The Mooch Emerges, Plans to Hold Facebook Live Event to Defend His Honor

In a CNN exclusive, Chris Cuomo said Anthony Scaramucci will hold a Facebook live event on Friday, in order to defend his honor. According to Cuomo, The Mooch feels the media has unfairly maligned him and he wants to set the record straight.

In regards to his brief term at the White House, he says it was a success — comparing himself to a ‘special purpose vehicle’ (SPV) whose sole purpose was to clear the decks and vanquish the west wing of leakers and “disrupt the culture of leaking and counterproductive infighting”. Aside from Steve Bannon still sucking his own cock inside the White House, Scaramucci considers his time with Trump a success.

Huffington Post had some color on the events that led up to Scaramucci’s departure.

As soon as Scaramucci returned from Wednesday night’s dinner, he called Lizza and gave his now-infamous interview, published Thursday, in which he suggested that former White House Chief of Staff Reince Priebus was a “paranoid schizophrenic” and that White House chief strategist Steve Bannon practiced auto-fellatio.

Scaramucci said he felt burned by the interview. “The Lizzas and Scaramuccis have been friends for over 50 years. My dad knew his dad from construction, and we were building a personal relationship. Most of what I said was humorous and joking. Legally, it may have been on the record, but the spirit of it was off. And he knew that.”

Still, Scaramucci told me, he has plans to take Lizza out for a beer.

When I asked Lizza for his response, he wrote back: “I’ve only known Anthony in his capacity as a Trump surrogate and then White House communications director. We are not and have never been ‘old family friends,’ though I think our fathers knew each other, so maybe that’s what he’s talking about. (The Long Island Italian world in that generation is relatively small.) But again, that would not be a reason to suppress an explosive on-the-record interview.”

But on Monday morning, Scaramucci knew he was cooked. Retired Marine Gen. John Kelly, the new chief of staff, who insisted that all White House staff report to him, asked for his resignation. “It was a very polite conversation,” Scaramucci says.

Scaramucci then went to see Trump, who was unavailable. He ended up speaking with the president, his daughter Ivanka Trump and his son-in-law, Jared Kushner, separately later in the day by telephone. All were gracious, he said. “The president told me he knows I have his back, but he has to try to tighten the ship.”

So what are you going to do next, I asked him.

“I am now going to go dark,” he said.

And then?

“Then I will reemerge.” He paused. “As me.”

SAD!

Goldman’s basket of 50 S&P 500 stocks with a high percentage of international sales has climbed 18 percent this year, versus 7 percent gains for Goldman’s basket of stocks with domestically-generated sales. The S&P 500 has risen 10.5 percent this year.

In the Tuesday report, the analysts announced 10 changes to the outperforming group.

In addition to Boeing and Tiffany, the Goldman analysts added two health care stocks, life sciences products manufacturer Danaher and laboratory instruments manufacturer Mettler-Toledo International, to the international sales basket of stocks.

Other stocks the analysts added were Wynn Resorts, risk management firm Aon, International Flavors & Fragrances, perfume giant Coty, energy extraction products and services firm TechnipFMC and semiconductor company KLA-Tencor.

Existing members of the 50-stock basket include United Technologies, Newmont Mining, Priceline, McDonald’s and Aflac.

The median percentage of overseas sales for a stock in the international sales basket is 71 percent, versus a median of 27 percent of non-U.S. sales for the S&P 500, the report said.

A weaker U.S. dollar makes U.S.-produced goods cheaper for overseas buyers, helping sales.

In the first quarter, 41 percent of S&P 500 firms beat the consensus sales estimate by at least one standard deviation, the highest level in six years, the Goldman report said.

“We estimate that a 10% decrease in the trade-weighted US dollar relative to our baseline expectation should boost S&P 500 EPS by $3/share,” the analysts said.

Sensitivity of S&P 500 earnings per share to U.S. dollar, as of July 28, 2017

Goldman’s currency strategists expect the U.S. dollar to recover some of its strength, but forecast limited gains. They attribute U.S. dollar weakness to better growth outside the U.S. and softer-than-expected inflation.

The weaker U.S. dollar has also affected sales for European stocks with exposure to the United States, the report said.

