News on Stocks in Our Portfolios---Courtesy
of Seeking Alpha
Murphy Oil (MUR) +7.3% premarket after
announcing it will spin off its U.S. downstream business into an independent
company. MUR also authorizes a $2.50/share special
dividend and $1B share buyback program.
W.W. Grainger (GWW): Q3 EPS of $2.81 misses by $0.08. Revenue of $2.28B (+8% Y/Y) misses by $40M. Shares -4.1%
premarket.
Johnson & Johnson (JNJ): Q3 EPS of $1.25 beats by $0.04. Revenue of $17.1B (+6.5% Y/Y) beats by $150M.
C.H. Robinson (CHRW) sells its payment services business, T-Chek Systems, to
Electronic Funds Source for $302.5M in cash. T-Chek had annual payment services
net revenues of $49.3 million and operating income of $24.6 million in 2011. T-Chek has been a
subsidiary of C.H. Robinson since 1984.
Linear Technology (LLTC): FQ1 EPS of $0.45 misses by $0.01. Revenue of $335.1M (+2% Y/Y) in-line.
Shares -3.3%
Economics
This Week’s Data
The
International Council of shopping Centers reported weekly sales of major
retailers flat versus the prior week but up 2.7% versus the comparable period a
year ago; Redbook Research reported month to date retail chain store sales up
1.5% versus the similar timeframe last month and up 1.8% on a year over year
basis.
September
industrial production rose 0.4% versus forecasts of +0.2%; capacity utilization
came in at 78.3, as anticipated.
Weekly
mortgage applications fell 4.2% while purchase applications rose 1.0%.
September
housing starts soared 16% versus estimates of a 2% increase.
Other
The
current recovery is not different---the latest from Reinhart and Rogoff
(medium):
Declining
growth in air cargo (short):
Politics
Domestic
Why balancing
the budget is impossible (2 minute video):
Optimal tax
policy (short):
A great 6 minute
video on welfare:
International War Against Radical Islam
Will Obama strike back at Libya
No comments:
Post a Comment