EMC earnings show continued strength in technology hardware
Not the home run that Intel (INTC) hit with its earnings but EMC’s (EMC) results back up my theory that technology hardware companies with new products offering more power at lower prices and lower operating costs will show strength in 2010 even if the economy...Goldman decides to play nice and, intentionally, pays the price in revenue
I’m looking at the earnings report from Goldman Sachs (GS) yesterday, July 20, as the second part of the company’s fine for bad behavior. The first part, the official part, was the company’s $550 million settlement with the SEC (Securities & Exchange Commission.)...There's less bad news in IBM's earnings than Wall Street thinks
IBM’s (IBM) second quarter revenue miss yesterday (July 19)—the company reported revenue grow of just 2% instead of the 4% to 5% that Wall Street had expected—undermined the entire technology sector. Last week after Intel (INTC) reported earnings of 51 cents a share...Big orders for Boeing aren't good for airlines, but do indicate continued recovery in financial markets
The Farnborough air show, one of the global aircraft industry’s premier marketing events, has been very, very good to Boeing (BA). Yesterday the company received a $9 billion order for 777 jets from Dubai’s Emirates airline and 40 orders from aircraft leasing company...What one indicator is saying about the global economy
A bottom with no near-term upside catalyst. I’m afraid that fits the global economy, the U.S. stock market, and the Baltic Dry Index. The Baltic Dry Index, a widely followed, but very volatile, indicator of global economic activity, is showing signs that it...Bad news banks: Citigroup and Bank of America results show a slowing U.S. economy
Yesterday’s second quarter earnings report from JPMorgan Chase (JPM) raised concern among investors. The bank reported falling revenue—just 6% it’s true—in its investment banking business. That seemed to confirm concerns that the Wall Street side—investment banking,...Goldman will take the SEC's fine out of petty cash
It’s not even a slap on the wrist. The $550 million fine agreed to by Goldman Sachs (GS) as part of its settlement with the Securities & Exchange Commission (SEC) amounts to roughly a week’s worth of trading revenue for Goldman. Considering that the SEC put the...Inflation or deflation–or maybe something worse
Inflation is a sexy worry. We can photograph it. A photo of a one billion dollar bill next to a pile of apples from Zimbabwe’s recent bout of runaway inflation stuns the imagination. It’s the stuff of national nightmares. The German electorate and German bankers are...Google misses as costs climb on bet that economic recovery will continue
Good news for the economy. Just okay news for Google (GOOG) After the market close on July 15 Google reported second quarter earnings of $6.45 a share. That was worse than the $6.52 Wall Street analysts had projected. The stock dropped 4.2% or $20.62 in after hours...Beijing delivers a profit to big investors in first day of trading for Agricultural Bank of China offering
Shares of Agricultural Bank of China climbed on the Shanghai stock exchange in the first day of trading after the company’s IPO (initial public offering.) The gain was only 0.8% for the day, but that’s impressive enough since the Shanghai Composite Index was down 1.9%...China's growth slows to 10.3% showing Beijing's policies are working
Good news this morning in China’s report of second quarter GDP growth. Although by no means definitive good news. That is still a quarter or two away. China’s economy grew by 10.3% in the second quarter. That was down from a clearly unsustainable 11.9% in the first...Earnings up 289%, stock up just 37 cents–why isn't Wall Street dancing at JPM Chase earnings?
So far, so good for bank stocks. This morning, July 14, JPMorgan Chase (JPM) reported second quarter earnings of $1.09 a share. Not only was that a 289% increase from the second quarter of 2009 but it beat Wall Street projections for a 159% jump in earnings and...Today's retail sales numbers were no where as scary as they seem
There was nothing especially scary in today’s retail sales data. There was certainly nothing very surprising. Yes, I know the headlines played up the 0.5% drop in consumer spending in June. And the fact that this marked the second decline in a row after the 1.1% drop...Does China have a bigger bank lending problem than the official numbers show? Stock markets won't like that
Everybody assumes that official Chinese economic data is cooked. Lower level officials tell their bosses what they think they want to hear. The bosses in turn try to move markets and regulate the economy by their own manipulation of the data. After all it’s a whole...Up yesterday, down today as Shanghai waits for China's GDP news
Live by the rumor; die by the rumor. Maybe they ought to engrave that above the entrance to the Shanghai stock exchange. Yesterday, July 12, the Shanghai Composite index climbed 0.8% to the highest level since June 28 after newspaper reports, essentially unsourced...Apple–buy on the blip?
