The stock market's doubling in less than three years is said to reflect growing earnings and a sound economy.

Much of that cut was a result of a 35 percent drop in bonus expense, reflecting reduced earnings.

Both are good values because their share prices don't fully reflect earnings from recent acquisitions, Mr. Nelkin said.

The total for 1983 reflects higher earnings by Mrs. Dukakis, campaign aides said.

The balance on investment earnings shifted into a surplus of $2.46 billion, reflecting improved earnings by Americans on their overseas investments.

That high multiple reflects tiny earnings.

The bulk of the revision reflected higher foreign earnings, initially estimated as far weaker.

The move reflects an improved economic outlook and better earnings for many smaller stocks.

As a result, many high-tech stocks became grossly overvalued, their price reflecting anticipated future earnings rather than a solid financial track record.

The rating rise reflects S.& P.'s expectations of better cash flow and other earnings protection measures.