Tesla Motors (TSLA): Q1 EPS of $0.12 beats by $0.08. Revenue of $562M (+16% Y/Y) beats by $63M. Conference call scheduled for 5:30 PM EST. Shares +8.1% AH to $60.33. (PR) [View news story]
Why Caterpillar Is Worth Over $100 Per Share [View article]
P/E of 9, but the E is starting to crumble. Its fun to draw straight lines to $181, but they were supposed to earn $9 in 2013, and its going to be closer to $7
Apple (AAPL) -3.4% to $392.50 as the Street continues digesting the light FQ3 guidance provided with its FQ2 beat. BMO's Keith Bachman has cut shares to Market Perform after recently expressing concerns about iPhone mix. "We think the challenges of 1) increased competitiveness in the smartphone market, which we believe will pressure ASPs and margins – will largely offset 2) improved capital allocation." In a set of charts analyzing Apple's results, Dan Frommer points out the iPad is now 20% of sales, and iTunes/Software/Services 9% (the iPhone is 53%). (previous) (transcript) [View news story]
Market perform means it should be going up 2% a week
Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR) [View news story]
An Amazon (AMZN +1.7%) smartphone with a 4.7" display is on the way, sources tell Digitimes, which has been fanning the rumor mill for this subject for some time. Whereas the site reported on March 11 the phone's launch had been pushed back from Q2 due to manufacturing issues, it now says a launch may or may not happen in the quarter, depending on Foxconn's progress. [View news story]
Maybe it will finally get the 10x trailing earnings that other smart phone makers trade at
Calumet Specialty Products (CLMT) -4.6% AH after announcing a public offering of 5.25M common units. CLMT says it intends to use net proceeds for general partnership purposes, including working capital, capital expenditures, acquisitions and possibly pay down debt. [View news story]
We feel like diluting out equity holders because, well why not?
Lennar (LEN) CEO Stuart Miller is bullish on the housing market. "We are clearly in the midst of a recovery," he says. "Prices are moving up not because costs are moving up so much, but because demand is getting so strong." Just look at Nevada, one of the nation's hardest hit by the housing collapse. Despite a 334% surge in new foreclosures, builders are ramping up production. Housing starts in Las Vegas are up nearly 100% from a year ago. Miller says he wouldn't be surprised to housing starts get to 1.7M, even 2M nationwide at some point when the recovery really kicks in. [View news story]
More importantly, who is doing the buying? If it's mostly BX and other speculators that's a pretty big false signal about the state of the consumer.
Ed Yardeni charts the surge in Canadian and U.S. oil output vs. Saudi Arabia: "Their actual output exceeds the maximum sustainable production of Saudi Arabia, widely estimate to be 10M bbl/day... To prop up the price, the Saudis have been forced to lower their output by 1M bbl/day over the past seven months to 8.8M bbl/day during January to make room for all the crude pouring out of North America.” [View news story]
Good News for every American citizen, whether they realize it or not
More on Einhorn and Apple (AAPL): The company needs to use the same level of creativity with its balance sheet as it does to produce products, writes Einhorn. Every $50B of perpetual preferred stock distributed would unlock about $32/share of value, he says, and Apple has the capacity to distribute several hundred billion. "Greenlight is alarmed that Apple is attempting to eliminate preferred stock from its corporate charter." Shares +0.7% premarket. [View news story]
Groupon - Why You Should Sell The 100% Rally [View article]
My only comment is that people like you got flushed out of the stock many months ago. It has been on a tear because the only people left in GRPN don't seem to be interested in selling.
Agreement has been reached on all tax issues, says Senate Minority Leader McConnell, speaking on the Senate floor. Stocks move to session highs, the S&P 500 +1.5%. [View news story]
Forget Boehner (who probably is on board), how about his caucus that didn't vote for his own plan
Fox, CBS, NBC call the presidential race for incumbent Barack Obama after multiple networks call Ohio for the president. Updated: S&P e-Mini futures look priced in: -0.47%; The dollar -0.47% against euro, -0.41% against Swiss franc. Updated 11:38 p.m: AP calls the race for Obama. S&P futures -0.58%; the dollar -0.41% against euro; -0.2% against pound; -0.39% against Swiss franc. [View news story]
The republicans should be thanking democrats for knocking those 2 morons out of their seats.
