At least one analyst anticipates that the iPhone 5 sales will be far below expectations.

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Gerra writes that a key issue for SanDis is that NAND flash content in ultrabooks is tracking far below expectations, with an average of 32-40 GB, rather than initial speculation of 128-256 GB, as consumer opt for models with hybrid drives that still include spinning media rather than shunning traditional hard drives altogether.

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The Dow, looking like it was ready to take a running jump off a cliff Wednesday morning when manufacturing data for New York state and its surrounding areas came in a far cry below the expectations, is taking the disheartening news in stride.

FORBES: Weakening Consumer And Manufacturing In U.S. Dishearten Markets

Meanwhile, less than one quarter of IPOs so far this year have priced below expectations, also the lowest rate in at least 10 years.

WSJ: IPO Pricing Signals Surge In Demand

That seems sensible: despite lots of bad press, and a share price far below even the most pessimistic expectations a year or so ago, the Sienese bank still boasts a strong brand and loyal customers.

ECONOMIST: The world��s oldest bank plans its future

While the index improved and beat expectations, it still remained far below the 50 level, indicating a contraction.

FORBES: Magazine Article