Dow dropped 29, advancers almost 3-2 over decliners & NAZ lost 4. The MLP inderx slipped a fraction to the 459s in what has been a tough week while the REIT index crawled up a fraction in the 282s. Junk bond funds fluctuated & Treasuries went sideways. Oil fell,
paring a 6th consecutive weekly gain, on speculation prices
have climbed more than justified as heating season approaches
its end. Gold went a little higher, firmly above the important 1300 support level.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
General Motors may see a 10% sales jump in China this year, matching its top-range forecast for industrywide growth in the nation, where consumers are buying more cars. The company plans 19 new or refreshed vehicles. GM, the 2nd largest foreign automaker in China, on that basis could see auto sales increase to about 3.5M this year from 3.16M in 2013. The company is forecasting an industry sales jump of 8-10% in the country. “Industry growth at 10 percent is probably an upside at this stage but we’re certainly working hard to keep up with that pace of growth or maybe go slightly ahead of that,” Matt Tsien, president of GM’s China operations, said. “We’ve got some exciting launches going on this year.” GM and its joint-venture partners this year are planning to introduce 19 new or refreshed vehicles, its largest market by volume, as the automaker looks to use gains from the country & North America to offset restructuring costs in Europe & elsewhere. Total industrywide vehicle sales in China rose 14% to almost 22M last year & may rise to more than 24M this year. GM’s China sales in 2013 represented an 11% increase from a year earlier. The stock was about even today.
If you would like to learn more on GM, click on this link:
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.04% | |
U.S. 2-year |
0.32% | |
U.S. 10-year |
2.75% |
| CLJ14.NYM | ....Crude Oil Apr 14 | ....102.14 |  ...0.61 | (0.6%) |
General Motors may see a 10% sales jump in China this year, matching its top-range forecast for industrywide growth in the nation, where consumers are buying more cars. The company plans 19 new or refreshed vehicles. GM, the 2nd largest foreign automaker in China, on that basis could see auto sales increase to about 3.5M this year from 3.16M in 2013. The company is forecasting an industry sales jump of 8-10% in the country. “Industry growth at 10 percent is probably an upside at this stage but we’re certainly working hard to keep up with that pace of growth or maybe go slightly ahead of that,” Matt Tsien, president of GM’s China operations, said. “We’ve got some exciting launches going on this year.” GM and its joint-venture partners this year are planning to introduce 19 new or refreshed vehicles, its largest market by volume, as the automaker looks to use gains from the country & North America to offset restructuring costs in Europe & elsewhere. Total industrywide vehicle sales in China rose 14% to almost 22M last year & may rise to more than 24M this year. GM’s China sales in 2013 represented an 11% increase from a year earlier. The stock was about even today.
If you would like to learn more on GM, click on this link:
GM Says China Auto Sales May Rise as Much as 10% This Year, Top of Range
Groupon stock tumbled, the most in a year, after the company forecast Q1 profit that trailed estimates on higher expenses for acquisitions & marketing. 2 acquisitions last month will hurt profit by $20M, the company said. That impact, plus $25M in additional expenses for marketing & growth initiatives, will lead to adjusted earnings before interest, taxes, depreciation & amortization of $20-40M. Analysts had estimated $96M. CEO Eric Lefkofsky has been pursuing acquisitions as he seeks to convert the company from daily e-mail deals to a service offering thousands of discounts. Last month, it completed its purchase of South Korean e-commerce marketplace Ticket Monster & agreed to acquire fashion site Ideeli for $43M in cash. The forecast put a damper on Q4 results, which exceeded estimates with stronger mobile sales. Sales rose 20% to $768M, beating the $718M estimate. Leaving out one-time items, EPS of 4¢ beat the 2¢ projection. The net loss per share was 12¢, little changed from a year earlier. The stock sank 2.24.
If you would like to learn more on GRPN, click on this link:
Groupon Revenue Exceeds Analysts’ Estimates on Stronger Mobile Sales
There was not a lot going on today. Some traders were nervous about comments from the Fed on reducing the bond buying program. When that is finished, higher rates will follow. With 2 months almost over, that could come this year. Dow dropped about 50 this week and continues in the red YTD.
General Motors (GM)
Groupon stock tumbled, the most in a year, after the company forecast Q1 profit that trailed estimates on higher expenses for acquisitions & marketing. 2 acquisitions last month will hurt profit by $20M, the company said. That impact, plus $25M in additional expenses for marketing & growth initiatives, will lead to adjusted earnings before interest, taxes, depreciation & amortization of $20-40M. Analysts had estimated $96M. CEO Eric Lefkofsky has been pursuing acquisitions as he seeks to convert the company from daily e-mail deals to a service offering thousands of discounts. Last month, it completed its purchase of South Korean e-commerce marketplace Ticket Monster & agreed to acquire fashion site Ideeli for $43M in cash. The forecast put a damper on Q4 results, which exceeded estimates with stronger mobile sales. Sales rose 20% to $768M, beating the $718M estimate. Leaving out one-time items, EPS of 4¢ beat the 2¢ projection. The net loss per share was 12¢, little changed from a year earlier. The stock sank 2.24.
If you would like to learn more on GRPN, click on this link:
Groupon Revenue Exceeds Analysts’ Estimates on Stronger Mobile Sales
Groupon (GRPN)
There was not a lot going on today. Some traders were nervous about comments from the Fed on reducing the bond buying program. When that is finished, higher rates will follow. With 2 months almost over, that could come this year. Dow dropped about 50 this week and continues in the red YTD.
Dow Jones Industrials
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