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Title: U.S. Stocks Cheapest Since 1990 on Analyst Estimates
Source:
BBG
URL Source: http://www.bloombrg,.com
Published: Apr 26, 2010
Author: Lynn Thomasson, Whitney Kisling and Rita
Post Date: 2010-04-26 15:05:37 by war
Keywords: None
Views: 1815
Comments: 73
April 26 (Bloomberg) -- Even after the biggest rally since the 1930s, U.S. stocks remain the cheapest in two decades as the economy improves. Profit estimates for Standard & Poor’s 500 Index companies from Apple Inc. to Intel Corp. and CSX Corp. climbed 9.1 percent on average in April through the end of last week, twice the gain in their prices and the largest monthly increase since at least 2006, data compiled by Bloomberg show. The benchmark gauge for American equities is trading at 14.2 times forecasts for its companies’ earnings, lower than any time since 1990, except for the months after Lehman Brothers Holdings Inc. collapsed. Income is beating analysts’ estimates by 22 percent in the first quarter, making investors even more bullish that the rally will continue after the index climbed 80 percent since March 2009. While bears say the economy’s recovery is too weak for earnings to keep up the momentum, Fisher Investments and BlackRock Inc. are snapping up companies whose results are most tied to economic expansion. “The stock market is incredibly inexpensive,” said Kevin Rendino, who manages $11 billion in Plainsboro, New Jersey, for BlackRock, the world’s largest asset manager. “I don’t know how the bears can argue against how well corporations are doing.” S&P 500 companies may earn $85.96 a share in the next year, according to data from equity analysts compiled by Bloomberg. That compares with the index’s record combined profits of $89.93 a share from the prior 12 months in September 2007, when the S&P 500 was 19 percent higher than today. Record Pace The earnings upgrades come as income beats Wall Street estimates at the fastest rate ever for the third time in four quarters. More than 80 percent of the 173 companies in the S&P 500 that reported results have topped estimates, compared with 79.5 percent in the third quarter and 72.3 percent in the three- month period before that, Bloomberg data show. The S&P 500 rose less than 0.1 percent to 1,217.53 at 10:05 a.m. in New York. The gauge increased 2.1 percent last week as new-home sales surged the most since 1963, recovering from the April 16 rout when the Securities and Exchange Commission said it was suing New York-based Goldman Sachs Group Inc. for fraud. The index is up 9.2 percent for 2010, the largest gain in the world’s 15 biggest equity markets, Bloomberg data show. While analysts are raising estimates, they’re not boosting investment ratings. Companies ranked “buy” make up 30 percent of all U.S. equities, the data show. That compares with 45 percent in September 2007, a month before the S&P 500 reached its record high of 1,565.15 and began a 17-month plunge that erased $11 trillion from the value U.S. shares. Easier to Adjust “It’s been easier for analysts to adjust their earnings estimates than to aggressively put forth strong ‘buy’ recommendations,” said Keith Wirtz, who oversees $18 billion as chief investment officer at Fifth Third Asset Management Inc. in Cincinnati. “It may be a reflection of concern about the resilience of earnings in 2011 and beyond.” Companies are losing the benefit of a weaker dollar after the currency appreciated 9.5 percent since November against a basket of six trading partners, according to the Dollar Index from Atlanta-based IntercontinentalExchange Inc. A rising currency cuts demand for American exports and reduces overseas revenue when converted back to dollars. Abercrombie & Fitch Co., the New Albany, Ohio-based teen retailer, warned the rally may weaken its profitability, according to a March 10 conference call. Westport, Connecticut- based Terex Corp., the world’s third-biggest maker of construction equipment, said in an April 21 earnings release that currency swings may reduce revenue. Terex got 75 percent of 2009 sales outside the U.S., Bloomberg data show. Alternate Valuation David Rosenberg, chief economist of Gluskin Sheff & Associates Inc., says U.S. stocks are poised for losses because they’ve become too expensive. The S&P 500 is valued at 22.1 times annual earnings from the past 10 years, according to inflation-adjusted data since 1871 tracked by Yale University Professor Robert Shiller.
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#34. To: mininggold (#33)
Before spending those deep dark nights in the coal mines of the Indian Ocean. He made a flippant remark. That's all he had to say...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Maybe he looked young for his age.
God, how I hate those that pretend to be Vietnam Vets. almost as bad as the one's that pretend they were 'SEALS'. Almost.
