Corporate
Companies are lowering their earnings outlooks for 2023 as 'corporate misery' rises in a 'troubling' sign, says Bank of America
15 days ago | By Business Insider
Traders work on the floor of the New York Stock Exchange. Andrew Burton/Getty Images
Companies are lowering their earnings outlooks for 2023 in an early sign of trouble ahead, says Bank of America.
The downward revisions have weighed on S&P 500 earnings forecasts, which have dropped 10% from their June peak.
The "early signs are troubling," the bank said, adding it expects earnings to decelerate further this year.
Companies are releasing profit outlooks for 2023 that's more gloomy than expected as fourth-quarter earnings season gets under way, according to Bank of America. S&P 500 earnings...
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US stocks tick down as industrial heavyweights report mixed earnings
15 days ago | By Business Insider
US stocks have rallied sharply since June. ANGELA WEISS/Getty Images
US stocks opened lower Tuesday with all eyes on a new slate of earnings.
Johnson & Johnson, General Electric and 3M all reported before the opening bell.
Microsoft will report after the close ahead of a busy week for tech earnings.
US stocks ticked down Tuesday amid mixed fourth-quarter earnings from industrial heavyweights. General Electric and Lockheed Martin exceeded analyst expectations, while 3M missed on earnings but beat on revenue. Meanwhile, Johnson & Johnson beat on earnings but fell just short of revenue...
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