Morning Journal---The government invades the news room

 News on Stocks in Our Portfolios

           
Donaldson Co Inc. beats by $0.03, misses on revenue

·         Donaldson Co Inc. (DCI): FQ2 EPS of $0.39 beats by $0.03.

·         Revenue of $582M (-2.3% Y/Y) misses by $15.94M.

Reliance Steel & Aluminum Co. misses by $0.06, misses on revenue

·         Reliance Steel & Aluminum Co. (RS): Q4 EPS of $0.92 misses by $0.06.

·         Revenue of $2.31B (+22.2% Y/Y) misses by $50M.

Economics

   This Week’s Data

            The February Markit flash PMI reading was 56.7 versus expectations of 53.5.

            The February Philadelphia manufacturing index was reported at -6.3 versus consensus of +8.0.

            http://www.calculatedriskblog.com/2014/02/philly-fed-manufacturing-survey.html

            The January leading economic indicators were up 0.3% versus forecast of +0.2%.

   Other

            Will consumer debt drive the economic recovery? (medium):

            http://www.zerohedge.com/news/2014-02-20/will-consumer-credit-drive-next-economic-boom

Politics

  Domestic

Ann Coulter on Obamacare (medium):

http://www.anncoulter.com/columns/2014-02-19.html#read_more

All the news that fits government guidelines (medium):

http://www.steynonline.com/6107/all-the-news-that-fits-the-government-guidelines

And (medium):

http://www.zerohedge.com/news/2014-02-20/obama-administration-embeds-government-researchers-monitor-media-organizations

  International

            More turmoil on the international scene:

            http://www.zerohedge.com/news/2014-02-20/meanwhile-democratic-republic-congo

                And:

            http://www.zerohedge.com/news/2014-02-20/caracas-burning-maduro-warned-may-face-military-coup

            And:

            http://www.zerohedge.com/news/2014-02-20/european-union-commits-sanctions-against-ukraine

                http://www.zerohedge.com/news/2014-02-20/dozens-killed-ukraines-not-quite-civil-war-white-house-outraged-again