Wednesday, October 6, 2010

Earnings Season Begins with a Public Execution

Joshua Brown at Forbes.

For the seventh straight quarter, stocks raced higher into earnings season, which for 3rd quarter, officially kicks off tomorrow with the Alcoa (AA) report. Today’s action in the cloud computing names does not bode well for companies with shortfalls to announce.

Equinix (EQIX), a cloud hosting data center company, missed revenue by 2.2% and is currently getting schmeissed to the tune of 30% on the day!

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