In their first estimate of the US GDP for the second quarter of 2015, the Bureau of Economic Analysis (BEA) reported that the economy was growing at a 2.32% annualized rate, up +1.68% from a revised +0.64% growth rate for the first quarter (and up over 2.49% from the -0.17% contraction rate previously reported). The revision to the first…
This morning, the BEA reported Second Quarter GDP was 2.3%. 2.3% was at the low end of the Consensus Range of 1.9% to 3.5%. On the plus side, first quarter was revised way higher. Revisions First quarter 2015 revised up from -0.2% to +0.6% 2013 GDP revised lower from 2.2% to 1.5% 2012 GDP revised lower from 2.3% to…
The headline, fictional, seasonally adjusted (SA) number of initial unemployment claims for last week came in at 267,000. The Wall Street economist crowd consensus guess close to the mark this week, at 272,000. We focus on the trend of the actual data Instead of the seasonally manipulated headline number expectations game. Facts tend to be more useful than the economic establishment’s…
The capitulation of Greek Prime Minister Tsipras to the demands of the official creditors has split the Syriza coalition. About a quarter of the party refused to make the apparent U-turn with the Prime Minister. Those that were part of the cabinet have been replaced. However, they retain their seats in parliament, and apparently obstructing the…
Battered by the ongoing foreign currency headwinds, Colgate-Palmolive Co. (CL – Analyst Report) reported dismal second-quarter 2015 results, wherein both the top and bottom lines fell short of expectations, and declined year over year. The company’s adjusted earnings of 70 cents per share missed the Zacks Consensus Estimate by a penny and dropped 4.1% year over year. Colgate-Palmolive Company…
Facebook Inc. (FB) operates a social networking website worldwide. The Company’s products for users are free of charge and available on the Web, mobile Web, and mobile platforms, such as Android and iOS. Its website enables users to connect, share, discover, and communicate with each other. The Facebook Platform is a set of tools and…
It’s much easier than you think. The labor force participation rate of 62.6% is at the lowest level since 1978. There are 250 million working age Americans and according to your friendly government drones at the BLS, 94 million of them are willingly not participating in the job market. According to the government, these people…
Sony Corp. (SNE – Snapshot Report) reported first-quarter fiscal 2015 GAAP earnings per share of ¥70.36 (58 cents), which more than doubled from ¥22.94 in prior-year quarter. Robust results were primarily attributable to improved operational performance across the major segments. Especially, high gain from sales of image sensors units remains the winner. Encouragingly, it is this leading electronics…
An Even Battle Between Bulls And Bears? The S&P 500 made an intraday low of 2039 on March 11, 2015. The intraday high in the current range was made on May 20. Since then, the S&P 500 has traded between 2039 and 2134. The mid-point of the range is 2087. There Has Been A Clear…
Market Rallies on FED comments but Biotechs are Left Behind Fed Expected to Raise Rates as Labor Market Tightens The Fed stands pat on rates but is on track to raise rates later this year, possibly at the September meeting, as jobs are on track but inflation is still not above 2%. The market began rally…
