While Costco appears to be seeing improvement in their operating margins, we feel that severe weather that blanketed much of the nation over the last few weeks could limit any upside surprise.
Investors should be encouraged that IBM’s management team is openly optimistic that these strong earnings performances will continue this quarter and into 2010.
An improving credit environment will result in strong earnings from JP Morgan in the fourth quarter that will exceed Wall Street’s expectations for the eighth consecutive quarter.
While the global economic headwinds may be abating, Procter & Gamble is still struggling to recover from market share losses suffered over the last few quarters.