Bleak Q2 Earnings As Expected, Metals & IT Dive

The recent decline in earnings growth estimates for the second quarter is in alignment with negative guidance given by companies, reports Thomson Reuters. Greg Harrison of Thomson Reuters in the earnings roundup report for the second quarter observes there have been 96 negative pre-announcements and only 14 positive ones among the S&P 500 companies making pre-announcements. Conservative Earnings Estimates With the first S&P 500 companies starting to report their second-quarter results, Greg Harrison feels the earnings estimates will be conservative in an environment of low expectations. Thomson Reuters’ report comes on top of earlier reports from various analysts expecting negative results…