Morning Journal--Thoughts on healthcare

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News on Stocks in Our Portfolios

 

            Paychex reported its first fiscal quarter’s earnings per share of $.42 versus estimates of $.41.

C.H. Robinson Worldwide (CHRW) acquires Phoenix International for $571.5M in cash and $63.5M in new stock. The deal for the freight forwarder is slated to close in Q4 and is anticipated to be "modestly" accretive in year one

FactSet Research Systems (FDS): FQ4 EPS of $1.18 beats by $0.12. Revenue of $207.7M (+8% Y/Y) in-line

Economics

   This Week’s Data

            The August Chicago Fed National Activity Index was reported down 0.87 versus expectations of down .13.

            http://www.capitalspectator.com/archives/2012/09/chicago_fed_us_1.html#more

            The September Dallas Fed manufacturing index came in -0.9 versus estimates of +0.5.

   Other

            Weekly update on gasoline prices (short):

            http://advisorperspectives.com/dshort/updates/Gasoline-Update.php

            QEIII---another Fed giveaway to the banks (medium):

            http://www.nakedcapitalism.com/2012/09/michael-hudson-qe3-another-fed-giveaway-to-the-banks.html

            The expiration of FDIC deposit insurance and short term interest rates (medium):

            http://www.zerohedge.com/news/2012-09-24/16-trillion-fdic-deposit-insurance-expiring-are-negative-bill-rates-set-became-new-n

            The debate over the sustainability of corporate profit margins (medium):

            http://www.bloomberg.com/news/2011-11-28/grantham-calls-margins-freakishly-high-that-doll-says-are-here-to-stay.html

Politics

  Domestic

Tuesday morning humor (3 minute video):

http://www.aei-ideas.org/channel/carpe-diem/

Some thoughts on healthcare (medium and today’s must read):

http://online.wsj.com/article/SB10000872396390444620104578008182459803120.html

Steve Cook received his education in investments from Harvard, where he earned an MBA, New York University, where he did post graduate work in economics and financial analysis and the CFA Institute, where he earned the Chartered Financial Analysts designation in 1973. His 40 years of investment experience includes institutional portfolio management at Scudder, Stevens and Clark and Bear Stearns. Steve's goal at Strategic Stock Investments is to help other investors build wealth and benefit from the investing lessons he learned the hard way.