Morningstar on the Market: Week through 07/21/00
Which stocks are hot, and which are not.
Investors spent a busy week ingesting the torrent of earnings news that came down the pike, looking for the winners and pummeling the poor performers.
That's not to say, however, that this formula was set in stone. So far, the second-quarter earnings season is as much a tale of good news not being good enough, as investors have punished a number of names after meeting or even exceeding expectations. With many stocks at high valuations amid an average 16.9% increase in corporate earnings for the quarter, the shares of any company that didn't beat the pants off expectations were likely to suffer.
Mark Anderson does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.