No Catalysts For Stocks

RELATED QUOTES

SymbolPriceChange
MCO109.99+1.00
ETN63.41+0.51
ATVI44.21+0.23
LNKD192.20-0.84

Friday, February 8, 2013

Positive trade data out of China and the U.S. should perk up the market’s spirits a bit, but will likely prove not enough to fully reverse Thursday’s losses. The market is in a somewhat of a news valley at present, with not much on the earnings and economic docket to give it a clear directional nudge. The trend will likely continue next week as well, though the January Retail Sales data coming next week (Wednesday) will give us a good sense of the impact of payroll tax hikes on consumer spending.
 
The U.S. trade deficit narrowed more than expected in December, reversing the surge from the month before, and essentially confirming that the fourth quarter GDP growth number will be revised upwards.

The first read on fourth quarter GDP that came out last week and showed -0.1% decline reflected the Commerce Department’s estimate of December trade deficit. This morning’s trade deficit number is significantly lower than what was imbedded in Commerce’s advance GDP number. Everything else constant, this narrower than expected deficit number by itself would amount to raising the Q4 GDP growth rate from +0.5% to +0.7%. Bottom line, the Q4 GDP number is actually is actually in the positive territory. This may not be a surprise for the market anyway as investors had largely discounted the negative GDP print on the day that it came out.
 
The other trade data today came from China, further confirming the positive momentum that we have been seeing lately in that country’s economic numbers. The consensus view on China is that the country’s economy has turned around, with the long-feared ‘hard landing’ no longer an expected outcome. The comment from Eaton Corp (ETN) CEO earlier this week that China’s actual economic growth in 2012 was half of the official GDP numbers would indicate that the ‘hard-landing’ may have come and gone already.
 
On the earnings front, we got better than expected results from Moody’s (MCO) this morning and LinkedIn (LNKD) and Activision Blizzard (ATVI) after the close on Thursday. The overall scorecard for the Q4 earnings season as of this morning shows that we have seen results from 342 S&P 500 companies (77.1% of the index’s total market cap).

Total earnings for these 342 companies are up +2.8%, with 67% of the companies beating earnings expectations. On the revenue side, 63.5% of the companies have come ahead of expectations and total revenues are up +0.9%. This is a better performance relative to both pre-season expectations and what these same companies reported in the third quarter. We have started seeing estimates for the coming quarters come down in recent weeks. But they still represent a material ramp up from what we have been seeing lately.
 
Sheraz Mian
Director of Research

Read the analyst report on MCO

Read the analyst report on ETN

Read the analyst report on ATVI

Read the analyst report on LNKD

Zacks Investment Research


 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

More From Zacks.com

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • ECB needs help from other policy areas as 'lower bound' looms
    ECB needs help from other policy areas as 'lower bound' looms Reuters - 6 minutes ago

    FRANKFURT (Reuters) - The European Central Bank's monetary stimulus needs to be complemented by action in other policy areas as the ECB is already operating near a "lower bound" where interest ... … More »

  • Malaysia's SapuraKencana posts quarterly profit on forex gain Reuters - 7 minutes ago

    Net profit rose nearly 8 percent to 112.3 million ringgit ($27.16 million) in its second quarter ended July 31 from 104.1 million ringgit a year earlier, the company said in a filing with the stock exchange. Revenue, however, fell to 1.68 billion … More »

  • Brewer AB InBev shareholders approve takeover of rival SABMiller
    Brewer AB InBev shareholders approve takeover of rival SABMiller AFP News - 15 minutes ago

    Shareholders of brewing giant Anheuser-Busch InBev approved the blockbuster takeover of rival SABMiller, the brewer said on Wednesday, clearing a major hurdle towards one of the biggest mergers ever attempted. … More »

  • Asian markets down, energy firms hit by oil deal woes
    Asian markets down, energy firms hit by oil deal woes AFP News - 18 minutes ago

    Tokyo stocks led a broad retreat in Asian markets Wednesday as the yen recovered, while regional energy firms struggled with crude prices on concern about the chances of success at an upcoming producers' meeting. Standard Chartered Bank fell two … More »

  • AB InBev to retain its name after SABMiller takeover Reuters - 36 minutes ago

    BRUSSELS (Reuters) - Anheuser-Busch InBev said on Wednesday that it would retain its existing name after a planned $100-billion-plus (76.89 billion pounds) takeover of rival SABMiller. SABMiller shareholders ... … More »

