Turning independent contractors into fulltime employees. We have the ceo ahead on bloomberg west. Earnings have just come out. This is a chinese Search Engine giant out with secondorder results, and i want to get julie hyman, our Senior Market correspondent. Taking a look at the headlines. Obviously there is a big focus on margins and a picnic to mobile. What are you seeing . Julie first of all, the headline margin for adjusting earnings adjusted earnings is seven cents short of what analysts had been anticipating. Revenue rose about 38 , coming in right in line with what had been anticipating, and it looks like the company is coming out with a forecast for thirdquarter sales but that is below what analysts were anticipating. Seeing an initial decline. You mentioned what is going on with mobile. The company says its mobile search monthly active users 629 , million for the month of june itself, an increase of 24 yearoveryear. Monthly active users up 48 , so i am still looking at the exa
And leaving the 1099 economy. We talked to a ceo, all of that ahead on bloomberg west. This is a chinese Search Engine giant out with secondorder results, and i want to get julie hyman, our Senior Market reporter. What are you seeing . Julie well, first of all, adjusted earnings essentially for u. S. Share, seven cents short of what analysts had in anticipating. Revenue rose about 38 , coming in right in line with what had been anticipating, and it looks like the company is coming out with a forecast for thirdquarter sales which is below what analysts four thirdquarter sales, which is below what analysts had been expecting. They say theyre mobile search 629 million for the month of june itself, and monthly active users up 48 , so i am still looking at the exact margins that you are talking about, but those are some of the numbers. In the second quarter, 590,000. We are looking, as well, for the investment in sort of a group on site similar to groupon in the United States. We are lookin
A massive loss and that stork is do sto down almost a percent. Phil lebeau is gearing up for the tesla call which starts in 30 minutes and well check in with him a little bit later and we have David Garrity manning the red phone for the Conference Call. Well hear his instant reaction later. First, we cake it off with Julia Boorstin who just spoke with Sheryl Sandberg moments ago. I just got off the phone with Sheryl Sandberg and we spoke after the earnings crossed and she wanted to talk about what drove the costs to better than expected revenue and earnings. The brands are moving to facebook and mobile. Advertisers are moving dollars over to reach them. Heres what she said about growth outside of facebooks core app. Instagram is a growing part of our business. We have now 8 million business profiles on instagram that are Small Businesses and were seeing a lot of usage and we are casting ads and stories. Messenger is really in a much earlier stage and something that we are really focuse
Make deutsche makes news. Tenyear back is almost to 1. 7. Oil holding on to that surprising reversal from yesterday. Jack Dorsey Square up double digits on news that visa took a 10 stake in the company. Aig is on the rise after announcing a 14 dividend increase, most importantly carl icahn representative getting a seat on the board and john paulson also taking a board see the. And another heated democratic debate last night with Bernie Sanders again taking aim at wall street. Well bring you some highlights. And global banks getting slammed. Whats behind the selloff and why . Some names are starting to rebound this morning. Futures extending their gains after data showed january retail sales rose a better than expected 0. 2. A rally in oil prices helping to increase positive sentiment. Yesterday at an Investor Conference in puerto rico, Hedge Fund Manager john paulson told Michelle Carusocabrera that he believes the markets have been overreacting to economic news, though he stopped shor
Really waiting for tomorrow and the ecbs latest decision. In the meantime, the dow little changed, just up 1 10 of 1 . Energy and technology are the two groups leading gains, as you will see from the bloomberg. In telecoms. A little change in Consumer Discretionary. Energy amtech are the two groups that have consistently been doing energy and tech are the two groups that have consistently been doing well today. Financials thats a group weve been talking a lot about, this seven Year Anniversary of the bull market. Its worth mentioning what has happened to the financials, not just during the bull market, but even before the bull market. Take a look at this chart that compares the financials performance with the broader s p 500 going all the way back to 2007. We have seen the s p 500 make new records. That happened last year. The financials have had trouble sort of getting there. They have lagged. They have helped lead during this bull market, if you date it to below 2009. But if you go b