Morning Journal---Are problems in the EU about to start again?

News on Stocks in Our Portfolios

 

Coach, Inc. misses by $0.05, misses on revenue

o    Coach, Inc. (COH): Q2 EPS of $1.06 misses by $0.05.

o    Revenue of $1.42B (-5.3% Y/Y) misses by $70M.

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United Technologies Corporation beats by $0.14, misses on revenue

o    United Technologies Corporation (UTX): Q4 EPS of $1.67 beats by $0.14.

o    Revenue of $16.8B (+2.4% Y/Y) misses by $290M.

Economics

   This Week’s Data

            Weekly mortgage applications rose 4.7%; however, purchase applications fell 4.0%.

   Other

            Bloomberg sentiment index below 50 (medium):

            http://www.zerohedge.com/news/2014-01-21/bloomberg-sentiment-suggests-stagnant-economy-stay

            EU banks face E1 trillion capital shortfall (medium):

            http://www.businessweek.com/news/2014-01-18/european-banks-face-1-trillion-gap-before-review-study-shows

            The latest IMF predictions for 2014 global growth (medium):

            http://www.zerohedge.com/news/2014-01-21/comedy-imf-forecasting-errors-global-trade-tumbles-more-50-imfs-2012-prediction

            Problems in Turkey (medium):

            http://www.zerohedge.com/news/2014-01-21/here-are-350-billion-reasons-why-banks-want-you-ignore-turkeys-turbulence

            Italian bad debt hits a new high (short):

            http://www.zerohedge.com/news/2014-01-21/italian-bad-loans-hit-record-high-23-yoy