BlackRock’s Doll: S&P Earnings Estimates Too Low; Market Bottoming Process Ending

BlackRock Vice Chairman Bob Doll tells CNBC that, while the economy isn’t good, “some [analysts] have gone too far to the negative side,” and says that those analysts who have estimated $40 in per-share S&P 500 earnings for 2009 “are going to have to raise their numbers.” “Two months ago, it looked like a black hole,” Doll said. “Now, we have a much more balanced picture.”