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Deutsche Bank, meanwhile, warned clients to keep an eye on balance sheets across the industry as retreating earnings could leave some firms "at risk of cashflow issues".
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Sir Clive said that he sold his shares shortly after the company released its annual report in April, with the approval of the chairman of the audit committee and before he heard that the company was retreating from its forecast that earnings would be unchanged this year from the £408.5 million, before special items, reported in 2003.
The company is retreating from the consumer business because its revenue and earnings have dropped sharply as increased competition has pushed down the price of long-distance phone calls.
[C6.] Dow and Nasdaq Dip Slightly Stocks retreated as an upbeat earnings report from Home Depot failed to erase concern over the nation's flagging economy.
Then it began retreating.
I preferred retreating".
GOP hawks retreating.
Make advancing and retreating patterns (Advance-Advance-Retreat, Retreat-Retreat-Advance, Advance-Advance-Advance-Retreat-Retreat, etc).
Multinational companies who have urged the Treasury to retreat from plans to tax earnings by foreign subsidiaries may also stand to get their way.If the trend continues, the summer could prove perilous for Mr Brown.
The Measure of America report included the map below, which shows that earnings had started to retreat even before the Great Recession.
Stocks retreated slightly yesterday as an upbeat earnings report from the home improvement retailer Home Depot failed to erase concerns over the flagging economy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com