Thursday, May 8, 2014

Morning Journal---401k's are replacing home equity loans as the consumer piggy bank

 News on Stocks in Our Portfolios

o    Expeditors International (EXPD): Q1 EPS of $0.42 beats by $0.01.
o    Revenue of $1.49B (+5.7% Y/Y) in-line.
·         AmeriGas Partners (APU): FQ2 EPS of $1.71 misses by $0.50.
·         Revenue of $1.49B (+26.3% Y/Y) beats by $200M.
·         CF Industries Holdings (CF): Q1 EPS of $4.51 beats by $0.01.
·         Revenue of $1.13B (-15.7% Y/Y) misses by $60M.

Economics

   This Week’s Data

            Weekly jobless claims fell 26,000 versus expectations of a 15,000 decline.

   Other

            401k’s are replacing home equity loans as the consumer piggy bank (medium, a must read and not good news):

            Earnings growth masks weak labor market (short):

            Update on consumer credit (short):


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