"Full speed ahead"
Recall last week, that General Electric beat Wall Street estimates by posting "ONLY" a -12% decline in annual revenue. Were it not for soft forward guidance, the stock would have been up yuuuge...
This is what the average bag holding doorknob is told to believe:
"I just bought better than expected earnings!!!"
Today's leading stock is Caterpillar. But don't take my word for it:
"When you're talking about construction equipment coming back without an infrastructure bill. When you talk about favorable price realization for energy without oil above $50. How many people did these guys get rid of?"
In other words, there is no infrastructure bill and there is no oil price above $50. There is only downsizing so the Idiocracy can squeeze more earnings from less revenue, all while hegemonic geniuses ponder why wages are not rising. Blame Obamacare.
"When revenues go to zero, imagine the profits!!!"
Here's another mega lie sold to geriatrics who can't remember where they were yesterday:
"In our view ... these meetings were aimed at saving face and diverting the market's attention away from Iraq's poor compliance, shale's resilience and Libya's and Nigeria's markedly higher output"
Put it all together and we get Wall Street b.s that is massively leveraged to OPEC b.s.
The chart Wall Street never wants us to see
I had to create this index myself, because aggregate revenue is not published anywhere on the internet. It's always stated per share to cover up stock buyback alchemy.
Here we see S&P 500 total revenues (revenues per share * divisor). Contrary to Idiocratic belief, revenues are going down again, not up.
If we can trust OPEC, then we can trust S&P 500 revenues: