After Hours

Little Known Lawsuit Exposes Yet Another Major Cyberheist In 'Secure' Global Payments System

A few months ago, we reported the incredible story of how hackers stole $100 million from Bangladesh Central Bank by way of the New York Federal Reserve. Now, thanks to a little noticed lawsuit, details are emerging that hackers had initially stolen another $12 million from a bank in Ecuador, Banco del Austro, although the bank was able to get back about $2.8 million of the stolen money.

Nordstrom Plummets After Reporting Terrible Earnings, Slashing Guidance

The reason why the stock is getting monkeyhammered after hours is that the company slashed its guidance, and instead of seeing a 0-2% increase in comp sales, JWN now expects -1 to +1% for 2016. Worst of all is that instead of seeing EPS of $3.10-$3.35, Nordstrom slashed earnings guidance, and now expects only $2.50-$2.70 in EPS for the full year.

Fossil Stock Plummets 25% On Abysmal Results As US, Global Consumers Choose To Save Instead Of Spend

This was the latest confirmation that something is very badly broken with not only the US but also international consumer, who as the WaPo "determined" earlier is actively seeking to sabotage the Obama recovery by not spending on such products as Skaggen watches, but instead selfishly is saving away all available funds. Expect even more weakness in the coming quarters, especially among comparable consumer companies, if this unpatriotic saving behavior does not revert back to what made the US consumer class the most beloved across the entire world.

Tesla Jumps After Smaller Than Expected Loss; Warns Cash Burn Is About To Hit Ludicrous Speed

As we previewed yesterday, perhaps more so that the longs it was the company's near record shorts who were expecting today's earnings release to see if their bearish bets on the company will pan out. And while the stock slid all day, losing 4% in regular hours after Jim Chanos announced he was short the car maket, the stock now appears to be jumping in the after hours session having just reported its Q1 results which were as follows.

With Tech Tanking, Can Anything Save The System?

The big questions are: 1) Can an economy grow when its banks, energy companies and tech giants are all losing ground? 2) Can a hyper-leveraged global financial system survive if its main economies can’t grow? The answer to both questions is almost certainly “no.”

Futures Ignore Apple Plunge; Oil Rises Above $45 As Yellen Looms

For those who thought that the world's biggest company losing over $40 billion in market cap in an instant on disappointing Apple earnings, would have been sufficient to put a dent in US equity futures, we have some disappointing news: with just over 7 hours until the FOMC reveals its April statement, futures are practically unchanged, even though the Nasdaq appears set for an early bruising in the aftermath of what is becoming a disturbing quarter for tech companies. Instead of tech leading, however, the upside has once again come from the energy complex where moments ago WTI rose above $45 a barrel for the first time since November after yesterday's unexpected 1.07 million barrel API inventory drawdown.

Wall Street In Pain: 163 Hedge Funds Are Long AAPL Stock

Following the biggest Apple debacle in years, here is the reason why the hedge fund community is about to see even more redemption requests and underperform the market even more: according to the latest GS hedge fund tracker, at least 163 hedge fund are long the name which has just lost over $40 billion in market cap in the after hours. The good news: it used to be over 200 as recently as a year ago.