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Article: Investors anticipate lackluster earnings
- Article from:
- New Haven Register
- Article date:
- April 7, 2009
- Author:
CopyrightCopyright 2009 New Haven Register. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK -- Wall Street pulled back Monday as investors took
profits following a four-week rally, fearful of poor earnings
reports starting this week and more trouble for banks. Investors
were also disappointed that talks for IBM Corp.'s $7 billion deal to
buy Sun Microsystems Inc. have stalled -- a sign that the market is
still not ready to support big mergers. Financial shares sold off
after a prominent analyst predicted more losses at banks and said
the government's efforts to prop up the ailing industry might not be
as effective as hoped.
The market was already on edge about the coming parade of first-
quarter results, which kicks off today with aluminum producer and
Dow component Alcoa ...