Wednesday, August 6, 2014

Morning Journal---The banksters get an 'F'

News on Stocks in Our Portfolios
·         HollyFrontier (NYSE:HFC): Q2 EPS of $0.89 misses by $0.08.
·         Revenue of $5.37B (+1.5% Y/Y) beats by $910M.
·         EOG Resources (NYSE:EOG): Q2 EPS of $1.45 beats by $0.08.
·         Revenue of $4.19B (+9.1% Y/Y) misses by $40M.

o    Western Gas Partners (NYSE:WES): Q2 EPS of $0.57 misses by $0.01.
o    Revenue of $329.94M (+31.8% Y/Y) beats by $10.92M.
·         Oneok Partners (NYSE:OKS): Q2 EPS of $0.54 misses by $0.13.
·         Revenue of $3.06B (+10.5% Y/Y) misses by $0.10M.
·         Expeditors (NASDAQ:EXPD): Q2 EPS of $0.46 misses by $0.01.
·         Revenue of $1.59B (+6.0% Y/Y) in-line.
Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales by major retailers up 0.2% versus the prior week and up 4.5% on a year over year basis; Redbook Research reported month to date retail chain store sales fell 0.4% versus the comparable period a month ago but up 4.6% versus the similar timeframe last year.

            The July Markit services PMI came in at 60.8 versus expectations of 61.0.
           
            June factory orders rose 1.1% versus estimates of +0.6%.

            The July ISM nonmanufacturing index was reported at 58.7 versus forecasts of 56.5.

            Weekly mortgage applications rose 1.6% but purchase applications fell 1.0%.

            The June US trade deficit came in at $41.5 billion versus an anticipated shortfall of $45 billion.

   Other

            Growth versus inflation (medium):

            Casting doubts on monetarism (medium):

            The latest on student loans (medium):

            The banksters get an ‘F’ (medium and a must read):

Politics

  Domestic

  International

            The latest from Ukraine (medium):

            And:

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