S&P Futures exploding to the upside - currently +8 points flirting once again with all time highs....Nasdaq futures +45 - pick up the paper this morning and what do you find?
Apple 'blows the doors off the bus' - iPhones sales exploding off the shelves - Profits +7% yoy - per share earnings +15% at $11.62/sh vs. $10.18/sh estimate. (Note - corp repurchase in place has reduced the shares outstanding thus increasing earnings per remaining shares) - Gross margins rise to 39.3% from 37.5%...
And the bells keep ringing.....Next - they announced an increase of an additional $30 bil in the corp buyback program, a 7 for 1 stock split (which will take the stock to about an $80/sh value post split - allowing for more individual investors to 'buy in') and an 8% increase in its annual dividend - traders celebrate by taking the stock up 8% in post mkt trading.... and this morning the stock continues to trade in the $564/sh range. And China? They did NOT disappoint Apple at all.....Revs in that part of the world +13% - so what is everyone worried about in China? Clearly - all of that doom and gloom is misplaced....China is not imploding as evidenced by this latest report.
FaceBook - Yup......triples its profits on a 72% increase in revenues - blowing right past analyst estimates....Ad sales fueling this dramatic increase establishing it as a 'digital advertising powerhouse'.........Shares up 4% in post mkt trading and remain there in early pre-mkt trading....
"Discount Brokerages See Bounce in Trading -TD Ameritrade and E-Trade reports large jumps in volume in 1st Q" -
30% and 33% respectively... here we go.....more mobile trading tech, lack of alternatives due to zero interest rates, and strong mkt gains all making 'Joe Q Public' feel invincible... Gabe Mercer - 22 yrs old - sums it up perfectly - "It seems like a great time to be in the market" - he took $500 and made a few trades and now hopes to become a 'full time trader one day'. OH - how history has a way of repeating itself.....does DOT COM mean anything?
Now yes - stocks took a breather yesterday.....using the soft housing sales report as something of an excuse - but pay no attn to weaker housing sales.....Aunty Janet will not disappoint - she knows how important housing is to the 'recovery' and while everyone expects her to take another $10 bil off the table next week - they also expect that she will remain 'accommodative' by keeping the zero interest rate policy in place. As we know - this will keep any correction at bay.
Now - we are heading into a typically weak period....I say typical - but in reality - is typical really typical any longer? That old adage of "Sell in May and go Away" may not be the best advice this time around.....If we break out to the upside - will we just keep going? Certainly feels like it....This mkt just does not want to go down - nor will the FED allow it - continuing to confound even the best minds.
As discussed the past couple of days - M&A activity is erupting around the world....we have seen 4 deals in the past 3 days and last night - CNBC and Bloomberg both report that GE is in talks to write a $13 bil check for Alstom - the French manufacturer of trains and power plants - now everyone denies this story...but remember - 'where this is smoke - there is fire'......
The deal highlights the opportunity..... Alstom has been struggling during the GFC due to the sluggish recovery in Europe, as well as 'unenthusiastic' demand from the emerging markets. Recently though - Europe appears to be making a comeback - so will GE and Jeff Immelt look like brain surgeons?
If there is any truth to this deal....it will put the pressure on competitors to get their acts together and look for opportunities to grow their businesses - only further supporting M&A activity. Investors want to see companies do something with all that cash that is burning a hole in their pockets....and if they don't do something exciting then they need to start giving it back in the form of dividends and more corp re-purchases......Did someone say - APPLE?
US futures remain higher.....US manufacturing yesterday did report a healthy expansion of 55.4 - today we will get Durable Goods exp of +2%, ex transports of +0.6%, Cap Goods shipped exp of 1% and Cap Goods Ordered of 1.5%, Init jobless claims of 315k - taking us that much closer to a print in the 2's.....and finally Kansas City Fed - exp of 8.
Earnings will continue to roll out with AA, KO, Noble Energy, NU, DR Horton, WMX, Royal Caribbean, Jet Blue and GM....to name just a few.