I can see NOVEMBER from my House....
lol
I spend more time on FB than anywhere else on the web these days .... badeye
Don't see the humor, but whatever.
I can see NOVEMBER from my House....
That's because the joke is you.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
LOL
LOL
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Abu el Banat: "lol" Badeye: "Don't see the humor, but whatever." war: "That's because the joke is you." Fred Mertz: "lol" war: "lol" I noticed that this was Badeye's last post, I've been wondering why he's not posted since, I even thought maybe I had said something stupid to cause it. You know something guys, there's a little bit in each of you I like, and there is a little bit I find disturbing, I have to wonder what sort of men you are in person....but that's just me. But what I can't help but wonder is, what part of Badeyes post did you, war, Abu el Banat, and Fred, what part of his post about hating those who Steal Valor did you disagree with? Personally, I LOATH and Despise any person who would claim to have served in the military, but did not, I honestly would, if I got the chance, punch a person in the face, then kick them while had them down, there is absolutely ZERO humore in that. So my other question would be, were you just doggin this man to see if he wuold throw in the towel, because man, after the beating I see some take on these forums, I don't blame them, why stick around with the same people for years who still spend their every waking moment, ganging up on you to see how much you can take? Sometimes it is fun, and even justifiable at times, to take a poke at a person...but LOL, some of you guys just don't know when to give it a rest. That's all I have to say on this, it's just my honest opinion!
Who gives a shit? Seriously... ...but LOL, some of you guys just don't know when to give it a rest. We didn't even scratch the surface of the derision that he deserves...I come from a family of veterans. I come from a family in which some are still in active duty. I have NEVER seen anyone wear his service on this sleeve the way that Boofer does.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
I don't know why he left. My suspicion is that his 'expertise' on the oil rig disaster embarrassed him. He claimed minor leakage. Like war says, he wears his Navy service on his sleeve. I don't like that stuff.
Any site is better when he is not around. It's an ego fest for him no matter what kind of attention he's getting. It's much better dealing with Boof in the past tense.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
I think you predicted his melt down about this time - May. Although he hid it.
Three turds that just won't flush.
Sneakypete, have you ever been married? Said things you later regretted?
It's a given at any site in which The World According To Boof is the anti-reality...(laughing)
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
"COWS!!"..."COWS!!" Staff Details- Joel Rogers Joel Rogers is a professor of law, political science, and sociology at the University of Wisconsin-Madison. He directs COWS, (hmmm...a COW- director/CommunityOrganizer...lol) the national think-and-do tank on high road development, and the new Center for State Innovation (CSI). Rogers has written widely on democratic theory and American politics and public policy. His most recent book (with Richard Freeman) is What Workers Want (2006). A longtime activist as well as academic, Newsweek identified him as one of the 100 Americans most likely to shape US politics and culture in the 21st century." Please email Joel Rogers via his assistant, Michelle Bright, at: Selected Articles •Build the High Road Here Newspaper Columns & Commentaries •"Unfulfilled Promise," The Nation Online 6/21/2004 News Coverage •"Metropolis now," New Statesman 9/17/2009 BWAHAHAHAHAHA...so, Rogers is a Edwards KISS-ASS...LOL!! Whatta friggin' girleyman METROSEXUAL...I shall be joining MisterRogers in HIS class someday in the not-so-very-near future...or NOT!! MUD's visit/encounter with MisterRogers shall be pre-ordained, and/or televised on YouTube...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States, Becuz I like to see the RATS suffer as I routinely BLUDGEON them with my Wisdom and MUD's wit...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States, I come back to catch up on news and stories, maybe I'll exchange a word or two with those who still know how to talke to a person civil, but MUD, not one of these people who get their jollies hurting others, day in, and day out, they're not worth one more moment of what little precious time we have left...there are so many other good people, and things I'd rather be doing. But no matter how often you try to explain this, they throw it right back in your face...it takes a very ugly person to do that year after year.
