Dow lost 175, decliners over advancers 2-1 & NAZ dropped 24. The MLP index slid pocket change in the 463s & the REIT index slipped 1+ to the 273s. Junk bond funds inched higher & Treasuries soared, with the yield on the 10 year bond falling 9 basis points. Oil rose
to a 3 week high after a report showed that US distillate
supplies tumbled as cold weather bolstered heating demand & gold jumped $24 as stocks declined.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Photo: Bloomberg
In Dec, sales of previously owned homes went up for the first time in 5 months, capping the best year since 2006 & indicating the real-estate market is starting to adjust to higher borrowing costs. Purchases rose 1% to a 4.87M annual pace, according to the National Association of Realtors. Faster employment growth, rising property values & a decline in consumer debt are giving would-be buyers the confidence to take the plunge into homeownership. Growing demand will also spur new construction & home improvements that will boost GDP in 2014. 5.09M previously owned houses were sold in 2013 compared with 4.66M the prior year & the most since 2006. Purchases reached a 5.39M annualized pace in Jul & Aug, a 4 year high, before a jump in mortgage rates crimped demand.
Baxter Labs Q4 profit that beat estimates on demand for hemophilia therapies. EPS, excluding one-time items, was $1.26, beating by a penny the estimate. Sales rose 16% to $4.4B, boosted by the Advate & Feiba hemophilia treatments & the acquisition of Sweden's Gambro. EPS excluding one-time items for 2014 will probably be $5.05-$5.25, the company said, which excludes 25¢ in amortization expenses. But EPS in Q4 fell to 59¢ from 89¢ last year. The results were weighed down by $366M in one-time items that included the cost of acquiring Gambro. In Dec 2012 it agreed to acquire Gambro for 18.3B kronor ($2.8B), adding about $1.6B in annual sales. The stock fell 74¢.
If you would like to learn more about BAX, click here: http://club.ino.com/trend/?symb=BAX&a_aid=CD3289&a_bid=6ae5b6f7
Baxter’s Profit Beats Analysts’ Estimates on Sales of Hemophilia Products
McDonalds, a Dow stock, Q4 profit was little changed from a year earlier as US same-store sales fell amid shaky consumer confidence & increased competition. EPS was $1.40, above $1.38 a year earlier & analysts' estimates of $1.39. CEO Don Thompson has been advertising the chain’s new Dollar Menu & More, which has items priced at $1 & $2, to lure customers amid falling consumer confidence. The company, which in 2012 got 32% of revenue in the US, is also facing heightened competition selling more lower-priced sandwiches. Sales at the US locations open at least 13 months fell 1.4% in Q4. Analysts estimated a drop of 0.2%. Jan comparable-store sales are expected to be unchanged globally, Thompson said. Same-store sales fell 0.1% globally in Q4 versus an estimate of a 0.5% increase by analysts. Comparable-store sales advanced 1% in Europe & declined 2.4% in the Asia Pacific, Middle East & Africa region. Same-store sales are considered an indicator of a company’s growth because they include only older, established locations. Revenue rose 2% to $7.09B, trailing the estimate of $7.11B. The company has almost 35K restaurants worldwide & 81% of those are franchised. MCD plans to open as many as 1600 new stores this year & remodel more than 1K. The stock rose 44¢.
If you would like to learn more about MCD, click here: http://club.ino.com/trend/?symb=MCD&a_aid=CD3289&a_bid=6ae5b6f7
McDonald’s Quarterly Profit Is Little Changed as U.S. Store Sales Decline
Stocks are having a tough time finding friends in Jan. Dow has fallen nearly 400 this month & it's increasingly likely that it will extend its decline to the entire month, a negative indicator for the balance of the year. Earnings season has not been greeted with a warm reception by investors. Maybe it reflects the cold weather around much of the US. Whatever, the overbought market will need a lot of help if it wants another winning year.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.04% | |
U.S. 2-year |
0.36% | |
U.S. 10-year |
2.78% |
| CLH14.NYM | ...Crude Oil Mar 14 | ....97.51 |  ...0.78 | (0.8%) |
In Dec, sales of previously owned homes went up for the first time in 5 months, capping the best year since 2006 & indicating the real-estate market is starting to adjust to higher borrowing costs. Purchases rose 1% to a 4.87M annual pace, according to the National Association of Realtors. Faster employment growth, rising property values & a decline in consumer debt are giving would-be buyers the confidence to take the plunge into homeownership. Growing demand will also spur new construction & home improvements that will boost GDP in 2014. 5.09M previously owned houses were sold in 2013 compared with 4.66M the prior year & the most since 2006. Purchases reached a 5.39M annualized pace in Jul & Aug, a 4 year high, before a jump in mortgage rates crimped demand.
Baxter Labs Q4 profit that beat estimates on demand for hemophilia therapies. EPS, excluding one-time items, was $1.26, beating by a penny the estimate. Sales rose 16% to $4.4B, boosted by the Advate & Feiba hemophilia treatments & the acquisition of Sweden's Gambro. EPS excluding one-time items for 2014 will probably be $5.05-$5.25, the company said, which excludes 25¢ in amortization expenses. But EPS in Q4 fell to 59¢ from 89¢ last year. The results were weighed down by $366M in one-time items that included the cost of acquiring Gambro. In Dec 2012 it agreed to acquire Gambro for 18.3B kronor ($2.8B), adding about $1.6B in annual sales. The stock fell 74¢.
If you would like to learn more about BAX, click here: http://club.ino.com/trend/?symb=BAX&a_aid=CD3289&a_bid=6ae5b6f7
Baxter’s Profit Beats Analysts’ Estimates on Sales of Hemophilia Products
Baxter International (BAX)
McDonalds, a Dow stock, Q4 profit was little changed from a year earlier as US same-store sales fell amid shaky consumer confidence & increased competition. EPS was $1.40, above $1.38 a year earlier & analysts' estimates of $1.39. CEO Don Thompson has been advertising the chain’s new Dollar Menu & More, which has items priced at $1 & $2, to lure customers amid falling consumer confidence. The company, which in 2012 got 32% of revenue in the US, is also facing heightened competition selling more lower-priced sandwiches. Sales at the US locations open at least 13 months fell 1.4% in Q4. Analysts estimated a drop of 0.2%. Jan comparable-store sales are expected to be unchanged globally, Thompson said. Same-store sales fell 0.1% globally in Q4 versus an estimate of a 0.5% increase by analysts. Comparable-store sales advanced 1% in Europe & declined 2.4% in the Asia Pacific, Middle East & Africa region. Same-store sales are considered an indicator of a company’s growth because they include only older, established locations. Revenue rose 2% to $7.09B, trailing the estimate of $7.11B. The company has almost 35K restaurants worldwide & 81% of those are franchised. MCD plans to open as many as 1600 new stores this year & remodel more than 1K. The stock rose 44¢.
If you would like to learn more about MCD, click here: http://club.ino.com/trend/?symb=MCD&a_aid=CD3289&a_bid=6ae5b6f7
McDonald’s Quarterly Profit Is Little Changed as U.S. Store Sales Decline
McDonald's (MCD)
Stocks are having a tough time finding friends in Jan. Dow has fallen nearly 400 this month & it's increasingly likely that it will extend its decline to the entire month, a negative indicator for the balance of the year. Earnings season has not been greeted with a warm reception by investors. Maybe it reflects the cold weather around much of the US. Whatever, the overbought market will need a lot of help if it wants another winning year.
Dow Jones Industrials
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