Although news of SEC charges against Goldman Sachs became the dominant story on Wall Street on Friday, the focus on investors for much of the past week was on the handful of companies that kicked off another critical earnings season. With the market recovering much of the ground lost during the recent recession, many investors were anxious to see how improved economic data had translated to profitability at industry bellwethers. The first week of earnings season was a mixed bag, with some big names reporting stellar results and outlooks and others falling short of expectations. While earnings reports are company-specific developments, they can often provide insight into macro economic trends and the outlook for an industry.
Below, we highlight five sectors that were especially volatile this past week, including two clear winners, two clear losers, and a mixed sector on which the jury is still out. [click to continue…]
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