Indeed, RebelGal...I long ago adopted the "Sheepdog and the Coyote" mentality with those HOO joined a LibertyLovin' political chat 4um to attack LibertyLovers and Defend TotalitarianistMarxists and the most Authoritarian Regime in American Presidential History...ROFLMAO!! Fer the record, MUD has always been KIND and GENEROUS as I try to SAVE the SOULS of the SINNERS and Lib'rals... Yet, SammieGee and others are often reduced to pools of DROOL and slimey Leftist BILE as they pathetically whimper--ON-Forum--"I wish you would just DIE, MUD!!" or "Allah/God/Yahweh/GAIA should and/or SHALL strike you down where you stand, MUD!!" and, my personal FAVE, "Nobody should be allowed to MOCK the RAT-Messiah, you DisBeliever!!" I mean, you shouldda seen poor SammieGee on that one 4um thread...whatta friggin' NUTJOB...heh heh heh. I have that power, my FRiends...so does Badeye and TLBSHOW. It's a gift, but also a CURSE...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States, Nobody reads your crap and you're an asshole...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Indeed...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States, You responded to yourself, dickhead...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Do everyone a favor and keep your honest opinion to yourself.
I spend more time on FB than anywhere else on the web these days .... badeye
You ping people who don't even post here. Do you even know what site you're on?
" Think how dumb the average American is and then realize that half the country is even dumber" - George Carlin "And many of them run political websites" - Skip Intro
Sorry! But if you wern't such a eunuch, you might have had a chance of making me...
Some posters have such a high opinion of themselves that they like to imagine an entourage is waiting for them where ever they go.
It's the war, stupid.
If your "gift' was as you say, then there would be no need for you to leave your piss mark, drama queen, vanity threads on every site you go on. Really.... it seems more like a mental illness especially when you post support of your previous statements to yourself. lolol
It's the war, stupid.
Keep in mind he puts himself in the same league as TLBSHOW and badeye. It explains a lot.* *retardation
I spend more time on FB than anywhere else on the web these days .... badeye
I never saw much of TBLSHOW but Badeye definitely is a serial confabulator.
It's the war, stupid.
I've just been very busy for the past ten days or so, Murron. Too busy for the Island of Misfit Toy's here at LF....(laughing) I doubt any of the my anti groupies here actually find somebody pretending to be a veteran 'funny'. They just can't help themselves however, just because I noted its not amusing at all. Thats why they are 'anti groupies'. I'll drop in from time to time.
I can see NOVEMBER from my House....
lmao.
I can see NOVEMBER from my House....
Yes...and? I served. I'm proud of my service. I'm proud of my Honorable Discharge. You know a Vet that isn't?
I can see NOVEMBER from my House....
This is what you get for taking the anti groupie seriously, Grammar King. But hey, he 'shoots living things!' rotflmao.
I can see NOVEMBER from my House....
I'm either on filter or not, Boofer...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
You've always been a world class pussy. Sneakypete, have you ever been married? Said things you later regretted?
Hey there, Dr. Skippy...Y R U posting on THIS Forum?
"Devolve Power Outta the Federal Leviathan and Back to the States, "You've always been a world class pussy." Yep...and now EVERYBODY KNOWS!!
"Devolve Power Outta the Federal Leviathan and Back to the States, Bwahahahahaha...give 'em HELL, RG!!
"Devolve Power Outta the Federal Leviathan and Back to the States, I put the answer on the application form when I joined. Ask Stone if you can see it.
LOL...perfect, I'll dig up yer records...MUD
"Devolve Power Outta the Federal Leviathan and Back to the States,That might have been Badlie... flying gunships in Vietnam at the age of eleven. lol
#35. To: mininggold (#33)
and there was a guy no more than twenty five loudly telling a couple of Marines that he had flown a helicopter gunship in Vietnam
#36. To: no gnu taxes (#35)
#37. To: Badeye (#36)
#38. To: Abu el Banat (#37)
#39. To: Boofer, Abu el Banat (#38)
#40. To: Badeye (#36)
#41. To: Fred Mertz (#40)
#42. To: Badeye, war, Abu el Banat, Fred Mertz, Mudboy Slim (#39)
(Edited)
Badeye: "God, how I hate those that pretend to be Vietnam Vets. almost as bad as the one's that pretend they were 'SEALS'. Almost"
#43. To: Murron (#42)
(Edited)
#44. To: Murron (#42)
#45. To: Fred Mertz, Murron (#44)
#46. To: war (#45)
#47. To: Murron, war, Abu el Banat, Fred Mertz, (#42)
war, Abu el Banat, Fred Mertz,
#48. To: Fred Mertz (#46)
(Edited)
#49. To: Murron, Badeye, A K A Stone, TLBSHOW, Dakmar, Fred Mertz, mel, Palo Verde, Coral Snake, BorisY (#42)
Email: mbright@cows.org
Telephone: 608.262.4266...this is gonna be a HOOOt!! :laugh:
Joel Rogers has published numerous articles in academic journals, books, and popular magazines. To read a sampling of his work, click on the links below.
