Io amo questo paese!!!

USA GDP Grows By 3.5%
Joshua Zumbrun, 10.29.09, 09:47 AM EDT
(original source: http://www.forbes.com/2009/10/29/gdp-economy-growth-business-washington-gdp.html)

WASHINGTON -- After a long decline, the economy is officially growing again. According to initial estimates, the economy grew by 3.5% in the third quarter of 2009.

Though widely expected to be positive, the figure slightly beat expectations. Economists had projected 3.2% growth. USA GDP has not been positive since the second quarter of 2008. According to the National Bureau of Economic Research, the recession began in December 2007. But with an expanding economy, the recession is all but officially over, and even job growth should soon return!

Gli USA è il vero paese della self-made-company

Come una società nata appena dieci anni fa da due 27enni riesce a far muovere gli immensi mercati del capitalismo d'oltre oceano... inconcepibile in Italia!

[ From http://www.marketwatch.com/story/us-stock-futures-edge-up-after-google-results-2009-10-16 ]
U.S. stock futures edged higher as Google on Thusrday October 15th (after closing) helped maintain the optimism over earnings season. On Friday October 16th S&P 500 futures rose 2.6 points to 1,092.40 and futures on the Dowadded 18 points. Despite a decline in the financial sector after Goldman Sachs and Citigroup results, U.S. stocks closed broadly higher thanks to Google earnings good news reported a 27% profit rise.

Compensi Goldman Sachs: vergogna!

Goldman Sachs Nine-Month Compensation Totals $527,192 a Person

By Christine Harper

Oct. 15 (Bloomberg) -- Goldman Sachs Group Inc. set aside $16.7 billion for compensation and benefits in the first nine months of 2009, up 46 percent from a year earlier and enough to pay each worker $527,192 for the period.

Revenue jumped 49 percent to $35.6 billion this year through September and the New York-based firm set aside 47 percent to cover its largest expense, compensation and benefits, Goldman Sachs said today as it released third-quarter earnings results. The amount set aside this year is just shy of the all- time high $16.9 billion allocated in the first three quarters of 2007.

Chief Executive Officer Lloyd Blankfein, who set a Wall Street pay record in 2007, slashed compensation last year and went without a bonus after the firm reported its first quarterly loss and accepted financial support from the government. As earnings rebounded and the firm repaid $10 billion plus dividends to the government this year, the company resumed allocating billions of dollars for year-end bonuses.

Intel Shares Jump After Forecast Tops Estimates

Intel sales forecast beats estimates by as much as $1 billion, setting the stage for a broader recovery in technology earnings. Intel, the world’s biggest chipmaker, predicted fourth- quarter revenue of as much as $10.5 billion, topping the $9.5 billion average estimate.
The company’s gross margin may reach the highest level this decade.
Intel climbed as much as $1.41 to $21.90 in extended trading yesterday.

Natural Gas UP or DOWN?

These weeks Natural Gas futures contracts are crazier than Oil... Look at this last 12 months chart !

Today (13 oct 2009) the NG futures contracts quote 4,564$ (-6.55%) at 12:22PM NYC (6:23PM Rome)

Earnings week

We have earnings this week coming from 6 DOW + 1 EX-DOW components:

• Johnson & Johnson (Tuesday before the bell)
  
• Intel Corporation (Tuesday after the close)
• JPMorgan Chase & Co. (Wednesday before the bell)
  
• International Business Machines (Thursday)
  
• Citigroup Inc. (Thursday) (it's no longer a DOW component, but that is still a recent change!)
• Bank of America Corporation (Friday before the bell)
  
• General Electric Co. (Friday)
  

Johnson & Johnson (NYSE: JNJ) is set to report earnings Tuesday morning. Consensus estimates are $1.13 EPS and $15.18 billion in revenues, while Q4 consensus is $0.98 EPS on $15.51 billion in revenues. Since the end of June this is up almost 9% and since the March 9 close this is up 34%.

Intel Corporation (NASDAQ: INTC) reports Tuesday after the close and is the first of the tech giants to report. Estimates are $0.27 EPS and $9.02 billion in revenues; next quarter estimates are $0.34 EPS on $9.5 billion in revenues. Since the end of June this is up 22.5% and since the March 7 close this is up 63%.

JPMorgan Chase & Co. (NYSE: JPM) reports earnings on Wednesday morning and is effectively the first of the banking giants on deck. Estimates are $0.49 EPS and $24.8 billion. Since the end of June this is up almost 34% and since the March 9 close this is up 187%.

International Business Machines (NYSE: IBM) is also on deck Thursday and is expected to post $2.38 EPS and $23.37 billion in revenues. Estimates for next quarter are $3.38 EPS and $26.68 billion in revenues. The backlog is paramount and was listed as $132 billion at actual rates on June 30 compared to $126 billion on March 31. Since the end of June this is up 20% and since the March 9 close this is up 51%.

Citigroup Inc. (NYSE: C) is up for earnings on Thursday. It is no longer a DJIA component, but many still consider it a key stock as it is routinely the most active bank stock by far. Estimates are -$0.21 EPS as of today. Since the end of June this is up 55% and since the March 9 close this is up over 300%.

Bank of America Corporation (NYSE: BAC) is reporting on Friday morning. The Ken Lewis departure makes getting too bold a hard task here, but shares have held their own. Estimates are currently -$0.06 EPS on about $27.5 billion in revenues. Since the end of June this is up 32% and since the March 9 close this is up over 300%.

General Electric Co. (NYSE: GE) will be the first company that gives us a broad read across many industries next Friday. We have consensus estimates at $0.20 EPS on about $40 billion in revenues. GE no longer likes to offer detailed guidance, but estimates for Q4 are $0.24 EPS and $42.58 billion in revenues. GE Capital is the likely focus here as investors are going to be looking for continued profit discussions. Since the end of June this is up 39% and since the March 9 close this is up 122%.