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Insiders Club - 1.20.2015 Bookmark

1.20.2015

Good morning everyone, welcome back from your 3 day weekend. It was glorious taking that extra day "off" from the markets, so that our burnt out brain cells could try and repair themselves. But here we are, and instantly the brain cell burning has resumed. Consider...

JNJ released earnings today. If all you had to go by was the "hype" from CNBC and analysts, you'd swear they were incredible earnings. But as usual, when we take a quick scan of the release, we see a lot of things that the cheerleaders must be blind to. First off, Revenues actually fell Year over year. Is that good? Nah, not really. But wait it gets better. They released "non GAAP" earnings of 1.27.   Guess what they'd have had to admit to if they were following GAAP rules?  89 cents. Yes folks, Pro-forma, non-GAAP added almost 40 cents a share to their report.

I can smell my smoldering brain cells now.....

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