•Joel Rogers on Hurricane Katrina..."
•Both an Imperative and an Opportunity
•Cities: The Vital Core
• "Devolve This!!" (The Nation)
More articles by Joel Rogers.
Professor Rogers occasionally publishes guest editorials in newspapers throughout Wisconsin, as well as national publications. In addition, between February 2001 and August 2002, Joel Rogers wrote a regular column for The Capital Times, a Madison-based daily newspaper, as part of COWS' Sustaining Wisconsin grassroots education campaign. To read the columns or commentaries, click on the links below.
•"Take a Higher Road to State Job Creation," Wisconsin State Journal 2/29/2004
•"Progressives Should Vote for Edwards as Best on Issues," Madison Capital Times 2/12/2004
•"Progressives Should Vote Edwards!!" The Nation Online 2/8/2004
•"Little to Celebrate on Labor Day," Wisconsin State Journal 9/1/2003
As an expert on a variety of subjects, including presidential elections, political democracy, and the future of the labor movement, Joel Rogers is often interviewed– and his work is often cited– by local, national, and even international media outlets. To read some of the coverage, click on the links below.
•"Obama's Labour Play," The Financial Post (London) 4/6/2009
•"Union Bill's Declining Chances Give Rise to Alternatives," The Washington Post 3/29/2009
•"In Arkansas and elsewhere, economy stable," USA Today 2/26/2009
•"Making Money a Renewable Resource," Ode Magazine 12/3/2008
Localities, and Individuals as Prescribed in the US Constitution."
#50. To: Murron (#42)
"...why stick around with the same people for years who still spend their every waking moment, ganging up on you to see how much you can take?"
Localities, and Individuals as Prescribed in the US Constitution."
#51. To: Mudboy Slim (#50)
Becuz I like to see the RATS suffer as I routinely BLUDGEON them with my Wisdom and MUD's wit...MUD
#52. To: Murron, Samuel Gray, SammieGee, war, Rotara, Badeye, nolu_chan (#51)
(Edited)
"...it takes a very ugly person to do that year after year."
Localities, and Individuals as Prescribed in the US Constitution."
#53. To: Mudboy Slim (#52)
#54. To: war, SammieGee, Rotara, Dakmar, TLBSHOW, Jhoffa_, nolu_chan, buckeroo, Badeye, (#52)
"It's a gift, but also a CURSE..."
Localities, and Individuals as Prescribed in the US Constitution."
#55. To: Mudboy Slim (#54)
#56. To: Murron (#42)
#57. To: Mudboy Slim (#52)
#58. To: Abu el Banat (#56)
Do everyone a favor and keep your honest opinion to yourself.
#59. To: Skip Intro (#57)
You ping people who don't even post here. Do you even know what site you're on?
#60. To: Mudboy Slim (#54)
(Mudboy) "It's a gift, but also a CURSE..." Indeed...MUD
#61. To: mininggold (#60)
(Edited)
#62. To: Abu el Banat (#61)
Keep in mind he puts himself in the same league as TLBSHOW and badeye. It explains a lot.*
#63. To: Murron (#42)
#64. To: Murron (#58)
#65. To: Fred Mertz (#44)
he wears his Navy service on his sleeve.
#66. To: Fred Mertz (#46)
#67. To: Boofer (#66)
But hey, he 'shoots living things!' rotflmao.
#68. To: war (#67)
#69. To: Skip Intro (#57)
Localities, and Individuals as Prescribed in the US Constitution."
#70. To: Ibluafartsky, war (#68)
To: war (#67)
Localities, and Individuals as Prescribed in the US Constitution."
#71. To: Murron (#58)
"...if you wern't such a eunuch, you might have had a chance of making me..."
Localities, and Individuals as Prescribed in the US Constitution."
#72. To: Mudboy Slim (#69)
Hey there, Dr. Skippy...Y R U posting on THIS Forum?
#73. To: Skip Intro (#72)
Localities, and Individuals as Prescribed in the US Constitution."
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