Last night, in a spontaneous moment of clarity, the ZH brain trust tweeted the following:
Tomorrow on deck are revenue misses from CAT, TXN, FCX, BTU and others
So far we had our first “others” when Hasbro missed the topline, printing revenues of $1.35 billion vs expectations of $1.38 billion, but more importantly here comes CAT, with a whopper of a topline miss, worse than even the recent preannouncements could predict.
- CAT REVENUES $16.45 BILLION, EXP. $16.74 BILLION, EPS$ 2.54, EXP. $2.22
- CAT SEES 2012 EPS $9.00-$9.25, PREVIOUSLY HAD SEEN $9.60
- CAT SEES 2012 REVENUES OF $66 BILLION, PREVIOUSLY HAD SEEN $68-70 BILLION
The reasons for the collapse in near-term hope:
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