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Some people say earnings don't matter in the new economy.
Seven months later, these forecasters say earnings will grow only 5.6percentt.
Microsoft fell 88 cents, to $68.02, amid speculation that the company would say earnings would not meet expectations.
That is to say earnings of the highest paid have risen whereas those further down the distribution have seen their earnings rise by less.
Secondly, though, by using, say, earnings to weight stocks, they are, in effect, tilting their weighting toward value stocks and away from growth stocks.
Most strategists at other big securities firms say earnings could recover as early as the first quarter of 2002 and that a full-bore economic recovery will be evident by spring.
Similar(44)
We should have said "earnings before interest".
Gap said earnings more than tripled.
The company said earnings increased to $387 million.
Qantas said earnings might not revive this year.
The Continental Illinois Corporation said earnings rose 8.6percentto to $40.5 million, from $37.3 million.
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