IBM Reports 21st Consecutive Quarter Of Declining Sales, Record Low Effective Tax Rate
Last quarter, IBM almost fooled the market when it “beat” but only thanks to using the lowest (until then) effective non-GAAP tax rate in recent history (excluding one charge-filled quarter when the rate was negative and thus N/M). Fast forward one quarter when IBM has done it again: in the three months ended June 30, IBM reported GAAP EPS […]
Will More Hawkish Central Bank Policy Be The Reason For A Major Market And Economy Pull Crash?
With the ECB meeting this week, the Bank Of Canada raising rates last week, and the Fed continuing to talk about unwinding its balance sheet the markets have only taken notice on the long end of yields. Founder of Providence Financial, Anthony Succaro shares his thoughts on the changing narrative. We address the question of […]
Government Pushes Hiring Up In June
Government Helped June Labor Report The private sector drives jobs growth in America, so most economists view public sector growth as bad because it’s unsustainable. The worst case would be a growing public sector and a shrinking private sector since the public sector needs private sector money to survive. As you can see in the […]
Earnings Kicking In
“We may encounter many defeats but we must not be defeated.” – Maya Angelou And just like the Nasdaq closed at new highs on the back of NFLX earnings. We’ve got more heavy hitters on deck so we should see more strength over the next few weeks if all continues as it has. Buying dips […]
Where Did The Bears Go
Bears, man! WHERE DID YOU GO!? Actually had the S&P 500 down about about 8-9 points lower at one point today, but that ended with a sharp buying spree that took price back up to just below breakeven. There’s no one out there to really push stocks substantially higher, but count on the bulls to rally […]
International Business Machines Corp. 2Q 2017 Earnings: Sales Miss Est.
The IBM 2Q 2017 earnings report was released after closing bell tonight, and the company posted non-GAAP earnings of $2.97 per share on $19.3 billion in sales, compared to the consensus estimates of $2.75 per share in earnings on $19.45 billion in revenue. In the second quarter of last year, International Business Machines reported earnings of $2.95 […]
Ecolab: A High Quality Dividend Aristocrat Held By Bill Gates
Ecolab (ECL) is arguably one of the most reliable businesses that money can buy, which is perhaps why the company is a large holding in Bill Gates’ dividend portfolio here. Although Ecolab’s dividend yield is low (1.1%), the company’s long-term growth outlook is excellent and supported by its impressive moat (90% recurring revenue in the form […]
When You Stop Reading After The Second Sentence
On June 27, ECB President Mario Draghi opened that central bank’s international conference in Sintra, Portugal. Most media never made it past the first two sentences of his prepared remarks. For them, the verdict was already delivered in those few lines. They declared that Draghi declared monetary policy was working and the world was on its way […]
Six Flags Drops As CEO ‘Retires’ After Under Two Years In Role
Shares of Six Flags Entertainment (SIX) dropped in afternoon trading after the company announced the retirement of its chief executive officer after just 17 months in the role. Following the news, an analyst said the news that the company’s current chairman and former CEO is returning to the CEO role is “a positive.” CEO DEPARTURE: […]
It’s Complicated
Things changed a lot in the past two weeks. The US Fed’s promises to keep tightening financial conditions look a lot shakier than they did at the start of the month, thanks to a series of weak economic readings in the US. I still think we need to be wary of central bankers but with […]
