Thursday, May 08, 2014

Companies: Obamacare is hurting our profit

USA Today reports:
Companies find all sorts of excuses during earnings season for disappointments, with the weather being an all-time favorite. But some companies are finding a new scapegoat: Obamacare.

Thirty companies in the Standard & Poor’s 500, including United Parcel Service, General Electric and retailer Dollar General, have mentioned the Affordable Care Act during their conference calls since March 1 and all through the first-quarter earnings season, says John Butters, analyst at financial data research firm FactSet. That’s a healthy cross section of companies if you consider that so far, 446 companies in the S&P 500 have reported first-quarter results.
Even GE! No word yet from MSNBC on this story.