Goldman said its basket of European stocks with the highest share of U.S. sales has fallen 2 percent this year, while its selection of European stocks with high exposure to that continent have climbed 10 percent.

The euro has contributed significantly to the weakness in the U.S. dollar. On Wednesday, the euro hit a high of $1.1909, its highest against the U.S. dollar since Jan. 2015.

“The euro’s strength is surely partly a reflection of US dollar weakness, but it is also a reflection of the improved sentiment among investors” due primarily to the defeat of the populist party in France, Marc Chandler, chief currency strategist at Brown Brothers Harriman, wrote in a blog post Tuesday.

That said, Goldman expects the dollar to strengthen against the Japanese yen, British pound sterling and the Chinese yuan in the next 12 months. “A stronger dollar represents a potential headwind to firms with the highest sales exposure to these regions,” the report said.

Stocks the report said could be affected include Applied Materials, Advanced Micro Devices, KLA-Tencor, Lam Research and Xilinx.

Stephen Miller destroyed two reporters today, who may not recover. His first victim was the NY Times Glenn Thrush. The second, and most severely battered, was CNN’s Jim Acosta — who accused Trump’s new English requirement for immigrants as a racist policy meant to import gents from Great Britain and Australia.

The result of his comments was a furious and energetic verbal thrashing, calling out Jim for having a shockingly ignorant ‘cosmopolitan bias’. This is one for the ages.

Cosmopolitan Jim Acosta and his chic friend, Huma Abedin

Enjoy.

Short version

CNN's Jim acosta has been destroyed by Stephen Miller for being an ignorant cosmopolitan pic.twitter.com/RbFzvBBqJY

— The_Real_Fly (@The_Real_Fly) August 2, 2017

Full version

The Chief White House correspondent for the NY Times, Glenn Thrush, was utterly and vigorously humiliated today — by Trump’s senior policy advisor, Steven Miller.

NY Times Chief White House Correspondent, Glenn Thrush, lost his hat today

‘Maybe it’s time we had compassion for American workers, Glenn.’

This was a vicious beatdown. Glenn Thrush should resign from his post and live out the rest of his days tending to transgender goats in the green fields of Romania.

KLIC makes gold wire bonding for semiconductors and is considered to be a forward looking indicator for the entire sector. I don’t have time to dig through old articles now, but trust me when I tell you this isn’t the first time a KLIC shortfall brought down the entire semiconductor space. I recalls several years ago, maybe 2010 or 2011, a warning out of KLIC caused a full fucking chimp out in the tech sector.

More or less, we’re getting some weakness today thanks to both KLIC and MTSI earnings disappointments.

KLIC

Reports Q3 (Jun) earnings of $0.62 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $0.68; revenues rose 12.7% year/year to $243.9 mln vs the $245.02 mln Capital IQ Consensus.
Gross margin of 45.8%.

Co issues upside guidance for Q4, sees Q4 revs of $200-215 mln vs. $193.60 mln Capital IQ Consensus Estimate.
“We continue to benefit from the strong industry environment, improved market dynamics and new opportunities in our core business and expanding portfolio. In parallel, we remain focused on further enhancing exposure and alignment to several other meaningful near and long-term opportunities.”

MTSI

M/A-COM Tech: Stifel sees downside reaction as overdone; tgt cut to $57 from $64 (61.06)
Stifel notes that MTSI is indicated down over 20% and they believe the reaction is overdone. Firm says while MACOM continues to cite many opportunities that support its long-term target model, the near-term continues to be impacted by weakness out of China, which is causing significant headwinds to its PON, long-haul/metro and backhaul/OTN businesses. Despite this persistent cyclical weakness, the firm is however encouraged by the strength outside of China, especially in Japan and No. America and in particular its Data Center business, which continues to exceed expectations and is poised for further growth. They also highlight several other strategic and secular growth opportunities still yet to ramp meaningfully (GaN, 100G, Active Antenna and DC), which helps support its ability to achieve its target model of ~20% growth in FY18, with improving GMs and overall profitability. Firm cuts their tgt to $57 from $64.

I am heading out now. But what you want to pay attention to next is the application software sector. It is weak today and not looking sporty. Should that sector fail, the entire market will follow suit — just like in early 2014.

