Apple

What Wall Street Thinks Of Apple's Earnings Beat

After beating on revenues and earnings despite a steep drop in both revenues and iPhone orders and projecting a third consecutive quarter of declining profits, Apple is up nearly 8% pre-market as traders clearly liked what Tim Cook did in the quarter. More importantly, Wall Street liked the results too. Here is a summary of what some of the key analysts thought.

Global Stocks, Futures Continue Rise On Apple, Japan Stimulus; Yellen On Deck

The markets were following a rollercoaster night for the Japanese Yen, when after several media headlines Abe was said to have announced a stimulus package that would be more than JPY28 trillion, sending Japanese stocks higher 1.7% while the USDJPY spiked but well off overnight highs, pushing risk assets higher. Europe and US futs were also in the green on optimism from AAPL's earnings, but all eyes will be on today's FOMC announcement.

Apple Surges After Beating Expectations, Despite Forecasting Third Straight Revenue Decline

While the plunge in Twitter share moments ago put those looking forward to AAPL's earnings on edge, Tim Cook delivered, beating on both the top and bottom line, reporting Q3 revenue of $42.4 billion, above the $42.1 billion expected as a result of better than expected iPhone sales, with the company selling 40.4 million units in the quarter, above the 39.9 million expected.

Previewing The Day's Big Event: What To Expect From The Apple's Earnings Report

When it comes to AAPL, the company is truly in a class of its own. And while in the past it helped propel the S&P500 profitability almost singlehandedly (it was responsible for 7% of total S&P earnings in 2015), this has reverse, and now AAPL is set to be the single biggest detractor from S&P growth. Here is what to look for and what Wall Street expects when AAPL reports earnings at 1:30pm Pacific today...

Hillary Clinton: Class President Of A Failed Generation

After all this time, however, Hillary doesn’t get any of it. She thinks war is peace; deficits don’t matter; the baby boom is entitled to the social insurance they didn’t earn; and that the Fed’s serial bubble machine is leading the nation back to prosperity. But like the generation she represents, she has betrayed hergrand ideals over a lifetime of compromise, expediency, self-promotion and complacent acquisition of power, wealth and fame. She doesn’t deserve another stint at the podium - let alone the bully pulpit.

A "Cautious" JPM Warns That Apple "Expectations Are High"

"We remain cautious heading into Apple’s FQ3 results as we believe that iPhone expectations are still high for the second half of CY16. Our revenue estimate for the September QTR (FQ4) is 1.5% below sell-side consensus as we remain concerned about weaker consumer demand driven by macro conditions. We believe this could be exacerbated by consumers delaying upgrades this Fall in favor of a reported large form factor change in 2017."

Frontrunning: July 26

  • Priest killed in French church before police shoot dead hostage-takers (Reuters)
  • On raucous opening night, Democratic stars make a pitch for Clinton (Reuters)
  • Sanders Backs Clinton After Fractious Opening of Convention (BBG)
  • Some in Sanders' army seem determined to march on without him (Reuters)
  • Yen hits two-week high as Japanese stimulus expectations dialled back (Reuters)

USDJPY Plunges On Japan Stimulus Concerns; US Futures Flat With As Fed Begins Meeting

In a turbulent session for FX, the Yen soared as much as 1.4%, the most in three weeks, after Finance Minister Aso says the government will "leave actual policy measures to BOJ", sending the Nikkei lower by 1.4%. European stocks and U.S. equity index futures are little changed despite the slide in the key carry pair as the Fed starts its two day meeting.

The Blind Leading The Clueless

"The fact that solutions never seem to arrive seems to be less relevant than the fact that a new solution is underway. In this manner, the viewer, no matter how badly his life is being affected, continues to sit tight and be hopeful, for, surely, better days are just around the corner. Incredibly, the average viewer seems to be able to consume endless quantities of this propaganda, year after year, and never say to himself, 'Something’s radically wrong here'."

Michael Moore: 5 Reasons Why Trump Will Win

"I am sorry to be the bearer of bad news, but I gave it to you straight last summer when I told you that Donald Trump would be the Republican nominee for president. And now I have even more awful, depressing news for you: Donald J. Trump is going to win in November. This wretched, ignorant, dangerous part-time clown and full time sociopath is going to be our next president. Here's why..."

Key Events And Earnings In The Coming Week

The key economic releases this week include consumer confidence on Tuesday, the durable goods report on Wednesday, and the advance release of 2nd quarter GDP on Friday. The July FOMC statement will be released on Wednesday at 2PM. There are several scheduled speeches from Fed officials this week. 197 S&P 500 companies are due to report (or 38% of the index market cap) with the notable names including Apple, Verizon, Facebook, Coca-Cola, Alphabet, Exxon Mobil and Chevron.

US Futures Unchanged As Europe Stocks Rise; Strong Dollar Pressures Oil

There has been little notable market moves overnight, with the record rally in the S&P500 set to continue and European stocks climbing as German IFO business confidence proved more resilient than economists predicted in the month after Britain voted to leave the European Union, falling less than expected from 108.7 to 108.3, above the 107.5 consensus, with expectations printing at 102.2 above the 101.2 expected. Bonds fell with gold as the dollar gained before central bank meetings in the U.S. and Japan this week.