Tesla Motors (TSLA): Q1 EPS of $0.12 beats by $0.08. Revenue of $562M (+16% Y/Y) beats by $63M. Conference call scheduled for 5:30 PM EST. Shares +8.1% AH to $60.33. (PR) [View news story]
Why Caterpillar Is Worth Over $100 Per Share [View article]
Apple (AAPL) -3.4% to $392.50 as the Street continues digesting the light FQ3 guidance provided with its FQ2 beat. BMO's Keith Bachman has cut shares to Market Perform after recently expressing concerns about iPhone mix. "We think the challenges of 1) increased competitiveness in the smartphone market, which we believe will pressure ASPs and margins – will largely offset 2) improved capital allocation." In a set of charts analyzing Apple's results, Dan Frommer points out the iPad is now 20% of sales, and iTunes/Software/Services 9% (the iPhone is 53%). (previous) (transcript) [View news story]
Apple (AAPL): FQ2 EPS of $10.09 beats by $0.02. Revenue of $43.6B (+11% Y/Y) beats by $1.1B. 37.4M iPhones, 19.5M iPads, just under 4M Macs. Expects FQ3 revenue of $33.5B-$35.5B, below $39.3B consensus. Buyback increased by $50B. Shares halted. CC at 5PM ET (webcast). (PR) [View news story]
An Amazon (AMZN +1.7%) smartphone with a 4.7" display is on the way, sources tell Digitimes, which has been fanning the rumor mill for this subject for some time. Whereas the site reported on March 11 the phone's launch had been pushed back from Q2 due to manufacturing issues, it now says a launch may or may not happen in the quarter, depending on Foxconn's progress. [View news story]
Calumet Specialty Products (CLMT) -4.6% AH after announcing a public offering of 5.25M common units. CLMT says it intends to use net proceeds for general partnership purposes, including working capital, capital expenditures, acquisitions and possibly pay down debt. [View news story]
Lennar (LEN) CEO Stuart Miller is bullish on the housing market. "We are clearly in the midst of a recovery," he says. "Prices are moving up not because costs are moving up so much, but because demand is getting so strong." Just look at Nevada, one of the nation's hardest hit by the housing collapse. Despite a 334% surge in new foreclosures, builders are ramping up production. Housing starts in Las Vegas are up nearly 100% from a year ago. Miller says he wouldn't be surprised to housing starts get to 1.7M, even 2M nationwide at some point when the recovery really kicks in. [View news story]
The Google Express (GOOG +1.8%) refuses to slow down: shares are outperforming/making new highs again today as Jefferies becomes the latest firm to slap a $1,000 PT on the search giant. The firm cites some of the usual reasons: YouTube, improving mobile ad prices, and e-commerce initiatives. (Bernstein) (CLSA) [View news story]
Ed Yardeni charts the surge in Canadian and U.S. oil output vs. Saudi Arabia: "Their actual output exceeds the maximum sustainable production of Saudi Arabia, widely estimate to be 10M bbl/day... To prop up the price, the Saudis have been forced to lower their output by 1M bbl/day over the past seven months to 8.8M bbl/day during January to make room for all the crude pouring out of North America.” [View news story]
More on Einhorn and Apple (AAPL): The company needs to use the same level of creativity with its balance sheet as it does to produce products, writes Einhorn. Every $50B of perpetual preferred stock distributed would unlock about $32/share of value, he says, and Apple has the capacity to distribute several hundred billion. "Greenlight is alarmed that Apple is attempting to eliminate preferred stock from its corporate charter." Shares +0.7% premarket. [View news story]
February's First Friday Finds Futures Feeling Fairly Frothy [View article]
Groupon - Why You Should Sell The 100% Rally [View article]
Agreement has been reached on all tax issues, says Senate Minority Leader McConnell, speaking on the Senate floor. Stocks move to session highs, the S&P 500 +1.5%. [View news story]
How Apple's Current Price Is Justified [View article]
Fox, CBS, NBC call the presidential race for incumbent Barack Obama after multiple networks call Ohio for the president. Updated: S&P e-Mini futures look priced in: -0.47%; The dollar -0.47% against euro, -0.41% against Swiss franc. Updated 11:38 p.m: AP calls the race for Obama. S&P futures -0.58%; the dollar -0.41% against euro; -0.2% against pound; -0.39% against Swiss franc. [View news story]