Goldman Sachs: Fourth-quarter earnings guidance bleak across most sectors

A Goldman Sachs report on third-quarter earnings season so far shows that with 34% of the S&P 500 having reported third-quarter earnings through Oct. 19, revisions to fourth-quarter earnings are negative for seven of nine sectors. Only the financials and the telecom sector have revised projected fourth-quarter earnings upwards while information technology, energy and materials firms have all revised earnings downward by more than 2%.