Morning Call For Tuesday, July 18
OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU17 -0.04%) this morning are down -0.03% after the U.S. Republican health care reform plan failed to secure enough votes to pass in the Senate, which reduces the prospects that the Trump administration will be able to pass any of its economic agenda. Also, weakness in European stocks is undercutting U.S. […]
USD Sell-off Extends – How Far Will It Go?
Republicans are likely to settle for repealing Obamacare but without any replacement. The imminent failure of Trumpcare comes on fertile ground: from another political issue related to Trump Junior, through weak US data and the more-cautious central bank. The move that began in the Asian session is extended in the European session. Here are some […]
Goldman FICC Revenue Plunges 40%, Worst Since 2015, Blames “Low Client Activity”
While Goldman’s (GS) overall results reported moments were generally solid, with the bank reporting Q2 revenue of $7.89 billion (exp. $7.52 billion) and net earnings of $1.83 billion, or EPS of $3.95, above the $3.39 expected, compared with $3.72 for Q2 of 2016 and $5.15 in Q1 2017, there was just one number everyone was […]
Johnson & Johnson Reports Mixed Second Quarter, Revenues Shy Of Expectations
(Video length 00:01:14) CNBC’s Meg Tirrell report Johnson & Johnson kicks off health-care earnings with an EPS beat of $1.83 adj on revenues of $18.839 billion.
US Q2 GDP Growth Outlook Has Been Trimmed In Recent Weeks
Estimates for next week’s “advance” report on GDP growth for the second quarter continue to point to a rebound after Q1’s sluggish pace, but the outlook has been revised down in recent weeks. The Wall Street Journal’s latest survey data, for instance, is projecting a 2.7% advance for Q2 (real seasonally adjusted annual rate), based on this […]
WTI Crude Oil And Natural Gas Forecast – Tuesday, July 18
WTI Crude Oil The WTI Crude Oil market rallied at the beginning of the session on Monday, but found the area near the $47 level to be far too resistive. Because of this, we pulled back to the $46 level, and I think that the market will probably go down to the $45 level which […]
BofA Beats Despite 14% Slump In FICC Revenue; Interest Income Unexpectedly Declines
Echoing the trend set by JPM and Wells Fargo last Friday, moments ago Bank of America (BAC) reported revenue and earnings that modestly beat expectations, with Q2 revenue of $22.8bn, above the $21.8bn expected, generating net income of $5.3 billion up 10% Y/Y, and EPS of $0.46, above the $0.43 estimate, and 12% higher than […]
E Winnie And Vanity
Over the weekend I had planned today to comment on the Chinese ban on mention of Winnie the Pooh, and on Weibo. This is because of an unflattering cartoon four years ago which compared the pudgy Chinese leader Xi Jinping with tall, slim Barrack Obama calling them Winnie and Tigger. Then in 2014 a cartoon […]
UnitedHealth Q2 Earnings Beats, Revenues In Line
Have you been eager to see how UnitedHealth Group Inc. (UNH – Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this leading health insurance company’s earnings release this morning. An Earnings Beat UnitedHealth came out with adjusted earnings per share of $2.46, beating the Zacks Consensus Estimate of […]
Fundamentally Speaking: Earnings At Risk
As we get into the midst of the Q2 earnings season, we can take a closer look at the results through the 1st quarter of the year. Despite the exuberance from the media over the “number of companies that beat estimates” during the most recent reported period, 12-month operating earnings per share rose from $106.26 per share in Q4 […]
