Wall Street earnings estimates may not foretell currency impact
While companies have issued forecasts mentioning "currency headwinds," most Wall Street analysts are not updating their estimates to reflect those rapidly moving exchange rates. North American public companies could give up more than $25 billion in revenues and 7 cents per share in earnings in the first quarter alone because of currency-related volatility, said Wolfgang Koester, chief executive of FiREapps, a foreign exchange data analytics firm in Phoenix, Arizona. Monsanto Co is one
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