Markets were little changed after orders for durable goods were reported. Dow & NAZ were down slightly & decliners were a little ahead of advancers. Orders for durable goods fell only 0.5%, one-third estimates. The decline was from autos & aircraft orders. However excluding transportations, orders rose 2½%, the largest gain in 9 months helped by a 28% gain in electrical equipment & appliance orders. Oil continued it's decline pulling back below 127. Banks sold off, check Bank of America (BAC) in the right column.
Coca Cola (KO), a Dow stock & member of the S&P500 Dividend Aristocrat list, gave an optimistic forecast about business, down 16¢. Masco (MAS), another member of the S&P500 elite list is in danger of being removed from the list. They will have to increase the div by at least 1 penny in H2 to remain. But they may not be able to because of their guidance for lower earnings for 2008, not able to cover the present div. The weak housing market is hurting their business badly, i.e. kitchens, bathroom, paints, etc.
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