One great thing about my position here as Director of Marketing is my extensive contact list. I say that because I have access to thousands of excellent traders, investors, and economists at my finger tips! So when things around the world catch my attention, I can quickly find someone who can give me the skinny on what’s really going down. One of my contacts is Nicholas Vardy, Editor, The Global Guru, and he’s got a MUCH better pulse on the world aboard then I do. That’s why I asked him to give us his reasons why the markets outside the US are doing so well and WHY!

He told me he’d love to get feedback from the Trader’s Blog readers, so let’s not let him down! You can also visit The Global Guru to get his new report on his favorite global picks.

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Electrical equipment maker Eaton Corp. (ETN) reported third quarter earnings of $1.21 per share, beating its own guidance of 80-90 cents per share and the Zacks Consensus Estimate of 91 cents per share. Better-than-expected earnings in the quarter were primarily a result of substantial reduction in costs.   However, quarterly earnings were down 38% from the year-ago profit of $1.95 per share. The company’s cost-cutting efforts were more than offset by lower sales and a stronger dollar.   Eaton’s revenues fell 26.4% year over year to $3 billion. The revenue decline was a result of 23% decline in core sales and a 3% negative impact of foreign exchange translation.   The company witnessed double digit sales decline across its segments. The truck and the Hydraulic segments posted sales decline of 35% and 34%, respectively. These segments witnessed more than 40% decline in the U.S. markets. Hydraulic markets outside ...

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