Friday, November 15, 2013

Disappointing Oct. '13 Industrial Production Numbers

Sept. '13 industrial index was revised up, turning the change in Oct. to negative from no change.  The index was at 100.00, versus our 100.25 estimate and the Street's 100.14.  Capacity utilization was also a miss, coming in at 78.1%, lower than the 78.3% consensus and our 79.6% estimate.

Additional detail regarding the indexes is provided here:

The market (S&P 500) closed only a couple of points away from the amazing 1,800 level.  It is getting bubblier and bubblier, in our opinion.  FB was pretty much flat; TWTR closed down 1.6%; IACI lost nearly 1.0%; BCOR hit its 52-week high of $30.12 and closed at $29.82, up 1.88%; and AVID also hit another 52-week high, $8.54, closing at $8.52, up 1.91%.

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