March 28, 2013
(This is Mark Vickery substituting for Sheraz Mian this
In this, the last day of the holiday-shortened trading week --
as well as the final trading day of Q1 -- we see a preponderance
of econ data coming out before the bell:
The 3rd and final look at Q4 GDP went up to 0.4% -- a good
sign. Not that 4/10 of 1% can in any way be considered "good
growth" (and 0.6% was the expected number), but consider that the
first read for Q4 was in negative territory, which kicked off
speculation about a double-dip.
That clearly hasn't happened. Looking forward, we see much of
the same: slow growth, at least until the second half of the
year, when gains are expected to spike up. We'll see if that pans
Initial Jobless Claims shot up to 357K for the week (ended
March 23rd), 16K higher than last week's revised 341K. This has
caused the 4-week average to tick up, though that number remains
solidly below 350K. What we wouldn't have done for a read like
that a year or two ago!
March Chicago PMI is also expected today. Otherwise, we're
looking at a few earnings reports this morning, the
BlackBerry reported good earnings per share, especially
considering we had expected a loss and a year ago the company was
wallowing in significant EPS losses. However, revenues were down
year over year. BlackBerry also lost 3 million subscribers, but
CEO Thorsten Heins was quick to point out that more than half of
new Z10 customers are coming from platforms outside BlackBerry.
With such a recent launch, it's too early to tell here. Shares
are down modestly in the pre-market.
) posted mixed results before the bell, too: a record annual
gross margin rate and record free cash flow was offset by
negative year-over-year revenues and comps.
) profits jumped in its quarterly report, but the fertilizer
company fell short of expectations.
May the weather be pleasant for your 3-day weekend!
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MOSAIC CO/THE (MOS): Free Stock Analysis
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