Well, actually on two blips. The first is the blip—cost to investors about $6.3 billion on a $6.93 a share drop in Apple (AAPL) shares on July 13—created by research from Consumer Reports that argues that the iPhone4 dropped call issues are the result of a hardware...The big news from Alcoa isn't earnings but a forecast of faster global growth
The big news—the news that’s fueling today’s across the board rally in stocks—isn’t the extra two cents that Alcoa (AA) reported in second quarter earnings last night. The company reported earnings of 13 cents a share, two cents a share above Wall Street forecasts....Scorecard, get your scorecard here as the market moves into earnings season
The rally last week—a gain of 5.4% on the Standard & Poor’s 500 stock index—puts the stock market in a very interesting position as earnings season starts. (Alcoa ((AA) traditionally kicks off the week and the aluminum maker reported Monday July 12.) Instead of...So remind me–why are we so worried that China's economy will slow big time?
What exactly don’t investors understand about the phrase “command economy”? I’ve been pondering that question as I watch global financial markets retreat on worries that economic growth in China is going to slow precipitously. I just don’t think that kind of surprise...A disappointing corn forecast and rising demand from China add up for ag stocks
It may seem counter-intuitive but bad news on corn supply is usually good news for the stocks of companies that sell stuff to farmers. The dynamic works like this: lower supply means higher prices for the crops that farmers do harvest and that means they’ll have more...Growth? Slowdown? Watching the data drift while waiting for China's GDP report on Thursday
All eyes will be on China’s second quarter GDP numbers when they’re announced on Thursday. Will China’s economy show something like the 11.9% growth of the first quarter (Danger, Will Robinson), or a big drop to 8% (Worryingly too slow) or come in just right? The...The fuel is there–but where (and when) is the match?
It’s called fuel for the next rally. But it’s better first to think of the money piling up on the sidelines as water building pressure in a pipe. In the week that ended on Wednesday July 7 more money flowed into money market funds—and out of other financial assets...In the earnings season that starts Monday, it's guidance for the third quarter (and not second quarter numbers) that counts
Today is the calm before the earnings storm. Earnings season starts on Monday July 12 when Alcoa (AA) reports second quarter earnings. And then we’re off to the races with Intel (INTC) reporting on July 13, Google (GOOG) on July 15 and three big banks, JPMorgan Chase...Today's best guess is that Euro banks will need $55 to $125 billion in new capital after stress test
Every analyst on—and many off (including yours truly)—Wall Street is trying to put numbers to the results of the Euro Zone’s bank stress test. In recent days we’ve moved from opinions on which country’s banks will be hit hardest (See my post of yesterday, July 8,...So when are stocks cheap enough to buy?
Are stocks cheap now? That’s the question that investors inevitably ask after a drop like the one we’ve seen since the Standard & Poor’s 500 Stock Index hit a high at 1217 on April 23. From that high through the close on July 2 the index dropped almost 16%....This stock market bounce has bought us the luxury of uncertainty
So far we’ve got a bounce. It’s appreciated. The profits, if you’ve made any, are real. Enjoy. But so far that’s all it is. Stocks were badly oversold. They’d fallen too far, too fast as how Wall Street puts it. That created expectations that stocks might rally in the...Naming names: now we know which 91 European banks will face the none-too-challenging stress test
More details last night on who and what are in the stress tests now being administered to European banks in an effort to restore confidence in the financial market. First, we now know that 91 banks will be included in the test. And thanks to last night’s release from...Economic growth will be higher than projected, the IMF says, unless, of course, it's not
Janus, the Roman god of beginnings, transitions, and doorways whose two-faced imaged looked both forward and back, would be proud of the IMF (International Monetary Fund) today. The IMF raised its forecast for global growth this year to 4.6% from the previous 4.2%...Watch for a buying opportunity on my watch-list banks if earnings disappoint this quarter
If you’ve been waiting for the three bank stocks I added to Jim’s Watch List on June 25 see my post https://jubakpicks.com/2010/06/25/financial-reform-wont-hit-the-big-banks-anywhere-near-as-hard-as-wall-street-wants-you-to-believe/ )to sell off before putting in a...Jim’s Daily Email Alerts:
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