Thursday, April 24, 2014

Morning Journal

News on Stocks in Our Portfolios

o    United Parcel Service (UPS): Q1 EPS of $0.98 misses by $0.11.
o    Revenue of $13.78B (+2.6% Y/Y) misses by $130M.

o    T. Rowe Price (TROW): Q1 EPS of $1.05 beats by $0.01.
o    Revenue of $954.6M (+17.0% Y/Y) beats by $6.24M.
·         Coca-Cola (CCE): Q1 EPS of $0.46 beats by $0.02.
·         Revenue of $1.87B (+1.1% Y/Y) misses by $60M.

    • Caterpillar (CAT): Q1 EPS of $1.61 beats by $0.39.
    • Revenue of $13.24B (+0.2% Y/Y) beats by $100M.
|7:34 AM|
    • 3M (MMM): Q1 EPS of $1.79 misses by $0.01.
    • Revenue of $7.83B (+2.6% Y/Y) misses by $130M.
    • Altria (MO): Q1 EPS of $0.57 in-line.
    • Revenue of $5.52B (-0.2% Y/Y) beats by $1.49B.

o    Qualcomm (QCOM): FQ2 EPS of $1.31 beats by $0.09.
o    Revenue of $6.37B (+4% Y/Y) misses by $110M.
o    188M MSM chip shipments, in-line with guidance of 180M-195M.
o    Expects FQ3 revenue of $6.2B-$6.8B and EPS of $1.15-$1.25 vs. a consensus of $6.59B and $1.25, and MSM chip shipments of 198M-213M.
o    Expects FY14 revenue of $26B-$27.5B and EPS of $5.05-$5.25 vs. a consensus of $26.8B and $5.13. EPS guidance was previously at $5-$5.20.|7:32 AM

    • Sigma-Aldrich (SIAL): Q1 EPS of $1.06 beats by $0.03.
    • Revenue of $689M (+2.1% Y/Y) misses by $1.6M.

Economics

   This Week’s Data

            March new home sales fell 14.4% versus expectations of an increase of 3.4%:

            The April Markit Flash PMI came in at 55.4 versus estimates of 56.3.

            Weekly jobless claims rose 24,000 versus forecasts of up 9,000.


            March durable goods orders advanced 2.6% versus consensus of +2.0%; ex transportation, they were up 2.0% versus expectations of up 0.9%.

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