Investing for Survival: Morning Journal---IMF growth expectations

Wednesday, April 17, 2013

Morning Journal---IMF growth expectations

News on Stocks in Our Portfolios courtesy of Seeking Alpha

Johnson & Johnson (JNJ): Q1 EPS of $1.44 beats by $0.04. Revenue of $17.5B (+8.5% Y/Y) beats by $0.04B.

W.W. Grainger (GWW): Q1 EPS of $2.94 beats by $0.20. Revenue of $2.3B (+4% Y/Y) misses by $0.01B.

Coca-Cola (KO): Q1 EPS of $0.46 beats by $0.01. Revenue of $11.04B misses by $0.01B.

BlackRock (BLK): Q1 EPS of $3.65 beats by $0.04. Revenue of $2.45B (+9% Y/Y) beats by $0.03B.

Charles Schwab (SCHW): Q1 EPS of $0.15 misses by $0.01. Revenue of $1.29B beats by $0.02B

Economics

This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers down 1.1% versus the prior week but up 2.0% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 2.0% on a year over year basis.

March industrial production rose 0.4% versus expectations of up 0.2%; capacity utilization came in at 78.5 versus estimates of 78.3.

http://scottgrannis.blogspot.com/2013/04/unmistakable-signs-of-growth-and.html

Weekly mortgage applications rose 4.8% while purchase applications increased 4.0%

Other

Has the household sector delevered (medium):

http://www.nakedcapitalism.com/2013/04/richard-alford-has-the-household-sector-delevered.html

Cognitive dissonance on Reinhart and Rogoff (short):

http://pragcap.com/debunking-reinhart-rogoffs-growth-in-a-time-of-debt

The IMF slashes global growth expectations (medium):

http://www.zerohedge.com/news/2013-04-16/imf-slashes-world-gdp-expectations-japan-only-beacon-global-growth-hope

And they are generally optimists (medium):

http://www.zerohedge.com/news/2013-04-16/most-disturbing-chart-todays-imf-outlook-revision