Earnings, Revenues, & Margins

(1) The “January Effect” is coming. (2) A scatterplot. (3) Another earnings season is starting. (4) Why it may not matter. (5) Analysts forecasting double-digit earnings growth. (6) Can 5% revenues growth produce 10% earnings growth? (7) Global PMIs confirming moderately upbeat outlook for revenues. (8) Emerging Markets PMI is rebounding. (9) However, NERIs are still negative. (10) Analysts predicting rising margins. (11) Margins could suffer if companies expand payrolls and capacity more rapidly. (12) For now, business spending on labor and capital lowest relative to GDP since early 1950s.