Morning Journal---Friday Morning Humor, ahh, the irony of it all

 News on Stocks in Our Portfolios

Sanofi misses on generic competition. Sanofi (SNY) said Q1 business net income fell to €1.61B (-12% Y/Y) on revenue of €8.1B, missing estimates on both the top and bottom line. The results largely reflected the expiration of patents on Plavix and Eloxatin as well as U.S. generic competition for Avapro. All told, generic competition cost the firm more than half a billion euros in the quarter. The company also appointed two new executive committee members.

Nu Skin (NUS): Q1 EPS of $0.9 beats by $0.11. Revenue of $550.1M (+19% Y/Y) beats by $43.58M.

CME Group (CME): Q1 EPS of $0.73 in-line. Revenue of $719M beats by $7.12M.

Teva Pharma (TEVA): Q1 EPS of $1.12 beats by $0.01. Revenue of $4.9B beats by $0.05B

Expeditors (EXPD): Q1 EPS of $0.39 misses by $0.01. Revenue of $1.41B in-line.

Becton Dickinson (BDX): Q1 EPS of $1.44 beats by $0.08. Revenue of $2.0B (+3.7% Y/Y) beats by $0.01B

Murphy Oil (MUR): Q1 EPS of $1.08 beats by $0.07. Revenue of $6.63B misses by $0.54B.

Western Gas Partners (WES): Q1 EPS of $0.31 misses by $0.06. Revenue of $229.7M misses by $20.76M

Pioneer Southwest Energy (PSE): Q1 EPS of $0.46misses by $0.04. Revenue of $47.6M beats by $2.1

Economics

   This Week’s Data

            The March US trade balance came in well below consensus.

            http://www.calculatedriskblog.com/2013/05/trade-deficit-declined-in-march-to-388.html

                April nonfarm payrolls grew 165,000 versus expectations of up 153,000; unemployment declined from 7.6% to 7.5%.

            Here is another look at the ‘participation rate’ (medium):

            http://advisorperspectives.com/dshort/guest/Vrba-130502-Employment-and-Economic-Growth.php

   Other

Politics

  Domestic

Friday morning humor (short):

http://www.zerohedge.com/news/2013-05-02/youve-reached-your-slice-limit-mayor-bloomberg-food-police-meets-pizza-nazi

  International

           

            FBI report implicates Saudi government in 9/11 attack (medium):

            http://www.ritholtz.com/blog/2013/05/fbi-report-implicates-saudi-government-in-911/

            China ‘invades’ India (medium):

            http://www.zerohedge.com/news/2013-05-02/china-crosses-line-actual-control-stealth-invasion-india