The results from Intel were better than the estimates of analysts, and so were the results from JP Morgan chase. But the results from Bank of America was totally disappointing when the bank reported a massive one billion US dollars loss for the September 2009 quarter, due to major write offs for bad debts across segments.
The results from Goldman Sachs was again exemplary and the company is all set to fight it out with the US government for the record bonus amounts to be paid out to the employees.
But the results from General Electric was far below the analyst estimates when the sales was down by nearly 20%. And the profits slided at a massive 45 percent due to decline in real estate and consumer lending activities. The immediate outlook is also not so rosy for General Electric, while Goldman Sachs is expecting to improve the performance in the current quarter.
The results from Citi group is also way below the expectations of the investors and it may take a longer time to get back to good health. There is even a possibility for the Citigroup to go the Lehman Bros way, if the US economy were to falter again in the coming months.
So overall, the results from various US biggies are not that rosy, and investors would do well to wait for some more clarity on the economic front, before putting in their hard earned money in stocks and corporate bonds.
US biggies post mixed results
October - 16 - 2009 - Friday
