Category Archives: Earnings

BFTP: How Sustainable Is Earnings Growth?

Posted on April 22, 2019 by macromon

BFTP: Blast From The Past We posted the following last May when earnings and the market were all lathered up and on a sugar high induced by the corporate tax cut and weaker dollar in 2017.  Our lack of confidence … Continue reading →

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Investors Look to Earnings Amid Market Confusion

Posted on January 15, 2019 by macromon

Jan.14 — Bloomberg’s Lisa Abramowicz, Henry Peabody, portfolio manager at Eaton Vance Management, and Noah Weisberger, managing director at Sanford Bernstein, discuss market expectations for quarterly earnings. They speak with Bloomberg’s Jonatan Ferro on “Bloomberg Markets: The Open.” – Bloomberg … Continue reading →

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Harbinger? Dropping Like A BlackRock

Posted on October 22, 2018 by macromon

                   Source:   Holger Zschaepitz @Schuldensuehner Wow.   Completely missed the 34 percent flop in Blackrock, the world’s most massive shadow bank, from its $594.52 January high.   Now trading through the key $400 level, with … Continue reading →

Posted in Earnings, Equities, Uncategorized | Tagged , , | 24 Comments

Alphabet Revenue Growth Up 26 Percent

Posted on July 24, 2018 by macromon

Alphabet announced earnings last night with a whopping 25.6 percent quarterly y/y revenue growth (23 percent on a constant currency basis).   See earnings release here.   It is stunning to us that an almost $900 billion market cap company can … Continue reading →

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How Sustainable Is Earnings Growth?

Posted on May 21, 2018 by macromon

Not very. We will leave the calculation for the entire stock market to the stock analysts. Here’s why: Just glancing over WalMart’s latest earnings release from the week, we see two one-off macro factors that helped WalMart’s earnings in Q1, … Continue reading →

Posted in Dollar, Earnings, Uncategorized | Tagged , , | 62 Comments

Employment Data In Charts: Markets All Lathered Up

Posted on May 4, 2018 by macromon

The punk employment data makes us think the economy is running out of labor.   Very similar to the dynamics in the housing market. The markets are lathered up about the annual moderate average hourly earnings growth of 2.6 percent.  The … Continue reading →

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Quality Of Earnings?

Posted on April 23, 2018 by macromon

Rosie is a bear but a credible bear, and not a perma-bear. The financial engineering game ends when the government starts to play. Glushkin Sheff's Dave Rosenberg: nearly 2/3 of US corporate profit growth is due to tax cut and … Continue reading →

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Big Week For Earnings

Posted on April 22, 2018 by macromon
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The Looming Donnybrook Between Cyclical & Structural

Posted on April 1, 2018 by macromon

This next quarter is going to be a major battle between the cyclical bulls and structural bears. Cyclical Bulls The bulls have the strength of current earnings, which may, or may not be priced (probably the later as the market is … Continue reading →

Posted in Earnings, Economics, Equities, Uncategorized | Tagged | 17 Comments

Ambiguity Of The Dow’s Value: -3.3% GAAP v 10.5% non-GAAP 2017 Earnings

Posted on February 26, 2018 by macromon

One more example of the ambiguity of stock value  and why earnings are, or can be, the creature of  a company’s CFO.  This is exactly why we prefer top line metrics, such as sales and revenues.  See here for debate … Continue reading →

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