200k aging Republican bikers, a decent percentage likely unemployed. More than 200k “Liberal” boomer democrats, many also unemployed. Another 50-200k millennial anti-Trump protestors. What could go wrong?
'Trump Time' - Let the games begin - Massive political uncertainty – President’s conflict with the CIA – ‘Strong dollar policy’ to end as U.S. has $120 trillion plus debt – Trump inherits Bush and Obama’s humongous debt
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.
So much for any worries about FANGs rolling over. After yesterday's modest AAPL beat which nonetheless resulted in one of the biggest intraday jumps in its stock in history, moments ago Facebook reported results which simply crushed expectations. The street was expecting $6.01 billion in revenue and EPS of $0.82. Instead it got $6.44 billion - 84% of which came from mobile - and EPS of $0.97 cents.
The reason why the stock of Gilead is currently sliding after hours is because while the biotech giant did beat Q2 earnings, it cut its full year guidance by $500 million on the top line while boosting its R&D expense forecast by $300-$400 million.
Just like Microsoft, Intel engaged in yet another egregious non-GAAP fudging exercise when it reported non-GAAP EPS of only $0.27, which however promptly rose to $0.59, beating expectations of $0.54, only thanks to $1.4 billion in restructuring charge addbacks.
Over the past few quarters, starting with Warren Buffett's annual letter, and continuing with various WSJ reports that the SEC would crack down on the practice, there had been speculation that non-GAAP adjustments would be phased out. But not yet... because if it wasn't for non-GAAP addbacks, Microsoft would have missed badly on both the top and the bottom line.
While NFLX moments ago reported Q2 EPS of $0.09 that beat expectations $0.03, the reasons the stock is plunging after hours is because it appears that Netflix growth story is officially over, and not just because the company guided far lower on international net additions, but because as the Company itself admitted, "we are growing, but not as fast as we would like or have been. Disrupting a big market can be bumpy, but the opportunity ahead is as big as ever and we continue to improve every aspect of our business"