Intuitive Surgical Inc. (ISRG). The company reported a much higher-than-expected third-quarter profit on increased demand for its da Vinci surgical robots and a rise in procedures using the expensive systems. It posted a net profit of $122 million, or $3.05 per share and revenue for the quarter rose 30 percent to $447 million. July-September net income climbed to $46.3 million, or 41 cents a share, from $41 million, or 35 cents a share a year ago.
ISRG is up 25 to 408 premarket...
Wednesday, October 19, 2011
Intel raises forecast...
Intel Corp. (INTC). The company forecast quarterly revenue above Wall Street's expectations, defying concerns that tablets and a shaky economy are eating into demand for personal computers. Intel said revenue in the current quarter would be $14.7 billion, plus or minus $500 million. Intel said non-GAAP revenue in the third quarter was $14.3 billion.
Here is Intel's long term chart. Note it is at a key resistance level...a break above 24 would be significant:
Here is Intel's long term chart. Note it is at a key resistance level...a break above 24 would be significant:
CSX meets expectations...
CSX Corp. (CSX). The railroad operator reported a higher quarterly profit in line with forecasts, and said volume was driven up by metals for auto-and energy sector products as well as forest products. Third-quarter net profit of $464 million, or 43 cents per share and revenue rose 11 percent to $2.96 billion.
You have to pay attention to what the transports say, as they give you good insight as to where our economic strengths are...
You have to pay attention to what the transports say, as they give you good insight as to where our economic strengths are...
Cree hurt by increasing competition...
Cree Inc. (CREE). The LED maker reported a steep decline in first-quarter profit that missed Wall Street's expectations as stiff competition hurt pricing and kept inventories high and also forecast a tepid second quarter. Profit for the quarter fell by 78 percent to $12.8 million, or 11 cents per share, from $58 million, or 53 cents per share, in the year-ago period.
CREE is down 1.25 to 26.45 premarket.
CREE is down 1.25 to 26.45 premarket.
Apple miss due to customers waiting for newest version...
Apple Inc. (AAPL). The company stunned Wall Street by reporting results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter. Net profit was $6.62 billion, or $7.05 a share. Apparently, customers held off buying iPhones until the October launch of the latest version.
Stocks to watch today...
Several high profile earnings reports are out this morning, including Dow components Travelers (TRV) and and United Technologies (UTX) and Wall Street giant Morgan Stanley (MS).
We'll also get the latest numbers from Abbott Labs (ABT), Bank of New York Mellon (BK), BlackRock (BLK), PNC (PNC), and Freeport-McMoRan (FCX), among others.
American Express (AXP), eBay (EBAY), E*Trade (ETFC), Xilinx (XLNX), Wynn Resorts (WYNN), and Western Digital (WDC) are among the companies releasing quarterly numbers after today's closing bell.
Apple (AAPL) clearly leads our list of stocks to watch after posting its first quarterly earnings miss since 2004. Apple posted fiscal fourth quarter earnings of $7.05/share, 34 cents below estimates, with revenue also falling short.
Intel (INTC) shares jumped after hours, as the company posted record third quarter profits and gave an upbeat outlook for the fourth quarter.
Yahoo (YHOO) saw third quarter earnings fall 26%, but the stock rose after hours as Yahoo beat the Street's lowered expectations.
Also seeing bullish after-hours activity: Intuitive Surgical (ISRG), as its sales of robotic surgical equipment soared.
We'll also watch shares of JetBlue (JBLU), as chief financial officer Ed Barnes resigns.
Also on the watch list today: Dow component DuPont (DD) and Monsanto (MON), as DuPont sues Monsanto for alleged patent infringement regarding a process that helps genetically modified corn seeds germinate.
One stock we can't yet watch - but may be able to soon - is Groupon. Multiple reports say the daily deal company will launch its IPO roadshow next week, with an initial public offering likely to value the company at $11 - $12 billion.
We'll also get the latest numbers from Abbott Labs (ABT), Bank of New York Mellon (BK), BlackRock (BLK), PNC (PNC), and Freeport-McMoRan (FCX), among others.
American Express (AXP), eBay (EBAY), E*Trade (ETFC), Xilinx (XLNX), Wynn Resorts (WYNN), and Western Digital (WDC) are among the companies releasing quarterly numbers after today's closing bell.
Apple (AAPL) clearly leads our list of stocks to watch after posting its first quarterly earnings miss since 2004. Apple posted fiscal fourth quarter earnings of $7.05/share, 34 cents below estimates, with revenue also falling short.
Intel (INTC) shares jumped after hours, as the company posted record third quarter profits and gave an upbeat outlook for the fourth quarter.
Yahoo (YHOO) saw third quarter earnings fall 26%, but the stock rose after hours as Yahoo beat the Street's lowered expectations.
Also seeing bullish after-hours activity: Intuitive Surgical (ISRG), as its sales of robotic surgical equipment soared.
We'll also watch shares of JetBlue (JBLU), as chief financial officer Ed Barnes resigns.
