Wednesday, April 17, 2013

Morning Journal---IMF growth expectations


 News on Stocks in Our Portfolios courtesy of Seeking Alpha

Johnson & Johnson (JNJ): Q1 EPS of $1.44 beats by $0.04. Revenue of $17.5B (+8.5% Y/Y) beats by $0.04B.

W.W. Grainger (GWW): Q1 EPS of $2.94 beats by $0.20. Revenue of $2.3B (+4% Y/Y) misses by $0.01B.

Coca-Cola (KO):
 Q1 EPS of $0.46 beats by $0.01. Revenue of $11.04B misses by $0.01B.

BlackRock (BLK): Q1 EPS of $3.65 beats by $0.04. Revenue of $2.45B (+9% Y/Y) beats by $0.03B.
 
Charles Schwab (SCHW): Q1 EPS of $0.15 misses by $0.01. Revenue of $1.29B beats by $0.02B

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 1.1% versus the prior week but up 2.0% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales  up 2.0% on a year over year basis.

            March industrial production rose 0.4% versus expectations of up 0.2%; capacity utilization came in at 78.5 versus estimates of 78.3.

            Weekly mortgage applications rose 4.8% while purchase applications increased 4.0%

   Other

            Has the household sector delevered (medium):

            Cognitive dissonance on Reinhart and Rogoff (short):

            The IMF slashes global growth expectations (medium):

            And they are generally optimists (medium):
           
Politics

  Domestic

A report card on Obama’s $800 billion stimulus (long):

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