Better-than-expected - the new "bubble maker" phrase !!!
1. The economy sank at a pace of just 1 percent in the second quarter of the year. It was a better-than-expected. 2. Employment costs rise 1.8 pct in past 12 months. It was a better-than-expected. 3. Sony posts loss but says profit in sight. It was a better-than-expected. 4. AutoNation 2Q profit falls 29 pct, revenue falls.It was a better-than-expected. 5. Euro-zone prices fall as unemployment rises. It was a better-than-expected. 6.Chevron Earnings Tumble 71% as Demand Drops. It was a better-than-expected. Chevron's earnings were below expectations ($0.87 vs. $0.95 expected)--upstream was well below last year, and downstream actually LOST money. 7. AIG Still Showing Weakness Even After Rescue. It was a better-than-expected. 8. 11% Retracement Coming for Dow, S&P: Strategist - suck in some more "shorts" 9. Pros Say: Markets to Fall at End of 2nd Half 10. Traders: Profit from Optimism In This Rally. It was a better-than-expected. 11. Mortgage Rates Rise for Second Straight Week. 12. Unemployment Spreads Distress in US Home Loans. 13. Futures drop on GDP; can "preliminary" numbers really be trusted? Good news! The decline in second quarter GDP was better than expected (down 1 percent). It's the fourth drop in a row (the longest since quarterly records began in 1947). 14. Autonation down 2 percent pre-open, reported earnings slightly better than expected, but key sales metrics were disappointing or below analyst expectations, including total sales (down 28.8 percent year over year), new vehicle sales (down 35.3 percent), and especially used vehicle sales (down 27.1 percent, well below most analyst estimates).
15.Las Vegas Sands falls 9 percent pre-open. The casino operator beat estimates, turning in a slight profit ex-items (up $0.01 vs. down $0.01 est.), as reduced costs helped boost results. Revenues were down 5 percent, missing estimates, on demand weakness as occupancy dropped at its Las Vegas casino hotels. The company saw large double-digit declines in RevPar in Las Vegas, falling 25 percent at The Venetian
16. Dow component Walt Disney is down 3 percent pre-open. Although the entertainment firm beat estimates by a couple of pennies, cost cuts were primarily driving the upside surprise. Revenues fell 7 percent, missing estimates on poor DVD sales and lower ad revenues at ESPN and ABC. While theme park attendance was up 3 percent, aggressive discounts causes theme park revenues to fall 9 percent from last year. More disconcerting is that Q4 bookings are down 7 percent from a year ago.