Third-quarter earnings season officially kicks off this week with big banks, airlines and consumer-staple firms set to report on Tuesday, and though Wall Street's eyeing improvements over the previous quarter, a sustained economic recovery is still ultimately contingent on widespread vaccination.... [+]
Expect weak and uneven sales growth, and a collapse in profit margins, to characterize third-quarter results, Goldman Sachs said in a weekend note to clients, adding that it still expects election results will have more of an impact on stocks than earnings, and that ultimately, vaccination is"essential for the normalization of the economy."
Meanwhile, Glenmede Investment Management said Monday that although it estimates 77% of economic activity lost due to social-distancing mandates has been regained, it only expects earnings will see a small rebound from an"abysmal" second quarter.
Retailers, venues, schools, restaurants without outdoor seating and other establishments still haven’t reopened. Those that can still aren’t able to run past 25% capacity. Where on this Covid Earth were these numbers grown?
Yes, the implementation of Covid rules, in my opinion is the worse customer service skills to build relationships in business with customers. How to implement a recession? Enforce bad customer service in the Customer Relationship Management Strategy. 😥
Great Barrington Declaration