HFT continues to be in the spotlight with a Convergex Group institutional survey showing that 2/3rds of mkt participants (institutional) say that US equity mkts are NOT FAIR for all. 51% say that HFT is detrimental to the US capital mkts.... and that was just in NY....think what the rest of the country has to say......
Overnight Asian mkts mixed. ....earnings concerns and exhaustion being the key drivers...Japan -0.97%, Hong Kong +0.24%, China -0.50% and ASX +0.24%.
In Europe today - mkts are higher......better than expected earnings causing a broad based rally - all sectors enjoying the spotlight. Tech the highlight after the Apple & FB news..... FTSE +0.7%, CAC 40 +1.05%, DAX +0.83% EUROSTOXX +0.83%, SPAIN +0.58% and Italy +0.93
For this you need - 2 tablespoons all-purpose flour, plus more for dusting, readymade pie crust, 2 Granny Smith apples, peeled, cored, and sliced, 3/4 cup sugar, plus additional for pie top, Zest and juice of 1 lemon, 1 1/2 teaspoons cinnamon, 1/2 teaspoon nutmeg,2 tablespoons unsalted butter, 1 large egg, beaten
Preheat your oven to 375 degrees.
Roll out the pie crust - on a floured surface. - lightly butter the pie dish - and then place one of the dough's into the pie plate.
In a large bowl - mix apples, sugar, lemon zest and juice, spices, and flour. Toss well. Pout the mix into pie pan. - always add a bit of butter....and then take the other half of the pie crust and cover the pie. Using your thumb and forefinger - make a 'ribbon' by crimping the edge. Using a butter knife - cut 2 or 3 vents into the top.
Brush the top with the beaten egg, and finish by sprinkling a bit of sugar on top.
Place in oven and bake for about 45 mins or so....You want a nice golden brown crust - remove and let cool. Serve with your favorite vanilla ice cream.
Enjoy.
Apple 'blows the doors off the bus' - iPhones sales exploding off the shelves - Profits +7% yoy - per share earnings +15% at $11.62/sh vs. $10.18/sh estimate. (Note - corp repurchase in place has reduced the shares outstanding thus increasing earnings per remaining shares) - Gross margins rise to 39.3% from 37.5%...
And the bells keep ringing.....Next - they announced an increase of an additional $30 bil in the corp buyback program, a 7 for 1 stock split (which will take the stock to about an $80/sh value post split - allowing for more individual investors to 'buy in') and an 8% increase in its annual dividend - traders celebrate by taking the stock up 8% in post mkt trading.... and this morning the stock continues to trade in the $564/sh range. And China? They did NOT disappoint Apple at all.....Revs in that part of the world +13% - so what is everyone worried about in China? Clearly - all of that doom and gloom is misplaced....China is not imploding as evidenced by this latest report.
FaceBook - Yup......triples its profits on a 72% increase in revenues - blowing right past analyst estimates....Ad sales fueling this dramatic increase establishing it as a 'digital advertising powerhouse'.........Shares up 4% in post mkt trading and remain there in early pre-mkt trading....
"Discount Brokerages See Bounce in Trading -TD Ameritrade and E-Trade reports large jumps in volume in 1st Q" -
30% and 33% respectively... here we go.....more mobile trading tech, lack of alternatives due to zero interest rates, and strong mkt gains all making 'Joe Q Public' feel invincible... Gabe Mercer - 22 yrs old - sums it up perfectly - "It seems like a great time to be in the market" - he took $500 and made a few trades and now hopes to become a 'full time trader one day'. OH - how history has a way of repeating itself.....does DOT COM mean anything?
Now yes - stocks took a breather yesterday.....using the soft housing sales report as something of an excuse - but pay no attn to weaker housing sales.....Aunty Janet will not disappoint - she knows how important housing is to the 'recovery' and while everyone expects her to take another $10 bil off the table next week - they also expect that she will remain 'accommodative' by keeping the zero interest rate policy in place. As we know - this will keep any correction at bay.
