Posted At : October 19, 2009 10:25 AM
Intel and JP Morgan reported spectacular earnings, sales above expectations and rising margins. Additionally they rose 4th quarter guidance for more of the same! The best part was top-line revenue showed some growth. I’ve been saying for a while now that top-line was the key as you can only cut costs so much. Technology certainly seems like the big beneficiary of the increased layoffs as companies scramble to spend on technology to replace bodies. Retail sales also came in better than expected (from depressed expectations) but by no means great. Consumer spending is the key. The continuation of this Echo Boom rally will depend on it.
Regards – Keith Springer