The Dow increased 22.32 points (or 0.22%) closing at 10032.05, the Nasdaq was down 5.94 points (or 0.28%) to finish at 2114.03 and the S&P was up 1.31 points (or 0.12%) to finish at 1050.23.
Today's movement came from higher than avg. volume (NYSE 1401 closing avg of 1307 Nasdaq 2119, 2045), with advancers outpacing decliners on the NYSE and decliners outpacing advancers on the Nasdaq (NYSE 1654/1332 Nasdaq 1264/1320), and with new highs ou…
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Posted by ken flagg on August 31, 2010 at 6:51pm
Joy Global is scheduled to report third quarter earnings before the open tomorrow with the conference call scheduled for 11:00am ET. Earnings are expected to decrease 15.7% YoY to $1.02 per share, and revenues are expected to decrease 8.2% YoY to $878.2 mln. Gross margin is expected to drop 302 bps from Q1 but increase 76 bps from 3Q09 to 32.59%. In the press release for last quarter's earnings the company raised FY10 EPS guidance to range of $3.85-4.00…
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Posted by ken flagg on August 31, 2010 at 4:37pm
The Chicago Purchasing Managers Index from Kingsbury International, Ltd., softened from 62.3 to 56.7 in August as the general manufacturing slowdown finally came to the Chicago region. The Briefing.com consensus called for the Chicago PMI to fall to 57.0. Despite the deceleration in the Chicago region, there is still nothing in the data that changes our view on the manufacturing sector. It would take another two or three months of solid deteriorat…
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Posted by ken flagg on August 31, 2010 at 4:35pm
Economic Data Summary:
* June Case-Shiller 20-city Index 4.23% vs Briefing.com consensus 3.1%; May was revised to 4.64% from 4.61%.
* August Chicago PMI 56.7 vs Briefing.com consensus 57.0; July was 62.3. Despite the deceleration in the Chicago region, there is still nothing in the data that changes our view on the manufacturing sector. It would take another two or three months of solid deterioration in demand before manufacturing activi…
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Posted by ken flagg on August 31, 2010 at 1:03pm