Morning Journal--The Failure of Economist's Predictions

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Johnson & Johnson beats by $0.06, beats on revenue

o    Johnson & Johnson (JNJ): Q1 EPS of $1.54 beats by $0.06.

o    Revenue of $18.11B (+3.5% Y/Y) beats by $110M.

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The Coca-Cola Company EPS in-line, beats on revenue

o    The Coca-Cola Company (KO): Q1 EPS of $0.44 in-line.

o    Revenue of $10.57B (-4.3% Y/Y) beats by $20M.

 

Economics

   This Week’s Data

            February business inventories rose 0.4% versus expectations of +0.6%; sales increased 0.8%

            March CPI came in at +0.2% versus estimates of +0.1%; ex food and energy, it was +0.2% versus forecasts of +0.1%.

            The April New York Fed manufacturing index was reported at 1.29 versus consensus of 7.5.

   Other

            The failure of economists’ predictions (medium):

            http://www.nakedcapitalism.com/2014/04/will-growth-spring-well-economists-predict-turning-points.html