Friday, October 25, 2013

Morning Journal--More employment data

  News on Stocks in Our Portfolios

Rockwell Collins misses by $0.03, misses on revenues
o                                                        Rockwell Collins (COL): FQ4 EPS of $1.28 misses by $0.03.
o                                                        Revenue of $1.25B (-1% Y/Y) misses by $0.03B.

     Procter & Gamble EPS in-line
o                                                        Procter & Gamble (PG): FQ1 EPS of $1.05 in-line.
o                                                        Revenue of $21.2B (+2% Y/Y) beats by $0.11B.
|7:01 AM|
Sherwin-Williams EPS of $2.55.
·                                 Sherwin-Williams (SHW): Q3 EPS of $2.55.
·                                 Revenue of $2.85B (+9.4% Y/Y) beats by $0.09B.
·                                  Comparable store +10.9%.

Microsoft beats estimates, shares rise
·                                 Microsoft (MSFT): FQ1 EPS of $0.62 beats by $0.08.
·                                 Revenue of $18.53B (+16% Y/Y) beats by $740M.
·                                 Shares +5.8% 

Reliance Steel beats by $0.02
·                                 Reliance Steel (RS): Q3 EPS of $1.22 beats by $0.02.
·                                 Revenue of $2.44B (+18.9% Y/Y) misses by $0.1B.
 
Franklin Resources misses by $0.05
·                                 Franklin Resources (BEN): FQ4 EPS of $0.80 misses by $0.05.
·                                 Revenue of $1.98B (-5% Y/Y) misses by $0.1B.

  Economics

   This Week’s Data

            The August trade deficit was $38.8 billion versus expectations of $40.0 billion.

            The October Markit flash PMI came in at 51.1 versus consensus of 52.2.

            September durable goods orders jumped 3.7% versus estimates of an increase of 2.5%; however, it was largely a result of aircraft orders (think Boeing) as the headline number ex transportation was -0.1% versus forecasts of +0.5%

   Other

            The impact of extended unemployment benefits (short):

            Record number of labor force dropouts (short):


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