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Wednesday, February 1, 2017

Today's Finance Headlines -- February 1, 2017

WTI: $53.19.

Gasoline demand: corner turned? We'll see the graph Thursday. Today John Kemp tweets:
US gasoline consumption averaged 9.243 million bopd in November, up 1.44% compared with prior year; equal to previous seasonal record set in 2006.
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ONEOK: Oneok to buy the rest of Oneok Partners it doesn't own --
  • $9.3 billion deal
  • OKE: up almost 3%
  • OKS: up almost 30%
  • implied price for OKS: $54 vs $43 closing price
  • Oneok expects to raise its quarterly dividend by 21% to 74.5 cents/share
MRO: moving sharply higher. Easily beats estimates; attributed to refining. Forecast, 26 cents; actual: 43 cents. 

The Apple, Inc, story continues:
  • #1 camera maker in the world;
  • services growing 18% year-over-year;
  • app store growing 40% year-over-year; and,
  • cash grows to $246 billion 
  • AAPL will hit 52-week high today; still an "Abe Lincoln" short of an all-time high
  • AAPL: pays about 2%
ADP: up 246,000! December payrolls revised downward, 2,000 to 151,000. Forecast: private sector to add 160,000 jobs. Remember the "magic numbers":
The Magic Numbers (change with Trump administration)
First time claims, unemployment benefits: 275,000 (> 250,000: economic stagnation)
New jobs: 150.000 (< 150,000 new jobs: economic stagnation)
Economists estimate the labor market needs to create about 125,000 jobs a month to keep the unemployment rate steady, though estimates vary -- Reuters.
Next big thingUPS is toast. Discussed yesterday. What the heck just happened? -- Barrons. Data points:
  • EPS: forecast, $1.69; actual, $1.63
  • revenue: forecast, $17 billion; actual $16.93 billion
  • guidance: $5.80 too $6.10 for 2017; Street consensus for $6.15
  • shares: dropped more than 6% on a down-day for the market; Amazon had dropped 1.2%
  • comment: the most ubiquitous truck in our neighborhood (other than landscapers, waste management, and black-and-white police department SUVs) is the brown truck
Difficulty finding "guests"? MSNBC "Morning Joe" was on a roll, really, really good ... until .... they brought on the Reverend Al Sharpton. What were they thinking? I immediately switched stations; completely forgot about "Joe" -- when I remembered, I returned only to find NYC mayor De Blasio explaining why NYC is a sanctuary city. Back to CNBC.

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