Wednesday, October 31, 2012

Morning Journal--Debt, deficits and growth

  News on Stocks in Our Portfolios
 
Ecolab (ECL): Q3 EPS of $0.87 in-line. Revenue of $3.02B (+74.1% Y/Y) misses by $50M.

Cummins (CMI): Q3 EPS of $1.86 misses by $0.04. Revenue of $4.1B (-11% Y/Y) misses by $50M.


Economics

   This Week’s Data

            The August Case Shiller home price index rose 0.5% versus expectations of a 0.7% increase.

            The International Council of Shopping Centers reported weekly sales of major retailers up 0.5% versus the prior week and up 2.7% versus the comparable period a year ago.

            Weekly mortgage applications fell 12% while purchase applications dropped 8%.

   Other

            This is a great piece on debt, deficits and growth. It is a bit long but is today’s must read:

Politics

  Domestic

Beware the coming regulatory tsunami (medium):

I like Chris Christie but he has this one wrong (medium):

George Will on the entitlement mentality (medium):

 

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