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Friday, Jul 20
2012, 5:15 PM
As the saying on Wall Street goes, “If Mama’s not happy, nobody’s...
As the saying on Wall Street goes, “If Mama’s not happy, nobody’s happy.” Well, the mamas of the market are clearly unhappy - which could point to some rocky trading ahead. Downbeat earnings reports from GE and Microsoft (MSFT) this week are just the tip of a melting iceberg. Analysts have begun aggressively cutting Q3 forecasts as well. Consensus estimates now project the 30 companies that make up the Dow Jones Industrial average to post just 1% - 1.5% Y/Y top-line growth for the next quarter, down sharply from the 3% - 3.7% range projected just two months ago.