Goldman cuts S&P 500 EPS view
Goldman cuts S&P 500 EPS view - DJ reports Goldman Sachs cuts its estimate for S&P 500's operating EPS for 2008 to $55 from $65, its fourth estimate cut from $76/share less than three months ago.
"The pace of economic deterioration has been sharp and startingly fast," co says.
"The speed and magnitude of contraction in domestic business activity, consumer spending and foreign demand has shocked even veteran market observers."
The bottom-up forecasts for S&P 500's 2008 earnings, which are habitually too optimistic, stand at $69/share.
Learn technical analysis