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- why you should avoid Avon and Herbalife.
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What's Truly Amazing About this Market
Posted at 9:35 p.m. EDT on Friday, April 26
Now, think about it.
Think about who has disappointed this quarter. First, obviously, there is Apple
, with a quarter that is now regarded as the benchmark of bad quarters with the most downgrades and price target cuts of any this year.
Apple used to be the largest-market-capitalization company there is, before passing the torch back to ExxonMobil
, which, yes, reported the worst quarter so far of any oil company.
Then there is IBM
, the bellwether tech company of the Dow Jones with a hugely disappointing report that drove the stock down 22%, or 10% in a couple of days' time.
Or how about Amazon.com
? Is there a more important retailer save for Wal-Mart
out there? I don't think so, and yet its report struck people as sorely wanting and the stock got pummeled for almost $20.
, one of the cornerstone industrials out there, which reported a heavily disliked quarter and then gave you a forecast cut that sent shudders down peoples' spines; spines of those who are used to this company's consistent earnings growth. It got dinged again today after being clipped hard on Friday's report.
Then there's AT&T
, the largest phone company, which gave you a quarter that sent the stock down the hardest I can ever recall it getting hit in one day. Just a nasty decline for the $200 billion behemoth and the commentary made you feel that there's no real growth there at all.
But it wasn't as horrid as the quarter Procter & Gamble
, the one that dropped the stock to $76 from $82 before it stabilized today. Procter, at $200 billion, is the largest consumer-products company out there and it was just a nasty report.