Analysts And Companies May Begin To Cut Q3 Earnings Numbers

Second quarter earnings are set, at least for those firms on a calendar year. The period was fairly strong economically, except perhaps for June. That means that some earnings could come in weaker than expected. Companies and securities analysts may also begin slashing their third quarter forecasts. Many economists expect GDP growth in both the US and overseas to slow. Others believe many countries will go into double dip recessions which leave multinational companies particularly vulnerable.Several large companies, at the very least, are likely to miss the high end of the estimates for their earnings expectations including Ford Motor F, Google Inc. GOOG, Apple Inc. AAPL, and GE GE. Consensus earnings estimates for the third quarter for Ford are for $.24 per share, but the low end of analysts’ forecasts is $.10, down from $.26 last year. Slowing car sales in the US and Europe could erode Ford’s margins. To read the rest, head over to 247WallStreet.com