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Daily Reports @ WJR

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WJR March 2002 reports

Earnings reports really start rolling this week. If you look at the number of companies warning about missing forecasts, we've had 584 companies warn this quarter versus 794 at the same time last year. That's a positive of sorts, but what we're really looking for is positive guidance for the coming year. So far this morning, Fannie Mae beat estimates by a penny and did indeed say that 2002 should be a good year for them.< br>Looks like a lower open on the way today. Adjusted for fair value, S&P futures are down 3½, Dow futures are down 15, and the Nasdaq futures are about 9 points below fair value. January 11, 2002Ford Motor is front and center this morning as they announce their revitalization plan. But if you ask Wall Street, even the rumored 20,000 job cuts and 1.8 million vehicle reduction in annual capacity may not be enough....
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WJR February 2002 reports

February 28, 2002And the Grammy for "Best Record of Unintelligible Commentary" goes to Alan Greenspan. In fact, we might as well make that a lifetime achievement award. Yesterday Mr. Fed Head said that the economy is getting better, but never got that bad, and so it won't get a lot better real soon. At least that's what it sounded like he said.While he was saying it, stocks went way up. After he said it, stocks went way down and by the end of the day, we were pretty much where we started.Got your taxes done yet? H&R Block beat estimates by a bunch in the fourth quarter, sixteen cents a share versus a nine-cent estimate. Intimate Brands, the Victoria's Secret folks, also beat estimates. Gateway and Shire Pharmaceutical and Tiffany guiding estimates lower this morning.At 8:30 we'll get the revised fourth quarter Gross Domestic Product number. Expect a 1% increase in...
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WJR January 2002 reports

WJR December 2001 reports

December 31, 2001It's the end of a year that just about everyone would like to forget, but never will. That goes for the stock market, as well. Unless something phemonenal happens today, the major stock market indexes will finish with losses for the second year in a row. That's the first time that's happened in 23 years, which is roughly the age of your typical mutual fund manager.Last Friday a bunch of economic indicators were released, and they were uniformly good. Durable goods orders, minus defense spending were up almost 5%, that's the second month in a row. New home and existing home sales were up again, and the Conference Board's Consumer Confindence Index jumped to 93.7 from 84.9 in November.There should be a lot of last minute trading by the true procrastinators today. A lot of investors are sitting on a lot of losses that they may want to recognize....
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WJR November 2001 reports

The big number of the day will be the Producer Price Index at 8:30 this morning. Economists are expecting a decrease of 4 tenths of a percent overall and and rise of 1 tenth of a percent in the core rate. The lower these numbers are, of course, the more room the Federal Reserve has to continue lowering interest ra, , tes. At this point the Fed Futures contracts are pricing in an 80% probability of another ½ percent interest rate cut by November.That three billion dollar judgement against Philip Morris in California was cut to $100 million by a judge in California yesterday. Phillip Morris still plans to appeal to get its reduced even further.Europe is up 1 to 2 percent today. Adjusted for fair value, futures are slightly positive. S&P futures are up 2 1/2, Dow futures are up 10 and the Nasdaq futures are about 3 points...
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WJR October 2001 reports

October 31, 2001According to the Conference Board, Consumer Confidence fell like a cluster bomb in October. The dive to 85 was ten points more than expected, and the worst reading in 7 years. And if you liked that news, you'll love what's coming today. The first estimate of third quarter Gross Domestic Product will be released in eight minutes. Expect a decline of 1 percent or more, due in large part to a slowdown in consumer spending. That would be the worst drop since 1991.The news isn't getting any better on the jobs front. In France, Alcatel will shed 10,000 workers. In the U.S., Fidelity Investments will let 2% of its workforce go. CVS will shut 200 stores and layoff 300 employees.Abode Systems warned about 4th quarter and next year's earnings last night. Abode Stock is down over 19% in pre-market trading.Tokyo was down for the fourth session in a row....
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WJR September 2001 reports

The big number of the day will be the Producer Price Index at 8:30 this morning. Economists are expecting a decrease of 4 tenths of a percent overall and and rise of 1 tenth of a percent in the core rate. The lower these numbers are, of course, the more room the Federal Reserve has to continue lowering interest ra, , tes. At this point the Fed Futures contracts are pricing in an 80% probability of another ½ percent interest rate cut by November.That three billion dollar judgement against Philip Morris in California was cut to $100 million by a judge in California yesterday. Phillip Morris still plans to appeal to get its reduced even further.Europe is up 1 to 2 percent today. Adjusted for fair value, futures are slightly positive. S&P futures are up 2 1/2, Dow futures are up 10 and the Nasdaq futures are about 3 points...
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WJR August 2001 reports

The big number of the day will be the Producer Price Index at 8:30 this morning. Economists are expecting a decrease of 4 tenths of a percent overall and and rise of 1 tenth of a percent in the core rate. The lower these numbers are, of course, the more room the Federal Reserve has to continue lowering interest ra, , tes. At this point the Fed Futures contracts are pricing in an 80% probability of another ½ percent interest rate cut by November.That three billion dollar judgement against Philip Morris in California was cut to $100 million by a judge in California yesterday. Phillip Morris still plans to appeal to get its reduced even further.Europe is up 1 to 2 percent today. Adjusted for fair value, futures are slightly positive. S&P futures are up 2 1/2, Dow futures are up 10 and the Nasdaq futures are about 3 points...
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WJR July 2001 reports

WJR June 2001 reports

Daily Reports @ WJR

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