Markets hesitate on mixed earnings

Stocks aren't doing much.  Dow is down 13, advancers over decliners 3-2 & NAZ rose 11.  On this lackluster day of trading bank stocks were also meandering, going nowhere.


S&P 500 FINANCIALS INDEX

Value	196.64
Change	0.17  (0.1%)

The MLP index hardly budged in the 349s while the REIT was down a few pennies in the 223s.  Junk bond funds inched higher & Treasury yields only showed minor changes.

Treasury yields:

U.S. 3-month		0.12%
U.S. 2-year		0.35%
U.S. 10-year		2.55%

Alerian MLP Index   ---   2 weeks



Dow Jones REIT Index   ---   2 weeks




10-Year Treasury Yield Index   ---   2 weeks




Oil & gold had modest rises.  It's impressive that oil was able to hold above 80, a bullish sign for its traders.

CLZ10.NYM

...Crude Oil Dec 10

...81.19

... 0.63

(0.8%)

GCV10.CMX

...Gold Oct 10......

1,325.90 .

... 1.20

(0.1%)

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Amazon (AMZN) saw earnings grow in Q3 as shoppers bought more goods & services, but costs also rose because the company is building new centers to fulfill those orders.  AMZN earned 51¢ per share, 3¢ above expectations, & higher than 45¢ last year.  Revenue rose 39% to $7.56B.  Revenue from its largest sales category, electronics & other general merchandise, jumped 68% to almost $4B while revenue from books, CDs, DVDs & other media grew 14% to $3.35B.  It said a larger number of its latest Kindle device was ordered in the first 12 weeks it was available than in the same amount of time after any other Kindle launch. The newest Kindle, which was priced more cheaply at $139 & uses Wi-Fi to wirelessly download content from Amazon's Kindle Store, was released during the qtr. But Q4 operating income projections fell short of estimates.  The stock fell a fraction to the 164s following a good run off its lows 2 years ago.


Amazon.com Shares Decline After Profit Forecast Misses Analysts' Estimates

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Photo:  Bloomberg  

Verizon (VZ), a Dow stock, reported profits fell 25% in Q3, held back by a one-time charge for a pension settlement & the performance of its landline operations, which barely broke even.  The landline business posted operating income of $19M compared to $4.9B on the wireless side.  As recently as Q2, the landline business had operating income of $214M, but VZ sold off profitable, outlying areas with 4M phone lines to Frontier Communications (FTR) on Jul 1, speeding the decline of the remaining business.  Wireless profits remain strong, but VZ owns only 55% of Verizon Wireless.  EPS was 31¢ in Q3 which. compares with 41¢ last year.  Excluding the pension settlement & other charges, earnings would have been 56¢, 2¢ more than expected.  Revenue slipped 3% to $26.5B mainly to due to the sale of landline & wireless service areas. The stock fell 45¢ & offers a 6% yield.


Verizon Profit Beats Estimates as Smartphone Popularity Grows

Verizon   ---   2 years




It looks like a lot of traders began their weekend holiday early.  Trading is slowwww!  At least the high yielders remain in high territory, keeping their owners happy.

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