Wall Street's Profit Parade

  • Share
  • Read Later
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.

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.