Tuesday, April 29, 2014

Morning Journal---Has Abenomics run its course?

 News on Stocks in Our Portfolios
·         Cummins (CMI): Q1 EPS of $1.83 beats by $0.16.
·         Revenue of $4.4B (+12.2% Y/Y) beats by $230M.

o    Coach (COH): FQ3 EPS of $0.68 beats by $0.07.
o    Revenue of $1.1B (-7.6% Y/Y) misses by $30M.
·         Franklin Resources (BEN): FQ2 EPS of $0.89 in-line.
·         Revenue of $2.09B (+4.0% Y/Y) misses by $20M.

    • Ecolab (ECL): Q1 EPS of $0.74 in-line.
    • Revenue of $3.33B (+16% Y/Y) beats by $0.01B.

Economics

   This Week’s Data

            March pending home sales rose 3.4% versus expectations of +0.6%

            The April Dallas Fed manufacturing index came in at 11.7 versus estimates of 6.0.

   Other

            Here is a great and brief summation by Greg Mankiw of the much talked about book from Thomas Piketty

            And a bit longer one from Scott Gannis:

            Has Abenomics run its course (short):

Politics

  Domestic

Quote of the day (short):

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