Business Summary Links By Day
Dave’s
Daily: http://www.etfdigest.com ‘MARKETS QUIET BEFORE APPLE EARNINGS 10-25-12 Overseas news featured a report from the China Conference
Board which saw growth in the country at only .3% vs 1.7% previously. The Bank
of Japan indicated it would join the QE party and begin stimulus operations.
The UK reported GDP data at 1% meaning the recession is over or there would be
a triple dip. In the U.S. Jobless Claims were about as expected (369K vs 372K
expected & prior revised higher to 392K). Upward revisions to all data seem
commonplace now but certainly make for better “beats”. Durable
Goods Orders headline number rose (9.9% vs 7% expected & prior -13.1%) and
ex-Transportation (2% vs 1% expected & prior revised lower to -2.1%).
However the important data within this report was business investment remained “flat” meaning GDP data may be
downgraded again. Corporations are holding back due to uncertainty regarding
the election, fiscal cliff, tax policy and healthcare expenses. Pending Home
Sales (.3% vs 2.5% expected) were poorly received.The spin on earnings thus far
has been about beating lowered estimates overall. However guidance and revenues
are in decline. It’s said
earnings overall for the S&P 500 will be down 1.8% while ex-Apple down 3.1%
such is the weighting of “the one”. Apple (AAPL) and Amazon
(AMZN) among others report earnings after the close as the flood of earnings
continues. Apple shares have dropped nearly 14% from their highs amid
production woes, factory scandals in China and disappointment over the iPad
Mini. Thursday before the earnings release Apple stated they would be launching
a radio service. This crushed Pandora’s (P) stock price on the news. Apple earnings were expected around $8.85 with “whisper numbers” as high as $9.85 and came
in at only $8.67. All acolytes unite!! Amazon on the other hand is hell-bent on
capturing market share for just about everything at the expense of profits. How
long that can last is anyone’s guess.
Amazon reported a miss of $13.81 billion in revenues vs $13.92 billion expected
and an earnings loss (after adjustments) of 23 cents vs loss of 7 cents
expected. The company also guided revenues lower—shares slid. Also, previous high flyer Coinstar (CSTR)
reported earnings (dba, Red Box) shares slid after its report disappointed.
Stocks began the day sharply higher on employment and global data but then
faded as investors looked further under the hood and also ahead to obvious
unknowns. Most sectors closed the day relatively unchanged.The dollar (UUP) was
slightly higher while gold (GLD) managed to climb some from its recent lows.
Commodities (DBC) and oil (USO) were little changed overall. Bonds (TLT)
continued to be weak no doubt still disappointed that the Fed didn’t super-size QE3. Volume was light once again as markets were tense before
earnings from Apple while breadth per the WSJ was mildly positive…’, Will
The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing http://albertpeia.com/layoffsjoblossesskyrocketing.htm , Spain is 100% Totally Beyond Saving http://albertpeia.com/spainbeyondsaving.htm , What
America's CEOs Really Think In One Chart ZeroHedge.com ‘…a huge
rise in North American job cuts. It would appear, given the data below, that CEOs
are wise in the ways of just-in-time only fix it when its totally broken
policy-making and have front-run every major event with huge layoffs. To
wit, since the start of September, announced layoffs in North American firms have soared to levels not
seen since the debt-ceiling-debacle of last year (all the
while - claims and the unemployment rate continue to fall)...’ , Apple
Cash Balance Rises At Slowest Pace In 30 Months , Hugh
Hendry: "I Have No Idea Where The Stock Market Is Going To Be"... But
"I Am Long Gold And Short The S&P"
David
Einhorn Explains How Ben Bernanke Is Destroying America ZH "We have just spent 15 years learning that a
policy of creating asset bubbles is a bad idea, so it is hard to imagine why
the Fed wants to create another one. But perhaps the more basic
question is: How fruitful is
the wealth effect? Is the additional spending that these
volatile paper profits are intended to induce overwhelmed by the lost
consumption of the many savers who are deprived of steady, recurring interest
income? We have asked several well-known economists who publicly support the
Fed’s policy
and found that they don’t have good answers. If Chairman Bernanke is setting
distant and hard-to-achieve benchmarks for when he would reverse course, it is
possibly because he understands that it may never come to that. Sooner or later, we will enter another
recession. It could come from normal cyclicality, or it could come from an
exogenous shock. Either way, when it comes, it is very likely
we will enter it prior to the Fed having ‘normalized’ monetary policy, and we’ll have a
large fiscal deficit to boot. What
tools will the Fed and the Congress have at that point? If the
Fed is willing to deploy this new set of desperate measures in these
frustrating, but non-desperate times, what will it do then? We don’t know, but a large
allocation to gold still seems like a very good idea."
