week was tough, it may get worse.
Investors who haven't yet made it to the sidelines are likely to get blindsided again next week by more market-hobbling earnings warnings. We'd like to offset that with good news, but there isn't any on the horizon beyond rumors of another rate cut (more on that later).
About the only scheduled corporate event of note is Daimler-Chrysler's Monday morning press conference announcing more exec-shuffling and layoffs in an effort to arrest its skid. That's it: no notable earnings reports save Lowe's (LOW) Monday. No anticipated business updates except for Altera's (ALTR) Tuesday. No analyst meetings besides Electronic Data Systems (EDS) Monday, Gateway (GTW) and Qualcomm (QCOM) Wednesday and Sybase (SYBS) Friday. Gateway's and Qualcomm's promise to be no fun at all.
Most likely to fill this vacuum are more preannouncements of sagging profits and outright red ink. Those who reckoned that the December and January reports had already laid out the worst-case scenario for 2001 reckoned wrong: Motorola's (MOT) warning Friday came six weeks after its earnings report; Sun Microsystems' (SUNW) preannouncement the same day followed the company's analyst meeting by just 17 days. Nortel Networks (NT) now faces shareholder suits for drastically lowering earnings estimates four weeks after its last report (and just two days after making off with a key JDS Uniphase (JDSU) manufacturing plant in a $2.5 billion all-stock deal).
What's more, First Call equity analyst Joseph S. Kalinowski notes growing dispersion among the Street's earnings forecasts, suggesting an uncertain future for the economy and plenty of "downside risk" for the markets.
"When I take a look at the short-term horizon and the possibility of many more negative preannouncements before, say, April 1, I'm not in a hurry to pour money into this market. I'd prefer to ride out this confession season," says Kalinowski.
Das sind ja wohl keine "guten Aussichten" die o.e. beschrieben werden.
Wollte eigentlich heute kaufen, werde jedoch heute den Nasdaq beobachten
bevor placement.
Stox
Investors who haven't yet made it to the sidelines are likely to get blindsided again next week by more market-hobbling earnings warnings. We'd like to offset that with good news, but there isn't any on the horizon beyond rumors of another rate cut (more on that later).
About the only scheduled corporate event of note is Daimler-Chrysler's Monday morning press conference announcing more exec-shuffling and layoffs in an effort to arrest its skid. That's it: no notable earnings reports save Lowe's (LOW) Monday. No anticipated business updates except for Altera's (ALTR) Tuesday. No analyst meetings besides Electronic Data Systems (EDS) Monday, Gateway (GTW) and Qualcomm (QCOM) Wednesday and Sybase (SYBS) Friday. Gateway's and Qualcomm's promise to be no fun at all.
Most likely to fill this vacuum are more preannouncements of sagging profits and outright red ink. Those who reckoned that the December and January reports had already laid out the worst-case scenario for 2001 reckoned wrong: Motorola's (MOT) warning Friday came six weeks after its earnings report; Sun Microsystems' (SUNW) preannouncement the same day followed the company's analyst meeting by just 17 days. Nortel Networks (NT) now faces shareholder suits for drastically lowering earnings estimates four weeks after its last report (and just two days after making off with a key JDS Uniphase (JDSU) manufacturing plant in a $2.5 billion all-stock deal).
What's more, First Call equity analyst Joseph S. Kalinowski notes growing dispersion among the Street's earnings forecasts, suggesting an uncertain future for the economy and plenty of "downside risk" for the markets.
"When I take a look at the short-term horizon and the possibility of many more negative preannouncements before, say, April 1, I'm not in a hurry to pour money into this market. I'd prefer to ride out this confession season," says Kalinowski.
Das sind ja wohl keine "guten Aussichten" die o.e. beschrieben werden.
Wollte eigentlich heute kaufen, werde jedoch heute den Nasdaq beobachten
bevor placement.
Stox
