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Archive for October, 2019

Apple beats on earnings per share and raises holiday quarter forecast

After the close today Apple reported fiscal fourth quarter revenue of $64 billion. That was up from $62.9 billion in the fourth quarter of fiscal 2018 and above the $63 billion consensus forecast from Wall Street analysts. Net income dropped to $13.7 billion from $14.1 billion. Earnings per share, however, rose to $3.05 from $2.91 […]

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Sorry for the delay on my Special Report Higher income in a yield desert–in your email tomorrow

What turned out to be a big news day--GDP and a Fed interest rate cut (and then a pause) and Apple earnings--got in the way of posting my newest special report by the 5 p.m. New York deadline for it to arrive in your email box. The report will be posted tomorrow and in time […]

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The Fed interest rate pause that …

Distresses? Refreshes? Isn't important? Today, as expected the Federal Reserve cut the benchmark interest rate for the third time this year. The Fed lowers its benchmark rate 25 basis points to a range of 1.5% to 1.75%. At the same time the Fed signaled that it would pause after this cut, the third reduction in […]

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Where and when will President Trump and President Xi meet to sign a Part 1 Trade Deal?

Continued political protests against the government of President Sebastian Pinera have led to the cancellation of the Asia-Pacific Economic Cooperation summit that was to have taken place in Santiago, Chile, in November. 20 people have been killed in the protests and more than 7,000 arrested. (The protests are driven by rising inequality in Chile where […]

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On GDP growth there’s good news and bad news and more bad news

The U.S. economy grew at a 1.9% annualized rate in the third quarter, the Commerce Department reported this morning. The good news: The 1.9% growth in GDP was above the 1.6% rate forecast by economists surveyed by Bloomberg. The bad news: That 1.9% growth rate was down from the 2% annualized growth rate in the […]

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Merck continues to ride cancer drug Keytruda higher

 Shares of Merck (MRK) closed up 3.50% today, October 29, after the company reported better than expected third quarter earnings. On a Non-GAAP basis earnings of $1.51 a share beat the Wall Street consensus by 27 cents a share. Revenue of $12.4 billion fell 6.7% year over year but beat analysts projections of $11.64 billion. […]

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What are the implications for FinTech disruption from Visa’s earnings?

It's not exactly a ringing endorsement but it was enough to send share prices higher in after-hours trading by 1.1% on Thursday and by 0.8% in regular trading on Friday. Visa (V) earnings for the fiscal fourth quarter were better than expected. The company reported non-GAAP earnings of $1.47 a share, four cents a share […]

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Oil earnings expected to disappoint starting with BP tomorrow and then continuing with ExxonMobil and Chevron on Friday

The oil supermajors--ExxonMobil (XOM), Chevron (CVX),Royal Dutch Shell (RDS), Total (TOT) and BP (BP)--are expected to show a 42% year over year average plummet in third quarter earnings when they report earnings this week. That's an even bigger slump than the 18% drop in oil pries during the period. You can expect oil company CEOs […]

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Trick or Trend: Handicapping the next move in the U.S.-China trade war

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. U.S. stocks climbed on Friday on White House statements pointing toward the successful conclusion of […]

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Saturday Night Quarterback says, For the week ahead expect…

... that news on a U.S.-China trade agreement will still be a big mover from stocks, but it will have to share top-of-mind space this week with the Wednesday, October 30, meeting of the Federal Reserve's interest rate setting body, the Open Market Committee. As far as the financial markets are concerned, there's no suspense […]

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