Also on the watch list today: Dow component DuPont (DD) and Monsanto (MON), as DuPont sues Monsanto for alleged patent infringement regarding a process that helps genetically modified corn seeds germinate.
One stock we can't yet watch - but may be able to soon - is Groupon. Multiple reports say the daily deal company will launch its IPO roadshow next week, with an initial public offering likely to value the company at $11 - $12 billion.
Good Morning....
On Tuesday, stocks shook off modest early losses and closed with solid gains. The S&P 500 added 2%, while the Nasdaq rose 1.6%. Volume increased across the board from Monday's level, but remained below average.
The major indexes picked themselves off their session lows about 10 a.m. ET as an index of homebuilder sentiment topped expectations, though it still signaled pessimism.
Stocks added to their gains in the late afternoon on a report by the U.K.'s Guardian newspaper that France and Germany had agreed to boost the euro zone rescue fund.
However, a Dow Jones report after the market's close raised questions about the Guardian's story.
During the regular session, the main indexes tested key technical levels and passed, at least for now.
The S&P 500 briefly fell below 1200, but recovered.
The major indexes picked themselves off their session lows about 10 a.m. ET as an index of homebuilder sentiment topped expectations, though it still signaled pessimism.
Stocks added to their gains in the late afternoon on a report by the U.K.'s Guardian newspaper that France and Germany had agreed to boost the euro zone rescue fund.
However, a Dow Jones report after the market's close raised questions about the Guardian's story.
During the regular session, the main indexes tested key technical levels and passed, at least for now.
The S&P 500 briefly fell below 1200, but recovered.
Tuesday, October 18, 2011
Apple misses on earnings and revenues....
Apple reported third-quarter earnings of $7.05 a share, on revenue of $28.3 billion.
Analysts, on average, expected Apple to earn $7.22 a share on revenue of $29.5 billion.
Apple has not missed earnings forecasts since the second quarter of 2002, according to FactSet data.
The stock is down to 402 after hours, after closing at 422.24.
iPhone sales came in at 17.07 million, compared with forecasts of 20 million — maybe the most disappointing number.
More to come tomorrow…
Analysts, on average, expected Apple to earn $7.22 a share on revenue of $29.5 billion.
Apple has not missed earnings forecasts since the second quarter of 2002, according to FactSet data.
The stock is down to 402 after hours, after closing at 422.24.
iPhone sales came in at 17.07 million, compared with forecasts of 20 million — maybe the most disappointing number.
More to come tomorrow…
Stocks nervous in last five minutes...
Looks like a little nervousness in the last five minutes as stocks settle off their highs.
Dow +179
Nas +42
S&P +24 to 1225
Pretty solid day ahead of Apple earnings which should affect the market overnight.
Dow +179
Nas +42
S&P +24 to 1225
Pretty solid day ahead of Apple earnings which should affect the market overnight.
Stocks explode to the upside...
Stocks jumped in late afternoon trading on reports that France and Germany have agreed to boost a rescue fund as part of an effort to stem the European debt crisis.
The Dow Jones industrial average is up 234 points, or 2 percent, to 11,631 at 3:50 p.m. Eastern. The Dow added more than 100 points within minutes after the report.
The Standard & Poor's 500 index is up 28 points, or 2.4 percent, to 1,229. The Nasdaq composite is up 48 points, or 1.8 percent, to 2,663.
The Dow Jones industrial average is up 234 points, or 2 percent, to 11,631 at 3:50 p.m. Eastern. The Dow added more than 100 points within minutes after the report.
The Standard & Poor's 500 index is up 28 points, or 2.4 percent, to 1,229. The Nasdaq composite is up 48 points, or 1.8 percent, to 2,663.
Dow moves higher despite selloff in IBM...
IBM is currently down 8.37 to 178.30
IBM's is the highest weighted stock in the price-weighted Dow Jones Industrial Average. It carries 12.39% of the weight, since it is the highest priced of the 30 stocks.
In spite of this the Dow is up 119 points right now...without IBM we would be up nearly 200 points.
IBM's is the highest weighted stock in the price-weighted Dow Jones Industrial Average. It carries 12.39% of the weight, since it is the highest priced of the 30 stocks.
In spite of this the Dow is up 119 points right now...without IBM we would be up nearly 200 points.
Starbucks going Blonde...
Starbucks Corp (SBUX) is going "Blonde," expanding its coffee lineup with its lightest roast to date in a move aimed at wooing more customers and capturing a bigger share of the U.S. coffee market.
The world's biggest coffee company is known for its dark roasts, which have prompted some critics to say the chain's coffee tastes burned. The new, lighter roast unveiled on Tuesday is milder in body and acidity than Starbucks' traditional coffees and the company expects it to appeal to a broad audience.
Mass-market competitors McDonald's Corp (MCD) and Dunkin' Donuts (DNKN) offer milder brewed coffees and in recent years have added lattes, mochas and other sorts of "fancy" espresso drinks popularized by Starbucks.
