Morning Journal---More on the geopolitics of oil

News on Stocks in Our Portfolios

Boeing beats by $0.16, beats on revenue

·         Boeing (NYSE:BA): Q3 EPS of $2.14 beats by $0.16.

·         Revenue of $23.8B (+7.5% Y/Y) beats by $780M.

General Dynamics beats by $0.14, beats on revenue

·         General Dynamics (NYSE:GD): Q3 EPS of $2.05 beats by $0.14.

·         Revenue of $7.75B (+0.1% Y/Y) beats by $170M.

Canadian National Railway misses by C$0.01, misses on revenue

·         Canadian National Railway (NYSE:CNI): Q3 EPS of C$1.04 misses by C$0.01.

·         Revenue of C$3.12B (+15.6% Y/Y) misses by C$30M.

Illinois Tool Works beats by $0.05, beats on revenue

·         Illinois Tool Works (NYSE:ITW): Q3 EPS of $1.28 beats by $0.05.

·         Revenue of $3.7B (+3.6% Y/Y) beats by $20M.

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McDonald's beats by $0.13, misses on revenue

• McDonald's (NYSE:MCD): Q3 EPS of $1.51 beats by $0.13.
• Revenue of $6.98B (-4.6% Y/Y) misses by $210M.

 

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers down 0.3% versus the prior week bur up 2.1% on a year over year basis; Redbook Research reported month to date retail chain store sales up 0.1% versus the comparable period a month ago and up 4.1% versus the similar timeframe last year.

            September existing home sales rose 2.4% versus expectations of an increase of 1.0%.

            http://www.calculatedriskblog.com/2014/10/existing-home-sales-in-september-517.html

            Weekly mortgage applications rose 11.6% but purchase applications fell 5.0%.

            http://www.calculatedriskblog.com/2014/10/mba-mortgage-applications-increase-in_22.html

                September CPI was reported up 0.1% versus estimates of flat; ex food and energy, it was up 0.1%, in line.

   Other

Politics

  Domestic

  International

            More on the geopolitics of oil (medium):

            http://www.zerohedge.com/news/2014-10-21/saudis-policy-downplaying-oil-prices-will-backfire-them