Overnight
Market: Futures Breaking Below Draghi-Believe Lows ZH S&P futures are being crushed overnight. Currently
trading below the levels of September 5th Draghi comments (back under 1400) and
-11pts from the close. AUD is weak, Treasuries are modestly bid (as is the USD)
and commodities are rolling over. The catalyst? We see four things: 1) Delayed reaction
to global supply chain implications of an AAPL outlook cut (and/or overseas
holders hedging) as well as some missed earnings in China; 2) Major
Aussie quasi-bank Banksia (yes, its really called that!) hitting the skids
(a la Northern Rock) bringing fear that Australia is entering 2008-mode USA; 3)
a
NYT article which could be inferred as a direct attack on the Chinese
political faction (exposing Wen Jiabao's hidden billions); and/or 4) a
realization that at 14-plus x P/E multiples, the US equity markets are not
pricing in anything the kind of possible pain a fiscal cliff scenario (or
Romney-ite in the Fed) might bring. Of course, the need for a narrative is
irrelevant, the most net long position since 2008 is unwinding (for now) but by
the time we wake for New York's morning, things could have reversed once again.
Guest
Post: The Dark Age Of Money ZH If you often wonder why ‘free market capitalism’ feels like it is failing
despite universal assurances from economists and political pundits that it is
working as intended, your intuition is correct. Free
market capitalism has become a thing of the past. In truth free market
capitalism has been replaced by something that is truly anti-free market and
anti-capitalistic. The diversion operates in plain sight. Beginning sometime
around 1970 the U.S. and most of the ‘free world’ have diverged from traditional “free market
capitalism” to something different. Today the U.S. and much of the world’s economies are operating
under what I call Monetary Fascism: a system where financial interests
control the State for the advancement of the financial class. This is markedly
different from traditional Fascism: a system where State and industry work
together for the advancement of the State. Monetary Fascism was created and
propagated through the Chicago School of Economics. Milton Friedman’s collective works
constitute the foundation of Monetary Fascism. Today the
financial and banking class enforces this ideology through the media and
government with the same ruthlessness of the Church during the Dark Ages: to question is to be a heretic. When asked in an
interview what humanities’ future looked like, Eric Blair, better known as
George Orwell, said “Imagine a boot smashing a human face forever.”
Submitted by Tyler
Durden on 10/25/2012
And so the behemoth misses... again:
But the uglyness is in the forecast.
And this time it is not a low-ball:
Stock halted so keep an eye on the QQQ
as a proxy - QQQs imply AAPL
$590 here (200DMA is $587)... AAPL will resume trading at 4:50ET
Submitted
by Tyler Durden on 10/25/2012
After defying gravity for months on
end, on what we quarter
after quarter warned were ever declining margins and revenue growth, the
Amazon bubble (just about 300x P/E at last check) has finally popped, and
investors no longer believe that the company can offset collapsing profit
margins with increasing volume. And yes, the Kindle is proving to be nothing
more than yet another fad rather than the latest and greatest razor-razorblade
ecosystem paradigm.
