Netscape gets its chance to strike back today, but beware: If their third-quarter earnings are anything less than the 12 cents a share analysts are expecting, their stock could actually sink - trust-busting in Washington notwithstanding. Also reporting today are Philip Morris, Pepsi, Exxon, Amoco and Goodyear. If all post good profits as expected, Wall Street may sing again.
How did Microsoft manage to defy the bad news from the Justice Department and end Monday with their stock up by 25 cents a share? Simple - as Money Daily reports, they were part of the earnings boom on Wall Street. Microsoft, IBM and Eli Lilly (makers of Prozac) all posted better-than-expected third-quarter profits.