Word: gaine
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...just that Wall Street types, as usual, were hoping for even better, and their disappointment whipped up a tornado of selling that they may soon regret. Consider last week's big earnings so-called "misses." Apple Computer's net income rose 92%; Yahoo reported an 83% profit gain; Motorola's profit was up 86%. Not too shabby. Yet the stocks were trashed. Arguably, these companies should have done a better job of managing Wall Street's expectations, but they could hardly be managing their businesses better...
...There were a few genuine clunkers. Citigroup profit fell 3% not counting one-time gains (still, it raised its dividend 11%), and Intel fell way short of its own estimates offered just a month earlier (rival AMD posted spectacular results). On Monday, Bank of America was the latest blue chip to disappoint. Overall, though, S&P 500 companies so far have logged an average gain of 13.7% in earnings per share, according to Thomson Financial. There's a term for that level of profitability. It's called blowing the doors off. And Thomson forecasts double-digit earnings growth straight through...
...speech was only part of a high-stakes Administration effort to gain the upper hand before congressional hearings on the surveillance program begin February 6. On Wednesday, Bush will take a field trip to the National Security Agency in Fort Meade...
...Sadie in Paris, we're probably not really interested." How about listening in on what a political rival is up to or TIME'S next big story about the Administration? If there is no judicial oversight of eavesdropping, how can the President be prevented from using it for personal gain? Do the American people really have that much trust in the Bush Administration after the lies about the reasons for the war in Iraq? It is not news that the U.S. has no respect for civil liberties outside the U.S., but what comes as a surprise is that there...
...diplomacy with the Russians and the Chinese is very intense," says a key official. Rice, scheduled to travel to London next week for a conference on Afghanistan, may stop first in Moscow for talks with Russian officials. She needs Moscow's backing to win Beijing's--and ultimately to gain Iran's compliance. As for a step four to the strategy, there is no clear one yet: an uncooperative frog is something nobody wants to talk about...