News on Stocks in Our Portfolios
AmeriGas Partners (APU): FQ2 EPS of
$1.61 misses by $0.86 misses by $0.1. Revenue of $1.18B (+2% Y/Y) misses by $120M
ONEOK Partners (OKS): Q1 EPS of
$0.42 may not be comparable to consensus $0.59. Reaffirms 2013 net income
guidance range of $790M-$870M and distributable cash flow range of $910M-$1B.
Economics
This Week’s Data
Weekly
mortgage applications rose 1.8% but purchase applications fell 1.4%.
The
April ADP private payrolls report was up but
much less than anticipated.
The
April Institute for Supply Management’s manufacturing index came in at 50.7
versus expectations of 51.0.
March
construction spending dropped 1.7% versus estimates of an advance of 0.6%.
April
vehicle sales (14.9 million units) were below forecasts (15.3 million units).
The
FOMC meeting concluded and the accompanying statement didn’t vary much from the
last edition. Rates and the monthly purchase
program are unchanged. The two most
notable differences were: (1) the Fed raised the decibel count on its complaint
about fiscal policy and (2) it said that it could ‘increase or reduce’ its
monthly purchase program---in other words, it just bought some new printing
presses.
Weekly
jobless claims fell 28,000 versus expectations of a rise of 6,000.
First
quarter productivity increased 0.7% versus estimates of an advance of 1.3%;
unit labor costs were up 0.5% versus forecasts of up 0.1%.
Other
The
coming changes in GDP accounting (medium,
very important and a must read):
Politics
Domestic
The government
as accomplice to murder (medium):
International War Against Radical Islam
Obama’s
international war against criminal activity (medium):
No comments:
Post a Comment