These companies are slashing earnings estimates, but the market may have sniffed that out already

It's the trend in earnings that matters. Fourth-quarter estimates, which had been steady for some time, have seen a rapid decline in the past few weeks. The S & P 500 was expected to see an earnings gain of 11% for the fourth quarter on Oct. 1, and that expectation is now down to 7.8%. Stock prices run off future earnings and dividend expectations.

Companies with 10% or more earnings decline for Q4 estimates Airlines/Cruise Lines American Airlines down 87% Norwegian Cruise Line down 87% Alaska Air Group down 84% Southwest Airlines down 46% United Airlines down 33% Carnival down 14% Delta down 13% Media/Entertainment Warner Bros Discovery down 91% Paramount Global down 36% Fox down 20% MGM Resorts down 10% Automotive Ford down 51% General Motors down 36% Tesla down 16% Pharmaceuticals Pfizer down 96% Merck down 71% Energy/Refiners Valero...

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