Despite guiding notably higher for the holiday quarter, and beating modestly on EPS, AAPL just reported its third consecutive quarter of declining results and iPhone sales, and its first fiscal year of lower revenue since 2001. The market was not impressed, despite Tim Cook's strong guidance for the holiday quarter when AAPL expects to make as much as $78 billion.
There was some long overdue good news for Netflix longs, when moments ago NFLX reported that in Q3 revenue and EPS of $2.29 billion and $0.12 beat expectatations of $2.28 billion and $0.06 respectively. But the reason why the stock is surging 20% after hours is because the growth appears to be back as a result of a surge in Q3 streaming subscribers, which jumped by370K domestically and 3.2million internationally, far above the 300K and 2.0 million expected.
The most anticlimiatic and predictable outcome to the biggest banking scandal to rock Wall Street in recent years, Wells Fargo;s fraudulent creation of 2 million (or more) fake customer accounts, has just concluded in the only possible way: with CEO and Chairman John Stumpf retiring.
With OPEC/NOPEC headlines the biggest drivers in recent days, the first inventory build in six weeks (according to API) sparked notable weakness in WTI after hours. The 2.7mm build (bigger than the 2mm expectation) is the largest since April. Gasoline stocks also rose (against expectations of a draw) as Cushing (and Distillates) saw a significant drawdown which we suspect are hurricane-affected moves.
Just when we had succeeded at erasing all memories of Rachel Dolezal, the disgraced former NAACP leader who admitted she was "caucasian biologically" but "identified as black", she is thrust back into the national spotlight after being tapped to speak at an MLK celebration
Having rallied a ridiculous 37% in the last 10 days on the back of hype around a potential bid, Twitter shares are in freefall tonight after a Recode report that Google will not make a bid and Apple is an unlikely suitor.
Blowback? Just a few weeks after the EU slapped Apple with a $14 billion bill for "back taxes," the U.S. has responded with $14 billion fine on Deutsche Bank related to the DOJ's outstanding probe into the company's trading of mortgage-backed securities during the financial crisis.
The stock of infamous pharma rollup Valeant peaked almost exactly one year ago. Since then it has been one relentless, first slow then precipitous drop, which wiped out more than 90% of the company's market cap, forced the CEO to resign, led to various Congressional hearings and civil lawsuits after it became a symbol of all that is wrong with corporate America, and brought the company to the verge of a technical default. That was the good news: Now the bad - Valeant is now under criminal investigation.
Lending Club announced that Carrie Dolan resigned from her role as CFO to pursue a new opportunity. "Carrie was integral to Lending Club's maturity and growth over the past six years," said Scott Sanborn, CEO and President of Lending Club. "She approached us early this year about planning a transition, and in May the Board and I asked her to postpone her plans until we could navigate recent events."
Following several repeat, and loud, warnings that sales are slowing down, moments ago Elon Musk did not disappoint and reported results that missed substantially on both the top and the bottom line, with non-GAAP EPS of (1.02) nearly twice as bad as what consensus expected, while reporting nearly half a billion in organic cash burn, while warning that "we have reached our funding limit with a banking partner"
Amazon has done it again. Moments ago Jeff Bezos' company reported Q2 earnings that blew away expectations, when it printed revenues of $30.4 billion, well above the expected $29.6 billion, up 31% Y/Y, and generating EPS of $1.78 more than 50% higher than the $1.12 expected.