While the Wall Street, press release repeating, mainstream media “journalist” apparatchiks were ballyhooing the strong auto and light truck sales in July, what they didn’t tell you is this. Sales are down 25% from the 2005 peak on the basis of sales per capita. Cars and light trucks sold at an annualized rate of 56…
Record Manufacturing Contraction Greece may as well have gone to hell in a handbasket. Carnage is everywhere one looks, but let’s start with the Markit Greece PMI report that shows record manufacturing contraction. July saw factory production in Greece contract sharply amid an unprecedented drop in new orders and difficulties in purchasing raw materials. The…
ADP Nonfarm Payroll Numbers take focus The ADP Nonfarm Payroll Numbers take focus during the session on Wednesday, as they offer a general sign of where the Nonfarm Payroll Numbers make come out on Friday. With this, we expect a lot of volatility during the session but quite frankly recognize that the later we get…
The Chart of the Day is Comfort Systems USA (NYSE:FIX). I found the heating and air conditioning products stock by using Barchart to sort the All Time High list for the stocks with the highest Weighted Alpha then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 6/23…
The Priceline Group (PCLN) is set to report its FQ2 ’15 results tomorrow morning before the opening bell. The Estimize consensus is set at an EPS figure of $12.42 and a revenue target of $2.303B, proportionality higher than company guidance and Wall Streets expectations. Wall Steet is predicting an EPS number $11.90 and a revenue…
PARIS – “It’s a total disaster. It’s like hell here.” Thus did a trader describe the reopening of the Greek stock market. The main Athens stock market index, the Athex, ended the day down 16%, after trading was allowed for the first time in five weeks. And it was down by more than 23% just…
Several recent IPOs reported earnings after Tuesday’s market club, notably Etsy (ETSY) and LendingClub (LC), plus relative newcomer (late 2011) Zillow (Z). Another newbie, OnDeck Capital (ONDK), reported after Monday’s close. All trade on the cachet of online-focused business…and all have investors nervous. OnDeck didn’t say what investors wanted to hear about loan origination yesterday,…
Warning of tech-bubble-like overvaluation in the IPO market, we’ve previously put recent IPO companies Wayfair (W), Box (BOX) and GoDaddy (GDDY) in the Danger Zone. This week we’re turning the tables and putting IPO investors in the Danger Zone as we reveal many of the hidden dangers of IPO investing today. Accounting Loopholes for Pre-IPO…
Shares of Federal Home Loan Mortgage Corporation (FMCC – Snapshot Report) or Freddie Mac rose 5.99% following impressive second-quarter 2015 results. The company reflected its 15th consecutive quarter of positive earnings with net income of $4.2 billion, significantly up from $524 million in the prior quarter. Results were positively driven by higher net interest income and derivative gains. Moreover,…
The Walt Disney Company (DIS – Analyst Report) posted slightly mixed earnings and revenues for its fiscal Q3 2015 after the market close on Tuesday. Earnings of $1.45 per share topped the Zacks consensus estimate of $1.39. Revenues came in a tad light of expectations at $13.1 billion; the Zacks consensus estimate was for $13.17…
