Ex Apple, AIG, S&P Profits Up 1%; Emerging Markets To Rescue?
By: Stocks To Watch
Posted on March 09, 2012 at 14:47 PM EST
As investors look ahead for earnings growth, a word of caution on the Standard & Poor’s 500 growth rate of 6.1% for the fourth quarter: take out Apple and insurer American International Group, and the growth rate drops to 1.2% Apple (AAPL) reported solid growth for the fourth quarter, with earnings of $13.87, up 116% [...]
As investors look ahead for earnings growth, a word of caution on the Standard & Poor’s 500 growth rate of 6.1% for the fourth quarter: take out Apple and insurer American International Group, and the growth rate drops to 1.2%
Apple (AAPL) reported solid growth for the fourth quarter, with earnings of $13.87, up 116% from the prior year’s quarter. Sales rose 73.3% to $46.3 billion. But AIG (AIG) also threw off averages, with earnings of 82 cents per share in the fourth quarter compared to a loss of $16.20 in the fourth quarter of 2010. Much of the loss in that prior quarter was due to a $4.2 billion net charge from boosting loss reserves at AIG’s Chartis unit.
So where will the earnings growth come from in the second half of the year? Many signs point to merging markets, reports John Butters, the senior earnings analyst at FactSet, based on comments he compiled from companies:
Still, a sobering comment on January 26 from Eaton (ETN), a maker of industrial electrical equipment, may sum things best: “One of the hardest calls from an economic perspective right now is, how long does the European weakness go on?”
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