Three day strike which had cut production by nearly half. In the meantime back in the United States data showed that stockpiles actually rose last week. Despite all you see oil prices down about 2 . The biggest intel earnings topping estimates. That is the good news, revenues were in line. The chip maker giving weak Current Quarter revenue guidance and as a result cutting its full year profit margin outlook. Shares under some pressure. But intel also announcementing it is going to be cutting 12,000 jobs globally as it works to diversify away from the struggle pc industry. This restructuring is a tool to do that. And what it allows us to do is to be more forget, to be more profitable and to increase investments in some of these new areas, things like the data center and memory, internet of things, 5g and opportunities in the client space where we can concentrate investments on areas we think we have great return and can generate for intel in the future. New roles and a formal search pro
Misses. Heres a stat. Today aloerngs microsoft and google lost a combined 30 billion in market capitalization. Apple is also lower right now by the way. Still in a bear market territory. Apple reports earnings on tuesday. Well have much more on that in a second. But first, lets dig in on alphabets mess. We have a senior internetab analyst joining us. It seems like the sentiment on the street is well lower targets but keep ratings. Were standing by alphabet. That is certainty not the attitude of investors in todays session. What is your take on the stocks move . Not surprised to see it down. Obviously, the revenues were a disappointment. They came in 2 below street estimates. You did see increasing season alt in the business. So q4 is very strong. However, q1, we typically do expect season alt. It was a little weeker than we expected this time. It is possible as google matures that its going to be fluctuate more with the seasonality of ecommerce. Were still positive longer term. It did
I am mark barton, a quick look at the market at the markets. We are going to see a second consecutive day of gains if things stay the same for the next seven hours. The stoxx europe 600 is a by 1 today. The mining index is the big performing Industry Group after slumping yesterday. Credit suisse big jump today. We had a loss, not quite as bad as forecasts and brent crude is up today after reporting yesterday up. 6 . Here is nejra cehic. Nejra chinas Consumer Prices continue to rise at a healthy pace in april, but still a bit low the governments target rate. 2. 3 was driven by prices given the pboc a reason to hold off on another rate reduction. Easing ing to an factory gain inflation. Be his topverty will priority as he claims of victory in the filipina in the philippines president ial election. A zero tolerance approach to crime and corruption. A string of on guarded unguarded comments. As ills political system has fallen even further as an old that bodies vote to impeach the presiden
Higher in terms of commodities. Copper up. 4 . Euro pretty much flat after a bit more hawkish. Hinting we could see a rate hike this year. We see 50 chance of a rate hike. Lets have a look at the equity markets. So much corporate news. Airbus up 3. 5 . Third quarter profit up 12 . They are going to increase the amount they are producing in terms of a320. Bnp paribas up 3 as well. Profits gain. Bullish on Investment Banking. We can raise our market share, they say. Renault up 3 as well. Confirming higher margins. Get this raising the outlook for europe and france in terms of the market for cars and demand. Jonathan thank you very much. Decent numbers out there this morning. 2 . Tse 100 up by the cac up. No halloween surprises from the boj as governor kuroda bets japans will hit its inflation target. China gets rid of its controversial one child policy and shares and charge related stocks soar. Later, a monster october. Forrap up a bad month equities. For its best month since 2009. No ch
A year earlier. Chinas Producer Price index dropped more than 6 . 43rd straight month of declines. Delaying its plan amid market volatility and four of the five companies that have gone public priced offerings below their expected range. Two ipos to watch today. First data and super market chain are both scheduled to price this afternoon but of course already starting to see cracks in the ipo market. Well see where those two go. Shares of sandisk jumping this morning. The flash Memory Company hired a bank to explore a sale of Micron Technology and Western Digital said to be in talks with sandisk. Merger is going through. Well talk about that. But is it the end or the beginning . Were getting closer to the end. But its frothey. These are 60 and 100 million deals too, right . I would argue all being done by companies that have weak fundamentals and thats the scary part. The question though, theyre slightly more rational than the deals at the real end of the bubble which is to say the pie