As the saying on Wall Street goes, “If Mama’s not happy, nobody’s...
Friday, July 20, 2012, 5:15 PM ETAs 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.
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