Now - we are heading into a typically weak period....I say typical - but in reality - is typical really typical any longer? That old adage of "Sell in May and go Away" may not be the best advice this time around.....If we break out to the upside - will we just keep going? Certainly feels like it....This mkt just does not want to go down - nor will the FED allow it - continuing to confound even the best minds.
As discussed the past couple of days - M&A activity is erupting around the world....we have seen 4 deals in the past 3 days and last night - CNBC and Bloomberg both report that GE is in talks to write a $13 bil check for Alstom - the French manufacturer of trains and power plants - now everyone denies this story...but remember - 'where this is smoke - there is fire'......
The deal highlights the opportunity..... Alstom has been struggling during the GFC due to the sluggish recovery in Europe, as well as 'unenthusiastic' demand from the emerging markets. Recently though - Europe appears to be making a comeback - so will GE and Jeff Immelt look like brain surgeons?
If there is any truth to this deal....it will put the pressure on competitors to get their acts together and look for opportunities to grow their businesses - only further supporting M&A activity. Investors want to see companies do something with all that cash that is burning a hole in their pockets....and if they don't do something exciting then they need to start giving it back in the form of dividends and more corp re-purchases......Did someone say - APPLE?
US futures remain higher.....US manufacturing yesterday did report a healthy expansion of 55.4 - today we will get Durable Goods exp of +2%, ex transports of +0.6%, Cap Goods shipped exp of 1% and Cap Goods Ordered of 1.5%, Init jobless claims of 315k - taking us that much closer to a print in the 2's.....and finally Kansas City Fed - exp of 8.
Earnings will continue to roll out with AA, KO, Noble Energy, NU, DR Horton, WMX, Royal Caribbean, Jet Blue and GM....to name just a few.
HFT continues to be in the spotlight with a Convergex Group institutional survey showing that 2/3rds of mkt participants (institutional) say that US equity mkts are NOT FAIR for all. 51% say that HFT is detrimental to the US capital mkts.... and that was just in NY....think what the rest of the country has to say......
Overnight Asian mkts mixed. ....earnings concerns and exhaustion being the key drivers...Japan -0.97%, Hong Kong +0.24%, China -0.50% and ASX +0.24%.
In Europe today - mkts are higher......better than expected earnings causing a broad based rally - all sectors enjoying the spotlight. Tech the highlight after the Apple & FB news..... FTSE +0.7%, CAC 40 +1.05%, DAX +0.83% EUROSTOXX +0.83%, SPAIN +0.58% and Italy +0.93
Apple Pie (And Vanilla Ice Cream)
Who doesn't love Apple Pie and Vanilla Ice Cream?For this you need - 2 tablespoons all-purpose flour, plus more for dusting, readymade pie crust, 2 Granny Smith apples, peeled, cored, and sliced, 3/4 cup sugar, plus additional for pie top, Zest and juice of 1 lemon, 1 1/2 teaspoons cinnamon, 1/2 teaspoon nutmeg,2 tablespoons unsalted butter, 1 large egg, beaten
Preheat your oven to 375 degrees.
Roll out the pie crust - on a floured surface. - lightly butter the pie dish - and then place one of the dough's into the pie plate.
In a large bowl - mix apples, sugar, lemon zest and juice, spices, and flour. Toss well. Pout the mix into pie pan. - always add a bit of butter....and then take the other half of the pie crust and cover the pie. Using your thumb and forefinger - make a 'ribbon' by crimping the edge. Using a butter knife - cut 2 or 3 vents into the top.
Brush the top with the beaten egg, and finish by sprinkling a bit of sugar on top.
Place in oven and bake for about 45 mins or so....You want a nice golden brown crust - remove and let cool. Serve with your favorite vanilla ice cream.
Enjoy.
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