NEW YORK, NY--(Marketwire - Oct 16, 2012) - The S&P 500 Index has clumped for 4 consecutive days as the International Monetary Fund have cut its global growth forecast. The IMF forecasts the global economy will expand by 3.3 percent in 2012, down from their previous estimate of 3.5 percent. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Fifth Third Bancorp (
Aggregate profits for companies in the S&P 500 are expected to decline in the third quarter for the first time in three years according to analysts' estimates collected by Bloomberg. The data has showed that earnings per share and sales are expected to drop on average 1.7 percent, and 0.6 percent, respectively.
"Weaker economic data over the past 12-18 months has steadily eroded the growth outlook," said Jonathan Golub, a strategist at UBS "Unfortunately, this weakness is relatively broad-based. More specifically, earnings are now expected to come in lower than 3Q11 in 5 of 10 sectors, with the greatest contractions in Energy and Materials."
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Fifth Third Bancorp is a diversified financial services company with $118 billion in assets. Fifth Third is scheduled to release their third quarter 2012 results on October 18, 2012. The company offers investors and annual dividend of $0.40 per share for a yield of roughly 2.6 percent.
As of June 30, 2012, SunTrust had total assets of $178.3 billion and total deposits of $128.4 billion. SunTrust Banks are scheduled to release their third quarter 2012 financial results on October 22, 2012. SunTrust has accelerated the termination of the agreements regarding the shares owned in The Coca-Cola Company, which will generate a third quarter pre-tax gain of approximately $1.9 billion.
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