Morning Journal--Abenomics still not working

 News on Stocks in Our Portfolios

Automatic Data Processing EPS in-line, beats on revenue

·         Automatic Data Processing (NASDAQ:ADP): FQ4 EPS of $0.63 in-line.

·         Revenue of $3.07B (+9.3% Y/Y) beats by $40M.

Occidental Petroleum beats by $0.02, beats on revenue

·         Occidental Petroleum (NYSE:OXY): Q2 EPS of $1.79 beats by $0.02.

·         Revenue of $6.27B (+5.2% Y/Y) beats by $230M.

ConocoPhillips EPS in-line, misses on revenue

• ConocoPhillips (NYSE:COP): Q2 EPS of $1.61 in-line.
• Revenue of $14.7B (+4.0% Y/Y) misses by $680M.

Colgate-Palmolive EPS in-line, misses on revenue

·         Colgate-Palmolive (NYSE:CL): Q2 EPS of $0.73 in-line.

·         Revenue of $4.35B (+0.2% Y/Y) misses by $60M.

Becton, Dickinson beats by $0.01, beats on revenue

• Becton, Dickinson (NYSE:BDX): FQ3 EPS of $1.68 beats by $0.01.
• Revenue of $2.15B (+4.9% Y/Y) beats by $10M.

Murphy Oil misses by $0.32, misses on revenue

·         Murphy Oil (NYSE:MUR): Q2 EPS of $0.90 misses by $0.32.

·         Revenue of $1.35B (+1.5% Y/Y) misses by $70M.

Franklin Resources misses by $0.03, misses on revenue

·         Franklin Resources (NYSE:BEN): FQ3 EPS of $0.92 misses by $0.03.

·         Revenue of $2.13B (+2.4% Y/Y) misses by $40M.

Economics

   This Week’s Data

            Weekly jobless claims rose 23,000 versus expectations of a 21,000 increase.

            http://www.calculatedriskblog.com/2014/07/weekly-initial-unemployment-claims-at.html

            Second quarter employment costs rose 0.7% versus forecasts of up 0.5%.

   Other

            Could we be facing a stagnating economy? (medium):

            http://www.ft.com/intl/cms/s/0/06a6194c-1683-11e4-8210-00144feabdc0.html?ftcamp=published_links/rss/comment/feed//product&siteedition=intl#axzz38s6f1OZc

            Abenomics—still not working (medium):

            http://blogs.wsj.com/japanrealtime/2014/07/29/abenomics-virtuous-cycle-spinning-more-slowly/

            More on Espirito Santo (medium):

            http://www.bloomberg.com/news/2014-07-30/banco-espirito-santo-posts-first-half-loss-of-3-6-billion-euros.html