With 20 companies from the S&P 500 reporting last week, and another 120 this week we are getting a good feel for how managers have fared over the last quarter (90 day treadmill) and also how the US Economy is doing.
So far so good !
Earnings have generally beaten expectations with Technology and Financial companies doing exceptionally well, greatly outpacing their expectations. Sales (top line) growth is beginning to show up in earnings reports, which bodes well for further confidence in the recovery, and future employment.
Goldman Sachs In the Penalty Box
We will leave it up to you to determine the legal outcome of the much publicized Goldman Sachs situation. While at first glance the capital market reaction to the situation may have seemed overdone, the concerns are for widespread legal ramifications not only with Goldman but others in the financial sector.
I will be traveling tomorrow, Thursday April 22, 2010 to Austin Texas for a CFA meeting, returning Friday April 23, 2010.
Have a Great Day!