Wednesday, January 7, 2009

Andy Warhol Guns

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The mix includes several pharmaceutical companies such as Eli Lilly and Co (LLY.N: Quote, Profile, Research), Pfizer Inc (PFE.N: Quote, Profile, Research), Wyeth (WYE.N: Quote, Profile, Research) and Johnson & Johnson (JNJ.N: Quote, Millen said that in latest crop of earnings reports, companies deriving earnings from overseas sources will have an edge.
"Any company that is largely depending on their revenues coming exclusively from the U.S. is subject to potential earnings warnings going forward," he said.
The Dow Jones industrial average (.DJI: Quote, Profile, Research) finished the Profile, Research).Bob Millen, co-manager of The Jensen Portfolio, a Portland, Oregon-based mutual fund, said that, rather than actual earnings for the recently completed third quarter, companies' forecasts of future profits will be more crucial."I think what is probably going to move the market more is how many companies lower their earnings expectations going forward," he said. "If there are a significant number of them, I don't think the market will treat that very kindly."

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