This hour europe is down a little bit. Were giving back just a little bit today after another great session but descent session yesterday. You can see if youre not listening on the radio, were down about 40 points on the dow jones. The nasdaq is going to benefit from the great numbers from google. It benefitted earlier this week by netflix and has i wouldnt say diverged from the other averages but certainly been much stronger than a relative basis. S p is down less than a point. In europe, there were green arrows after what has been a pretty good week and since last week when the feeling that this would be resolved favorably in terms of greece started and seeped into the markets. France. The only index at this point up but upright at a fifth of a point. Asia this morning is better with japan higher. The hang seng higher. And what were watching closely is shanghai up sharply. Up 3. 5 in a snap back. Crude continues to be on the weak side. Now down under 51. Next stop potentially under 5
Google surging. Ge shows strong profit in the industrials unit as the Company Continues to shed the assets in finance. Amazon says hater can hate but prime day is here to stay. The company saw a 93 prime increase. The germans say yes to starting the bailout talks. Were waiting for a formal announcement that talks will start on monday to keep greece in the eurozone. First up google up sharply on strong quarterly results. Up 25 in the past week. It beats the street. The Company Called out a Strong Performance in mobile in youtube and program advertising, but its an increasing focus on cost thats getting the attention today. This is ruth porat on the call last night. To be clear, the prioritys Revenue Growth but pursuing it is not inconsistent with expense management. And as i noted were just starting the 2016 budgeting process. In my experience the best way to slow the rate of growth in expenses is to work closely with Business Leaders anchored in data so we can identify ways to prioriti
Stanley. Gold falls to a fiveyear low while the dollar hits a threemonth high, well look at the Drivers Behind the moves and the impact. And ebay and papal begin trading as independent companies today. Well talk with the e bay ceo later on. First up Morgan Stanley better Second Quarter results. A Strong Performance in the brokerage business. Long lines in greece over night as the banks reopen after about three weeks. Some capital controls. You can access your safety deposit box. You cannot cash a check. You can deposit and there are limits on the number of euros you can take out. Morgan stanley, trading is the story this time after Wealth Management has been the story there. Lets compare this. For fixed income morguen stanley had a gain of 30 . Jpmorgan minus 10. For equities plus 28. Goldman plus 24. Citi minus 1. Some people are saying the liquid ratios arent enough. That was the wrap on the story about why it was up 41. 5 and then people turned it down. This has been a phenomenon of
The road map begins with ibm, sales falling for the 13th straight quarter. Ibm not the only stock were reporting on this busy weeks this week. Mixed quarters for vz and united technologies. And facebook the company overtaking overtaking General Electric in market value. Ibm, sales down. Adjusted earnings did beat but the performance of the traditional and software dragging. Earnings hurt by the strong dollar. And they expected a slightly stronger currency impact. The cfo is calling the results a reflection of where we see longterm value in i. T. This will take some time. I think one of the things that happened that was wrong were ibm was that the stock ran in anticipation this would somehow be a breakout quarter. The cf so great. He made it clear it wasnt going to be a great quarter. I kept thinking what about what he said made him feel like this was the one. Software was not as long as id like. Backlog did grow. There were problems in brazil russia, india, china. I am not defending th
Zinc. Apple shares under pressure with a rare disappointment for investors. Shareholders also frustrated with yahoos results and microsoft posted the largest loss ever. The story of the morning, apple with results did beat on the top and bottom line but iphone shipments lower than estimated and projecting Fourth Quarter below estimates. They didnt break out the apple watch sales as a category but they did address demand. A major highlight for the last quarter was the launch of apple watch in april. As you know weve been very excited to get this revolutionary product to customers. We started taking preorders in Nine Countries on april 10th and demand immediately exceeded supply by a large margin. As i look at all of these things, we felt really great about how we did. Of course the apple watch is fun to talk about but the phone metric is key. 47. 5. Best Third Quarter growth ever. Are we to believe the quarter hinges on if it can hold 119. I think there are many issues involved with app