Friday 7atSeven: eroding expectations

Thanks for checking in with Abnormal Returns for seven (or so) links at 7AM Eastern.  Good luck out there today.

Earnings expectations are already baked into stock prices.  (Pragmatic Capitalism)

Investors are now wary of putting more money with Pimco.  (MarketBeat)

Checking in on the credit risk of ETN issuers. (IndexUniverse)

Absolute return‘ is a marketing phrase, not an actual strategy.  (InvestmentNews)

Now the BRICs are going to back the IMF not the Eurozone.  (beyondbrics, FT)

Technology

How does Google ($GOOG) make its money?  (SplatF also Bloomberg)

Microsoft ($MSFT) closes the Skype acquisition.  (AllThingsD, TechCrunch)

Distributed computing, i.e. iCloud, is an expensive proposition.  (Asymco)

The Hulu sale is a no go.  (TechCrunch, Dealbook)

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