Thursday, July 31, 2014

Morning Journal--Abenomics still not working

 News on Stocks in Our Portfolios
·         Automatic Data Processing (NASDAQ:ADP): FQ4 EPS of $0.63 in-line.
·         Revenue of $3.07B (+9.3% Y/Y) beats by $40M.
·         Occidental Petroleum (NYSE:OXY): Q2 EPS of $1.79 beats by $0.02.
·         Revenue of $6.27B (+5.2% Y/Y) beats by $230M.

    • ConocoPhillips (NYSE:COP): Q2 EPS of $1.61 in-line.
    • Revenue of $14.7B (+4.0% Y/Y) misses by $680M.
·         Colgate-Palmolive (NYSE:CL): Q2 EPS of $0.73 in-line.
·         Revenue of $4.35B (+0.2% Y/Y) misses by $60M.

    • Becton, Dickinson (NYSE:BDX): FQ3 EPS of $1.68 beats by $0.01.
    • Revenue of $2.15B (+4.9% Y/Y) beats by $10M.
·         Murphy Oil (NYSE:MUR): Q2 EPS of $0.90 misses by $0.32.
·         Revenue of $1.35B (+1.5% Y/Y) misses by $70M.
·         Franklin Resources (NYSE:BEN): FQ3 EPS of $0.92 misses by $0.03.
·         Revenue of $2.13B (+2.4% Y/Y) misses by $40M.

Economics

   This Week’s Data

            Weekly jobless claims rose 23,000 versus expectations of a 21,000 increase.

            Second quarter employment costs rose 0.7% versus forecasts of up 0.5%.

   Other

            Could we be facing a stagnating economy? (medium):

            Abenomics—still not working (medium):

            More on Espirito Santo (medium):

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