The Standard & Poor’s 500 is on its way to the first quarter it has had — the data goes back to 1936 — in which the companies in it will report overall losses rather than profits.
Howard Silverblatt, S.&P.’s index maven, reports that with almost three-quarters of the companies in the index having reported fourth-quarter numbers, the loss per S.&P. share is now $6.32. Most of that is write-offs, not operating losses, of course, and over all the companies are reporting operating profits.
What price vs. earnings ratio...?
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