Fiscal incentives and stimulus trigger UAE stock markets’ rally – Gulf Today

Fiscal incentives and stimulus trigger UAE stock markets’ rally – Gulf Today

Twitter Inc last week pulled its first-quarter revenue outlook and forecast an operating loss, while Marriott International Inc and FedEx Corp have backed away from 2020 forecasts.. Consensus estimates like Refinitiv's have not come down nearly as much as forecasts from some market strategists.. Analysts' forecasts are understating the earnings contraction, he said, estimating a 24.1% drop in aggregate 2020 operating earnings for the S&P 500 index .. Last week, David Kostin, Goldman Sachs' chief US equity strategist, cut his 2020 earnings per share view for the S&P 500 to suggest a 33% decline from 2019.. Without guidance, the number of companies that beat Wall Street analysts' estimates is likely to be well below the 70-80% of recent years, said Nick Raich, chief executive of The Earnings Scout, an independent research firm. ".