Q3 Reports and Company Results

Wall Street is about to say ' Bye Bye Rally '. Today investors disappointed with BofA, GE and IBM Q3 results. These results gave investors a reason to retreat after pushing the Dow of 10.000.

Bank of America reported a third-quarter loss of 26 cents per share, which was worse than the loss of 21 cents per share. BofA also fell behind expectations on revenue, reporting $26 billion for the third quarter, compared forecast of $27.6 billion. BofA shares fell nearly %6.

General Electric reported earnings of 28 cents per share, which was higher than expected, and revenue of $37.8 billion, which was lower than forecast. Analysts had expected GE to report third-quarter EPS of 20 cents and revenue of $39.5 billion. Investors were disappointed as most of the profit gains came from cost-cutting efforts. GE's stock slipped nearly %5.

But Google's upbeat outlook provides some strength. Google said Thursday the worst of the recession has passed, as it reported quarterly profit and sales that rose from year-earlier results and easily trounced Wall Street's forecasts.

So we are looking for future and waiting situation before new year. Markets will finish rally that easy? I dont think so.

( Source : http://money.cnn.com )