Salient to Investors: Bloomberg and Pavilion Global Markets report 12 stock-sale announcements over the past 3 months for every purchase by insiders at S&P 500 companies, the highest ratio since January 2011. Pavilion said readings above 11 historically preceded average declines of 5.9 percent over the following 6 months. The ratio of sales
READ MORE... →Salient to Investors: Kevin Divney at Beaconcrest Capital Mgmt said more deals create good sentiment because it means CEOs are looking further out, and that’s been the issue the past 4 years. 71 percent of the 399 S&P 500 companies so far reporting have beaten estimates, 67 percent have beaten sales estimates. Read
READ MORE... →Salient to Investors: Michael Holland at Holland & Co. said earnings outperforming estimates is generally supportive for stocks, and the growing global economy bodes well. 75 percent of the 341 S&P 500 companies that have reported Q4 results have beaten estimates. The S&P 500 is at 14.96 times earnings versus the 16.61 average since 1954.
READ MORE... →Salient to Investors: Brad Sorensen at Charles Schwab said the World Bank cuts in growth forecasts are reminders that there’s still work to be done. Sorensen likes earnings so far and the sizable money on the sidelines could boost the market higher. The World Bank cut its global growth forecast for
READ MORE... →Salient to Investors: 71 percent of 452 companies so far reporting exceeded analysts’ estimates, 60 percent missed on revenue. Terry L. Morris at National Penn Investors Trust said the lack of sales growth is a surprise – companies have been beating on earnings because of cost cutting, but that can’t go on forever. Read the full
READ MORE... →Salient to Investors: Wu Kan, a fund manager at Dazhong Insurance said the market focus is returning to the fiscal cliff. The MSCI Emerging Markets Index trades at 11.4 times estimated earnings versus 13.2 times for the MSCI World Index. 57 percent of MSCI Emerging Markets Index companies so far reporting have missed
READ MORE... →Salient to Investors: Arnaud Scarpaci at Agilis Gestion said earnings have been positive, and Europe is recovering – all is functioning in the micro-economy. 54 percent of Stoxx 600 companies so far reporting have exceeded analysts earnings projections. Matthieu Giuliani at Banque Palatine said catastrophe in Greece has been avoided, but the problem is no growth, so have
READ MORE... →Salient to Investors: 70 percent of S&P 500 companies have beaten analysts’ estimates this quarter. Dow fluctuations this year are the smallest in an election year since 2004, and less than the 112-year average when the incumbents won (13 of 17) and lost (6 of 11). Volatility declines indicate less concern that prices will
READ MORE... →Salient to Investors: David Sowerby at Loomis Sayles said earnings continue to surprise on the upside, plus a slight improvement in manufacturing. 71 percent of S&P 500 companies beaten analysts’ quarterly estimates. Darrell Cronk at Wells Fargo Private Bank said the consumer is showing he is willing to jump back in and seek out a job. Thomas
READ MORE... →Salient to Investors: John Haynes at Investec Wealth & Investment said markets are fine where they are and people are underestimating the positive momentum that is building. Earnings have exceeded projections at 72 percent of companies that have released Q3 results, while sales have trailed estimates at 60 percent. Read the full article at
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