"We think this is a big opportunity," Jeff Hansberry, president of channel development for Starbucks, told Reuters.
According to Starbucks research, more than 40 percent of U.S. coffee drinkers -- or about 54 million consumers -- prefer a lighter roast coffee.
Additionally, nearly 71 percent of all packaged coffee sales in the grocery aisle are either light or medium roasted coffee.
The world's biggest coffee company is known for its dark roasts, which have prompted some critics to say the chain's coffee tastes burned. The new, lighter roast unveiled on Tuesday is milder in body and acidity than Starbucks' traditional coffees and the company expects it to appeal to a broad audience.
Mass-market competitors McDonald's Corp (MCD) and Dunkin' Donuts (DNKN) offer milder brewed coffees and in recent years have added lattes, mochas and other sorts of "fancy" espresso drinks popularized by Starbucks.
"We think this is a big opportunity," Jeff Hansberry, president of channel development for Starbucks, told Reuters.
According to Starbucks research, more than 40 percent of U.S. coffee drinkers -- or about 54 million consumers -- prefer a lighter roast coffee.
Additionally, nearly 71 percent of all packaged coffee sales in the grocery aisle are either light or medium roasted coffee.
Check out the Banks...
Here are some of the banks that are leading the market today:
Bank of America (BAC) +0.41 to 6.43
Morgan Stanley (MS) +0.61 to 15.85
JP Morgan (JPM) +1.34 to 32.37
Goldman Sachs (GS) +1.93 to 98.87
State Street Bank (STT) +2.20 to 36.07
Citigroup (C) +1.39 to 29.32
Bank of America (BAC) +0.41 to 6.43
Morgan Stanley (MS) +0.61 to 15.85
JP Morgan (JPM) +1.34 to 32.37
Goldman Sachs (GS) +1.93 to 98.87
State Street Bank (STT) +2.20 to 36.07
Citigroup (C) +1.39 to 29.32
Stocks having a nice day...
After an early selloff, stocks have staged a nice comeback. Banks are leading the way on the heels of the Bank of America eanings before the bell.
Dow +79
Nas +15
S&P +12 to 1213
Dow +79
Nas +15
S&P +12 to 1213
Earnings due tomorrow morning...
Notables reporting before the bell tomorrow:
Morgan Stanley (MS) +0.63 to 15.88
American Airlines (AMR) +0.05 to 2.81
United Technologies (UTX) +1.78 to 73.91
Blackrock (BLK) +2.58 to 153.51
Abbott Labs (ABT) -0.06 to 51.97
Morgan Stanley (MS) +0.63 to 15.88
American Airlines (AMR) +0.05 to 2.81
United Technologies (UTX) +1.78 to 73.91
Blackrock (BLK) +2.58 to 153.51
Abbott Labs (ABT) -0.06 to 51.97
Earnings after the bell today...
Companies reporting today and how they are trading ahead of those earnings:
Apple Inc. (AAPL) -2.14 to 417.88
Sonic Restaurants (SONC) +0.05 to 7.17
Intuitive Surgical (ISRG) -5.15 to 382.85
Cree Inc. (CREE) +0.33 to 26.94
Juniper Networks (JNPR) +0.62 to 21.02
CSX Corp. (CSX) +0.60 to 20.99
Apple Inc. (AAPL) -2.14 to 417.88
Sonic Restaurants (SONC) +0.05 to 7.17
Intuitive Surgical (ISRG) -5.15 to 382.85
Cree Inc. (CREE) +0.33 to 26.94
Juniper Networks (JNPR) +0.62 to 21.02
CSX Corp. (CSX) +0.60 to 20.99
Are you ready for McTV???
Coming soon to a McDonald's (MCD +0.4%) near you: McTV replete with HD in-house programming from the McDonald's channel. The company aims to grab its captive audience waiting in line for their burger and fries with niche shows, news, features, and 8 minutes of advertising per hour. McTV will launch in California initially.
What's going on with Pizza???
Domino's Pizza (DPZ) tacks on a 2.3% gain after beating estimates with its Q3 report. Net income rose 33% year over year for the quarter, led by strong international sales. Revenue for stores open at least a year climbed 3% Y/Y in the U.S. and 8.1% globally. Dominoes is hitting new highs.
Pizza Inn (PZZI) is hitting new highs as well.
Pizza Inn (PZZI) is hitting new highs as well.
S&P downgrades Italian banks...
S&P downgrades 24 out of 43 Italian banks it covers as conditions "continue to deteriorate. We do not believe that this difficult operating environment is transitory or that it will be easily reversed."
eBay ups Pay Pal expectations...
eBay Inc. (EBAY). CEO of the company, John Donahoe, increased a key forecast for the company's PayPal payments business during an Internet industry conference on Monday. Donahoe said total payment volume, or TPV, transmitted by mobile devices through PayPal's system will be more than $3.5 billion in 2011, during a discussion on stage at the Web 2.0 Summit in San Francisco.
We talked about this last week...PayPal is the money maker here...
We talked about this last week...PayPal is the money maker here...
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