Category Archive: Finance, No picture
Salesforce Wavers On Lower Guidance
(Video length 00:02:30) CNBC’s Josh Lipton breaks down Salesforce’s second-quarter earnings, which beat Wall Street expectations, but the company lowered guidance for the third quarter.
BEA Revises 2nd Quarter 2018 GDP Growth Upward To 4.23%
In their second estimate of the US GDP for the second quarter of 2018, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +4.23% annual rate, up +0.16% from their previous estimate and up +2.01% from the prior quarter. None of the reported revisions were material. The growth rate for consumer […]
Dick’s Sporting Falls After Reporting Q2 Results, Under Armour Sales Decline
Dick’s Sporting (DKS) is dropping after reporting second-quarter earnings and noting “continued significant declines in Under Armour (UA, UAA) sales”. EARNINGS: On Wednesday, Dick’s Sporting reported Q2 earnings per share of $1.20 on revenue of $2.18B, which compared to analyst estimates of $1.06 and $2.24B, respectively. In addition, the company said adjusted for the calendar […]
Gold Price Reversal Gaining Legitimacy
With the US Dollar in the midst of its worst stretch of the year – having lost ground in nine of the last 10 sessions, today included – Gold prices have been able to post a meaningful rebound from their yearly lows. As discussed last week, the US Dollar is the single most important factor driving […]
Hype Cycle Puts Blockchain In Perspective
Deloitte has been busy feeding the negative blockchain news cycle. It recently published the results of a survey of more than 1,000 “blockchain savvy” managers. The survey found 40% of them were “wary” of blockchain’s efficacy. In the U.S., 44% were skeptical. Two years ago, only 34% expressed skepticism. It gets worse. In the U.S., […]
The Three Largest Cryptocurrencies – Wednesday, August 29
With so much focus on bitcoin lately, we’ve added a new weekly update that tracks the three largest cryptocurrencies by market share: bitcoin, Ether, and Ripple. According to Wikipedia, a cryptocurrency is “a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional […]
Youth Retailers Fall After Peer American Eagle Tumbles
Shares of youth oriented retailers are lower in afternoon trading after peer American Eagle (AEO) reported quarterly earnings and guidance. OUTLOOK DISAPPOINTS: Despite reporting second-quarter results that were higher than consensus estimates, shares of American Eagle are lower after the company projected third-quarter profit of 45c-47c against analyst estimates of 49c. PRICE ACTION: Shares […]
5 ETFs To Buy As Consumer Confidence Surges To 18-Year High
Despite the worries over Trump’s protectionist trade policy, Americans continue to be optimistic as evident from 18-year high consumer confidence in August. The Consumer Confidence Index, by the Conference Board, jumped to 133.4 – the highest level since October 2000 – from the revised 127.9 in July and is much above the expected 126.6. The […]
As Yuan Turns More Volatile Than Euro, Turnover Soars
Guess what? Folks are trading the yuan. Over the last three months, markets have been at pains to discern what the controlling factor is for the Chinese currency’s rapid depreciation. To be sure, everyone can make a list of the contributing factors, it’s just a matter of deciding which one takes precedence. The narrative here is simple. […]
Pre-Tax Corporate Profits Rise 0.2%, After-Tax Corporate Profits Rise 6.7%
The Trump Tax cuts strongly came into play in today’s GDP update which includes corporate profits. The BEA’s Second GDP Estimate for the second quarter shows a slight upward revision in GDP from 4.1% to 4.2%, seasonally-adjusted annualized. In the second estimate, the BEA also releases its first (preliminary) take on corporate profits for the the quarter. […]
