Dow fell 35, advancers ahead of decliners 5-2 & NAZ gained 32. The MLP index jumped 4+ to the 454s & the REIT index was up 2+ to the 296s. Junk bond funds were higher & Treasuries eased back. Oil rose for a 2nd day, paring
its 3rd weekly drop, on speculation that declines were
excessive & as the € increased against the dollar. Bargain hunters are buying gold at its depressed levels.
AMJ (Alerian MLP Index tracking fund)
Photo: Yahoo
McDonald's, a Dow stock & Dividend Aristocrat, Q1 profit rose but fell short of market expectations, undermined by weaker intl sales & US consumers that appeared to dine out less. The fast-food giant reported EPS excluding items of $1.26, up from $1.23 a year earlier. Revenue increased to $6.6B from $6.55B a year ago. US comparable sales fell 1.2%, while falling 1.1% in Europe. In both regions, MCD cited economic uncertainty. Analysts had expected EPS excluding items of $1.27 on $6.59B in revenue. "While the company's results for the quarter reflected difficult prior year comparisons and the ongoing impact of global economic headwinds, we continue our efforts to build market share and deliver sustained profitable growth for all stakeholders," CEO Don Thompson said. The stock lost 1.91.
McDonald’s Profit Little Changed as U.S. Sales Slide
Photo: Yahoo
General Electric, another Dow stock, Q1 EPS topped expectations, as it sold more oil & gas drilling equipment & shed its stake in NBC Universal. Weakness in Europe, though, limited gains in sales of power & water equipment. GE posted operating earnings, excluding items, of 39¢, compared to 34¢ last year. Revenue slipped to $35.0B from $35.18 B a year ago, but it topped estimates. Analysts had expected EPS of 35¢ on $34.5B in revenue. Earlier this year, GE sold its stake in NBC Universal to Comcast (CMCSA) for $16.7B. Orders surged, with aviation up 47%, gas gaining 24% & equipment rising 10%. CEO Jeff Imelt said that markets were mixed, with strength coming from the US & emerging markets but Europe showing weakness. GE Capital earnings rose 9%. "Despite the challenging macro environment, GE is well- positioned for stronger performance for the remainder of the year and we are executing on our strategic priorities," Immelt said. The stock lost 89¢,
Photo: Bloomberg
Google EPS profit topped analysts’ estimates as advertisers increased spending on mobile & video promotions. Q1 EPS was $11.58, beating the forecast of $10.68 & net income increased 16% to $3.35B ($9.94 a share). Search & video businesses bolstered results. Revenue, excluding sales passed on to partner sites, rose to $11B, compared to a projection of $11.2B by analysts. The company benefited from a federal credit that helped reduce its tax rate & boost earnings, said CFO Patrick Pichette. The effective tax rate was 8%, less than half the 18% last year. The average amount that advertisers paid each time a user clicks on a promotion decreased 4%, following a 6% decline in the previous qtr. The total number of clicks advanced 20%, after a 24% gain Q4. Analysts had predicted the cost per click would fall 2%, while the overall number would climb 20%. The new push in mobile includes the $12B acquisition of Motorola Mobility, which makes smartphones that run on the Android software. The stock rose almost $20.
Stocks are meandering again, although bulls will take that over another declining market. Earnings are coming & they are not impressive. MLPs have seen selling off in Apr but buyers are bringing the index back to within 1 of the record high reached 2 weeks ago. Worldwide economic fundamentals remain soggy & sellers are taking control of the markets.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.053% | |
U.S. 2-year |
0.228% | |
U.S. 10-year |
1.708% |
| CLK13.NYM | ...Crude Oil May 13 | ...87.84 |  .....0.11 | (0.1%) |
| GCJ13.CMX | ....Gold Apr 13 | ......1,402.70 | ...10.70 | (0.8%) |
Photo: Yahoo
McDonald's, a Dow stock & Dividend Aristocrat, Q1 profit rose but fell short of market expectations, undermined by weaker intl sales & US consumers that appeared to dine out less. The fast-food giant reported EPS excluding items of $1.26, up from $1.23 a year earlier. Revenue increased to $6.6B from $6.55B a year ago. US comparable sales fell 1.2%, while falling 1.1% in Europe. In both regions, MCD cited economic uncertainty. Analysts had expected EPS excluding items of $1.27 on $6.59B in revenue. "While the company's results for the quarter reflected difficult prior year comparisons and the ongoing impact of global economic headwinds, we continue our efforts to build market share and deliver sustained profitable growth for all stakeholders," CEO Don Thompson said. The stock lost 1.91.
McDonald’s Profit Little Changed as U.S. Sales Slide
McDonald's (MCD)
Photo: Yahoo
General Electric, another Dow stock, Q1 EPS topped expectations, as it sold more oil & gas drilling equipment & shed its stake in NBC Universal. Weakness in Europe, though, limited gains in sales of power & water equipment. GE posted operating earnings, excluding items, of 39¢, compared to 34¢ last year. Revenue slipped to $35.0B from $35.18 B a year ago, but it topped estimates. Analysts had expected EPS of 35¢ on $34.5B in revenue. Earlier this year, GE sold its stake in NBC Universal to Comcast (CMCSA) for $16.7B. Orders surged, with aviation up 47%, gas gaining 24% & equipment rising 10%. CEO Jeff Imelt said that markets were mixed, with strength coming from the US & emerging markets but Europe showing weakness. GE Capital earnings rose 9%. "Despite the challenging macro environment, GE is well- positioned for stronger performance for the remainder of the year and we are executing on our strategic priorities," Immelt said. The stock lost 89¢,
General Electric (GE)
Photo: Bloomberg
Google EPS profit topped analysts’ estimates as advertisers increased spending on mobile & video promotions. Q1 EPS was $11.58, beating the forecast of $10.68 & net income increased 16% to $3.35B ($9.94 a share). Search & video businesses bolstered results. Revenue, excluding sales passed on to partner sites, rose to $11B, compared to a projection of $11.2B by analysts. The company benefited from a federal credit that helped reduce its tax rate & boost earnings, said CFO Patrick Pichette. The effective tax rate was 8%, less than half the 18% last year. The average amount that advertisers paid each time a user clicks on a promotion decreased 4%, following a 6% decline in the previous qtr. The total number of clicks advanced 20%, after a 24% gain Q4. Analysts had predicted the cost per click would fall 2%, while the overall number would climb 20%. The new push in mobile includes the $12B acquisition of Motorola Mobility, which makes smartphones that run on the Android software. The stock rose almost $20.
Google (GOOG)
Stocks are meandering again, although bulls will take that over another declining market. Earnings are coming & they are not impressive. MLPs have seen selling off in Apr but buyers are bringing the index back to within 1 of the record high reached 2 weeks ago. Worldwide economic fundamentals remain soggy & sellers are taking control of the markets.
Dow Jones Industrials
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