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Something's Gotta Give
Earnings forecasts typically follow a quarterly pattern: they rise from trading day six to day 36 of the new quarter as companies release results for the recently completed quarter, often beating prior estimates for the past quarter and providing higher guidance for earnings in the quarters ahead. So far, the third quarter earnings reporting season has seen the fewest upward revisions to Wall Street analysts' earnings per share (EPS) estimates compared to the prior four quarters. Analysts have raised estimates for nearly 100 fewer companies than the average of the past four quarters and downwardly revising estimates ... (full story)