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Clean earnings per share accounting.
"It's not going to be a clean earnings season for financials at all," said Peter Stournaras, a portfolio manager at BlackRock.
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"There's going to be much less confusion in terms of what the clean earnings-per-share number is," says Gallant, "so it's much easier to apply a price-to-earnings multiple across the board and compare media companies to other industries".
And without her husband's earnings, Mrs. Garcia, who cleans houses, struggles to pay her rent and feed the family.
Gemstar-TV Guide International Inc., the publisher of TV Guide magazine, named Brian Urban chief financial officer as the company tries to clean up its accounting after restating earnings three times this year.
And even with reduced guidance on its last call, the company is trading at just 11 times forward earnings and has a clean balance sheet with $1.6 billion in cash flows more than sufficient to pay down $2.8 billion in debt.
It trades at less than seven times this year's earnings, excluding the Gulf clean-up costs.
With price-earnings ratios of many clean energy products high, CLSA suggests another way to invest is to look at companies that supply equipment to energy producers, including the expanding nuclear power industry.
Centrica continues to benefit from a relatively clean generation fleet, cost savings that underpin earnings, and a healthy balance sheet to support investment.
Throughout Central America, thousands fled to the US to clean kitchens for McDonald's, sending their earnings home to feed starving families.
"With the recent run up in the group, we think this earnings season has highlighted that clean beats coupled with upward earnings revisions are really the only way to get stocks moving from these levels," the firm said.
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