Southwest, at t, dow and Union Pacific this morning, jim, the hard thing today, jim, is going to know where to start. Yeah, i mean, look, i think last night the news flow was, as you said yesterday, heavily weighted toward microsoft which people regarded as disappointment i think that disappointment is not having the greatest quarter in the world, lets just say that today i think that the focus is whats going to happen when these benefits end and which companies are going to be able to continue to deliver the numbers. For instance, chipotle had a great number, will that be impacted whirlpool had a great number last night will that be impact snd what are we going to see with southwest air we had a fantastic interview with american and then secretary mnuchin i felt once again sounds like theres some room to get a deal done. We need a deal or else were going to find ourselves with a consumer who is too strapped and i think that thats what im looking at for next week and then of course im
The staggering run into this report lets go straight to phil lebeau with all the details. A beat on the top and bottom line and the beat on the bottom line is significant. Lets run through some of the numbers. Much better than expected earnings per share and its a fourth straight profitable quarter for tesla. 2. 18 is how much it earned in the Second Quarter the street was expecting three cents profit revenue just over 6 billion as i mentioned, a fourth straight profitable quarter for tesla. We know the significance of that it is the last hurdle the company needed to clear in order to be included in the s p 500. Lets drill down some numbers within the report that are going to get attention operating cash flow, 418 million. Automotive revenue was actually down it declined by 3. 4 in the quarter, not a surprise given the fact that you had the freemont factory shut down for five or six weeks. But the automotive regulatory credits revenue, thats where they made it up. That was up 317 milli
Ken frazier earlier on squawk on the street, take a listen to this when theres unrest, people put out statements, they put out platitudes they say this is terrible. We decry racism. We believe we ought to build a just society i think business has to go beyond what is required here before the pandemic there was 12 milliontilunfilled jobs in this country and 5 million inner city kids who want access to the economy. They want to be participants, citizens and consumers what they lack is the education, they lack the training there are opportunities for programs ken is so right well talk a lot about how American Business, how the corporate sector tries to heal this country thats obviously broken youre correct. It is the corporate sector and some of us would say other than the Atlanta Mayor who gave such a tremendous speech, were looking for leadership maybe we find it more in corporate or im reminded gina rometty created low income and low opportunity neighborhoods where she built schools, p
That this may reflect an extension of that stayathome trade weve been watching. Look at all the stocks popping early on those are all Companies People were giving up on even ten days ago when they felt the trade was the mike corbat trade. You recognize if you can do what some companies are doing, which are saying its up to you if you want to come back. I think now the onus is saying im not coming back. No way lets dig n get bin and get bet cybersecurity. Those are the stocks that are popping. I respect that from people who say i do not want to be back at that building. The pandemic is not done and the pandemonium has begun. What explains boeing up 1 , carnival up 2. 5 i assume were looking at hopes that these demonstrations and protests will not result in a further outbreak of the virus, and that these epicenter stocks will continue to outperform. We keep betting you have to have it. Its been seven days now the incubation period, theres a lot of news stories saying the new strain is ou
Facebook premarket, zooming after a big gain yesterday. Its Financial Report suggested some stability returning to the advertising market. Facebook getting 98 of its revenue from ads. This company is a truly global platform. Over 1. 7 billion daily users. Stocks up another 6 this morning after a gain yesterday. Look at microsoft. Big gain yesterday, modest gain this morning. Its close to its alltime high. It says the virus had little impact on its business. Up 1 , microsoft, this morning. Its true to say these trillion Dollar Tech Companies are again pulling in a big chunk of investors money. One more for you. Tesla. Yep, another big gain. Elon musk is furious at the california authorities for keeping his fremont plant closed. He calls them fascists. More on that in a moment. Look at tesla go, 854, up 54. Overall trn overall, its a down day. The dow is looking to be down 280 points. The s p down 33, and the nasdaq, despite the success of big tech companies, thats going to be down as we