Earnings Announcements, Forecasts Power Share Prices

Oil Daily, The, October, 2002

Earnings Announcements, Forecasts Power Share Prices Gainers and Decliners

Earnings announcements for the third quarter, or at least forecasts for forthcoming earnings announcements, were the catalysts behind the week's biggest share price gainers and decliners last week, according to data compiled by John S. Herold.

The overall equity markets enjoyed their second straight week of gains, after posting losses for the previous six weeks. The Dow Jones Industrial Average rose 6%, Nasdaq climbed 6.4%, and the S&P 500 index of blue chips jumped 5.9%.

Continued Iraqi tensions and crude inventory builds hit the oil markets last week. On the New York Mercantile Exchange, front-month crude closed at $29.60 per barrel on Friday, up 23cents from the previous...