Expectations were hardly sky high for AAPL heading into a quarter in which most of its suppliers had already announced iPhone sales would be disappointing, and moments ago AAPL validated many of these concerns when while beating on the bottom line, with an EPS of $3.28 compared to expectations of a $3.22 print, it missed not only on the top line, with revenue coming shy of the $76.5 billion expected at $75.9 billion, but across every single product line, most notably iPhones, of which AAPL sold 74.78 million in the quarter, below the 75 million expected.
Denmark has passed new immigration legislation that will allow police to seize cash and valuables from refugees in what lawmakers say is a bid to help pay for asylum seekers' upkeep. While some say the bill is "misunderstood," others call it "morally horrible."
After a day of exuberant hope from rumors of production cuts, WTI crude is plunging back to reality as API reports a stunning 11.4 million barrel inventory build. This is the biggest weekly build since May 1996.
Politicians are all corrupt; those few who do initially join to "help the people" either soon get corrupted, or are mulched out of the system. None are more corrupt than those who are at the very top of American politics; the so-called "survivors." Some politicians made the mistake of admitting their own wrong-doings, and others have "whistleblow"-ed on the corrupt nature of American politics.
"The Fed’s monetary policy of extraordinarily low interest rates helped create the asset bubbles in stock and commodity prices that are now bursting. In retrospect, the Fed’s rate hike last month will likely be viewed as monetary malpractice. None of this is likely to forestall turmoil in credit markets. Investors are wise to be worried..."
Based on 43 large sell-offs in the world's major equity markets, Morgan Stanley gauges how the current market slide compares to bear markets and bull corrections through history. While they have tended to last about 190 business days, with drawdowns around 30%, the current environment is considerably weaker than the typical bear market beginning...
RANsquawk Preview: FOMC Rate Decision 270116 where focus will be on the Fed's language and any commentary on how many rate hikes we can expect this yearSubmitted by RANSquawk Video on 01/26/2016 14:32 -0400
- After the first rate hike in almost a decade, attention turns to the statement and whether the FOMC remain optimistic on their rate hike forecast.
- An overwhelming majority expect the Fed to keep the Fed Fund Rate on hold at 0.25-0.50%, with FFR futures not pricing in the next hike until the September meeting.
"While EM government ownership of the European equity market is just 0.5% of market cap, it is up to 25% for individual names. We highlight 23 European companies with EM government ownership of more than 5% of market cap, according to the latest figures available on Bloomberg... we are concerned that further capital outflows from emerging markets could lead to more downside risk."
"It's up to Turkey, the Turkish government, the Turkish leadership, to decide whether they want to be part of any kind of cooperation to fight terrorism. This is not the case so far.”
Of the $12 $22 million in unbooked intraday WTW gains for Oprah's 15% stake, this amounts to about $460,000 860,000 per pound of weight lost. If only the rest of the mere mortals had a comparable incentive to get fit again, the American obesity epidemic would disappear overnight.
$681 Million In Mystery Money Found In Malaysia PM's Bank Account Was "Personal Donation" From SaudisSubmitted by Tyler Durden on 01/26/2016 14:36 -0400
“The four-page statement didn’t address several issues that Malaysians have sought answers to, such as: Who specifically donated the money?; Why was it donated?; And what happened to the money that wasn’t returned?'...
When the high yield print on the 2Y auction flashed at 0.86% (alloted 97.03% at the high) there were loud gasps of surprise at what can only be described as a blistering demand, especially from foreign central banks, and one which stood at odds with the rest of the market tone today, especially when considering that no issues were trading special in repo earlier today, and certainly not the 2Y.