News: Analysis & Commentary: PROFITS

A TURNING POINT FOR CORPORATE EARNINGS

Looking for signs of a slowdown? The 86 companies in BUSINESS WEEK's flash report on second-quarter profits saw earnings fall 6% on a mere 1% uptick in revenue. Indeed, at Texaco Inc., a 30% drop in sales led to a 40% profits plunge. But excluding abysmal results at General Motors, Compaq, and Motorola, quarterly profits rose 14%. Good news came from SBC Communications, Ameritech, and Chrysler.