Morning Journal--China giving up on financial reform

News on Stocks in Our Portfolios

Rockwell Collins beats by $0.02, misses on revenue

o    Rockwell Collins (NYSE:COL): FQ3 EPS of $1.19 beats by $0.02.

o    Revenue of $1.26B (+11.5% Y/Y) misses by $40M.

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Coca-Cola beats by $0.01, misses on revenue

o    Coca-Cola (NYSE:KO): Q2 EPS of $0.64 beats by $0.01.

o    Revenue of $12.57B (-1.4% Y/Y) misses by $250M.

Kimberly-Clark misses by $0.01, beats on revenue

·         Kimberly-Clark (NYSE:KMB): Q2 EPS of $1.49 misses by $0.01.

·         Revenue of $5.34B (+1.3% Y/Y) beats by $20M.

Altria misses by $0.01, misses on revenue

• Altria (NYSE:MO): Q2 EPS of $0.65 misses by $0.01.
• Revenue of $4.57B (+0.9% Y/Y) misses by $30M.

United Technologies beats by $0.13, beats on revenue

·         United Technologies (NYSE:UTX): Q2 EPS of $1.84 beats by $0.13.

·         Revenue of $17.2B (+7.4% Y/Y) beats by $390M.

Canadian National Railway beats by C$0.04, beats on revenue

·         Canadian National Railway (NYSE:CNI): Q2 EPS of C$1.03 beats by C$0.04.

·         Revenue of C$3.12B (+16.9% Y/Y) beats by C$10M.

Genuine Parts beats by $0.02, beats on revenue

o    Genuine Parts (NYSE:GPC): FQ1 EPS of $1.28 beats by $0.02.

o    Revenue of $3.91B (+6.3% Y/Y) beats by $40M.

Economics

   This Week’s Data

            June CPI came in up 0.3%, in line; ex food and energy, it was +0.1% versus expectations of +0.2%.

   Other

            Commercial real estate prices at rising rapidly (short):

            http://scottgrannis.blogspot.com/2014/07/commercial-real-estate-enjoys-double.html

Politics

  Domestic

  International

            China is ceasing financial reforms (short):

            http://www.zerohedge.com/news/2014-07-21/spot-china-liquidity-crisis