31.   Colombian stocks rose for the fifth straight day on lower interest rates and the perception that companies remain inexpensive in relation to their expected earnings.

32.   Colombian stocks rose to a record for a second day, paced by cement companies, as foreign investors bought shares they considered inexpensive relative to expected earnings.

33.   CSI, which makes instruments to detect malfunctions in machinery, blamed its expected earnings on slow international sales.

34.   Daniel Kunstler, an analyst with J.P. Morgan, said Apple delivered better than expected earnings in spite of revenues that fell at the low end of estimates.

35.   Earlier in the week, companies warned of lower than expected earnings for the current quarter.

36.   Fleet Financial Group Wednesday reported better than expected earnings for the second quarter, the result of both cost cutting and a respectable rise in loan growth.

37.   He also declined to answer questions about expected earnings or financing, saying only that Natuna and Pertamina will find the capital individually.

38.   I would say mid- or upper-single digits, in line with expected earnings growth.

39.   In addition, the bank is also seen as attractive because it is considered inexpensive relative to expected earnings.

40.   In general, the state discourages the private enterprises by taxing them heavily on expected earnings rather than on actual sales.