SOURCE: Paragon Financial Limited

Paragon Financial Limited

October 18, 2012 08:20 ET

S&P 500 Profit and Sales in the Third Quarter Expected to Decline for the First Time in Three Years

The Paragon Report Provides Stock Research on General Electric and The Coca-Cola Company

NEW YORK, NY--(Marketwire - Oct 18, 2012) - The S&P 500 Index has been in a slump after the International Monetary Fund cut its global growth forecast. The IMF forecasts the global economy will expand by 3.3 percent in 2012, down from their previous estimate of 3.5 percent. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on General Electric Company (NYSE: GE) and The Coca-Cola Company (NYSE: KO).

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Aggregate profits for companies in the S&P 500 are expected to decline in the third quarter for the first time in three years according to analysts' estimates collected by Bloomberg. The data has showed that earnings per share and sales are expected to drop on average 1.7 percent, and 0.6 percent, respectively.

"Weaker economic data over the past 12-18 months has steadily eroded the growth outlook," said Jonathan Golub, a strategist at UBS. "Unfortunately, this weakness is relatively broad-based. More specifically, earnings are now expected to come in lower than 3Q11 in 5 of 10 sectors, with the greatest contractions in Energy and Materials."

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General Electric is scheduled to release their third quarter 2012 results before market open on Friday, October 19, 2012. According to earnings estimates from Zacks, analysts project the company to report a profit of 37 cents per share, an increase from 31 cents in the year-ago quarter, with revenues of $36.81 billion for the third quarter.

Coca-Cola reported their third quarter earnings increased 3.9 percent, but their growth in China showed signs of slowing as sales volume increase only 2 percent. "As we look ahead to the next six months, it is reasonable to expect that China's ongoing economic slowdown may have a short-term effect on our industry and on our business," Chairman and Chief Executive Muhtar Kent said on an earnings call.

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