Barbie dolls and currency exchange helped the toy makers earnings…
Comments »Google’s Home Run Earnings Were Helped by Ad Sales
This is a good sign given ill reports out of NYT and some digital ad companies…
Comments »SAP Turns Out Good Profits and Sales for Q 3
The pipeline is said to be robust and companies are said to be updating IT infrastructure.
Comments »Google Reports $9.72 vs Consensus of $8.74 on Revenues of $7.51Bn vs Consensus of $7.21 Bn
JP Morgan’s Earnings Fall Less Than Expected From Value of Their Liabilities
UBS Points To Earnings Estimates Rising for Q3 & 4
A Quick Preview of What to Expect From Earnings Season
PepsiCo, PEP, 3rd Quarter Profit Rises 4.1%
U.K. Unemployment Tops a 15 Year High
Infosys Earnings Benefit From Outsource Spending
FLASH: Alcoa Goes From Tiny Pullback to Outright Plunge
The stock is down more than 5.7% now, following disappointing earnings.
Comments »FLASH: ALCOA EARNINGS MISS ON BOTTOM LINE, BEAT ON TOP
CFO Survey: Profits Have Likely Peaked
Looking at the Week Ahead
Third-quarter earnings season kicks off next week with the traditional first report coming from Alcoa (AA: 9.71, -0.17, -1.72%) on Tuesday.
A handful of bellwether companies will also report next week, including Pepsico (PEP: 61.02, +0.45, +0.74%) on Wednesday, and Google (NASDAQ:GOOG) and JPMorgan Chase (JPM: 30.70, -1.68, -5.19%) on Thursday.
Economic data next week will center on the moods and habits of the consumer, a vital gauge of where the economy is headed given that consumer spending represents roughly 70% of the U.S. economy.
Laden with debt and fearful for their jobs, the U.S. consumer has been thrifty recently, which has contributed significantly to the drag on the economic recovery. Investors will be looking for something positive from the release Tuesday of the IBD/TIPP Economic Optimism Index for October, and the preliminary Reuters/University of Michigan Consumer Sentiment Index due Friday.
Minutes from the Federal Reserve Board’s two-day September meeting will be released Tuesday and no surprises are likely. The Fed has already approved a $400 billion shift in its portfolio from short-term to long-term securities in an effort to reduce long-term interest rates on loans such as mortgages.
Details may emerge on the rift between three FOMC members who dissented from the portfolio shift and the majority of the 10-member board led by Chairman Ben Bernanke who support further Fed interventions.
The so-called Volcker Rule, part of last year’s sprawling Wall Street reform legislation, will be unveiled on Tuesday. The banking community is certain to be paying attention as the rule could curb profits from banks’ proprietary trading units.
Reports on September retail and food sales are due Friday. Those numbers will also be impacted by the dour mood of the consumer.
The September Import and Export Price Indexes will be released Friday and are expected to rise slightly due to a small bump in oil prices during September. A report on business inventories for August is also due Friday.
Galleon Group founder Raj Rajaratnam, convicted in one of the largest insider trading schemes ever, will be sentenced on Thursday.
Comments »Bank Profits May Fall More Than Expected
Costco, $COST, 4th Quarterly Profits Rise; Company Seeks to Raise Membership Fees
Pickups & SUV’s Help U.S. Auto Sales Rise in September
Pickups and SUVs helped accelerate U.S. auto sales in September, although carmakers remain concerned that worries about the economy could dampen demand later this fall.
General Motor Co.’s sales rose 20 percent compared with last September, led by a 34-percent rise in full-size pickups and SUV sales. Chrysler Group LLC’s overall sales rose 27 percent.
The growth built on a healthy performance in August, when new models, cheaper financing and pent-up demand lifted the industry after several disappointing months.
September truck sales benefited from falling gas prices, a need to replace aging fleets, and promotions to clear out older models from showrooms.
Sales promotions were especially helpful, according to Jeff Schuster, executive director of global forecasting for J.D. Power and Associates. GM, for example, was offering zero-percent financing and $1,000 cash on the 2011 Chevrolet Silverado 1500 pickup. Sales of the Silverado, one of America’s best-selling vehicles, rose 36 percent. Ram pickup sales were especially strong at Chrysler.
Comments »Cemex, $CX, Posts The Worst Quarterly Earnings Ever
Ingersol Rand, $IR, Tanks on Estimate Cuts
CEO Sentiment Falls Over the Last Q
Usual suspects like politicians at home and abroad bickering over money troubles.
Comments »