Back to top

Analyst Blog

On a data-heavy morning, we have results for the Consumer Price Index (CPI) and the Empire State Index, as well as a couple earnings reports from companies on the S&P 500. As for the results, some are up, some are down, and some are right where they had been earlier.

The headline CPI number was unchanged for July, as it was in June, and the core number -- which removes food and energy costs -- was up 0.1%. These were both a shade down from expectations, as were the year-over-year numbers, which were 1.4% on the headline and 2.1% minus food and energy. Analysts had expected roughly 1.6-1.7% on the headline number.

The Empire State Index, a survey tracking manufacturing in New York State, swung down to negative 5.85 in August, following a positive 7.39 reading in July. This is the first negative reading since last fall and down much more than expected, which points toward softness in New York factories. Keep in mind, however, this survey is prone to volatility month to month, especially relative to national monthly economic indicators.

We expect results from Industrial Production, Capacity Utilization and Homebuilding Indexes later today. Taken all together, we should have a much more complete picture about macro trends as we look ahead to the 3rd and 4th quarters of 2012.

In earnings news, Target ((TGT - Analyst Report) put up some healthy numbers, beating on both revenues and earnings while raising guidance for fiscal 2012. Deere & Co. ((DE - Analyst Report) missed its consensus EPS estimate on weaker international agriculture business, particularly in South America. Cisco Systems ((CSCO - Analyst Report) reports after the bell, which should provide another piece to the puzzle of technology trends.

Finally, Washington DC-based power investment firm The Carlyle Group ((CG - Snapshot Report) has acquired that well-known bank of multimedia products, Getty Images, from Hellman & Friedman for $3.3 billion. That must be a heck of a lot of pictures of movie stars.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
FELCOR LODG… FCH 10.47 +3.46%
OLD DOMINIO… ODFL 63.48 +1.18%
VASCO DATA… VDSI 13.57 +0.67%
AMEDISYS IN… AMED 20.18 +0.10%
LENOVO GROU… LNVGY 27.07 +0.04%