April 14, 2008 |
Attached/linked please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended April 11, 2008. Welcome to 1st quarter 2008 earnings season and consider yourself warned by Thomson Financial (and virtually everyone else) not to expect much. (And with those low expectations, Alcoa, UPS, and GE did not disappoint.) While airlines struggle to afford the surging gasoline prices, management also decided they probably should start abiding by certain FAA regs. Alan Greenspan became the latest culprit in the ongoing financial crisis “blame game” as many of those same folks who proclaimed him a genius a few years ago are now taking their shots about how he ran the Fed. (Take note, Dr. B. they can turn on you quickly.) Yahoo, Microsoft, Google, News Corp and Time Warner all talked about ways to revolutionize the Internet ad and search games (and who should buy whom in the process). And, through it all, investors seemed to take it all in stride (until Friday that is).
Coming up in the week ahead: Retail Sales (Monday). PPI (Tuesday), CPI (Wednesday), Housing Starts (Wednesday), Industrial Productions (Wednesday), Leading Indicators (Thursday)earnings, FAA, google, greenspan, microsoft, yahoo