Up 11% ex financials, and if you do it ex financial writeoffs and include financial operating earnings its higher than that.
The risks to 2008 come from perceived risks of a general slowdown that hasn’t happened yet.
They also point to the January payroll number to support their 2008 concerns. Yes, payrolls are a concern which may solidify if the first revision next month isn’t upward by at least 50,000.
by Ed Carson
Corporate profits can be boom or bust. Right now they’re both. With 58% of the S&P 500 reporting results as of Monday morning, fourth-quarter earnings are on track to dive 20.7% from a year earlier, according to Thomson Financial. It would be the worst showing since the fourth quarter of…