Thursday, January 24, 2013

Morning Journal--Why no banksters are in jail


 News on Stocks in Our Portfolios

General Dynamics (GD): Q4 EPS of $1.39 misses by $0.5. Revenue of $8.1B misses by $0.7B.

McDonald's (MCD): Q4 EPS of $1.38 beats by $0.04. Revenue of $6.95B (+2% Y/Y) beats by $0.06B.

Abbott Labs (ABT): Q4 EPS of $1.51 beats by $0.01. Revenue of $10.84B beats by $0.26B.

Coach (COH): FQ2 EPS of $1.23 misses by $0.06. Revenue of $1.5B (+4% Y/Y) misses by $0.1B.

United Tech (UTX): Q4 EPS of $1.04 beats by $0.01. Revenue of $16.4B (+14% Y/Y) misses by $0.24B.

Canadian National Railway (CNI): Q4 EPS of C$1.41 in-line. Revenue of C$2.53BB in-line.
 
Economics

   This Week’s Data

            Weekly mortgage applications were up 7.0% while purchase applications were up 3.0%.

            The International Council of Shopping Centers reported weekly sales of major retailers fell 1.5% versus the prior week but rose 3.2% versus the comparable period last year; Redbook Research reported month to date retail chain store sales flat versus the similar timeframe a month ago an up 1.8% on a year over year basis.

            Weekly jobless claims fell 5,000 versus estimates of a 25,000 rise.

   Other

            The payroll tax and consumer sentiment (short):

            The distortions in inflation adjusted mathematics (medium):
           
            Andy Xie on monetary policy (medium):

            A snippet from the 2007 Fed minutes (medium):

            The IMF cuts global growth outlook for 2013 (medium):

Politics

  Domestic

The decimation of our education system (medium):

Why there are no banksters in jail (medium):

Wow, that didn’t take long.  The guy in the previous link is now unemployed (medium):

  International

            Is the Chinese economy really improving (medium):

            More big bank shenanigans (short):

            On a day when Secretary Clinton is trying to defend the disaster in Benghazi, Russia points out that the Mali al Qaeda rebels are using the arms the US gave Libyan ‘freedom fighters’ (short):

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