AP Business
Highlights
...Yahoo Market
Update…
http://albertpeia.com/archives.htm
FBI Nazi
Bikers Bust FBI Nazi Bikers - What's Up At The FBI/DOJ?
Infowars.com | Now is the time to put an end to Obama’s
treasonous and tyrannical behavior.
http://albertpeia.com/impeachobama.htm
Wobama’s
Choom Gang Bangin’ { This brief video (11 mb) is well done and worth a
watch! }
http://www.albertpeia.com/wobamaschoomgangbangin.wmv
PAPER:
Obama's grandfather tortured by the British? A fantasy (like most of the
President's own memoir)... {
http://albertpeia.com/wobamaschoomgangfantasy.htm }
Drudgereport: Obama: 'Sometimes I Forget' Magnitude of Recession…{
Oh! How conveniently forgetful, though the vast majority of americans don’t
have wobama’s luxury of feigned amnesia suffering from what wobama did and
didn’t do contrary to promises last time around the perpetual campaign trail
littered with his typical jive-talking b***s***! The following headline will
help him remember some of his sordid, pot-clouded high school past! }...
FLASHBACK: Obama's Sordid High School Past...
By Ben Shapiro ‘While the Washington Post has been diligently
digging into relatively innocent high school pranks
by Mitt Romney, they’ve spent the last few years diligently ignoring President
Obama’s far more controversial high school days.Obama, by all accounts, was a
habitual drug user in high school. He tried cocaine, he admits in Dreams
From My Father; he “tried drugs enthusiastically.” The Chicago Tribune
reported back in 2007 that Obama thanked the “Choom Gang” in his high school
yearbook; “chooming” was Hawaiian slang for smoking pot. The Honolulu
Advertiser reported that Obama’s senior portrait “prominently displayed …
A package of ‘Zig-Zag’ rolling papers and a matchbook.” One of Obama’s close
friends was arrested for drug possession during high school.In his memoir,
Obama talked about routinely getting high. “Junkie. Pothead,” he wrote. “That’s
where I’d been headed: the final, fatal role of the young would-be black man.”
But, according to Obama, he only got high because he was contemplating deep
matters: drugs could “push questions of who I was out of my mind.” Obama told
students in 2007 that this activity constituted “goofing off” and “wasting
time”:"I will confess to you that I was kind of a goof off in high school
as my mom reminded me," Obama said. "I went to high school in
Cracks
in the Washington Post story on Romney’s ‘pranks’ emerge
Correction
Request: Washington Post Uses Falsehood in Romney Hit Piece
Media
Downplays Obama's Past, Tries to Define Romney with Teen Prank
If we're going to delve deep into a candidate's past, let's delve deep into a
candidate's past. Here's Obama in his own words admitting to physically shoving
a little girl named Coretta. Yes, it was at this moment that the first
shot in the War on Women was fired.
http://albertpeia.com/obamashovesgirl.png
No doubt that after expending all that energy
bullying an innocent little girl, young Obama readied himself for round two by
eating a Golden Retriever. More on this breaking story here.If
you're wondering what the rules are regarding a candidate's past; how far back
we're allowed to go in an attempt to define them -- the answer is simple: the
corrupt media will let us know.
Obama WILL NOT pursue gay marriage as part of party
platform...
STONE: 'Playing a
cruel and cynical game'...
Unites Republicans?
New Black Panther Niggers Plan Newspaper Cover With
Zimmerman In Noose { and civilized people everywhere should respond with
niggers in nooses and contributions to the Klu Klux Klan! } ...
LOONEY CLOONEYLAND: BIG CAMPAIGN BOXOFFICE FOR NIGGERO
– Meanwhile, looney clooneyland ain’t doin’ so well with the niggero model –
see next headline! ...
Failed Wobama model illustrated: 16 Reasons To Move Away From
Postal Service loses $3.2b in first quarter...
78% of
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{ some prior links of current
interest }