"Conversely, WorldCom's troubles highlight the extent to which long-distance industry fundamentals have deteriorated".
"It is the marriage of a great company and great management with great industry fundamentals," Ms. Sonders said.
"Writing about the mobile app industry is a curious niche; you don't actually have to understand download statistics, different product segments or other industry fundamentals.
Even now as the industry fundamentals improve and room occupancy rates rise, money is hard to come by — expensive for some, nonexistent for others.
"If the headwinds go against Ford as far as industry fundamentals, it makes it that much more difficult for Ford with its restructuring plan".
"Steel industry fundamentals are going through the roof," said Jacob Doft, chief executive at Highline Capital Management, which bought 200,000 International Steel shares and plans to buy more.
In a note to investors, Andrew Griffin, an analyst at Merrill Lynch, said he upgraded his ratings on chip stocks because of "industry fundamentals suggesting that global demand has hit a trough and global supply is stabilizing after strong growth".
Mr. White buys stocks with the goal of holding them at least five years, but he may sell if profit margins stop expanding or because of deteriorating company or industry fundamentals.
"We believe that deterioration in industry fundamentals will continue to more than offset Ford's operating performance," wrote John Casesa, an auto analyst at Merrill Lynch, in a note released shortly after earnings were announced.
Ivan Glasenberg, Glencore's multi-billionaire chief executive, said the company's $6bn£3.7bnbn) takeover of the Canadian grain company Viterra "transforms our already strong agricultural business at a time when industry fundamentals are the most positive they have been for some time".
