Thursday, October 23, 2014

Morning Journal---Central bankers admit that QE leads to income inequality

News on Stocks in Our Portfolios
·         T. Rowe Price (NASDAQ:TROW): Q3 EPS of $1.12 misses by $0.03.
·         Revenue of $1.02B (+15.3% Y/Y) in-line.
·         Caterpillar (NYSE:CAT): Q3 EPS of $1.72 beats by $0.36.
·         Revenue of $13.6B (+1.3% Y/Y) beats by $410M.
·         Lorillard (NYSE:LO): Q3 EPS of $0.90 in-line.
·         Revenue of $1.83B (flat Y/Y)
·         Occidental Petroleum (NYSE:OXY): Q3 EPS of $1.58 beats by $0.01.
·         Revenue of $6B (-7.0% Y/Y) misses by $110M.
·         C. R. Bard (NYSE:BCR): Q3 EPS of $2.15 beats by $0.05.
·         Revenue of $830M (+9.5% Y/Y) beats by $11.12M.
·         AT&T (NYSE:T): Q3 EPS of $0.63 misses by $0.01.
·         Revenue of $33B (+2.6% Y/Y) misses by $240M.

Economics

   This Week’s Data

            Weekly jobless claims rose 17,000 versus expectations of a 21,000 increase.

            The September Chicago Fed National Activity Index came in at .47 versus August’s reading of -.25.

   Other

            Central bankers admit that QE leads to income inequality (medium):

Politics

  Domestic

Worry about your blood pressure, not Ebola (medium):

More of your tax dollars wisely spent (medium):

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