Tuesday, November 4, 2014

Morning Journal--US debt to tax ratio nears all time high

  News on Stocks in Our Portfolios

o    Emerson Electric (NYSE:EMR): FQ4 EPS of $1.30 beats by $0.07.
o    Revenue of $6.81B in-line (flat Y/Y).
·         Becton, Dickinson (NYSE:BDX): FQ4 EPS of $1.68 beats by $0.03.
·         Revenue of $2.2B (+4.8% Y/Y) beats by $40M.
·         Marathon Oil (NYSE:MRO): Q3 EPS of $0.57 misses by $0.02.
·         Revenue of $2.97B (-5.1% Y/Y) beats by $40M.

Economics

   This Week’s Data

            The October Markit PMI came in at 55.9 versus expectations of 56.1.

            The October ISM manufacturing index was reported at 59.0 versus estimates of 56.0.
            September construction spending fell 0.4% versus forecasts of +0.6%.

            October light vehicle sales flat with September.

            The September US traded deficit was $43 billion versus expectations of $40.7 billion.

   Other

            WTI falls to a 29 month low (short):

Politics

  Domestic

US reaches a debt to tax ratio not seen since WWII (medium):

A charter schools get better over time (short):

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