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Column: Stop with the earnings estimates
Jul 28 2006 2:55PM (CT)
NEW YORK (AP) - The gaming of company earnings is so widespread and pervasive, it has created a condition known as "the cockroach effect." When a company that usually meets earnings estimates misses a quarterly target by a penny, the stock gets creamed. The reason: Investors assume it used every trick in the accounting rule book to get that close, yet still failed.
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Big firms advising/investing in buyouts
Jul 28 2006 12:03PM (CT)
NEW YORK (AP) - Merrill Lynch & Co. Inc., best known for its retail brokerage network, has also become a powerful player as an investment banker for companies looking to buy other firms or sell parts of their operations. This week, the firm took on a new and potentially troubling role in the massive buyout of hospital chain HCA Inc.
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