For example, yesterday Illinois Tool Works' management repeatedly stated that conditions were " firm" and "stable" in most end markets, but were "not accelerating."
True, not a lot are claiming that business is accelerating, but "stable" is better than "cautious" or the dreaded "deterioration."
United Rentals, which specializes in equipment rentals in the construction, energy, utilities and industrial companies, mostly in the United States, did use the word "accelerating" in describing the spring business.
"During the first quarter we saw broad-based, improving demand in many of our core markets, which was most apparent in accelerating volume ... we continue to expect our business to improve both seasonally and cyclically," United said.
The stock is trading down because the company cut guidance due to lower rental rates from the oil and gas business, but surprisingly United described this as "temporary factors."
Other than revenues, several companies raised full year guidance today.
Danaher, which makes tools, testing equipment, and water quality equipment all over the world, beat on the top and bottom line and raised full-year guidance by a nickel. Full-year consensus is now above analyst consensus.
Stanley Black& Decker, which makes tools and security equipment, also beat on the top and bottom line and raised organic growth guidance because the tool business has been strong.