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0 0.00141542816702044 -0.00212314225053087 -0.00247699929228588 -0.00247699929228588 -0.00247699929228588 -0.00247699929228588 -0.00247699929228588
Stock impact report

Hold The Applause For The Rising Market: Earnings Still Stink [Forbes]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Company Research Source: Forbes
You ain’t seen nothing yet. That 1970s tune by Bachman-Turner Overdrive sums up what lies ahead for earnings and the market. Let’s all hope that Gilead ’s remdesivir proves as good at combating COVID-19 as hoped, and that the economy can start up again without a vicious second wave of infections.But the shutdown of society and the economy bodes poorly for earnings going forward. A lot of damage already has been done, with 26 million filing for unemployment and many more on the way.Earnings are what drive the stock market. The S&P 500 jumped 2.7% Wednesday on the Gilead news. That furthers a rally that has rolled on for the past month, buoyed by hopes that the virus can be vanquished. Yet the view for corporate profitability for the rest of the year is uninspiring. In 2008, the worst year of the financial crisis, earnings per share  tumbled 77.5%.Photo by Gotham/Getty ImagesRight now, the analyst’s consensus is for a 15.7% skid this year, according toFactSet ResearchJerome Levy Forecas Show less Read more
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