E Happy News Day

Happily, we again have good news. Stock markets are in clover because March retail sales hit 9.8% according to the Dept of Commerce, greatly over the estimate of 6.1%. And the Labor Dept. reported that last week's jobless claims were 576,000—the lowest level since the pandemic began.

Business newspaper article

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There is lots of company-specific news as well, from A to Z.

*Swiss ABB was bought recently because I liked what I saw at the Wallenberg publicly listed holding company Investor A/B of Sweden (as did fellow investment advisor Gen. Joe Shaefer, USAF-Ret). IVSBF owns a chunk of ABB which today issued a preliminary estimate for its Q1. It will be formally presented on April 27. The stock rose 4.15%. Its revenues are set to rise 11% y/y in constant francs to 6.9 bn, whereas the consensus estimate was for a 6.6% rise. Its orderbook is up 6% to francs 7-7.5 bn. Its operating EBITA is up 133% to 13.5%. (I assume depreciation is not in this cash flow measure.) It guided to revenues up 5% or more for the full year, versus an earlier level of “in-line”. It is now at a 13 year high. It makes electrical equipment, industrial robots, and drivers and says it gained from “customer stockpiling”. I bought a month ago at $29.53 and now am ahead over $1000.

IVSBF was up only 2.06% so Joe and I are doing better than the Wallenbergs in this instance at least.

*Another stock we own indirectly, Taiwan Semiconductor Manufacturing, NYSE - TSM, held by the Taiwan Fund, TWN which I also cover, today reported EPS up 28% y/y to 96 cents, beating the consensus by a penny. Its revenues were up 25.35% y/y at $12.919 bn beating the forecast of $12.86 bn. TSM also forecast Q2 sales of $12.9 bn to $13.2 bn. The stock fell 2.8% because Taiwan is under pressure from the Mainland, after opening at $122. It is at $117.49 now. TWF rose fractionally.

*My rant against fiddled accounts at Standard Life Aberdeen was shared by UK stockholders who chopped its share price 3% Weds. SLPFY. Today I got a less Madoffian annual report from its Chair Sir Douglas Flint, but it was too late. SLFPY fell another 2.23% today in London.

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Today's blog is late because I again tried to get help from my corporate bank, Chase, for a credit card acceptance app and it took 1 ½ hours for them to find my decades-old corporate ...

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William K. 2 weeks ago Member's comment

Thank you for the sunshine, Vivian. It was certainly welcome.