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Apple Inc. Disappoints On Sales, IPhone Units
Apple Inc. (NASDAQ:AAPL) released the earnings results from its first quarter of fiscal 2016 after closing bell tonight, posting earnings of $3.28 per share and sales of $75.9 million. Analysts had been expecting earnings of $3.23 per share and $76.59 billion in revenue. In last year’s first quarter, the iPhone maker reported earnings of $3.06 per share and $74.6 billion in revenue. Going into tonight’s report, Apple Inc. shares stubbornly refused to stay above $100 as investors remained cautious going into the print. AAPL – iPhone fears confirmed Management had guided for between $75.5 billion and $77.5 billion in revenue. Interna... -
Finance 0
Good Recovery
Monday’s close had all the look of a retest of last week’s spike low. And the Asian session only looked to confirm further weakness as the Chinese market continued its slump. However, bulls kicked off from the open and clawed back most of yesterday’s losses. In the end, markets are nicely placed for tomorrow, having undone the damage of yesterday. The S&P still has a 100 point buffer before it gets to supply issues. The Nasdaq registered an accumulation day. However it’s going to take more than one accumulation day to recover technical weakness. Relative performance has improved, but not enough to swing it to a pos... -
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The Implications Of Federal Reserve Accounting In ‘Missing Money’
Someone emailed me this article published at Yahoo!Finance that purports the Fed’s tightening is going to send stocks soaring, the DJIA mentioned specifically heading toward 25,000. The way in which this thesis was derived is the object of inquiry, starting with the belief that QE4 (QE5 by my reckoning) is forthcoming. This is not due to the Fed realizing its grave economic mistake but because the bond market is supposedly close to implosion. Thus, more QE will be needed to save the treasury market and indirectly send stocks on a 2013-like odyssey. The foundation for this speculation, however, is what calls for clarification: In order for... -
Finance 0
E A Scary Monetary Conundrum Arises From The Great Recession
There is a real and frightening conundrum that has arisen from the Great Recession. It is the IOR Conundrum. What are we to make of payment of interest on excess reserves (IOR), held for the banks by the Fed? In a nutshell, the Fed says a floor must be created under the Fed Funds rate, which is a form of interbank stimulus, and IOR does that, while the Market Monetarists say that the Fed made the recession much worse by paying the IOR. So, which is it? Many don’t realize that the Fed says it gave interest on banks’ reserves in order to put a floor under the Fed Funds Rate. The Fed is worried that banks would loan money between e... -
Finance 0
E The Daily Shot And Data – January 26, 2016
Oil markets continue to drive global risk sentiment as the correlation between crude and equities rises. For all the yapping going on in Davos, those (supposedly) top finance/economics minds do not seem to have a good explanation for this. Source: barchart Source: @Schuldensuehner No worries. The latest Daily Shot survey will get to the bottom of this. Thanks everyone for your suggestions. Crude oil is indeed under pressure again, having given up a big portion of Friday’s rally. WTI is down almost 3% in after-hours trading (back below $30/bbl). And as expected, global equity markets are under pressure again. China’s Shanghai Co... -
Finance 0
AT&T, Inc. Earnings In Line With Estimates, Sales Miss
AT&T Inc. (NYSE:T) released its fourth quarter earnings report after closing bell tonight, posting adjusted earnings of 63 cents per share, which is in line with the consensus estimate and $42.1 billion, a 33% increase which was mostly due to the DIRECTV acquisition and came up short of the consensus of $42.75. The company posted 55 cents per share in earnings and $34.4 billion in revenue in the previous year’s fourth quarter. AT&T Earnings – solid subscriber growth in 2015 Reported earnings were 65 cents per share for the fourth quarter. AT&T added 2.8 million wireless subscribers and 1.6 million branded subscribers. The c... -
Finance 0
Gold Daily And Silver Weekly Charts – Fed Rate Decision Tomorrow, Registered Gold Plunges
Gold and silver were both in rally mode today, continuing the ‘bounce’ off the recent bottom and a desire to move higher. There was intraday commentary in which I suggested that we are seeing a flight to safety, wherein gold bullion tends to lead riskier aspects of the precious metals higher, and moves in conjunction with the dollar pretty much. I also mentioned the potential ‘cup and handle’ bottom which I have alluded to previously, and posted a closeup of what the chart formation would look like if it was activated. You may read that here. When I was looking up the latest reports on activity in the CME licensed war... -
Finance 0
One Load Gone
One heavy load the market faces is the price of oil which, to my surprise, no longer helps people when it falls, perhaps because the US is now a swing producer. Back when I worked for the Senate Foreign Relations Committee, my boss, Sen. Clifford Case (R-NJ) said the only way we could get out of the clutches of OPEC is if we stopped importing oil. Now we really have cut back thanks to shale, alternative fuel, and cars consuming less gasoline. OPEC is reportedly working on a deal to cut oil output between some of its members and non-members like Russia. The mere hint of this, reported by CNBC boosted the price of oil to over $32 per barrel. ... -
Finance 0
AAPL Earnings Beat Despite Missing Sales, IPhone Expectations; US Revenues Decline
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. iPad and Mac sales also came in below expectations, at 16.12mm vs Exp. 17.3mm, and 5.31mm... -
Finance 0
Apple Near Major Support. Is It A Buy Or Sell?
We recently forecasted the price levels where Apple would stop falling. We identified really big support around the $95 area. The chart shows that Apple indeed stopped its fall right below $95. Meantime, just minutes ago, Apple released its quarterly earnings. As summarized by MarketWatch: For the three months ended Dec. 26, Apple said net income rose 1.9% to $18.36 billion from $18.02 billion in the year-ago period. Earnings per share rose more sharply, to $3.28 from $3.06, reflecting Apple’s active share-buyback program. Revenue rose 1.7% to $75.87 billion from $74.6 billion in the same period a year earlier. That was the slowest rate of ...
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