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James B. Stewart '73 Analyzes Wall Street's 'Earnings Jitters' for SmartMoney

August 1, 2006

james b stewart.jpgAugust 1, 2006, Greencastle, Ind. - "They call this a 'good' earnings season? I'd hate to see a bad one," writes James B. Stewart, editor-at-large of SmartMoney and 1973 graduate of DePauw University, in his "Common Sense" column at the magazine's Web site today. "Last week I discussed Yahoo (YHOO), which was slammed after it met earnings expectations but delayed the introduction of its revenue-enhancing search upgrade. I thought the ensuing 20% plunge was an overreaction, an anomaly. It turns out it was just a warm-up for at least a week's worth of punishment."

Stewart, best-selling author of DisneyWar and Den of Thieves and chair of DePauw's Board of Trustees, won a Pulitzer Prize for his work as front page editor of the Wall Street Journal. He declares, "Usually I like to watch the ticker while jogging on a treadmill, but last week it seemed every time I looked up I had to cringe. Instead of relatively minor moves, there was one crushing blow after another to stocks I own, have owned, or was thinking of buying. I could tell who had just reported earnings by the big percentage declines."

Read the complete column, "Earnings Jitters," by clicking here.

James B. Stewart recently won the Loeb Award, the highest honor in business journalism. Learn more in this previous story.

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