Morning Journal--The problems with immigration

News on Stocks in Our Portfolios courtesy of Seeking Alpha

 

Reliance Steel (RS): Q1 EPS of $1.09 misses by $0.07. Revenue of $2.03B (-11.5% Y/Y) misses by $0.04B. 

Sigma-Aldrich (SIAL): Q1 EPS of $1.03 beats by $0.02. Revenue of $675M (+2% Y/Y) beats by $2.18M

Exxon Mobil (XOM): Q1 EPS of $2.12 beats by $0.07. Revenue of $108.8B misses by $11.03B.

UPS (UPS): Q1 EPS of $1.04 beats by $0.02. Revenue of $13.43B misses by $0.04B.

Occidental Petroleum (OXY): Q1 EPS of $1.69 beats by $0.14. Revenue of $5.87B misses by $0.53B

3M (MMM): Q1 EPS of $1.61 misses by $0.04. Revenue of $7.6B (+2% Y/Y) misses by $0.21B.

ConocoPhillips (COP): Q1 EPS of $1.42 in-line.

Altria (MO): Q1 EPS of $0.54 beats by $0.01. Revenue of $5.52B (-2.1% Y/Y) beats by $1.48B.

Economics

   This Week’s Data

            The April Kansas City Fed manufacturing index came in at -5 versus expectations of -1.

            http://www.calculatedriskblog.com/2013/04/kansas-city-fed-regional-manufacturing.html

                The initial reading on first quarter GDP came in at +2.5% versus estimates of +3.1% while the price deflator was reported at +1.2% versus forecasts of +1.4%.

   Other

            Lance Roberts on the Reinhart/Rogoff the debate (medium):

            http://www.zerohedge.com/news/2013-04-25/guest-post-its-bit-early-declare-winner-economic-debate

Politics

  Domestic

Ann Coulter on immigration (medium):

http://www.anncoulter.com/columns/2013-04-24.html#read_more

            And Victor Davis Hanson (medium):

            http://www.nationalreview.com/article/346535/near-suicidal-immigration-policies

            More fraud in the Schumer-Rubio immigration bill (short):

            http://dailycaller.com/2013/04/24/todays-gang-of-8-fraud-back-taxes/

            Congress considering exempting itself from Obamacare (short):

            http://www.powerlineblog.com/archives/2013/04/obamacare-for-thee-but-not-for-me.php

  International War Against Radical Islam

            Obama cranks up the rhetoric on Syria (short):

            http://www.zerohedge.com/news/2013-04-25/syrian-incursion-imminent-hints-current-us-naval-positions