David Blitzer
David Blitzer
call collapse commodity companies competitor deal involved sector seen virtually whether
Whether you call it consolidation, rationalization or getting your competitor to go out of business, it's a way for these companies to effectively deal with the collapse of commodity prices. In virtually every sector involved in something that comes out of the ground, we've seen consolidation.
host inflation reports seen vanished
We've seen in a whole host of reports ... inflation has essentially vanished from this economy.
aware chasing investors managers performance
Large-cap managers have been chasing the performance of mid- and small-cap stocks, and investors may not be aware of this.
chose exception generally japan markets obviously periods stock wrong
Over long periods of time, stock markets generally go up. Japan was obviously an exception if you chose the wrong 12 years.
earnings sustained until
I think we have to get through the earnings until we see a sustained advance.
impact numbers seen suggest
These numbers suggest there is no impact to be seen from all the difficulties in Asia.
bet next repeated
The bet is that this will not be repeated next month.
add difficult pressure pricing profit raise together
There's not a lot of pricing flexibility, there is a little more upward pressure on wages, and when you add that all together it can be very difficult to raise profit margins.
bad fuel notices trouble
Also, they're in such bad trouble, who notices the fuel costs?
company competition fact folks home less markets protective provides role surviving truth
There is truth to the fact that competition and markets are more global, especially in the U.S., where being protective of the home company is a little less fashionable than it was 10 or 15 years ago. Merging provides a role for these folks and makes them a surviving entity.
aware caused change earnings estimated fully investors
A change of 7% or 8% in estimated earnings for the S&P 500 is significant, especially if investors are not fully aware of what caused the change.
best change companies definition lack looks quarter reasonable
It's just a lack of consistency. Companies change the definition quarter to quarter, whichever looks best - that's not a reasonable way to do business.
company market member represents sign stock
It's a sign that this is a company that represents the economy, represents the stock market and should be a member of the S&P 500.
change due impact investors low mergers number time unusually year
This is a year of unusually low S&P index turnover due to the low number of mergers and acquisitions in the large-cap sector. So we are making the change at a time when the impact on index investors will be minimized.