1.   Analysts who think the market is overdue for a decline contend that stocks have been driven by speculative buying above the prices justified by earnings.

2.   And there were signs that investors believed stocks already have been pushed down farther than their earnings would justify, poor as those earnings may be.

3.   Australian stocks fell for a second day Friday amid concern the price of shares may be higher than their earnings justify.

4.   Australian stocks fell for a second day after setting a record high earlier this week amid concern the price of shares may be higher than their earnings justify.

5.   Bank stocks dropped amid concern their price may be higher than their earnings justify.

6.   But signs indicate that the climate of unlimited forgiveness is changing, that imagined future earnings may not justify sky-high stock prices.

7.   Colombian stocks fell amid concern the prices of Banco de Bogota SA and brewer Bavaria SA exceed what earnings will justify.

8.   Computer-related issues like Cognos Inc. and Corel Corp. may fall on concern third-quarter earnings may not justify current share prices, analysts said.

9.   Higher earnings justify higher stock prices.

10.   Investors, however, have to ask whether corporate earnings justify current stock prices.