Morning Journal---Wow, now we have Putin's attention

News on Stocks in Our Portfolios

Tiffany & Co. misses by $0.05, misses on revenue

o    Tiffany & Co. (TIF): Q4 EPS of $1.47 misses by $0.05.

o    Revenue of $1.29B (+4.0% Y/Y) misses by $20M.

Nike beats by $0.04, beats on revenue

·         Nike (NKE): FQ3 EPS of $0.76 beats by $0.04.

·         Revenue of $6.97B (+12.6% Y/Y) beats by $280M.

  

Economics

   This Week’s Data

            The March Philadelphia Fed manufacturing index was reported at 9.0 versus expectations of 3.0.

            http://www.calculatedriskblog.com/2014/03/earlier-philly-fed-manufacturing-survey.html

            February existing home sales fell 0.4%, in line with estimates.

            http://www.calculatedriskblog.com/2014/03/existing-home-sales-in-february-460.html

            February leading economic indicators rose 0.5% versus forecasts of +0.3%; however, the January report was revised from +0.3% to +0.1%---so the two months are a wash.

   Other

Politics

  Domestic

  International

            Latest from Ukraine (medium):

            http://www.zerohedge.com/news/2014-03-20/honeymoon-over-ukraine-stun-citizens-40-gas-price-hike

                Obama really, really gets tough and adds 26 (total now 33) individuals to sanctions list.  Well now we got their attention!:

            http://www.zerohedge.com/news/2014-03-20/us-sanctions-20-additional-costs-levied-russian-banks-billionaires

            And:

            http://www.zerohedge.com/news/2014-03-20/putin-grateful-china-india-support-over-crimea