Morning Journal---Thursday Morning Humor

   News on Stocks in Our Portfolios

Paychex beats by $0.01, beats on revenue

o    Paychex (NASDAQ:PAYX): FQ1 EPS of $0.47 beats by $0.01.

o    Revenue of $666.8M (+8.8% Y/Y) beats by $4.18M.

Economics

   This Week’s Data

            August new home sales soared 18% versus expectations of 4% increase.

            http://www.calculatedriskblog.com/2014/09/new-home-sales-increase-to-504000.html

                And:

            http://www.zerohedge.com/news/2014-09-24/new-home-sales-explode-higher-thanks-record-high-average-new-home-prices

                August durable goods orders plunged 18.2% versus estimates of a 17.1% decline; ex transportation, they rose 0.7% versus forecasts of +0.8%.  You can see how the transportation (aircraft) orders distorted July and August numbers; so the -18.2% fall is not as bad as it looks.  Nonetheless, orders, both before and after transportation, were weaker than anticipated.

            Weekly jobless claims rose 12,000 versus expectations of an increase of 20,000.

                http://www.calculatedriskblog.com/2014/09/weekly-initial-unemployment-claims_25.html

   Other

Politics

  Domestic

  International War Against Radical Islam

            Thursday morning humor (short):

            http://www.zerohedge.com/news/2014-09-24/case-you-are-still-confused-what-going-middle-east