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Also today, Alan Greenspan, the Federal Reserve chairman, warned that the wave of earnings restatements that have hurt stock prices lately was not over.
They said that the agreement was an important development in the government's investigation of white-collar corruption, which has expanded significantly over the last year after the wave of earnings restatements and corporate scandals.
Nonetheless, a wave of earnings reports and takeover speculation should keep activity brisk in the technology sector.
Stocks are expected to open mixed today as Wall Street digests another wave of earnings reports, mostly on the positive side.
When that new stage is eventually reached, Bove expects a second wave of earnings from better utilization of balance sheets which have been inhibited by have to set money aside.
Similar(54)
[C8.] Stocks Slide on Economic Data Stocks fell moderately as investors were discouraged by more weak economic data and a new wave of corporate earnings warnings.
Stocks fell moderately yesterday as investors, still nervous about the scope of the United States military response to the terrorist attacks, were discouraged by more weak economic data and a fresh wave of corporate earnings warnings.
But Mr. Paulsen also pointed to the next wave of corporate earnings, which will start being announced next month and which should be about 20percentt higher than in the second quarter of 1999.
Stocks reached new highs for 2009, riding a wave of strong earnings.
HONG KONG — Japanese, Hong Kong and Australian benchmark indexes fell for a second day Wednesday, as investors stepped on the brakes after a rally on anticipation that a wave of corporate earnings could miss forecasts.
HONG KONG — Major stock markets across Asia were awash in a sea of red Wednesday, extending losses for a second day as investors continued to be cautious in the face of a wave of corporate earnings that were expected to miss forecasts.
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