After falling by nearly 7% year-over-year in July, the third worst drop since 2009, wholesale sales expanded by nearly 7% in August, the highest gain in almost two years. As with factory orders, however, there are seasonal effects to consider given these are unadjusted comparisons. Blended together, cumulatively wholesale sales for both July and August were down about 1%. Seasonally-adjusted, wholesale sales were up in August just slightly more than they were down in July. Year-over-year adjusted, sales were flat.
Wholesale inventory actually declined year-over-year (NSA) in August. That was the first negative annual change since June 2010. As the sales decline has moderated this year, the drag of inventory has as well. Clearly the supply chain is adjusting to the new environment of this phase of the “rising dollar.” Despite more outward caution about inventory, and thus economy, overall levels still remain seriously elevated.
Click to enlarge
Click to enlarge
top stocks invest now: NCI, Inc.(NCIT)
- [By Elizabeth Balboa]
Information technology company NCI Inc (NASDAQ: NCIT) reported its $283 million sale to H.I.G. Capital Management for $20 per share in cash.
9. Allied World Assurance
The insurance firms of Allied World Assurance Company Hldgs Ltd (NYSE: AWH) and Fairfax Financial extended the offering period for purchase of outstanding Allied World shares from June 30 to July 5.
top stocks invest now: Telephone and Data Systems, Inc.(TDS)
- [By Monica Gerson]
Telephone & Data Systems, Inc. (NYSE: TDS) is projected to report its quarterly earnings at $0.10 per share on revenue of $1.26 billion.
PharMerica Corporation (NYSE: PMC) is estimated to report its quarterly earnings at $0.43 per share on revenue of $509.45 million.
top stocks invest now: Intellipharmaceutics International Inc.(IPCI)
- [By Lisa Levin]
IntelliPharmaCeutics Intl Inc (USA) (NASDAQ: IPCI) shares dropped 45 percent to $1.38 as the company disclosed that a FDA panel voted against approving the company’s NDA for Rexista™ abuse-deterrent oxycodone hydrochloride extended release tablets.
top stocks invest now: Tree.com Inc.(TREE)
- [By WWW.THESTREET.COM]
Coming up on this episode of Mad Money: Cramer interviews United Technologies (UTX) CEO Greg Hayes; and Doug Lebda, CEO of LendingTree (TREE) . Plus, don’t miss the Lightning Round. Which stocks is Cramer bullish on?
- [By Lisa Levin]
Shares of Lendingtree Inc (NASDAQ: TREE) got a boost, shooting up 16 percent to $212.90. LendingTree reported Q2 adjusted earnings of $0.90 per share on sales of $152.8 million. The company also raised its FY17 outlook.
- [By Douglas A. McIntyre]
Many of the sponsors of Bill O’Reilly’s Fox show, “The O’Reilly Factor,” have cancelled ads in the wake of a sexual harassment scandal. However, two mainstream advertisers continue to support O’Reilly online via ads on his Bill O’Reilly website. Based on observations over the past 24 hours, these include LendingTree Inc. (NASDAQ: TREE) and the Hefty division of Reynolds Consumer Products.
top stocks invest now: QCR Holdings Inc.(QCRH)
- [By Keith Fitz-Gerald]
My favorite at the moment is QCR Holdings Inc. (NasdaqGM:QCRH).
Founded in 1993 and headquartered in Moline, IL, the bank has a strong regional lending base in Illinois and Iowa that should grow in line with the broader national economy. I particularly like the fact that the bank considers itself relationship-driven at a time when trust is in short supply.
top stocks invest now: region(DGLD)
- [By Jim Robertson]
The VelocityShares 3x Inverse Gold ETN (NASDAQ: DGLD) seeks to provideshort exposure to three times (3x) the daily performance of theS&P GSCI Gold Index. As with UGLD, DGLD would be doing this viafutures contracts.