Covington Investment Advisors, Inc. Blog

News, Tips, Commentary, etc.

S&P Earnings Scorecard

As of 5/31/16, 97% of S&P 500 companies have reported their earnings for the first quarter of 2016. According to S&P Dow Jones Indices, of those that have reported we have operating earnings per share of $24.09 which is a decline of -6.7% from one year ago. The 12 month operating earnings per share is $98.73 for the index, a decline of -11.45% from one year ago and a decline of -1.71% from the previous quarter. This marks the fourth consecutive quarter of declining year-over-year earnings and the fifth consecutive quarter of year-over-year revenue declines.   Source: S&P Dow Jones Indices    The decline in earnings has largely been contributed to two things: the Dollar strength and the decline in Energy related activities. A stronger US dollar negatively impacts earnings for those companies that generate revenue outside the US. In fact, approximately 48% of revenues for S&P 500 companies are derived...
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The Con Artists are Back: Part II

  The Con Artists Are Back: Part II IT’S NOT PARANOIA IF THEY REALLY ARE OUT TO GET YOU!                   I had the pleasure of attending a Cyber Security Conference recently and the opportunity to hobnob with my fellow wizards.  Not surprisingly, several panel discussion members pointed out that about 33%, one third, of all successful attacks on computer systems from single users to large networks are the result of successful social engineering.  This runs the gamut from fraudulent phone calls looking for data or scaring you into sending prepaid cards somewhere, to phishing (pronounced fishing) email attempts which look for usable personal information or a means to enter your computer in order to do future damage, to masquerading as someone who has authority to move money and demanding funds be moved.  The latter group is causing some concern.                  The original Nigerian Prince scam was the brain child of...
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The Con Artists Are Back

  The Con Artists Are Back.   It is that time of year again taxes are done and we look forward to summer.  Also at this time of year some industrious weasels begin to call people in the hope of convincing them that they are the real IRS and that they need to send money, somewhere, right now, in order to prevent arrest, property seizure and a whole host of other nasty stuff.  In addition to these industrious crooks are the ones claiming to be able to see viruses on your computer and they can fix it but you need to give them your credit card number and access to your computer.  Or that some other bill is due and your water/electricity/cable will be shut off or car repossessed; the list goes on.    DO NOT DO IT!   The tax man and most utilities will send you a letter stating...
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Charles Schwab Investment Outlook Highlights

 Charles Schwab Investment Outlook 2016 Columbus, Ohio: February 11th, 2016 Patrick Wallace and Cindy Jones had the opportunity to attend the annual Charles Schwab Investment Outlook held each year in Columbus, Ohio. This one day conference brings together experts in their respective fields to give their insights on the markets, economy, politics, and investment strategies. This year we were excited to see Chief Political Strategist for Horizon Investments, Greg Valliere and Chief Investment Strategist for Charles Schwab & Co., Inc., Liz Ann Sonders in addition to several new speakers. Below are some highlights from each session:   The 2016 Presidential Race and Beyond Greg Valliere from Horizon Investments The chances of a recession are fairly slim due to a strong labor market and a strong consumer. We are starting to see signs of wages growing coupled with lower oil prices which is beneficial to the consumer. Regarding the Election: Greg does...
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Patrick Wallace Speaks at Indiana University of Pennsylvania-Hot Topics in Finance

Once or twice a year, Patrick Wallace is invited by Dr. Robert Camp, Dean of the Business College at Indiana University of Pennsylvania, to speak to the Seminar in Finance students at IUP as part of their “Hot Topics in Finance” speaker program. This is an initiative of the Finance and Legal Studies Department that brings professionals working in the finance industry into the classroom to speak to students throughout the year. Covington Investment Advisors is proud to support the local community and provide students with an overview of several topics relating to finance so that they can use the tools they learn in their future careers.   Please click on the link below to read an article written in response to Patrick Wallace’s last presentation at IUP early this month. http://www.iup.edu/news-item.aspx?id=215466  
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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148
Email: covington@covingtoninvestment.com