By Tom Burnett CFA The latest FACTSET earnings summary forecast for the S/P 500 Index continues to reflect reduced expectations for 2020. The negative impact of the economic standstill resulting from the COVID-19 virus outbreak is beginning to show up directly in the consensus analyst surveys and forecasts…
By Tom Burnett CFA On April 14, 2020, two large banks (Wells Fargo, JP Morgan) opened the first quarter earnings reporting season. As expected, the results were dismal. Wells Fargo reported net income of $653 million, down sharply from the $5.9 billion reported in the first quarter of 2019. During the…
By Tom Burnett CFA On April 14, 2020, the IMF (“International Monetary Fund”) issued its regular update of its World Economic Outlook Growth Projections. The latest forecast reflects the negative impact of the Covid-19 virus outbreak. The revisions from its October 2019 forecasts are decidedly negative…
By Tom Burnett CFA In its most recent release (April 3, 2020), FACTSET indicates that consensus earnings estimates for the S/P 500 companies are coming down rapidly. As many companies withdraw “guidance” and explain the negative impact of the coronavirus outbreak on their operations, analysts are…
By Tom Burnett CFA On April 3, 2020, the Bureau of Labor Statistics released its March Employment Report. As expected, the nation’s employment situation has worsened considerably. The cause of the jobs decline is obvious—the coronavirus has sickened countless workers and consumers and the measures…