Friday, October 26, 2012

Morning Journal--The austerity quandary

 News on Stocks in Our Portfolios
 
Sherwin Williams (SHW): Q3 EPS of $2.24 beats by $0.04. Revenue of $2.6B (+4.8% Y/Y) misses by $60M. Shares +0.5% premarket.

ConocoPhillips (COP): Q3 EPS of $1.44 beats by $0.31. Shares +1% premarket.

Reliance Steel & Aluminum (RS): Q3 EPS of $1.30 beats by $0.11. Revenue of $2.06B (+% Y/Y) misses by $40M. Shares +2.5% premarket.

Rockwell Collins (COL): FQ4 EPS of $1.32 beats by $0.19.

Quality Systems (QSII): Q3 EPS of $0.26 misses by $0.02. Revenue of $116.1M (+7.9% Y/Y) misses by $3M.

Economics

   This Week’s Data

            Initial third quarter GDP was reported at up 2.0% versus expectations of up 1.9%.
           
   Other

            The austerity quandary (medium):

            Household deleveraging is paying off (short/medium):

            Part of the deleveraging debt repudiation: charge offs and delinquency rates (short):

Politics

  Domestic

Why Romney is wrong on China (medium):

George Will on the current state of politics (medium and a must read):

Wall Street wins no matter who is elected (long but another must read):

  International War Against Radical Islam

            US policy on terror (medium):


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