Brett Gallagher Earnings Quotations

We've seen more bad news than good news on the economic front over the last few weeks, but the market has been trading higher. Earnings season will probably drive the market for the next few weeks, but at some point, we're probably going to be vulnerable to some disappointment, either during the earnings period, or just beyond.

One positive is that S&P earnings so far have looked better than the year-earlier period. Granted, comparisons are a lot easier as companies take less write-offs, but it's still something that's encouraging. I don't think we're going to have a big profit recovery, but we'll have the appearance of improvement.

It is a little bounce and it's not to be unexpected given how much the markets sold off last week so I wouldn't read too much into this. Earnings are going to be very important to help set the tone, but the out quarters are still very much at risk and those estimates have not come down to the extent I think they should.

I thought the reason for core earnings was to present a picture of what earnings from ongoing operations really look like. But because of this one factor, and because it's going to introduce so much volatility, nobody is going to use it.

Today's earnings quality is less than in the past.

The quarter is starting off pretty rough. We're heading into earnings season and I don't think anyone is expecting anything good.

This is a market that has no confidence. Corporate confidence is shot, confidence in earnings is shot, and confidence in Wall Street analysts is gone. Only time is going to heal that.

As we kick off earnings season, it's going to be important what these companies are saying. Estimates are down so low, that if companies keep disappointing, markets are gonna have a big hurdle to overcome.

It's always been the case of something you suspect but have never been able to prove. Earnings seem improbably smooth when you look at the businesses of the company.

Investors have been ignoring earnings and looking forward, pretty much discounting the third quarter and looking to early 2002. I don't see any major roadblocks on the horizon for now. We have staying power in the very short term.

The majority of earnings have been good, but there have been some misses and the market has reacted violently to them. This is a week that has put me on alert.