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If sales were weaker than expected, profits were higher than forecast.
Japanese companies, which expected profits to fall, held back from investing.
Wall Street tends to value a company's stock on a multiple of its future expected profits.
It also said it expected profits of more than $2 billion for the fourth quarter.
Just seven months ago, analysts expected profits to rise 9percentt for the full year.
Analysts had expected profits of 57 cents a share on sales of $1.5 billion.
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Earlier, Macy's credited better-than-expected profits to diligent expense management.
Most companies are reporting better-than-expected profits.
In addition to Goldman Sachs, several companies reported stronger-than-expected profits.
It was aided by better-than-expected profits at giants like JPMorgan Chase and Intel.
Like Saks, both companies posted strong sales and higher-than-expected profits.
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