Word: streets
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Dates: during 2010-2019
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...Thus, the near-term earnings may look much improved even though demand for a company's products may have slumped. "Cost-cutting has been the major force driving earnings and earnings surprises," says Dirk Van Dijk, chief equity strategist at Zacks Investment Research, which monitors earnings projections from Wall Street analysts. And "clearly companies cannot continue to grow earnings forever based only on cost-cutting." (See 10 things to buy during the recession...
...anymore. Earlier this week, aluminum giant Alcoa posted fourth-quarter results that fell short of Wall Street's expectations, triggering a sell-off in the company's shares. The company reported a loss of 28 cents a share, which was narrower than the $1.49-a-share loss a year earlier. However, it missed analysts' projections. Investors were particularly miffed at Alcoa's revenue number, which totaled $5.43 billion, down 4.6% from $5.69 billion a year ago. Analysts had been expecting revenue growth. Investors subsequently dumped shares, causing the stock to plunge 11%, its worst one-day drop since last March...
...lesson of the past year is that mistakes made on Wall Street can have real bad side effects on the rest of the economy," says Robert Johnson, a senior fellow at the Roosevelt Institute and a former chief economist of the Senate Banking Committee. "And that's adequate grounds to put in restraints before we have to have the next bailout." (See award-winning pictures of the fallout from the financial crisis...
...Blankfein even seemed to show some support for a consumer financial-product regulator, saying he thought there should be more attention paid to how financial markets interact with the retail market. But when it comes to more restrictions on the way large Wall Street firms like Goldman do business, Blankfein said there were already too many constraints. He said that since his firm began to be regulated by the Federal Reserve and not the Securities and Exchange Commission - a switch that happened when Goldman became a bank-holding company in late 2008 - the oversight of his firm had increased...
...Still, many believe the government needs to do more to rein in risky behavior on Wall Street. Among the proposals that have been promoted by President Barack Obama and Congress are a systemic regulator that would be on guard for markets and participants that were creating unseen risks in the financial system. Last month, the House of Representatives passed a bill that would create a new agency to protect consumers and regulate products like mortgages and credit cards. Even the Independent Community Bankers Association, which has fought new regulations of the financial sector, says the government needs to do more...