For Immediate Release
Chicago, IL – December 22, 2009 – Zacks Research Equity Strategist Dirk Van Dijk says that S&P 500 earnings are continuing to show red ink. He tracks companies on the Zacks.com web site, naming names, while forecasting trends for the months ahead.
A Happier New Year for Earnings
The overall picture for 2010 in terms of revisions is broadly similar to that of 2009. The most notable exception is for the Transports, which were on top for 2009 but at the very bottom for 2010. However, in both cases, it is based on very few estimates actually being revised for the sector. The revisions ratios are most useful when they are based on a large number of revisions, so take the numbers for the small sectors like Transportation and Business Service with a grain of salt.
The Tech sector’s positive revisions are mostly being driven by upgrades among the chip stocks. Some of the firms in that area with the most impressive revision profiles for 2010 include Analog Devices (ADI), Micron Technology (MU), National Semiconductor (NSM) and Texas Instruments (TXN).
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