The term “bellwether” is derived from Middle English and the practice of placing a bell on a castrated ram (wether) as he led his flock from place to place. That way, no matter the weather or topography, a shepherd would have a good idea where the flock was located and where they were going by listening for the sound of [...]
Earnings season is in full bloom and markets care little about the details as long headlines continue to provide optimism. That’s a pretty low bar since “beating” estimates is a rigged game. However, revenues are much more difficult to tailor by accounting conventions, so they offer a more reliable (not perfect) window into the fundamental circumstances of each company. We [...]
General Electric Revenue: $35 billion, -0.5% Y/Y Net Income: $3.6 billion, +13% Y/Y EPS (GAAP): $0.35/share, +17% Y/Y Organic Revenue -6% Europe revenue -17% Service revenue in Europe -22% Sales in Core Industrial Equipment & Services -6% (-11% profit) Sales in Power Generation and Water Treatment -26%, (-39% profit) GE Capital Revenue (ex NBC sale) -6% (+9% profit) SG&A expenses [...]
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