Dow dropped 142, decliners over advancers a very big 4-1 & NAZ sank 77. The MLP index was fractionally higher in the 451s & the REIT index plunged 6+ to the 315s. Junk bond funds were mixed & Treasuries retreated. Oil closed above 60, a sense of relief for the bulls, & gold inched higher, but remains under 1200.
AMJ (Alerian MLP Index tracking fund)
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Kellogg reported better-than-expected quarterly profit & sales as demand rose in Latin America. The said sales in Latin America rose 6% to $295M in Q1. The company's sales rose across product lines in Asia Pacific & in its Pringles business in Europe, but a strong dollar more than offset the benefit of this rise. The dollar has surged about 20% against a basket of major currencies in the past year, making sales denominated in other currencies less valuable in dollar terms. Kellogg gets about 1/3 of its revenue from outside North America. Sales in the US morning foods business, which includes cereal, fell almost 3% to $776M. The business has reported a rise in sales only once in the last 8 qtrs. EPS nearly halved to 64¢, mainly due to higher expenses related to its cost-cutting program & its pension plans. Excluding items, EPS was 98¢ & net sales fell 5% to $3.56B. Analysts expected EPS of 91¢ on revenue of $3.55B. The stock sank 96¢. If you would like to learn more about Kellogg, click on this link:
club.ino.com/trend/analysis/stock/K?a_aid=CD3289&a_bid=6ae5b6f7
Kellogg Profit Beats as Latin America Sales Rise
Walt Disney, a Dow stock, quarterly revenue beat expectations, helped by increased spending by visitors at its theme parks & strength in the company's TV networks business. Results were also boosted by a surge in sales of toys & merchandise related to blockbuster animated film "Frozen". While the studio business failed to keep pace with last year's "Frozen"-fueled growth, "The Avengers: Age of Ultron" is expected to boost revenue in the current qtr. The sequel opened last weekend with $191M in ticket sales in the US & Canada, the 2nd-biggest opening of all time. Revenue at theme parks rose 6% to $3.76B, pushing up the unit's operating income 24% as ticket prices & hotel room rates increased & visitors spent more on food, drinks and merchandise. Total revenue rose 7% to $12.46B, topping the estimate of $12.25B. EPS of $1.23 also beat the of $1.11 estimate. The media networks business, which includes sports powerhouse ESPN, the Disney channels & ABC, reported a 13% rise in revenue to $5.81B, helped by higher ad sales & affiliate fees. Higher programing & production costs at ESPN, however, pushed the unit's operating income down 2%. Revenue at the studio business dropped 6% to $1.69B, while sales at the consumer products division rose 10%. The stock lost 22¢. If you would like to learn more about DIS, click on this link:
club.ino.com/trend/analysis/stock/DIS?a_aid=CD3289&a_bid=6ae5b6f7
HCP, the highest yielding Dividend Aristocrat, reported a key measure of profitability in its Q1 & results topped expectations. The REIT said it had funds from operations (FFO) of 79¢ per share, topping the estimate of 78¢. FFO is a closely watched measure in the REIT industry. It takes net income & adds back items such as depreciation & amortization. This money is used to pay divs. However, the company said it had a loss of 52¢ per share. The health care real estate investment trust posted revenue of $611M in the period. HCP now expects full-year FFO per share of $3.09-$3.15. The stock was off 1.20. If you would like to learn more about HCP, click on this link:
club.ino.com/trend/analysis/stock/HCP?a_aid=CD3289&a_bid=6ae5b6f7
Unsettle conditions, political & economic, got thru to the market today. All is not going well even though the popular stock averages are essentially at record levels. Dow is back under 18K & NAZ dropped below 5K. Dow reached this level in early Dec. This is shaping up as a glum month for stocks.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CLM15.NYM | ....Crude Oil Jun 15 | ....60.38 |  ...1.45 | (2.5%) |
Kellogg reported better-than-expected quarterly profit & sales as demand rose in Latin America. The said sales in Latin America rose 6% to $295M in Q1. The company's sales rose across product lines in Asia Pacific & in its Pringles business in Europe, but a strong dollar more than offset the benefit of this rise. The dollar has surged about 20% against a basket of major currencies in the past year, making sales denominated in other currencies less valuable in dollar terms. Kellogg gets about 1/3 of its revenue from outside North America. Sales in the US morning foods business, which includes cereal, fell almost 3% to $776M. The business has reported a rise in sales only once in the last 8 qtrs. EPS nearly halved to 64¢, mainly due to higher expenses related to its cost-cutting program & its pension plans. Excluding items, EPS was 98¢ & net sales fell 5% to $3.56B. Analysts expected EPS of 91¢ on revenue of $3.55B. The stock sank 96¢. If you would like to learn more about Kellogg, click on this link:
club.ino.com/trend/analysis/stock/K?a_aid=CD3289&a_bid=6ae5b6f7
Kellogg Profit Beats as Latin America Sales Rise
Kellogg (K)
Walt Disney, a Dow stock, quarterly revenue beat expectations, helped by increased spending by visitors at its theme parks & strength in the company's TV networks business. Results were also boosted by a surge in sales of toys & merchandise related to blockbuster animated film "Frozen". While the studio business failed to keep pace with last year's "Frozen"-fueled growth, "The Avengers: Age of Ultron" is expected to boost revenue in the current qtr. The sequel opened last weekend with $191M in ticket sales in the US & Canada, the 2nd-biggest opening of all time. Revenue at theme parks rose 6% to $3.76B, pushing up the unit's operating income 24% as ticket prices & hotel room rates increased & visitors spent more on food, drinks and merchandise. Total revenue rose 7% to $12.46B, topping the estimate of $12.25B. EPS of $1.23 also beat the of $1.11 estimate. The media networks business, which includes sports powerhouse ESPN, the Disney channels & ABC, reported a 13% rise in revenue to $5.81B, helped by higher ad sales & affiliate fees. Higher programing & production costs at ESPN, however, pushed the unit's operating income down 2%. Revenue at the studio business dropped 6% to $1.69B, while sales at the consumer products division rose 10%. The stock lost 22¢. If you would like to learn more about DIS, click on this link:
club.ino.com/trend/analysis/stock/DIS?a_aid=CD3289&a_bid=6ae5b6f7
Disney Jumps as Fiscal 2Q Results Beat Views
Walt Disney (DIS)
HCP, the highest yielding Dividend Aristocrat, reported a key measure of profitability in its Q1 & results topped expectations. The REIT said it had funds from operations (FFO) of 79¢ per share, topping the estimate of 78¢. FFO is a closely watched measure in the REIT industry. It takes net income & adds back items such as depreciation & amortization. This money is used to pay divs. However, the company said it had a loss of 52¢ per share. The health care real estate investment trust posted revenue of $611M in the period. HCP now expects full-year FFO per share of $3.09-$3.15. The stock was off 1.20. If you would like to learn more about HCP, click on this link:
club.ino.com/trend/analysis/stock/HCP?a_aid=CD3289&a_bid=6ae5b6f7
HCP reports 1Q results
HCP, Inc. (HCP)
Unsettle conditions, political & economic, got thru to the market today. All is not going well even though the popular stock averages are essentially at record levels. Dow is back under 18K & NAZ dropped below 5K. Dow reached this level in early Dec. This is shaping up as a glum month for stocks.
Dow Jones Industrials
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