  • UK's Phoenix to buy Deutsche Bank's Abbey Life for $1.22 billion Reuters - 1 hour 4 minutes ago

    (Reuters) - Phoenix Group Holdings, Britain's largest owner of life assurance funds closed to new customers, said it would buy Deutsche Bank AG's British insurance business Abbey Life Assurance Co for ... … More »

  • Two new tsars to be created as Airbus reorganisation takes shape
    Two new tsars to be created as Airbus reorganisation takes shape Reuters - 1 hour 8 minutes ago

    Airbus Group Chief Executive Tom Enders plans to expand a shake-up of Europe’s largest aerospace group by promoting two executives to oversee engineering and programmes as he forces through more "integration" to prepare for future competition. … More »

  • JTC launches Tuas site for sale
    JTC launches Tuas site for sale The Edge Property - 1 hour 11 minutes ago

    JTC has launced a confirmed-list site at Tuas South Link 2 (Plot 11) for sale by public tender. It is the third of the seven confirmed-list sites for the 2H2016 Industrial Government Land Sales Programme.The 53,997 sq ft site is zoned for business 2 … More »

  • Oil stages tepid rebound as hopes ease for output deal AFP - 1 hour 11 minutes ago

    Oil prices posted marginal gains in Asia Wednesday as an industry report showing a decline in US stockpiles was offset by worries about the chances of this week's key producers meeting ending with a deal ... … More »

  • Gold hits one-week low as dollar firms
    Gold hits one-week low as dollar firms Reuters - 1 hour 11 minutes ago

    Gold prices slipped on Wednesday to touch a one-week low, after suffering its biggest single-day loss in nearly a month in the previous session, on a firmer dollar. The safe haven asset slid nearly 1 percent on Tuesday, its biggest single session … More »

  • Motoring group AA posts first half revenue rise, sees no Brexit impact Reuters - 1 hour 15 minutes ago

    The results strip out any contribution from AA Ireland, which AA agreed to sell to a Carlyle Group fund and financial services buyout team in June for 156.6 million euros. The firm said it had not seen any impact of Brexit-related issues on its … More »

  • World Bank releases $300 mn for Syrian refugees in Jordan
    World Bank releases $300 mn for Syrian refugees in Jordan AFP News - 1 hour 15 minutes ago

    The World Bank announced it will release $300 million in loans to help facilitate the labor market for Syrian refugees in Jordan. The funds will be used to attract investors and create reforms that will help grant access to the Syrian labor force, … More »

  • European stocks climb at open AFP - 1 hour 16 minutes ago

    Europe's main stock markets rose at the open of trading on Wednesday, with London's benchmark FTSE 100 index climbing 0.3 percent to 6,826.28 points. In the eurozone, Frankfurt's DAX 30 grew 0.6 percent ... … More »

  • Zuckerberg initiative poaches AstraZeneca board member Reuters - 1 hour 16 minutes ago

    The $3 billion (2.3 billion pounds) health initiative set up by Facebook co-founder Mark Zuckerberg and his wife Priscilla Chan has hired one of AstraZeneca's non-executive directors to head up its science drive. The British drugmaker said on … More »

  • Yellen likely to face questions about Wells Fargo
    Yellen likely to face questions about Wells Fargo Associated Press - 1 hour 17 minutes ago

    Federal Reserve Chair Janet Yellen, who has been in the hot seat over the central bank's interest-rate policy, now has another headache: Wells Fargo. Yellen is likely to face sharp questions from a House ... … More »

  • Rolls-Royce appoints new strategy and digital executives Reuters - 1 hour 19 minutes ago

    British engineer Rolls-Royce appointed veteran M&A banker Ben Story to oversee its strategy and marketing, and Neil Crockett to develop its digital affairs, completing its new-look senior line up on Wednesday. Rolls-Royce, in the middle of a major … More »

  • BELOW $1 MILLION: Freehold one-bedder near Dhoby Ghaut
    BELOW $1 MILLION: Freehold one-bedder near Dhoby Ghaut The Edge Property - 1 hour 21 minutes ago

    A 474 sq ft one-bedroom unit at Parc Sophia has been listed on TheEdgeProperty.com at $898,000 or $1,895 psf.Parc Sophia is a freehold apartment on Adis Road. Completed in 2011, the 152-unit development is within 300m from Dhoby Ghaut MRT … More »

