BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[February U.S. durable goods orders fall as machinery orders plunge]]>http://www.bloggingstocks.com/2008/03/26/february-u-s-durable-goods-orders-fall-as-machinery-orders-plun/http://www.bloggingstocks.com/2008/03/26/february-u-s-durable-goods-orders-fall-as-machinery-orders-plun/http://www.bloggingstocks.com/2008/03/26/february-u-s-durable-goods-orders-fall-as-machinery-orders-plun/#commentsFiled under: , ,

U.S. durable goods orders fell 1.7% in February 2008, as demand for machinery dropped substantially, the U.S. Commerce Department announced Wednesday.

Economists surveyed by Bloomberg News had expected February 2008 durable goods orders to rise 0.7%. Durable goods orders decreased a revised 4.7% in January 2008. Excluding transportation, durable goods orders fell 2.6% in February 2008, the biggest decline since January 2007.

Machinery orders weigh

In February 2008, capital goods orders fell 2.6% following a 1.8% drop in January 2008, as businesses cut back purchases that enhance productivity -- historically a sign that they believe sluggish economic times are ahead. Equally telling, machinery orders plunged 13.3% in February 2008. Motor vehicle orders dropped 2.7%. Aircraft orders were a bright spot, rising 5.4%.

Shipments dropped 2.1%, the most since January 2007. Orders excluding defense equipment declined 1.6% and bookings for military gear plummeted 10%.

More bad news for U.S. economy

Economist David H. Wang told BloggingStocks Wednesday the disappointing February 2008 durable goods statistic is more troubling news for the economy.

"If we're not in a recession right now, I don't know what nation is," Wang said. "Demand is weakening and American corporations are putting off capital goods purchases on what they're seeing in the home economy, which is softer demand." Wang added that U.S. multinational corporations will continue to benefit from decent export sales, particularly to emerging markets, but domestic market-oriented companies will show "clear effects of the U.S. slowdown" in their quarterly results this year.

February U.S. durable goods orders fall as machinery orders plunge originally appeared on BloggingStocks on Wed, 26 Mar 2008 09:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aircraftautoscapital goodsdurable goods ordersemerging marketsexportsGDPinthenewsmachineryU.S. Commerce DepartmentU.S. economyWed, 26 Mar 2008 09:20:00 EST<![CDATA[Analyst initiations 6-06-07: AW, RSG and WMI]]>http://www.bloggingstocks.com/2007/06/06/analyst-initiations-6-06-07-aw-rsg-and-wmi/http://www.bloggingstocks.com/2007/06/06/analyst-initiations-6-06-07-aw-rsg-and-wmi/http://www.bloggingstocks.com/2007/06/06/analyst-initiations-6-06-07-aw-rsg-and-wmi/#commentsFiled under: , , , , ,

MOST NOTEWORTHY: The environmental services sector, the machinery and capital goods sector and several bank holding companies were today's noteworthy initiations:
OTHER INITIATIONS:
  • Golfsmith International Holdings Inc (NASDAQ: GOLF) was initiated at Wedbush with a Buy rating and $8.75 target, as the firm believes the company is an attractive growth story and buyout candidate.
  • Pharmasset Inc (NASDAQ: VRUS) was initiated with a Buy rating and $12 target at Banc of America, as the firm believes Clevudine has the potential to be best in class for the treatment of the hepatitis B virus.
  • Ciena Corporation (NASDAQ: CIEN) was initiated with an Outperform rating and $40 target at Piper Jaffray.

Analyst initiations 6-06-07: AW, RSG and WMI originally appeared on BloggingStocks on Wed, 06 Jun 2007 10:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Allied WasteAlliedWasteAWbank holdingBankHoldingBernsteincapital goodsCapitalGoodsCATCaterpillarCathay GeneralCathay General BancorpCathayGeneralCathayGeneralBancorpCATYCIENCienaCiena CorpCienaCorpClevudineCredit SuisseCreditSuisseDEDeereEastWestEastWest BancorpEastwestBancorpEaton CorpEatonCorpenvironmental servicesEnvironmentalServicesETNEWBCGOLFGolfsmithhepatitisIllinois Tool WorksIllinoisToolWorksIngersoll-RandIRITWmachineryParker-HannifinPFBCPHPharmassetPiper JaffrayPiperJaffrayPreferred BankPreferredBankRepublic ServicesRepublicServicesRSGUCBHUCBH HoldingsUcbhHoldingsVRUSWaste ManagementWasteManagementWedbushWMIWed, 06 Jun 2007 10:35:00 EST