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| As of Friday, November 6th: |
As of October 1st, the earnings growth rate was at -24.8%.Of the 440 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 -14.8%. (Data provided by Thomson Reuters)
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JCPenney said Friday third-quarter profit fell as same-store sales for the period fell 10 percent.
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The department store operator [JCP
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] also issued a forecast for the fourth-quarter that is lower than analysts were expecting, and warned that it expects challenging conditions to persist well into 2009.
The company said it is well-positioned in the current environment.
JCPenney's third-quarter profit fell to $124 million, or 55 cents a share, from $261 million, or $1.17, a year earlier.
Sales fell 8.7% to $4.32 billion.
The company forecast fourth-quarter profit of 90 cents to $1.05 a share with sales declining as much as 9%.
Analysts, on average, estimated the department store operator to earn 53 cents a share in the third quarter and $1.32 for the fourth quarter, according to Thomson Reuters.
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- EA Profit Beats Street, Announces Job Cuts
EA posted earnings on Monday that declined compared with last year, but profit topped analysts' forecasts. The company also announced layoffs of 1,500 positions in another round of restructuring and shares rose in extended trading.
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Data is a real-time snapshot *Data is delayed at least 15 minutes