What profit? Anemia worsens in S&P 500 as economy’s bounty thins

The S&P 500 just posted a third quarter of year-over-year earnings growth. But in the shadow of the rebound is a trend that has been worsening for more than two years: a rising number of profitless companies. About 10 percent of stocks in the benchmark gauge have posted losses in the last 12 months, an uncharacteristically large portion that has no precedent since 2010, according to data compiled by Bloomberg. What’s to blame? Energy companies are a culprit, unsurprisingly. Of bigger concern are...

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