Please stop with the "lower hurdle" whine. These are estimates for crissskes. By design they are adjusted as we get closer to the end of the quarter to presumably reflect more accuracy. The bottom line is earnings were better than you Wall Street "experts" expected. It's good news. Period.
Please don't feed the troll. Thank you.
I've been in the bidness for around 15 years and this market, since Brexit feels very strong, relative to other times.
It feels like money is flowing in, taking advantage of every little dip. I suspect what is happening is:
1) money being reallocated to the US from Europe, which seems a disaster
2) a constant flow from China
3) I've seen #s in foreign direct investment - it's been rocketing up for the US
4) Probably some people are selling bonds after making huge profits this year
And it seems earning season is going well enough.
To your #1, right after Brexit I pulled out the money I had in Europe. Currently it's sitting in a money market fund waiting for the right opportunity to put it into a U.S. focused fund.
And indeed earnings season is going better than expected. Lots of optimism (except for Chicken Little).
Great guidance from AAPL. Up 6.5% after hours. The DGTD contrarian strikes again.
U.S. stock futures advanced Wednesday, as investors cheered Apple Inc.'s earnings and waited for a Federal Reserve statement due in the afternoon.
S&P 500 futures rose by 4.20 points, or 0.2%, to 2,167.50, while Dow Jones Industrial Average futures tacked on 47 points, or 0.2%, to 18,445. Nasdaq-100 futures jumped by 38.25 points, or 0.8%, to 4,702.
Apple shares (AAPL) gained 7% in premarket action after the iPhone maker late Tuesday posted quarterly profit that dropped from a year ago, but beat expectations. Revenue at the world's largest company by market value also fell, yet topped Wall Street's forecasts.
On the Fed front, the U.S. central bank is expected to stand pat on interest rates as it releases a policy statement at 2 p.m. Eastern Time. Traders want to see if Fed chief Janet Yellen and her colleagues offer any signals on the possibility of a September rate hike.
The key is whether the Fed's statement will "build expectations of a hike in the second half of the year or deliver a more dovish message highlighting the heightened risks, including Brexit," said Craig Erlam, senior market analyst at Oanda, in a note.
"As it stands, the markets have once again come around to the idea that there will be another hike this year, pricing in a 51% chance of it happening by December," he added.
I don't follow this thread anymore since the troll took over, but I wanted to come in and say that Maserati was right on about watching Deutsche Bank and other euro banks.
I wish this thread was still in its heyday of maybe a year ago, now it's not worth reading, so I don't.
molto,
As perhaps you know the Euro Zone will report results of stress tests on the banking system July 29th. First off their stress test are less rigorous than in the U.S. Apparently there is some concern how the Italian and Spanish banks will fare. Also, Credit Suisse (CS) has some of the same derivative issues as Deutsche Bank (DB).
Igy
Stick it in your ear, troll. You've ruined this once great thread.
U.S. stock futures little changed Thursday after erasing earlier gains following disappointing earnings reports from heavyweights Ford and ConocoPhillips.
After trading with a gain of 64 points earlier, the Dow Jones Industrial Average futures were steady at 18,387, while S&P 500 futures inched down less than a point to 2,160.75. Nasdaq-100 futures were mostly unchanged at 4,707.50.
Stocks closed lower on Wednesday after the Federal Reserve hinted at a September rate increase in its policy statement , saying near-term risks to the economic outlook have diminished. The S&P 500 index pulled back 2.6 points to 2,166.58, as losses for consumer staple such as Coca-Cola (KO) utilities weighed on the index.
But on Thursday, market observers were rethinking the Fed language from that meeting.
"The FOMC minutes do appear to have struck a dovish tone with investors despite offering a more upbeat assessment of the economy and highlighting the diminishing near-term risks. This could be helping to lift sentiment ahead of the open today," said Craig Erlam, senior market analyst with Oanda, in emailed comments.
Economic data on the calendar includes weekly jobless claims and June advance trade in goods at 8:30 a.m. Eastern Time, plus rental vacancy rates for the second quarter at 10 a.m. Eastern.
Shares of ConocoPhilips (COP) dropped 2.7% premarket after the oil company reported a bigger loss than expected.
Ford Motor Co.(F) slumped 7.4% following an earnings miss , while Dow Chemicals Co.(DOW) inched up 0.1% after earnings and revenue came in better than forecast by Wall Street.
Colgate-Palmolive Co.(CL) rose 0.9% after the consumer products firm said profit rose in the second quarter.
Harley-Davidson Inc.(HOG) also beat on both profit and revenue, but shares didn't move premarket.
Hershey(HSY) swung to a profit in the second quarter.
MasterCard Inc.(MA) and HCA Holdings Inc.(HCA) are also on tap.
FANG stocks continue to impress. Facebook rose 5.5% ahead of the bell, adding to Wednesday's late-session gains after soundly beating on earnings and revenue. But the social-media network's Chief Financial Officer Dave Wehner said the company expects lower ad revenue growth in the next two quarters and just modest growth in its ad load.
Same to you faker....
Oh, the irony!
Shares of Amazon.com Inc. fell 1% in after-hours trade Thursday following the company's second-quarter earnings report. The e-commerce and cloud giant reported net income of $857 million, or $1.78 a share, compared with $92 million, or 19 cents, in the year-earlier period. Analysts polled by FactSet were calling for earnings of $1.11. Revenue for the three-month period ended in June was $30.4 billion, up from $28.1 billion last year, and ahead of the consensus estimate of $29.5 billion. Amazon forecast revenue for the current quarter between $31 billion and $33.5 billion, which would mark an increase from $25.3 billion last year. Analysts expect Amazon to report revenue of $31.6 billion this quarter. The company issued a wide range for its operating income for the third quarter, to between $50 million and $650 million, compared with $406 million last year.
Is that a typo?
Say wha? wrote:
Is that a typo?
No typo. They are accurate as reported. Amazon just stood Wall Street on its ear. The local FANG pessimist is chasing his tail trying to change the subject away from yet another miss for him.
Big,
Yes, Amazon's web hosting business is driving it's revenue, and if you feel that justifies paying 280 times for Q2 the equivalent EPS fine. The margin on the balance of its business is quite small, however AMZN is driving plenty of companies out of business. You may wish to temper your enthusiasm so you don't get de-fanged again.
Igy
What does Ford earnings say?
Ghost of Igloi wrote:
Big,
Yes, Amazon's web hosting business is driving it's revenue, and if you feel that justifies paying 280 times for Q2 the equivalent EPS fine. The margin on the balance of its business is quite small, however AMZN is driving plenty of companies out of business. You may wish to temper your enthusiasm so you don't get de-fanged again.
Igy
Only you would think literally destroying WS estimates is a bad thing. I feel sorry for your clients. They have undoubtedly missed some golden opportunities.