Here to welcome fans inside the store. The line here, i can tell you guys, does stretch down the block. The new features and functions, fans excited about obviously this is a faster phone, a phone with a display thats about 25 brighter, and that new camera, at least according to fans weve been talking to online, that is the feature that has them excited. We talk about this phone obviously initially, expectations did seem relatively tempered, but then we did get those better than expected preorder numbers and, yes, we know the carriers were offering aggressive promotions, but financial Analysts Covering the company did still see the data points as encouraging. Now the question is how many people will upgrade and can the upgrades jumpstart the iphone franchise . We know thats a franchise which has seen two straight quarters of sales declines. The great bull bear debate. Bears like Collin Gilles are not competent. They think these changes are too incremental. On the other hand, you have g
For the portfolios we manage. We are, instead, putting on a one by two trade right here approximately at the 115 level in the stock. Thats what we started to do yesterday. We thought that the stock has still more room to run. Weve only heard what weve heard, of course, from sprint and t mobile. Apple isnt going to tell us anything for quite a while, and i think well hear more from at t and verizon. I think its all going to be good news. Everybody on the desk likes the stock. Do you think this move is justified . Sort of in the velocity of it . Yeah, i do. I think it was also very underowned. I went and looked at the weightings of apple in the s p 500. 3. 4 . I would venture to guess that many Portfolio Managers under underweight. You could have been underweight for most of the year, right . It it was the right call. For them just to get to market weight in this position i think thats what you are seeing here, and in addition, we are getting Interesting Data points. Less bad. Maybe even
What gelljanet yellen does. The banks fell nearly 1 . Deutsche bank leading the way lower and with the fed meeting next week and the government probe of wells fargo leading up, are financials a no touch heading into next week . Dan, what do you say . Its not just whats going on with wells fargo and Deutsche Bank. You have two fed meetings. If we get a string of bad data, maybe its jobs data, maybe its manufacturing data, they may not go 50 50 in december and these banks need higher ranks for them to continue to go up. Like you said, mel, theyre down on the year. Its one of the worst performing s p sectors. I dont see anything that compelling. I dont see Interest Rates ramping up between now and the end of the year at any time to make net interest margins that compelling and i think it will be a political hot potato. I think the question is at this point do the banks have priced in they dont have priced in a hike next week, right . Thats over. That was there was thats over. I think ther
And welcome to power lunch. Im melissa lee. Were winding down what has been a very volatile week with losses across the board. The dow and s p 500 scratching out tiny gains on the week. For todays session, though, dow and s p down by half a percent. The nasdaq is a standout for the week, up 2 on pace for its best week in more than two months. Thats mainly thanks to apples 11 rally so far this week, pulling back a little bit down 1 right now. Were also tracking oil down about 2 at this hour. It is at a fiveweek low. Welcome, everybody. Im tyler mathisen. Here what else is happening. Iphone 7 hits the shelf. It is flying off of them. Ceo tim cook greeting elated customers, reports that some apple fans in hong kong have been buying the phones and then selling them for twice the price. Exxons accounting under investigation by new yorks attorney general. The wall street journal says the probe focuses on why exxon is the only oil firm not to write down the value of assets amid a price plunge
Comedy central cheers and applause larry very kind. Very kind. Thank you so much. Thank you. So kind. Welcome to the nightly show. I am larry wilmore. So you know you take to the audience observer the show. Could you mention my birthday . Could you mention my birthday, too . Whats your name, peyton . You guys with bleep with me. But happy birthday, anyway, manny and peyton. Lets get right to it. Im sure youve all been following the big iphone case, not the 6s plus case, but the one where apple and the government are in a fight over your privacy. A federal court ordering apple to unlock the San Bernardino terrorists iphone, and this morning, tim cook, their ceo, telling the feds, get lost. Larry get lost . Dont worry, tim cook. If the government is using apple maps, they will definitely get lost. laughter not gonna be. cheers and applause burn apple burn so heres the deal. The f. B. I. Cant get into this terrorists phone, yet somehow i feel like if there were naked pictures of Jennifer