UPS (UPS) reported this morning that revenues were off 16.7% in the 2nd quarter on a 4.8% volume decrease in US domestic package shipments and a 7.8% decrease in average US domestic package price. As a result, margins are being…
Heavy machinery maker Caterpillar (CAT) reported earnings this morning before the open. We all know the stuff they make. As such, they are a terrific bellwether for capital spending. They earned 72 cents a share, excluding redundancy costs, on revenue…
Right now being bearish is nothing more than being realistic. – David Hefty, Cornerstone Wealth Management I’ve never heard of David Hefty before but he makes a solid case for a secular bear market. He emphasizes three big problems: resets…
Source: “Sacramento’s wave of lost jobs hits some harder than others”, The Sacramento Bee, July 14, A1
Intel’s second quarter results reflect improving conditions in the PC market segment. – Paul Otellini, CEO, Intel Everybody is gonzo about Intel’s (INTC) second quarter earnings report after today’s close but I just don’t see what’s so great about it. They…
But they should also be prepared to add to the stimulus now that it’s clear that the first round wasn’t big enough. ….. He needs to remind the country that he’s trying to steer the country through a severe economic…
Unemployment and many other labor measures are at their worst levels in decades. – “Job Market Is Flashing Many Warning Signs” (subscription required), Mark Gongloff, The Wall Street Journal, July 9 Initial claims for jobless benefits fell to 565,000 for…
“The economy is still deteriorating, job losses are still huge, I really don’t see where earnings will come from to drive valuations. Just because things are getting worse at a slower pace doesn’t mean they’re getting much better” – James…
(Source: “Numbers On Welfare See Sharp Increase” (subscription required), The Wall Street Journal, June 22, A1)
Jeff Gundlach is one of the best in the business and his recent open letter, “The Jalopy Economy”, is one of the best recent analyses of the current macroeconomic predicament I’ve read. I strongly recommend taking the time to read…