click for larger graphic
chart courtesy of WSJ
Was it Japan’s Livedoor investigation and market disruption? Iran’s nuclear ambition? Oil at $68? Avian flu?
I’ll say this as plainly as I know how: A wide cross section of blue chip companies shit the bed.
Major Misses on Revenue, Earnings or Guidance
This wasn’t company specific, this wasn’t sector driven, this is not a technical call. This is the Crème de la Crème of corporate America, acknowledging a slowdown in the economy. Period.
If there is another rational explanation, I’d sure like to hear it . . .