Alphabet, the stock higher after reporting a quarter that is under way. We have full Team Coverage under way and gene munster is listening in on his phone, and lets start out with deerd deid bossa. Im sorry guys just on the call right now the cfo was just talking and i was listening so intently because she was talking about the Second Quarter and shes seeing some signs of commercial activity recovering and she said it would be too early and too premature to make any kind of conclusion or talk about how durable that may be. Going back to the results the ad revenues were hit and perhaps not to the extent that wall street was expecting and they echoed the comments that cfo made saying that it was a tale of two quarters, strong at the start and then ad revenue declined he also struck an optimistic note saying he had reasons to be confident. Have a listen. Let me just explain that to you. He said he was optimistic because as they saw after the financial crisis in 2008, one of the strongest
And shanghai up 18 points. The dax up by a half percentage point. Similar gain for the cac in france the ftse in london up by a similar amount the yield in the to twoyear, up 1. 763 also look at gold prices because they were under some pressure yesterday gold down about 1. 6 1,27 1,279. 50 lowes is recording 1. 05. Above the estimates of 1. 02. Three cents above estimates. The revenue number that im looking at, at least sales, 16. 8 billion thats a bit above looking at this forecast company sees fiscal year eps of 4. 20 to 4. 30 if thats not an adjusted number, its below the 4. 50 on the estimate here. 1. 05, three cents ahead. The company is supposed to earn 87 cents next quarter that would have gotten the company to 4. 50. They beat it by three, so they only need84 cents in the fourt quarter to hit that number maybe thats adjusted. If its not adjusted, its below the forecast maybe theres something there. The adjusted number may be different than the 4. 50. Looks like theyre lowering
I swear people are bored with what is going on with the stocks including today where the dow gained 105 points. Nasdaq falling 1. 5 . You know what i feel like doing when i see these numbers they are all napping. They are napping. Either they dont want to say anything good about the market because of politics as the president has done a good job of linking himself with the performances of the averages or they are prone to sleep. No matter how good stocks get it doesnt seem to hit their radar screen. I was on the case last week. San diego not bad. All i heard was bit coin, bit coin and bit coin. Cramer, how about bit coin. Cramer, bit coin, is it too late is it too early . Never stop. The market is an abstraction for most people. The truth is if you are bored by this incredible rally may i suggest that you get your head examined all aboard. 53 of the people in this country have exposure to stocks. While i wish more americans could afford to participate in Wealth Creation that is the sto
You. Thank you. So, when you were with us on august 7th, you said the market is fully valued. From then until then the Dow Jones Industrial average is up 6 , the s p up 4 we overvalued now . Not yet, no i would say that, you know, basically bull markets ended over valuation and i dont think were overvalued use whatever adjective you want to describe it the market is not cheap and its not expensive. So as i think ive been saying, i think were kind of approaching normalization, and to me normalization is a 17 multiple on earnings and the trick is what is the earnings youre looking at . You know President Trump and the republicans get their way, and we have a tax package, you can see earnings next year in the s p about 150 and the 17 multiple and 150, i think its 2550 that would be fair value, full value but fair values, and, you know, most bull markets end over valuations so took another 10 to 15 to that number. The trend is favorable and the conditions that normally lead to a big market
Maybe were so cynical so conditional to the economy and a so so market, we simply cannot imagine what were seeing on our screen at the end of a very good month where we powered higher in where we havent seen in ages. Its october people. We need to address something, we need to address what i call the inxray jewelty issue. This kind of rally seems unbelievable the worlds been starved of growth for ages, we havent seen anything like it for so long that we have a hard time grasping this move and therefore, it makes the move feel phony but thats only because were so accustomed to living in the shadow of the great recession. We had a huge worldwide slow down which made us believe that growth is lower to come by for years it felt like our committee or the major committees overseas were going to be muted because businesses didnt want to spend, because there wasnt enough nand to make it worthwhile. In that period of slow growth what defined a winning stock, well lets talk about that what worke