But the way that change was made will feed the same amount of profits back into earnings over the next decade or so.

That means companies with foreign competitors, like the auto makers, will face pressure on prices at home, which could cut into earnings.

Such an expense, in turn, would cut into earnings.

So they are converting cash flow into earnings, which will help their stock price.

The strong sales numbers are expected to translate into good earnings.

Rising rates threaten to slow economic growth and, therefore, cut into corporate earnings.

But meanwhile these changes would cut into corporate earnings.

These numbers translate into long-term earnings growth rates of 15 to 20 percent a year.

The stock fell in heaving trading as the company said the deal would cut into earnings for at least the next two years.

But the big advertising costs will cut deeply into earnings, they say.