It's earnings season once again.
When asked what he expected from earnings season, Stephen Guilfoyle, Real Money contributor, weighed in on what he's expecting to see from the upcoming earnings season.
"Contraction and pretty nasty contraction at that. Don't forget, we've already had two consecutive quarters of contracting earnings growth, so we are already in an earnings recession. This one should be if you believe FactSet, we are looking, maybe down 3.7% or something like that as far as earnings go and it's really going to be, there's going to be winners and losers. The losers are going to be those more internationally exposed. The winners are probably going to be more those more domestically exposed, but overall, on the surface, it looks like a pretty lousy season. Now don't forget traders and investors, you don't have to perform well. You just have to beat expectations. So I mean you've seen a number of issues that have come up with various stocks and you're like, well, you know they missed on the numbers. That revenue is not that great. What's going on here? And then you realize that they had really lowered expectations or analysts or lower expectations and they beat the lowered bar, which is what we have coming in. We're coming into a season with a lowered bar," said Guilfoyle.
Watch to see what Guilfoyle thinks about the October 10 trade talks.
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