We have a number of stocks to watch this morning. All names that reported after the opening bell. Amazon posted a quarterly loss nearly double wall streets consensus. The results were hurt as the Company Continues a rapid pace of investment. Amazons cfo says the company is spending more than 100 million on original video content in the third quarter. Were going to be talking to an amazon analyst coming. Up lets say that again. Amazon analyst coming up in the next half hour. Visa posted betterthanexpected earnings and revenue. Thats mostly because of growth and cross border transactions than been slowing amid a stronger dollar. And starbucks earnings amid the street. Stronger than expected and take a look, that stock still down by about 2. 5 . Andrew, well send it over to you and the big question is, did you get picked for jury duty yesterday . I did not get picked for jury duty yesterday. I have one more day to go. Supposedly you do two days max if you dont get picked. Im hoping its a
Andrew, welcome back. Thank you, becky. It is now official, weve been talking about it for weeks if not months, but bnp paribas has pleaded guilty to charges and paid ads 9 billion fine to resolve violations. 9 billion i think is the most any bank has ever paid in a case like this. The bank is banned for a year from conducting certain dollar transactions. Thats key and its important because its a key part of bnps International Business and will cost them and hit their bottom line. Fbi director jim comey yesterday with a message to all shareholders, not just those with a stake in bnp. The 9 billion thats walking out the door today is your money. We do these cases over and over again and shareholders money walks out the door. Until shareholders demand from their boards that those boards choose leaders who understand what it means to create a healthy culture of compliance, the money will keep walking out the door, well have to keep doing this work. And the penalties against bnp are signif
Not all stocks can be gopros. General motors recalls another 8 million cars. Today mark the end of the rebound in autos . Better late than never. Time to buy netflix, content, customers, country, all king. Hashtag impulse buy, twitter, buy it now button making an acquisition of its own. Futures pointing higher first day of the second half, s p and nasdaq coming off the longest quarterly winning streaks since 1998 and 2000 respectively as we wait for manufacturing, construction numbers this morning, china pmi better than the alternative at 50. 7. Its pretty strong, but no, maam numbers not as strong. China, when the number came out, up at the moment, but i said, no, better than expected. Thats not possible. Weve come so used to china missing. Dont forget. If you go back to 2008, last time china was in charge, stocks went higher and higher. Caterpillar went up pretty much into all these china pmi numbers so these things really, really do matter. I find that china correlates with the stal
Buy buy buy buy i dont know when that fact will bleed its way into the thick skulls of those who cant get their heads out of the Great Recession sand. But the usually down open off concerns about a troubled portuguese bank, and the subsequent beautiful recovery, where the averages rebounded nicely, dow going from down 180 points in the morning to just 71 points a to the close. S p closing down just 0. 14 , nasdaq down 0. 25 . That might jar some investors, that recovery, off their deeply ingrained europeanbased bearishness. Theres not a lot of good that comes out of getting hand surgery, but today may be one of those days, because it reminds me of how the 2014 market really works. See, this morning, i was totally out of the action, both in preop and then passed out under the knife. When i came to, i saw the market down a little less than half a percent and i had to work backwards to figure out what was going on, how did we get there . Sure enough, for those of you who werent unconsciou
Afternoon. Some economists are cautioning investors to remember that this fed meeting were going to hear about took place before june jobs numbers were out. Meantime, the start of earnings season is always a driving force for the market, as well. Scott has the details on some of the first reports. Alcoa beating the street on the top and bottom line. The company says it saw strong results in its engineered products business. Meantime, its looking to cut costs. Shares are up nearly 40 so far this year and out after the dow last night, results from the Container Stores. The company posting a better than expected loss and lowered its full year guidance. The ceo pointing out what he calls, quote, a retail funk saying the Container Store and its fellow retailers are experiencing slight traffic declines in what he describes as a surprising tepid retail environment. Shares down sharply in extended trading. A mixed story for bob echts. The food earnings beat expectations, but revenues fell a bi