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While all major network airlines are expected to lose money in the quarter, Wall Street analysts expressed frustration about American Airlines, which has higher costs and lower margins than its rivals.
The reason for the disparity is that in the quarter Wall Street sold many, many more bonds than stocks, and fees from bond sales are much lower than they are from stocks.
The stock rose 44.5percentt in the quarter; Wall Street is predicting earnings of 49 cents a share in the fiscal year ending in March 2001, compared with an estimated 15 cents for the fiscal year just completed.
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During the second quarter, Wall Street spent $50.3 million on lobbying, a small drop from the previous period, according to an analysis by the Center for Responsive Politics.
WHEN Intel dropped the bomb late Thursday, ratcheting down its forecast for both sales and profit margins in the current quarter, Wall Street analysts were caught again like so many deer in the headlights.
For the second quarter, Wall Street analysts forecast a decline in earnings of 11.4percentt, and then a drop of 2.9percentt in the third quarter.
For the current quarter Wall Street is expecting Intel to earn $1.02 a share, and $4.65 for 1999.
Revenue rose to $8.2 billion, from $6.5 billion in the year-ago quarter; Wall Street had expected $7.9 billion.
The company earned $42 million, or 5 cents a share, in the quarter, topping Wall Street forecasts by a penny, according to Thomson Reuters.
Without a $346 million after-tax charge and a $257 million pretax reduction in income for auto lease problems, Bank of America's third-quarter profits rose to $2.18 billion, or $1.31 a share, in the quarter, topping Wall Street expectations.
Electronic Arts beat earnings estimates for the quarter and Wall Street definitely likes that, that's what it's all about.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com