  • Trump has turned over tax returns _ for lawsuits and loans
    Trump has turned over tax returns _ for lawsuits and loans Associated Press - 1 hour 28 minutes ago

    While Donald Trump won't publicly release his income tax returns, the New York businessman has turned them over when it suited his needs — if he stood to make a profit, needed a loan or when a judge forced ... … More »

  • US fines RBS bank $1.1 bn over pre-crisis mortgages
    US fines RBS bank $1.1 bn over pre-crisis mortgages AFP News - 1 hour 32 minutes ago

    Royal Bank of Scotland on Wednesday said it had agreed a fine of $1.1 billion (982 million euros) with US authorities over the alleged mis-selling of mortgage securities ahead of the 2008 financial crisis. It comes a week after US authorities said … More »

  • Asian stock markets turn lower after Wall Street gains
    Asian stock markets turn lower after Wall Street gains Associated Press - 1 hour 38 minutes ago

    Major Asian stock markets were lower Wednesday after investors were reassured by trade-friendly Hillary Clinton's performance in a U.S. presidential debate with rival Donald Trump. KEEPING SCORE: Tokyo's ... … More »

  • Travel firm TUI Group nudges up full-year profit outlook
    Travel firm TUI Group nudges up full-year profit outlook Reuters - 1 hour 42 minutes ago

    Holiday company TUI Group lifted its 2015/16 core profit guidance on Wednesday, helped by strong demand from British tourists and a lower exposure than its biggest rival to Turkey which has been hit by security fears. TUI said on Wednesday that it … More »

  • Shareholders vote on AB Inbev-SABMiller beer megamerger
    Shareholders vote on AB Inbev-SABMiller beer megamerger AFP News - 1 hour 44 minutes ago

    Shareholders of brewing giants Anheuser-Busch InBev and rival SABMiller will vote on Wednesday on a blockbuster merger that would create the biggest beer company in the world. Belgium-based AB InBev, the brewer of Budweiser and Stella Artois, is … More »

  • Oil climbs after industry data shows U.S. inventory draw
    Oil climbs after industry data shows U.S. inventory draw Reuters - 1 hour 45 minutes ago

    Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains. … More »

  • 10 things in tech you need to know today
    10 things in tech you need to know today Business Insider - 1 hour 46 minutes ago

    Reuters/Beck Diefenbach Good morning! Here’s the tech news … Continued The post 10 things in tech you need to know today appeared first on Business Insider. … More »

  • Canada approves $36 bn LNG project, eyes Asia
    Canada approves $36 bn LNG project, eyes Asia AFP News - 1 hour 48 minutes ago

    Canada approved a massive Can$36 billion ($27 billion USD) project by Malaysia's Petronas to build a liquefied natural gas pipeline along its Pacific Northwest coast, targeting Asian markets. The project is the first deal by Canada's year-old … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.15+0.01+6.38%
    N21.SI
    0.97+0.01+0.52%
    Y92.SI
    0.144+0.002+1.41%
    5DM.SI
    3.990.000.00%
    Z74.SI
    0.67+0.05+7.20%
    BMT.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.24+0.05+26.32%
    AWI.SI
    0.15+0.02+15.38%
    RF7.SI
    0.215+0.026+13.76%
    I07.SI
    0.13+0.01+8.33%
    5UE.SI
    0.161+0.011+7.33%
    5PL.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.112-0.028-20.00%
    BEH.SI
    0.22-0.03-13.73%
    AZT.SI
    0.66-0.05-7.04%
    BTE.SI
    0.40-0.03-6.98%
    B58.SI
    0.325-0.005-1.52%
    BEW.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3611+0.0016+0.12%
    USDSGD=X
    1.5248-0.0001-0.01%
    EURSGD=X
    1.7690-0.0012-0.07%
    GBPSGD=X
    73.9970+0.141+0.19%
    SGDJPY=X
    5.6954-0.0069-0.12%
    SGDHKD=X
    3.0408+0.0018+0.06%
    SGDMYR=X
    9,522.0586-6.3945-0.07%
    SGDIDR=X
    4.9014-0.0041-0.08%
    SGDCNY=X
    1.0447+0.0025+0.24%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,326.60-3.80-0.29%
    GCZ16.CMX
    19.11-0.05-0.26%
    SIZ16.CMX
    92.98-1.47-1.55%
    ^XAU
    2.18+0.01+0.55%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.11-0.02
    ^FVX
    1.56-0.03
    ^TNX
    2.28-0.05
    ^TYX