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Some sectors are getting hit harder than others. At the beginning of October, analysts were expecting the materials sector, which includes big mining and steel companies, to be up 29% for the fourth quarter. But that collective estimate is now -12%, a nosedive resulting at least in part from tanking commodity values. "Analysts feel that earnings weakness is spreading beyond the financials and consumer discretionary sectors, which includes industries like retailing and travel, into other sectors like energy and industrials," says John Butters, director of U.S. earnings research for Thomson Reuters. Among the few companies that may buck the negative...
...fact, last year Microsoft brought in about $19 billion, or just under a third of its total revenue, from the business unit that sells Office. And increased sales of Office, in particular, are credited with helping the Redmond, Wash.-based firm beat analyst estimates for first-quarter earnings...
...could see that they were shams. There was no way Fannie Mae was producing 15% growth every quarter. They had giant derivatives positions, and they couldn't know what they were. I remember being on the telly, telling people that Fannie Mae was going to zero, and they'd say, What the hell are you talking about, that's Fannie Mae. Likewise with the investment banks. I used to sit there and say they're all going to eight [dollars per share]. It was clear that there were 29-year-olds on Wall Street sitting around making $10 million...
That won't be easy. Monthly casualty figures for U.S. service members in Afghanistan now rival those in Iraq--though there are about a quarter the number of troops there. Insurgent groups have spread to previously peaceful regions. "We are not exactly in a stalemate, but we are still marching uphill," says a NATO military commander in Kabul. He compares Afghanistan today with "about where we were in Iraq in 2004 to 2005"--which is just before it started to get really...
Much of that reservoir is African American. While Bush chipped into Ohio's black vote in 2004, the Obama campaign expects to see black support above 90%. In a county like Hamilton, which is one-quarter African American, that enthusiasm could provide the margin of victory. Obama's army has blanketed the county with signs and posters. Capitalizing on Ohio's early-voting law, it has organized van rides to shuttle students, low-income residents and even homeless voters to the early polling station downtown. One Obama aide says the campaign needs socially conservative whites on the East Side...