The fundamental workshop for assessing stock valuations also came under negative purview. Within the DJIA thirty, McDonalds (NYSE:MCD) posted its first monthly sales drop in nine years; Disney (NYSEIS) results met earnings forecasts but came up short on sales; Boeing (NYSE:BA) announced cuts to its defense operations, cutting management jobs and closing California facilities. The latest quarterly posting proved less than ideal, and according to a Goldman Sachs (NYSE:GS) note out yesterday, earnings conference calls among 86 of the S&500 firms expressed concerns for the fiscal cliff challenge, slowing global growth and narrowing profit margins, with fourth quarter outlooks weak among many. |