With the chairman in the midst of a sales lunch, whose as the company has a plan b. And the cost of being cool. A former executive testifies the Company Fired thousands of workers in recent years in an effort to compete with Companies Like google and amazon. The latest on multiple age discrimination lawsuits facing big blue. Our top story of the week, apple earnings. The tech giant forecasting revenues that topped analyst estimates, and services now contribute to a fifth of total sales. They also reported the iphone represented 45 of revenue, the first time it has made up half of sales. In a way, this is progress towards apples less reliance on the flagship product and more on new lines of business. I got reaction from bloomberg businessweeks max chafkin and a Portfolio Manager, dan morgan, who manages apple stock for his clients. Dan it was interesting, if you would have told me they would have missed on both services and revenue, i would have said there was no way they would beat on
Their finances. First, shares of qualcomm falling in after hours trading after they gave a downbeat fourthquarter sales forecast. At the high end, they are looking at 5. 1 billion sales. Warningin line with a issued back in april. Joining us to discuss our guests from new york and l. A. The revenue forecast for the Current Quarter was late. The forecast for the quarter also very light. Up . 75. Ted eps street was looking for 1. 10. It boils down to qualcomms basic is this model. It has a controversial practice of not just selling chips to manufacturers but licensing and they want royalties equal to a certain percentage of the value of the device. This has caused a lot of litigation problems for qualcomm. Earlier with apple this year. There are a lot of questions about similar case brought by the ftc. A judge in the ninth circuit ruled against qualcomm. They are waiting for an appeal and there is not a lot of clarity in todays Earnings Reports. They may be getting into it on the call as
Give us a sense of the area. Its a very strange vibe on the streets here admittedly. People are having a bit of difficult time just remember images that we saw come out last night and its the first time that weve seen in the protest already mass attackers coming after protestors and they were beating them pretty savagity with a baton. And it really added a bit of a new dimension to a pretty fast that until now, weve been watching over the past seven weeks and been surprised by the momentum it sustained and surprised the fact that carrie lamb is continuing to maintain ground. David carrie lamb denied the attackers on the protesters came from the government. Is there a sense that the government is behind the attacks . They did really attack the protesters. You know, that would all be speculation at this point. She and the Police Commissioner had a very somber press conference that came out with a lot of officials. And they really dug their heels and they said that these attackers were no
100 bucks perhaps in the cards instacart readying its wall street debut pricing at 30, thats the first of five listings this week it is amongst the first of the tech unicorns the last few years to go public thats almost two years, in fact, since weve seen one go public lets begin with the markets and the fed kicking off a twoday policy meeting yields got a little pop here, jim, on canadas cpi, reaccelerating for the second straight month. What a bummer the fed must find itself in were not building enough homes. Lennar said last week a lot of brokerage houses raised numbers. Lennar today almost a de laid reaction we just dont have enough homes. We have this huge millennial bulge, and theres just no doubt about it they will not be deterred by these rates. That doesnt mean they wont be deterred by higher rates these rates, according to Stuart Miller who i think is the dean of the group and executive chairman of lennar arent detouring anybody. You have fewer homes you have the one thing th
Caroline spacex price starlink satellite process burning through more cash than it brings in great the exclusive bloomberg reporting and so much more through this hour. It is a macro day in the market is under pressure is once again pricing increases are still running higher than the market wants to see. Higher than had been anticipated in the Federal Reserve only gets to hike one or two times this year. The market in the fed signaled we reprice this idea the fed hut the fed cut will be coming. We seen the fall on the nasdaq more broadly. We are seeing a real pushback in terms of the bond market. We see yield spiking on the frontend on the twoyear but higher across the curve. Notably we are down from those 21 basis point move we saw earlier but nevertheless we are basically at the highs of this year. Looking at the bloomberg dollar index that strengthens into a far more hawkish tone from the market signaling the fed doesnt and cannot hike as many times cut as many times that have been