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John Boehner unloads on Paul Ryan’s ‘biggest disappointment as speaker’

“I have to believe it’s Paul Ryan’s biggest disappointment as speaker because Paul Ryan used to be the chairman of the budget committee,” Boehner said” writes Bob Bryan for businessinsider.com. During an interview Friday on CNBC, Boehner pointed to the growing federal debt and Ryan’s inability to reform entitlements like Social Security as the “biggest disappointment” of Ryan’s speakership.But the federal budget is nowhere near balanced, and the Congressional Budget Office projected the annual federal deficit will hit $1 trillion by 2020.”I feel from all the budgets that I passed,…

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IG Group voices disappointment with severe CFD leverage restrictions outlined by ESMA

“IG does not believe there will be any financial impact from the implementation of the measures in the current financial year, FY18” reports financefeeds.com. The company believes that clients who generate over half of its current UK and EU revenue will be classified as elective professional.Clients now categorised as professional generated over 30% of the company’s UK and EU revenue in the three month period to 26 March, 2018.In a filing with the London Stock Exchange, IG warned that the leverage restrictions “will unduly restrict consumer choice, and risk pushing retail…

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Lulu draws downgrade from Citi: There’s ‘less room for disappointment’

“Lululemon expectations have improved so much that the upside opportunity has evaporated for investors, according to Citigroup” writes Xaume Olleros for cnbc.com. “We believe expectations are now elevated for a strong fourth quarter and continued momentum into fiscal year 2018, creating less room for disappointment” Lejuez wrote in a note to clients Tuesday.”Although Lululemon is one of the more attractive square footage growth stories in softlines retail, we believe expectations are high and the risk reward is balanced.”. Despite the call, the stock closed 1.4 percent higher on Tuesday, to…

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Disappointment over Oracle results triggers downgrade, price cuts

“MacMillan said they are trimming cloud estimates again, following cuts they made two weeks ago” writes Markets Reporter for marketwatch.com. In a note, Monika Garg and a team of analysts said they are lowering their cloud estimates for fiscal years 2018, 2019 and 2020.With that, they cut Oracle to sector perform from outperform and lowered their price target to $51 a share from $53.That selling extended from late Thursday when the company reported that second-quarter growth in the cloud didn’t hit Wall Street targets, nor did its third-quarter outlook.Analysts were…

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Wages called disappointment in otherwise strong November jobs report

“Here are some early comments on the November jobs report, which showed 228,000 jobs added in the month, and the jobless rate staying at 4.1%” writes Fiscal Policy Reporter for marketwatch.com. See: U.S. gains 228,000 new jobs in November in another strong show of hiring. • Ian Shepherdson of Pantheon Macroeconomics summed up the report by saying: “In one line: Solid labor demand; wages disappointing, again.” • Curt Long, chief economist of the National Association of Federally Insured Credit Unions, offered a similar comment. “This was a solid report, albeit…

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Expedia heads for worst day in four years after earnings disappointment

“EXPE, -17.12% shares plunged as much as 20% in Friday trading after the online-travel company posted disappointing quarterly results, trimming billions off of the company’s market capitalization” writes Jeremy C for marketwatch.com. The stock fell as low as $118 and were headed for the biggest one-day percentage drop in more than four years.The drop, which came after at least 18 analysts dropped their price target on the stock Friday morning, cost Expedia almost $4 billion in market value at its nadir in morning trading. Expedia stood out from other tech…

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Why the Northern Lights were something of a disappointment

“Why the Northern Lights were something of a disappointment in New England The hype was huge, but the northern lights were disappointing for many New Englanders who stayed up with hopes of getting a glimpse” reports thebostonchannel.com. This time, however, the geomagnetic storm was downgraded to level 1 and the peak area of visibility for the northern lights was over Canada.Unfortunately, that moderate storm was detected while the sun was still up over North America. Source: thebostonchannel.com Share This:

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Jobs growth disappointment won’t stop June hike — but may cap future increases

“Here are some comments on the May jobs report, showing 138,000 jobs created during the month and the unemployment rate falling to 4.3% from 4.4%” writes Fiscal Policy Reporter for marketwatch.com. Economists polled by MarketWatch were expecting a gain of 185,000 new jobs.But he added: “Labor market tightness still appears to be pushing up pay, but the Fed really needs to see average hourly earnings growth push above 3% if they are to hike more aggressively. Source: marketwatch.com Share This:

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$440 BILLION FUND: The stock market is set up for disappointment

“But regardless of the timing of any fiscal policy initiatives, without the repeal and replacement of Obamacare the scope for fiscal reform will likely be limited” writes Erik Weisman for businessinsider.com.au. For instance, he could pursue modest corporate and personal tax cuts instead of large-scale, comprehensive tax reform.Indeed, Treasury secretary Steven Mnuchin recently admitted that it is unlikely tax reform legislation will be enacted by August, as he’d promised earlier.Assuming the president eventually admits defeat on the health care overhaul, which way will he turn legislatively?. The more protracted the…

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