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The move made PNC's profits seem higher than they were, forcing the bank to restate its 2001 results downward by $155 million in January.
Worries about what companies might say -- and what the news can do to stock prices -- were apparent early, after MicroStrategy, a highflying inventory-management software manufacturer, said it was restating its 1998 and 1999 financial results downward and that its current-quarter results would fall short of analysts' expectations.
Company after company has been forced to lower expectations or to restate past results downward.
Besides the management change, for the second time this quarter the company revised quarterly results downward.
Computer Sciences was at $58, down from yesterday's close of $59.40, after reportedly warning that uncertain conditions in the commercial consulting and foreign currency could skew its fourth-quarter results downward.
Those independently run campuses have been shown to take better-performing students from low-income and minority communities, Gandara said, adding that that trend could skew the district's results downward. .
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Some of the resulting downward spirals ended at one penny.
Since the Paulson plan includes only a subset of borrowers, it will have a modest effect on overall foreclosures, and on resulting downward pressure on prices.
In a speech in Norfolk, the Labour leader will commit to introducing a law dealing with the poor working conditions of many migrants and the resulting downward pressure on wages for local workers.
The resulting downward pull on prices will probably not be offset by adequate demand because potential buyers will be afraid they are still buying high in a declining market.
As at Columbine High School in Colorado -- where 2 youths murdered 12 students and a teacher before turning their weapons on themselves -- that same sense of being an outsider might contribute to the drug users' continued sense of worthlessness and resulting downward spiral.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com