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Jun 3: Factory Orders are up 0.7% – Economic Highlights

Zacks Market Commentaries — Wed, 03 Jun 2009 15:28:24 +0000

Factory Orders are up by 0.7% in April to $344.4 billion, were expected to increase by 0.8%, and are up 2 of the past 3 months, after falling by 1.9% in March and increasing by 0.7% in February. Excluding transportation, new factory orders also increased by 0.1%. Over the past 12 months, the volume of new orders had fallen by 23.1%.

The ISM Services Index for May increased to 44 from April's level of 43.7, although less than the expected level of 45. The index is estimated below 50 for the 8th consecutive month, meaning that it is still indicating contraction, but this contraction comes at a diminished rate indicated by the value rising. 6 of the industries in the index reported growth for the month: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Utilities; Retail Trade; Construction; and Accommodation & Food Services. The remaining 11 industries which compile the index reported contraction in May: Other Services; Mining; Educational Services; Management of Companies & Support Services; Wholesale Trade; Finance & Insurance; Public Administration; Agriculture, Forestry, Fishing & Hunting; Transportation & Warehousing; Health Care & Social Assistance; and Information. The complement to this is the ISM Manufacturing Index, which advanced to 42.8, ahead of the consensus estimate of 42.2, on Monday.

Today monthly vehicle sales are set to be announced with projections that May sales will be at 9.4 million, following April reported sales of 9.3 million.

Upcoming Releases
Nonfarm Productivity (06/04 at 8:30 AM EST)
Initial Claims (06/04 at 8:30 AM EST)
Unemployment (06/05 at 8:30 AM EST)

Zacks Investment Research

May 1: ISM Manufacturing Index up to 40.1% – Economic Highlights

Zacks Market Commentaries — Fri, 01 May 2009 15:27:11 +0000

The ISM Manufacturing Index for April stands at 40.1%, more than the 38.6 expected, increasing over the month from 36.9 reported in March. Although below 50 for the 15th consecutive month, showing the manufacturing industry failed to grow, the increase in the value of the index can serve as an indication that the rate of decline is diminishing with prospects of an anticipated recovery. The overall economy, failed to grow for the 7th consecutive month. Miscellaneous Manufacturing showed growth, while the remaining 15 industries constituting the manufacturing sector reported contraction: Printing & Related Support Activities; Primary Metals; Apparel, Leather & Allied Products; Textile Mills; Chemical Products; Furniture & Related Products; Petroleum & Coal Products; Fabricated Metal Products; Transportation Equipment; Food, Beverage & Tobacco Products; Plastics & Rubber Products; Electrical Equipment, Appliances & Components; Paper Products; Machinery; Computer & Electronic Products; and Nonmetallic Mineral Products.

Factory Orders fell by 0.9% in March to $345.3 billion, expected to fall by 0.7%, negating the 0.7% advancement in February which was revised downward from a 1.8% growth. Excluding transportation, new factory orders also decreased by 0.9%. Over the past 12 months, the volume of new orders plummeted by 22.5%.

Today monthly vehicle sales are set to announced, with projections that April sales will be down over 30% to their lowest in almost thirty years. Vehicle sales in March were 6.9 million.

Upcoming Releases
Pending Home Sales (05/04 at 10:00 AM EST)
Construction Spending (05/04 at 10:00 AM EST)
ISM Services Index (05/05 at 10:00 AM EST)
Unemployment Rate (05/08 at 8:30 AM EST)

Zacks Investment Research

Ferro Corporation’s (FOE) Materials Facilitate Performance

QualityStocks — Fri, 29 Aug 2008 15:34:21 +0000

You know when your sales for 2007 are $2.2 billion that you’re doing something right. That’s the case for Cleveland, Ohio based Ferro Corporation who garnered those kinds of numbers last year. Trading on the New York Stock Exchange (NYSE), Ferro is a worldwide supplier of technology-based performance materials for manufacturers. They are part of [...]