| As of Friday, November 13th: |
As of October 1st, the earnings growth rate was at -24.7%.Of the 463 S&P 500 companies who have reported Q3, 80% beat estimates, 6% were in-line, and 14% were below estimates. The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -13.8%. (Data provided by Thomson Reuters)
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Fannie Mae posted a third-quarter net loss that was double its loss from a year earlier because of slumping home prices and the squeeze in credit markets that drove values of mortgage securities lower.
Fannie Mae [FNM
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] , the largest source of mortgage financing in the United States, said its third-quarter loss widened to $1.52 billion, including preferred stock dividends, or $1.56 per share, from $760 million, or 79 cents per share, a year earlier.
Friday's filing marked a return to current financial reporting for Fannie Mae since it was shaken by an accounting scandal in 2004. The company has promised to return to timely reporting with its annual report to be offered in February 2008.
In its filing with the Securities and Exchange Commission, Fannie said it expected a housing sector downturn to lead to a further decline in new mortgage loans in 2008.
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- JC Penney Profit Falls, but Shares Up on Forecast
U.S. department store operator JC Penney forecast earnings for the holiday quarter that could surpass Wall Street expectations, and its shares rose about 8 percent on Friday.
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Walt Disney shares rose in after-hours trading Thursday after the company reported earnings and revenue that beat analysts' expectations.
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Nordstrom reported earnings that missed analysts expectations by a penny but beat on revenue, causing the company's shares to fall in after-hours trading.
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Data is a real-time snapshot *Data is delayed at least 15 minutes