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Philip Morris Earnings, Sales Miss Estimates In Q1
Philip Morris International Inc. (PM – Free Report) reported weaker-than-expected first-quarter 2017 results, wherein both earnings and revenues lagged the Zacks Consensus Estimate. Shares were down 3.4% in the pre-market trading. The weak results were primarily due to lower cigarette volume and certain timing factors. Adjusted earnings per share of 98 cents missed the Zacks Consensus Estimate of $1.03 by 4.85% in first-quarter 2017. However, it was flat from the year-ago quarter. While the company benefited from strong pricing, lower cigarette volumes related to low-price brands in specific markets however led to the decline. Notabl... -
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The Blockchain Could Change The Backbone Of The Stock Market
Modern technology enables stock markets to be faster and more complex than ever. But while the speed of order executions are infinitely more impressive across the board, the conceptual backbone behind the stock market itself hasn’t changed much. In fact, the model we use today for settling trades and ensuring proper share ownership is still based on the one initially created in the early 17th century. A DECENTRALIZATION OF EQUITIES? Today’s infographic comes to us from Equibit, and it envisions what a decentralized securities platform could look like. In such a paradigm, the settlement of trades would not occur through centralized transf... -
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The Fiduciary Rule Educates The Public
Our Chief Compliance officer Rafael Perez provides a good overview of the Fiduciary Rule below. In coming months, he’ll be writing a series of articles on legal standards related to brokers and advisers. Our industry has become a thicket of rules and regulations with compliance an increasingly complicated and costly issue for RIA firms. As an attorney and investment adviser, Rafael has a unique perspective on these issues. As for the Fiduciary Rule, I agree with Rafael’s conclusion that the rule, if nothing else, has highlighted the difference between a broker and an investment adviser and the public is better off for the debate having ... -
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Better Than Expected
A few trading days ago, I suggested shorting Diana Shipping. It went great, but I covered way too soon. It simply keeps falling (I’ve marked my “short” point with an arrow). I mentioned this before, but one of my readers got bent out of shape than I dared show a picture of Lady Diana, but, meh, you get a boring line chart this time.... -
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INDU And The 200 Point Move
The INDU is up more than 200 points today, what is the reason? Treasury Secretary Steven Mnuchin said today that the U.S. is closing in on presenting a substantial tax reform. “We’re pretty close to being able to bring forward what’s going to be major tax reform,” Mnuchin said while speaking at the IIF Policy Summit in Washington, DC. I hope for the buyers, that the tone does not change tomorrow.If you are trading the INDU/DIA then know that on Monday, April 17, the INDU closed 184 higher. The next 2 trading days closed lower. The INDU has the 20 DMA @ 20620, 50 DMA @ 20697 Long term selling zone @ 20774-20868 ... -
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You Only Need One Chart
Do you want a “pure” look at how disconnected equities have become from the economic realities of the reflation narrative? Sure you do. And your interest is appreciated by RBC’s Charlie McElligott who has the following chart for you: (BBG, RBC) We don’t really aspire to much in the way of professional standards here at HR so I’ll just be honest: I’m in the middle of something that involves sand, blue skies, and a cigar. Which means I’m writing this from an iPad. Which means I don’t want to try and type out a long explanation. So, here’s a Heisenberg challenge: Google “Trump trades” with “cyclicals” and then draw you... -
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Dover Tops Q1 Earnings & Revenues, Raises ’17 View
Dover Corporation (DOV – Free Report) reported first-quarter 2017 adjusted earnings per share from continuing operations of 70 cents, which increased 25% from 56 cents recorded in the prior-year quarter. Earnings also beat the Zacks Consensus Estimate of 62 cents. Including one-time items, earnings came in at $1.09 per share, up from the prior-year figure of $0.64. Total revenue increased 11.8% year over year to $1.813 billion in the quarter, which came ahead of the Zacks Consensus Estimate of $1.770 billion. The year-over-year increase was driven by acquisition growth of 12% and organic growth of 4%, partly offset by a 3% impact fro... -
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ETFs Are Reducing Market Efficiency
ETFs have attracted plenty of criticism over the past few years, and according to researchers at Stanford University, Emory University and the Interdisciplinary Center of Herzliya in Israel, at least some of these concerns are valid. The researchers published a paper on the topic last month within which they examined whether an increase in ETF ownership is accompanied by a decline in pricing efficiency for the underlying component securities. What they found only confirmed their initial predictions: ETFs are reducing market efficiency. ETFs are reducing market efficiency as assets continue to climb Specifically, the study finds that an in... -
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Leading Economic Indicators: More Soft Data Silliness
The index of leading economic indicators rose by 0.4% beating the Econoday Consensus estimate of 0.2%. “Gains were broad-based in the month led by the ISM new orders index and including, as always, the interest rate spread where short-term rates are unusually low. The LEI has been very solid and continues to point ahead to rising economic strength.” Useful Chart Showing Significance of LEI Leading Economic Indicators Rise Again The Conference Board press Release says the LEI Index Points to Continued Economic Growth Through 2017. “The March increase and upward trend in the U.S. LEI point to continued economic growth in 2017, with pe... -
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Hot Options Report For Midday – Thursday, April 20
Most Active Stock Options For Midday April 20, 2017 ...
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