Here’s a look at the semis.

Regarding the application software sector, keep a close eye on CRM, WDAY, SHOP, VEEV and DATA.

UPDATE: I found a note I left in Exodus, dated 10/7/10. You can go see for yourselves what that warning did to the semis that day.

All of the dollarfags were rejoicing after the election — as the dollar roared higher alongside the market. It made no sense to see this, since we’re largely reliant upon exports to further our financial hegemony.

Lo and behold, after Trump talked the dollar down — praising the undervalued nature of the euro back in January — the dollar has been on a ruinous path to hell.

Here’s the US dollar index.

And here is the Euro crushing the souls and the American spirit, embedded in the US dollar.

A weaker dollar is supposed to promote greater exports — and stronger commodities. Thus far, we haven’t seen the silver lining of all this dollar chicanery, only the onerous effects it imposes on the aristocracy as they saunter overseas for their summer vacations.

Leftists are going to go Congo apeshit over this one — while speaking English. In an obvious act of racism, exerting his white male power, President Trump rolled out a new plan that rewards people based on skills — including speaking English.

He also noted they would not be accepting welfare applicants from these newly minted, English speaking, foreign gents.

Watch and cry.

Surprise, surprise — the Chinese got left holding the bag again.

Look who blew up at the Box office.

Why aren’t you mentally addled drunkards visiting the theatre anymore? They’ve got those new leather seats from which you could gobble down all of that buttery popped corn from. There are shows like Dunkirk and The Emoji movie, even Cars 3 (extra Chick Hicks) for you to enjoy.

Apparently, America is too transfixed on the only real show that counts — the Blahnald Drunpfkin minstrel series, starring Steve Bannon.

Shares of AMC are getting hammered — taking it with the entire movie business — straight down the drain.

Sees Q2 EPS ($1.34-1.36) vs $0.01 Capital IQ Consensus Estimate; revs $1200-1204 mln vs $1.25 bln Capital IQ Consensus. The Company expects to report a net loss for the second quarter of 2017 of between $178.5 million and $174.5 million compared to net earnings of $24.0 million for the second quarter of 2016. Included in the net loss for the second quarter of 2017 is a $202.6 million pre-tax impairment charge related to AMC’s National CineMedia (NCMI) investment. As previously disclosed on SEC Form 10-Q for the three-month period ended March 31, 2017, because the market value of our investment in NCM further declined significantly below our carrying value, the decline in value is considered other than temporary. Due to the significant decline in value of the publicly quoted price per share of NCM, Inc., this impairment charge was recorded for all the units and shares owned in NCM.

AMC’s results also reflect industry box office trends. The North American industry box office for second quarter ended June 30, 2017, which includes Canada, decreased approximately 3.3%, and the U.S. industry box office declined approximately 4.4%, compared to the same period in 2016. European box office trends improved in the countries served by AMC, growing by a double-digit percentage year-over-year. That growth did not produce as big a benefit as it might have otherwise, because the second quarter is seasonally often the smallest quarter of the year.

Restructuring: Against the U.S. industry backdrop of a weaker than anticipated second quarter and estimates for a very challenging third quarter, the Company has embarked on a domestic cost reduction and revenue enhancement plan to better align operating expenses with theatre attendance in its markets and reduce general and administrative costs for the balance of 2017 and into 2018. The company expects to achieve at least a $30 million adjusted EBITDA contribution from cost savings and revenue enhancements through the end of 2017 which will include strategic pricing, promotional incentives, adjusting scheduling practices, reductions in operating hours, staffing levels, and additional general operating expense line items. The cost reduction initiatives affect both the Theatre Support Center based in Leawood, Kansas and AMC’s domestic theatre locations.

AMC is at its lowest point since coming public in 2014 and IMAX is at 2012 levels.

Just because a handful of stocks, led by Apple, steered the market above Dow 22,000 — Drudge Report made it his top headline.

Meanwhile, everything else is falling apart — led by tech.

My Bubble Basket is lower by 1.94% and almost nothing is immune to the selling today.

Market breadth is at 23%. Stop celebrating Dow 22,000.