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Analysts said they were worried that corporations were getting ready to report losses and reduced profits as earnings season got under way.
Blodget looked at The New York Times and reckoned that although going online reduced costs, compared with printing on paper, it reduced profits even more.
The company said it was making investments in services, which reduced profits, but should improve its performance in the long run.
Britain's largest insurer said storms in the UK reduced profits by £60m in December and it faces a further £60m of claims from severe floods in southern England in January and February.
Executives liked them because a rising market lifted almost all stocks, and the cost, while deductible for tax purposes, was not treated as an expense that reduced profits reported to shareholders.
"In an arm's length transaction," he wrote, U.P.S. would have had to cut in half the prices it charged customers to insure their packages against loss or damage, which would have reduced profits.
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Fewer users, however, means reduced profit.
The strong dollar reduced profit by 7 cents a share, or about 6percentt.
Hewlett-Packard met analysts' reduced profit forecasts in its fiscal first quarter, which ended on Jan.
Hewlett-Packard met analysts' reduced profit targets but said revenue increased only 2percentt.
Like many of its rivals, Qantas expects sharply reduced profit this year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com