I get it. I’ve been known to tweet rage myself, calling people a wide variety of derogatory terms. But since politicians love to hold themselves and their people to a higher standard, I thought I’d point out the disheveled nature of a Mr. Favreau, who was so perturbed over Trump calling Obama and Clinton the founders of ISIS, he lost his shit on Twitter and called him a dumb asshole.
Stay Classy Jon.
Comments »
Baltimore is a piece of shit city anyways, Bill.
Miller will always be remembered at iBankCoin, albeit not too friendly.
I am thankful to Legg Mason for our 35-year relationship and to the many great people I’ve worked with along the way,” Miller
Bill was the prototypical bull market money manager. He enjoyed great success while things remained predictable. As soon as the teleprompter was taken away from Bill in 2008, he got his hat eaten by a raving horde of llamas and barely left the Great Recession alive.
During a 2014 interview, Bill discussed how the recession affected him and turned him into a fat fuck, gaining 40 pounds and causing him to endure sleepless nights. Truth is, this business is the worst.
Comments »
The Amazon of China crushed numbers and the stock is rising in kind.
It’s actually unfair to compare them to Amazon, frankly. They’re a cash cow with a real PE of 19, compared to AMZN’s 310. Also, they trade 13x sales, like a high growth tech stock, widely different from AMZN’s 3x sales valuation.
Who knows if these numbers are even legit. There are many skeptics who believe Alibaba is a house of cards, an accounting scandal waiting to happen.
Comments »Reports Q1 (Jun) earnings of $0.74 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of $0.63; rev +59% to $4.84 bln vs. $5.57 bln consensus.
China retail marketplaces revenue was RMB23,383 million (US$3,518 million), an increase of 49% year-over-year; and mobile revenue of China retail marketplaces was RMB17,514 million (US$2,635 million), an increase of 119% year-over-year, representing 75% of our total China retail marketplaces revenue.
Mobile MAUs in June reached 427 million, an increase of 17 million over March 2016, while annual active buyers on our China retail marketplaces increased to 434 million, a net addition of 11 million annual active buyers from the prior quarter.
GMV transacted on our China retail marketplaces was RMB837 billion (US$126 billion), an increase of RMB164 billion (US$25 billion), or 24% year-over-year, with mobile GMV accounting for 75% of total GMV.
Our cloud computing business continued its rapid expansion, with revenue in this quarter increasing 156% year-over-year to RMB1,243 million (US$187 million).
In the June quarter, we repurchased and canceled ~27 million of our shares for US$2.0 billion, and the partners of Alibaba Partnership, acting collectively, purchased US$400 million of our shares, in a transaction with Softbank.
“The acceleration of our revenue growth reflects the deep value propositions that we bring to our customers. We are changing the way our 434 million active buyers engage with our platform, as we introduce social, community and personalization driven by smart data into our e-commerce marketplaces, realizing our vision of ‘Live@Alibaba.’ We are poised for strong profitable growth into the future.” “We delivered excellent results this quarter. The 59% revenue growth for the company overall and the 49% revenue growth of our China retail marketplaces represent the highest growth rates we’ve achieved since our IPO,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We passed an important milestone this quarter in achieving higher monetization of mobile users than non-mobile users for the first time, reflecting the success of our strategy to stay ahead of the curve by embracing mobile.
The company beat earnings, but that’s not the reason why shares are lifting by 14% this morning. The good news for shareholders is that Macy’s will seek to exist in a variety of locales across the country.
In an effort to continue to ‘cost save’ and have more money to buy back stock, they’re closing 14% of their stores, or 100 of them. For each percent of stores they close, the stock rises in tandem. Had they announced 100% of their stores would close and instead they’d become the sentinel from the movie Matrix, the stock might’ve been up 100% this morning. But we’ll take what we can get.
Reports Q2 (Jul) adj. earnings of $0.51 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.48; revenues fell 3.9% year/year to $5.87 bln vs the $5.77 bln Capital IQ Consensus.
Comparable sales on an owned plus licensed basis were down by 2.0 percent in Q2 vs ests closer to -4.5%. On an owned basis, second quarter comparable sales declined by 2.6 percent. The difference between the year-over-year change in total and comparable sales largely resulted from the closing of 41 underperforming Macy’s stores in fiscal 2015.
Co reaffirms guidance for FY17, sees EPS of $3.15-3.40, excluding non-recurring items, vs. $3.26 Capital IQ Consensus; comps down 3-4%.
“We are encouraged by the distinct improvement in our sales and earnings trend in the second quarter. Over the past few months, we have been saying that a setback is a setup for a comeback, and we now believe we are set up well to proceed to a comeback. Our sales strengthened month-by-month throughout the second quarter. This trend improvement gives us confidence in our plans for the back half of the year, and in our strategic planning for improvements to our business model going forward. A number of factors worked in our favor in the second quarter, including a normalized weather pattern, which contributed to a sales lift in our apparel business in particular.
We also saw a smaller decrease in tourist spending during prime summer travel months, supported by strengthened promotional events designed to increase customer traffic and conversion.”
Co intends to close ~100 Macy’s full-line stores (out of a current portfolio of 728 Macy’s stores, including 675 full-line locations). Most of these stores will close early in 2017, with the balance closing as leases and certain operating covenants expire or are amended or waived. In a number of cases, stores will be closed as the value of the real estate exceeds their value to Macy’s as a retail store. The locations of the 100 stores to be closed will be announced at a later date, once the company makes final decisions.
Together, annual sales volume of the ~100 closed locations, net of sales expected to be retained in nearby stores and online, is expected to be roughly $1 billion. The reduction in EBITDA is expected to be offset by expense savings beyond those associated with store closings.
Macy’s will invest in improvements in ongoing stores and digital vehicles. These investments will take a range of forms.
The company continues to pursue opportunities to generate value from its real estate portfolio, consistent with our commitment to stores as a critical element of our long-term omnichannel strategy and balance sheet leverage objectives.
Fantastic. The company will close the stores in an effort to build out its digital store and also generate value from its real estate portfolio. Where have I heard this before (cough: Sears).
Comments »
