Morning Journal--The four Pinocchio lie

News on Stocks in Our Portfolios

HollyFrontier EPS of $0.41, beats on revenues

·                                 HollyFrontier (HFC): Q3 EPS of $0.41.

·                                 Revenue of $5.32B (+2% Y/Y) beats by $0.82B.

|7:06 AM|
ONEOK Partners misses by $0.29

·                                 ONEOK Partners (OKS): Q3 EPS of $0.35 misses by $0.29.

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 C.H. Robinson misses by $0.04, beats on revenues

·                                 C.H. Robinson (CHRW): Q3 EPS of $0.69 misses by $0.04.

·                                 Revenue of $3.31B (+15.1% Y/Y) beats by $0.08B.

Expeditors Intl misses by $0.04., misses on revenue

·                                 Expeditors Intl (EXPD): FQ3 EPS of $0.45 misses by $0.04.

·                                 Revenue of $1.53B misses by $0.06B.

 |9:10  

Economics

   This Week’s Data

            The International Council of Shopping Canters reported weekly sales of major retailers fell 0.6% versus the prior week but rose 1.9% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 3.4% versus the similar timeframe last month and up 3.8% on a year over year basis.

            The October Institute for Supply Management’s nonmanufacturing index came in at 55.4 versus estimates of 54.5.

            http://scottgrannis.blogspot.com/2013/11/service-sector-still-ok.html

            Weekly mortgage applications declined 7.0% while purchase applications were down 5.0%.

   Other

            QE risks higher inflation (medium):

            http://scottgrannis.blogspot.com/2013/11/more-qe-risks-higher-inflation.html

            Germany at risk (medium):

            http://www.ft.com/intl/cms/s/0/07434b7e-3a54-11e3-b234-00144feab7de.html?siteedition=uk&siteedition=intl&siteedition=intl#axzz2jlfFq5ZI

            Quote of the day (short):

            http://cafehayek.com/2013/11/quotation-of-the-day-802.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+CafeHayek+%28Cafe+Hayek%29

Politics

  Domestic

A four Pinocchio lie (short):

http://www.aei-ideas.org/2013/11/more-on-obamas-4-pinocchio-lie-more-than-two-thirds-of-americans-will-not-be-able-to-keep-their-previous-plans/

Why the GOP is no better than the democrats (medium):

http://www.zerohedge.com/news/2013-11-05/guest-post-congress-sells-out-wall-street-again

  International

            Fukushima debris island nearing California (medium):

            http://www.zerohedge.com/news/2013-11-06/fukushima-debris-island-size-texas-near-us-west-coast