News Formal

Brace for big cuts to corporate earnings forecasts: Bank of America

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Brace for big cuts to corporate earnings as companies adjust to a tougher credit environment, Bank of America says

Companies will continue to deliver big cuts to earnings expectations in a tighter credit environment, Bank of America said.

Cuts to earnings estimates tend to accelerate once the economy enters a recession, the bank warned. And so far, cuts this year are lagging those seen in prior downturns. And following the 2008 financial crisis, earnings per share estimates were cut six quarters straight by an average 20% per quarter.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oman's Ahli Bank disapproves merger offer from Bank DhofarAhli Bank in Oman said on Wednesday its board disapproved a merger offer from Oman's second-biggest lender Bank Dhofar .
Source: Reuters - 🏆 2. / 97 Read more »