by Arnold Joe
Loading ...Stock update:
Toll Brothers Inc. (N-TOL) released its second quarter results and there were no real surprises as the company lost money for the third straight quarter. Earnings per share was negative $0.59 bringing the six month EPS to $-1.20. Earnings were so weak that the company reported an operating loss (revenues minus cost of […]
Economics:
The US ISM (a manufacturing index) in May showed some slight improvement, but still showed the sector was contracting with a reading of 49.6 up from 48.6…any reading less than 50 indicates contraction. Not surprising, the employment sector had another weak reading of 45.5 and the prices paid component hit an 87% which is […]
Economics:
Canada’s April inflation numbers increased to 0.8% for the month and 1.7% year over year. Canada reported food increased 0.8% in the month and energy prices increased 6.0% (this contrast to the US which strangely enough showed no change in energy prices). Although the year over year numbers are low relative to the other […]
There’s lots of talk about what Helicopter Ben Bernanke and the FOMC will decide to do with short term interest rates next week. Apparently the market is no longer pricing in a 50 basis point cut in rates with some economists expecting only 25 or even no rate cuts. My feeling is that Helicopter Ben […]
Recap:
The Dow Jones and TSX were both down 256 and 226 points on Friday respectively probably the result of General Electric posting lower profits q/q and also lowering guidance for the year. This comes only a short time after the company had affirmed guidance in March. Markets are nervous because of the implications that weakness […]
