Chuck Hill
Chuck Hill
april expect lower numbers somewhere week
We expect the numbers to be somewhere lower by the week of April 13, when all the (quarterly earnings) announcements will have been made.
bounce business looking numbers
Utilities are pretty much business as usual. In the aggregate, we see the numbers bounce around some, but this will change. We're still looking at better-than-normal performance.
certainly looking negative
We certainly think it will end up in negative territory. I think you've got to be looking at 2002 for any recovery.
decline estimate percent reporting
We're doing about what we expected. Going into the reporting season, the estimate were for a decline of 18 percent and we said we thought we'd end up about down 15 but may end up down 16.
earnings growth revenue slowing
The story on slowing earnings growth and revenue growth is not over.
almost certainly earnings next turn
Earnings are bottoming out and will almost certainly turn up in the next quarter.
earnings focus judgment short term
Quarterly earnings are still made up to be too important, in my judgment. There's too much focus on the short term by far.
add earnings estimates last number percent
Of the 59 percent of the S&P 500 that has reported, earnings are down 18.1 percent. If we add that number to estimates for the rest, we're down 22.2 percent from last year.
negative people season upset
Every quarter, people get all upset when the pre-announcement season is on and it always has a negative bias. I don't think there is anything to be alarmed about.
earnings growth heading market stock
We really thought growth would taper off heading into 2000 and it hasn't. It isn't going to be earnings that prick the stock market bubble.
beginning bit confession disturbing early expect higher negative normal normally number running somewhat
Well, it's still the beginning of the so-called confession season, but it is a little disturbing in that we're running somewhat higher than the normal number of pre-announcements that we would expect this early. And we're running a little bit more negative than we normally do at this early stage.
extremely good
You are going to have extremely good results.
belt downward far misplaced seat sort
We have to see how far downward revisions go. You better fasten your seat belt as we go through that...What's been going on, is there was a sort of misplaced euphoria.
beat excited gets market
We know the market always gets excited when we beat the numbers.