Corporate Insiders Selling Like Mad as Earnings Growth Turns Negative
From Profit Confidential January 7, 2013 - 12:31pm
The higher the stock market goes, the more skeptical I become. There’s not a lot of good news for the key stock indices. The year 2012 may have been an “okay” year for the stock market thanks to the Federal Reserve keeping interest rates artificially low and significantly increasing the money supply.
But, looking ahead to 2013, reasons to be optimistic about the key stock indices are few. Corporate earnings are declining and those who are close to the markets are fleeing.
I’ve written about third-quarter corporate earnings growth being dismal. The fourth quarter isn’t looking any better. Some well-respected companies in key stock indices are expressing concern about their corporate earnings.
Tiffany & Co. (NYSE/TIF) reported third-quarter net income of $63.2 million, compared to $89.7 million in the same quarter in 2011. The company now expects its corporate earnings for th...
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