Oops! an excuse for profit taking

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Spoiler Alert: Q4 Earnings Estimates Are Too High
Oops! Earnings Season Brings Plenty of Excuses
CNBC


Fourth quarter earnings growth was tepid at best, as Sandy and the "fiscal cliff" gave companies plenty of excuses for sluggish revenue growth and weak profits.

Traders work on the floor of the New York Stock Exchange on Monday. REUTERS/Brendan McDermidThe S&P 500 companies are expected to post earnings growth of 2.8 percent for the fourth quarter, up from the barely positive 0.1 percent growth in the third quarter, according to Thomson Reuters. Some analysts say that after the market's big run, earnings could provide an excuse for profit taking, as investors assess the forward comments of companies that have so far been fairly quiet about the outlook for 2013.