News on Stocks in Our Portfolios
·
Revenue of $1.74B (+2.4%
Y/Y) beats by $430M.
- Citing forex volatility in Venezuela, Argentina,
Turkey, and elsewhere, Procter & Gamble (PG) is lowering its FY14 (ends in
June) revenue growth guidance range to 0%-2% from a prior 1%-2%, and its
core EPS growth guidance range to 3%-5% from 5%-7%. (PR)
- Excluding forex, P&G
still expects 3%-4% organic revenue growth and 12%-14% core EPS growth in
FY14.
- P&G also says it expects to incur a $230M-$280M
($0.08-$0.10/share) charge due to the impact of Venezuelan government
currency policy changes on the company's local balance sheet.
Economics
This Week’s Data
The
International Council of Shopping Centers reported weekly sales of major
retailers down 0.3% versus the prior week but up 2.3% year over year; Redbook
Research reported month to date retail chain store sales down 0.1% versus the
comparable period last month but up 2.8% versus the similar timeframe a year
ago.
December
wholesale inventories rose 0.3% versus expectations of +0.6%; however, sales
were up 0.5%.
Weekly
mortgage applications fell 2.0% while purchase applications were down 5.0%
Other
Politics
Domestic
Healthcare myths
(medium):
America takes
early retirement (medium):
Obama’s magic
words (medium):
International
More
on the compounding problems in the EU (medium):
Rumors
of al Qaeda’s demise (medium):
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