Dow jumped 185 closing at the high, advancers over decliners 3-1 & NAZ shot up 36. The MLP index rose 2+ to the 498s & the REIT index went up 2 to the 303s. Junk bond funds rose after recent selling & Treasuries rallied although there was selling in the PM on a sense of easing tensions in the Ukraine which reduced demand for safe haven investments. Oil was up slightly while gold dipped lower, but is still above 1300.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.4237789110534196)
Photo: Bloomberg
China's gov excluded Apple iPads & MacBook laptops from a list of products that can be bought with public money because of security concerns, according to gov official. 10 products, including the iPad, iPad Mini, MacBook Air & MacBook Pro, were omitted from a final gov procurement list distributed in Jul. The models were on a Jun version of the list drafted by the National Development & Reform Commission & Ministry of Finance. A separate procurement list includes some AAPL computers that departments can continue to buy on a smaller scale, defined as purchases totaling less than 1.2M yuan ($195K). AAPL is the latest US technology company to be excluded from Chinese gov purchases amid escalating tensions between the countries over claims of hacking & cyberspying. AAPL depended on greater China for about 16% of its $37.4B in revenue last qtr. IPad sales increased 51% & Mac sales by 39%, CEO Tim Cook said. The register applies to all central Communist Party depts, gov ministries & all local govs & the next review for the list will be in Jan. The stock went up 26¢. If you would like to learn more about AAPL, click on this link:
club.ino.com/trend/analysis/stock/AAPL?a_aid=CD3289&a_bid=6ae5b6f7
China Said to Exclude Apple From Procurement List
Photo: Bloomberg
Ukraine threatened to block Russian oil & gas supplies to Europe in new sanctions against Putin's gov, which it blames for a separatist uprising that has ravaged the country’s east. Ukraine, which no longer receives any gas from Russia but acts as a conduit for its neighbor’s European customers, is considering a “complete or partial ban on the transit of all resources” across its territory, Prime Minister Arseniy Yatsenyuk said. It may also ban Russian planes from its airspace & cut defense-industry cooperation. “There’s no doubt that Russia will continue its course -- started a decade ago -- aimed at banning imports of Ukrainian goods, limiting cooperation with Ukraine, pressure and blackmail,” Yatsenyuk said. “In the most negative scenario for Ukraine, losses during the first year may reach $7 billion, not only because of sanctions but also because of the Kremlin’s aggressive policy.” The threat may signal that the gov calculates it has little to lose. It comes a day after Russia banned food imports from Ukraine, the US & EU & other countries that blame it for stoking the geo-political crisis. Gas prices rose on the news of Ukraine’s sanctions plan, which would require parliamentary approval. Ukraine hasn’t received Russian gas since Jun 16, when OAO Gazprom cut its supplies in a debt & pricing dispute. The country will manage at least until the end of the year by using stored gas & reducing consumption, according to NAK Naftogaz Ukrainy CEO Andriy Kobolyev. Ukraine transported 86B cubic meters of Russian natural gas & 15.6M metric tons of oil last year, about half of Russia’s total gas exports, though less than 7% of oil shipments.
Ukraine Threatens Oil and Gas Cut-Off in Russia Sanctions
CBS EPS for Q2 topped estimates, boosted by share repurchases. The company doubled its buyback & raised the div. EPS before some items rose to 78¢ from 75¢ a year earlier & beat the 72¢ estimate. The buybacks & div increase countered a decline in revenue & operating income, as advertising sales fell. CBS had the largest audience decline of the 4 big broadcast networks among viewers in the 18-to-49 age group last season. The network enters the new season with a package of NFL games on Thurs nights. “We feel very good about the quarters ahead and about our long-term growth prospects as a content company going forward,” CEO Les Moonves said. CBS increased its stock-buyback program to $6B from $3B, while raising the quarterly div 25% to 15¢. EPS from continuing operations fell to 72¢. Sales dropped 5.4%, CBS said, citing the absence of college basketball semifinals & softness in the ad market. Revenue fell to $3.19B from $3.37B a year earlier but pretty much matched the $3.2B estimate. Network TV advertising “is accelerating nicely in the back half of the year,” buoyed by football & new programs, Moonves said. The stock rose 2.33. If you would like to learn more about CBS, click on this link:
club.ino.com/trend/analysis/stock/CBS?a_aid=CD3289&a_bid=6ae5b6f7
CBS Profit Beats Estimates on Buybacks as Dividend Is Boosted
Buying seemed to come from a relief rally, the world didn't end. Dow had fallen 800 in a couple of weeks, so bargain hunting was in order. Volume was sluggish with many traders taking long weekends. Next week, retailers will be reporting earnings & give guidance for the rest of the year. That could be less than encouraging. Intl conflicts remain at high levels. Ukraine is fuzzy at best, Hamas is firing rockets into Israel & the war in Iraq is heating up. Aug could be a tough month for the markets.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CLU14.NYM | ....Crude Oil Sep 14 | ....97.61 |  ...0.27 | (0.3%) |
