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Just 55 of the S&P 500 companies have seen estimates of their likely earnings in the fourth quarter revised upward, while 424 companies are facing declines. "That's telling me that earnings are going over a cliff," says Dirk van Dijk, director of research for Chicago-based Zacks Investment Research, which compiles the earnings forecasts of Wall Street analysts. "Estimates were way too high given the soft economy, and analysts are diligently whacking at them with a machete...
...much tougher on corporate America than they did just a month ago. Part of this new burst of cynicism is coming from the brutally candid earnings that guidance companies have been providing lately. "What management is saying on these [conference] calls is basically 'Life sucks,'" says Van Dijk. (He titled his investment report for the close of October "Halloween Comes Early: The Drop in Earnings Expectations Is Scarier Than Any Witch or Werewolf That Shows Up at Your Door...
Miuccia Prada planted the seeds in her spring 2007 collection, sending down the runway two satin dresses the moody purple-blue of Van Gogh's irises. Since then, fellow designers Marc Jacobs and Zac Posen have filled their lines with shades of it. Nike, the Gap and even Cadillac are sporting its finery. And Michelle Obama certainly got the memo. She wore it to her husband's nomination ceremony and final debate and on Larry King Live--as did, come to think of it, Mr. King...
...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, but adds, "We're expecting record turnout among African Americans...
Night Vision. Van Gogh and the Colors of the Night is at New York City's Museum of Modern Art. The small exhibit includes the artist's masterpiece, "Potato Eaters," and other night-inspired paintings, drawings and letters. See the collection on MoMA's late night (Friday), then hit Danny Meyer's Modern bar and restaurant next door for drinks and small plates (sit in the Bar Room). The Alsatian thin-crust tart with crème fraîche, onion and applewood smoked bacon is perfect with a glass of white. The Van Gogh exhibit runs through...