Zinc. Apple shares under pressure with a rare disappointment for investors. Shareholders also frustrated with yahoos results and microsoft posted the largest loss ever. The story of the morning, apple with results did beat on the top and bottom line but iphone shipments lower than estimated and projecting Fourth Quarter below estimates. They didnt break out the apple watch sales as a category but they did address demand. A major highlight for the last quarter was the launch of apple watch in april. As you know weve been very excited to get this revolutionary product to customers. We started taking preorders in Nine Countries on april 10th and demand immediately exceeded supply by a large margin. As i look at all of these things, we felt really great about how we did. Of course the apple watch is fun to talk about but the phone metric is key. 47. 5. Best Third Quarter growth ever. Are we to believe the quarter hinges on if it can hold 119. I think there are many issues involved with app
Manus im manus cranny, and you are . Francine im francine lacqua. Breaking news. It is a little better than expected. A lot of people were expecting this july number to be changed maybe a little pressure from greece or from the ongoing concerns about china. Not so. Better than expected at 108. Manus this comes in with five straight months of declines. People are saying it is beginning to look like the purchasing Managers Index for the whole of europe which just slipped a little bit but is still showing overall growth. This is three years off from when mario draghi said he would do whatever it takes to save the euro. Good numbers there. Francine Current Assessment better than expected. Expectations also better than expected. Chinas stocks have tumbled with the shanghai composite index falling the most since february 2007. There is a concern that a rally sparked by Government Intervention is unsustainable. Manus caroline has all the details. Down over 8 on the shanghai market. Caroline t
The greece story would play out. We did see a significant head line in the index in the month of june coming in at 1. 074. Coming in at 1. 08 against expectation. Were looking at highs of 1. 11 against the u. S. Dollar. Lets get reaction from bill oneal from ubs Wealth Management. From the headline number bill this number looks pretty good . Yeah i think its provide something reassurance that a multidollar recovery is still under way in europe. I think the weakness of the euro posed the greek settlement that played a role here. Clearly that to be reflected in green coming through the market for the midyear as well. But i think its important that the market was to have some nasty surprises after some pmi number, purchase managing numbers, of course that did disappoint. We should point out that the ifo has said their june expectations has been revised up to 0. 121. Its also a twoweek i after the ifo. I guess the question is what does it mean for the exporters out there who have been bene
Safety and innovation to recalls. And ubs trades lower despite the market. This is after it is investigating a newspaper report that prompted it to release earnings early. Welcome, everyone, to the show. This is the second hour of wx wgs. Worldwide exchange. A quick look at u. S. Futures. We have a busy week. Not just meetings or you a fed policy week. Durable goods. But social media, on whether Companies Like facebook and twitter can continue to deliver growth. The dow up 70 points. Nasdaq up 1. S p up 7. Very interesting to see a positive open on wall street despite the volatility that we saw overseas in asia. Shanghai composite down. And in the meantime take a look at european equities. They seem to be following suit from overnight. The xetra dax down 91 points. A lot has to do with better than expected ifo data out of germany. 108 is the number for month of july, versus 107. 5. Perhaps the reason were looking at the German Market down at this moment. A quick look at bonds. If youre
Negatively. The dow opened lower, the nasdaq lower by 6. We had a multibillion dollar deal. Teva acquiring allergan. We should tell you that teva is officially withdrawing its off for mylan. You may have remembered they made that offer as a hostile offer. It was not morninging. Mylan which located outside of the u. S. Became a bizarre beneficiary of moving outside because of the way the governments rules work abroad were they relocated it made it much more difficult for teva to pursue a deal. How do you think the mylan shareholders feel about the big fight . How do they feel this morning . In the immediate case i think that they cant be thrilled. Longterm, mylans ceo has made the argument and i actually buy it that theres more value to them reinvesting by reinvesting and being independent. So well see what happens there. Can i ask a really important question . Yes. Friends of mine would like to know. Does this get us any closer to a botox thats what friends would like to know . I have