Evergreen Investments' Market Update - August 17, 2009
Evergreen Investments' Chief Market Analyst, John Lynch, provides us with another insightful look into recent market and economic outlooks.
"The equity markets have surged throughout the summer months as second quarter earnings failed to meet dire expectations. The trend for the vast majority of companies has been to exceed projections from an earnings standpoint, while failing to achieve top-line forecasts. The lack of revenue gains suggest that businesses have been able to dramatically cut costs, particularly wages, as the recession deepened and the unemployment rate escalated."
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