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Investing

A Farewell To The Earnings Season

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By Douglas A. McIntyre Published

A lot of smaller companies will continue to report earnings over the next several weeks, but almost all of the really big companies which are on calendar fiscals have put out their fourth quarter and full-year numbers.

The general impression of the season is that it was the worst in years. Certainly companies that the market has come to count on like Apple (AAPL) and McDonald’s (MCD) let investors down.

But, the remarkable thing is that the market does not see earnings as having been a calamity, at least not as investors can tell from the stock market. The DJIA is only off 5% over the last three months. The S&P 500 is off less than 6%. The Nasdaq is down closer to 10% but some of the large stocks in that index has been hit very hard.

The components of the DJIA include some stocks which have had very messy years. That certainly includes GM (GM), Wal-Mart (WMT), JP Morgan (JPM), and Citigroup (C). Even with those companies in the mix, the Dow has held its own because of firms like AT&T (T), P&G (PG), and Disney (DIS).

A bad earnings season? In the headlines, yes? But, not when Wall St. looks at its favorite indexes.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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