|
|
|||
 |
Actually last months ADP report also suggested slight growth in payrolls, however non-farm payrolls reported by the BLS were down 80k. From adpemploymentreport.com Nonfarm private employment increased 10,000 from March to April 2008 on a seasonally adjusted basis, according to the ADP National Employment Report™. The estimated change in employment from February to March [...] The XAO broke its five month losing streak in April notching up a 4.6% gain from the previous month and breaking my winning streak of calls on the direction of the Aussie market. So what about the old adage, ‘go away in May?’ As can be seen below, that is largely a myth when [...] Morgan Stanley seem to be waking up to the fact that the era of outsize profits for banks is over for the forseeable future, slashing their profit forecasts for bank earnings for FY08 and FY09. From Yahoo Finance: Morgan Stanley see big bank woes just beginning Morgan Stanley (MS) analysts on Monday told [...] The latest Case-Shiller Home Price numbers show that US Home Prices continue to fall at an accelerated rate. From S&P: Steep Declines in Home Prices Continued in February 2008 According to the S&P/Case-Shiller Home Price Indicies Data through February 2008, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading [...] As stated ad-nauseum here analysts are typically behind the curve at turning points in the earnings cycle. The graph above certainly bears that out. 6 months ago 1Q08 S&P500 operating earnings were projected to show a 9.1% increase. As late as the end of February, operating earnings were still projected to be marginally positve [...] Pipe Networks (PWK) announced today that they raised $26m via a private placement of 6.5m shares at $4.00 per share. The purpose for the capital raising was to complete the funding for PPC-1, (the Guam to Sydney undersea cable) and for additional working capital purposes. The company had flagged in the half year report [...] Yesterday ANZ reported a -14% decline in cash earnings (cash earnings is what you need to pay attention to) and a -16% decline in cash eps for 1H08. A lot of that had to with the sharp increase in loan loss reserves which was flagged to the market back in February. At that time [...] Last November Starbucks began talking about cost pressures due to the rising price of milk and also sluggish traffic in their stores. Those headwinds are now affecting the bottom line. From marketwatch.com: Starbucks issues profit forecast below expectations Starbucks Corp. warned late Wednesday that fiscal second-quarter and full-year profit will be hurt by decreased [...] AMBAC again demonstrated why its AAA rating is a farce after losing more than a billion and a half in the first quarter of 2008. From marketwatch.com Ambac reports quarterly net loss of $1.66 billion Ambac Financial reported a first-quarter net loss of $1.66 billion on Wednesday as the bond insurer continued to struggle [...] Much has been made by Dow theorists about the bullish confirmation of the dow transport index and the dow industrials in recent weeks. However, the outlook for major transportation companies continues to look weak. Back in September of last year both Federal Express and Knight Transportation issued profit warnings. Now it’s UPS turn, from [...] |
|
|
|
|
|||
