News on Stocks in Our Portfolios
·
Revenue of
$1.8B (flat Y/Y) beats by $460M.
- AmeriGas Partners (NYSE:APU):
FQ3 EPS of -$0.47 misses by $0.08.
- Revenue of $613.2M (+5.4% Y/Y) misses by $14.46M.
·
C.H. Robinson Worldwide (NASDAQ:CHRW):
Q2 EPS of $0.80 beats by $0.04.
·
Revenue of
$3.5B (+6.4% Y/Y) in-line.
·
Ecolab (NYSE:ECL): Q2 EPS of $1.03 beats by $0.01.
·
Revenue of
$3.57B (+6.9% Y/Y) beats by $20M.
·
Illinois Tool Works (NYSE:ITW):
Q2 EPS of $1.21 beats by $0.01.
·
Revenue of
$3.72B (+3.6% Y/Y) misses by $30M.
Economics
This Week’s Data
The
International Council of Shopping Centers reported weekly sales of major
retailers up 0.2% versus the prior week and up 4.6% on a year over year basis;
Redbook Research reported month to date retail chain stores sales up 4.2%
versus the comparable period last month and up 3.0% versus the similar
timeframe a year ago.
The
May Case Shiller home price index fell 0.3% versus expectations of an increase
of 0.4%.
The
Conference Board’s July consumer confidence index came in at 90.9 versus
estimates of 85.5.
Weekly
mortgage applications fell 2.2% although purchase applications rose 0.2%.
The
July ADP private payroll report showed a gain of 218,000 jobs, 63,000 less than
anticipated.
Second
quarter GDP jumped 4.0% versus estimates of 3.1%.
Other
***overnight,
June Japanese industrial production fell 3.3%.
The
Fed in denial (medium):
An
interesting thought on ‘unwinding’ QE (medium):
Variable
credit card interest rates at the highest level since 2001 (short):
The
diminishing quality of debt that the Fed has enabled (medium):
Politics
Domestic
Bank oversight
(medium and today’s must read):
The latest
clusterfuck on amnesty---from my favorite liberal (medium):
International
Stratfor
on Israel and Gaza (short):
The latest out of Israel/Gaza
(medium):
Obama’s
foreign policy (medium):
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