China's gov excluded Apple iPads & MacBook laptops from a list of products that can be bought with public money because of security concerns, according to gov official. 10 products, including the iPad, iPad Mini, MacBook Air & MacBook Pro, were omitted from a final gov procurement list distributed in Jul. The models were on a Jun version of the list drafted by the National Development & Reform Commission & Ministry of Finance. A separate procurement list includes some AAPL computers that departments can continue to buy on a smaller scale, defined as purchases totaling less than 1.2M yuan ($195K). AAPL is the latest US technology company to be excluded from Chinese gov purchases amid escalating tensions between the countries over claims of hacking & cyberspying. AAPL depended on greater China for about 16% of its $37.4B in revenue last qtr. IPad sales increased 51% & Mac sales by 39%, CEO Tim Cook said. The register applies to all central Communist Party depts, gov ministries & all local govs & the next review for the list will be in Jan. The stock went up 26¢. If you would like to learn more about AAPL, click on this link:
club.ino.com/trend/analysis/stock/AAPL?a_aid=CD3289&a_bid=6ae5b6f7
China Said to Exclude Apple From Procurement List
Apple (AAPL)
Ukraine threatened to block Russian oil & gas supplies to Europe in new sanctions against Putin's gov, which it blames for a separatist uprising that has ravaged the country’s east. Ukraine, which no longer receives any gas from Russia but acts as a conduit for its neighbor’s European customers, is considering a “complete or partial ban on the transit of all resources” across its territory, Prime Minister Arseniy Yatsenyuk said. It may also ban Russian planes from its airspace & cut defense-industry cooperation. “There’s no doubt that Russia will continue its course -- started a decade ago -- aimed at banning imports of Ukrainian goods, limiting cooperation with Ukraine, pressure and blackmail,” Yatsenyuk said. “In the most negative scenario for Ukraine, losses during the first year may reach $7 billion, not only because of sanctions but also because of the Kremlin’s aggressive policy.” The threat may signal that the gov calculates it has little to lose. It comes a day after Russia banned food imports from Ukraine, the US & EU & other countries that blame it for stoking the geo-political crisis. Gas prices rose on the news of Ukraine’s sanctions plan, which would require parliamentary approval. Ukraine hasn’t received Russian gas since Jun 16, when OAO Gazprom cut its supplies in a debt & pricing dispute. The country will manage at least until the end of the year by using stored gas & reducing consumption, according to NAK Naftogaz Ukrainy CEO Andriy Kobolyev. Ukraine transported 86B cubic meters of Russian natural gas & 15.6M metric tons of oil last year, about half of Russia’s total gas exports, though less than 7% of oil shipments.
Ukraine Threatens Oil and Gas Cut-Off in Russia Sanctions
CBS EPS for Q2 topped estimates, boosted by share repurchases. The company doubled its buyback & raised the div. EPS before some items rose to 78¢ from 75¢ a year earlier & beat the 72¢ estimate. The buybacks & div increase countered a decline in revenue & operating income, as advertising sales fell. CBS had the largest audience decline of the 4 big broadcast networks among viewers in the 18-to-49 age group last season. The network enters the new season with a package of NFL games on Thurs nights. “We feel very good about the quarters ahead and about our long-term growth prospects as a content company going forward,” CEO Les Moonves said. CBS increased its stock-buyback program to $6B from $3B, while raising the quarterly div 25% to 15¢. EPS from continuing operations fell to 72¢. Sales dropped 5.4%, CBS said, citing the absence of college basketball semifinals & softness in the ad market. Revenue fell to $3.19B from $3.37B a year earlier but pretty much matched the $3.2B estimate. Network TV advertising “is accelerating nicely in the back half of the year,” buoyed by football & new programs, Moonves said. The stock rose 2.33. If you would like to learn more about CBS, click on this link:
club.ino.com/trend/analysis/stock/CBS?a_aid=CD3289&a_bid=6ae5b6f7
CBS Profit Beats Estimates on Buybacks as Dividend Is Boosted
CBS Corp (CBS)
Buying seemed to come from a relief rally, the world didn't end. Dow had fallen 800 in a couple of weeks, so bargain hunting was in order. Volume was sluggish with many traders taking long weekends. Next week, retailers will be reporting earnings & give guidance for the rest of the year. That could be less than encouraging. Intl conflicts remain at high levels. Ukraine is fuzzy at best, Hamas is firing rockets into Israel & the war in Iraq is heating up. Aug could be a tough month for the markets.
Dow Jones Industrials
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