The Euro is still hovering around the 1.405-1.415 level, but is down slightly on EU comments over Greek default despite a second bailout.Comments »
Monthly Archives: July 2011
All of the smart money is selling now, or poolside, following a spate of earnings reports.
S&P furs are 5.4 below fair value.
Flash: Intel prelim $0.59 vs $0.51 Capital IQ Consensus Estimate; revs $13.1 bln vs $12.82 bln Capital IQ Consensus Estimate
Intel sees Q3 non-GAAP revs $13.6-14.6 bln vs $13.45 bln Capital IQ Consensus Estimate; non-GAAP gross margin of 65% +/- a couple percentage pointsComments »
Flash: eBay prelim $0.48 vs $0.46 Capital IQ Consensus Estimate; revs $2.8 bln vs $2.61 bln Capital IQ Consensus Estimate
Reports Q3 (Jun) earnings of $0.97 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.91; revenues rose 26.1% year/year to $290.7 mln vs the $290.7 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.97-0.99 vs. $0.98 Capital IQ Consensus Estimate; sees Q4 revs of $307-312 mln vs. $309.62 mln Capital IQ Consensus Estimate. “Strong sales in APAC and Japan, in particular of our high-end products, accounted for most of the revenue growth during the quarter… EMEA revenue was down from the prior quarter, and Americas revenue was up only slightly, due in part to a slowdown in U.S. Federal sales… With the rollout of these new products and a number of others over the coming year, we continue to believe that our competitive position in the traditional ADC market has never been stronger, and that the opportunity to expand our footprint in adjacent markets has never been greater. As a result, we remain confident in our ability to sustain top-line growth and profitability by continuing to expand our reach into new and existing markets and by hiring and retaining the best people.”Comments »
Full steam ahead.Comments »
Water utilities rejoice…
(CNN) — The dangerous heat wave blamed for as many as 13 deaths spread into the eastern United States on Wednesday, extending its reach across nearly half the U.S. population, officials said.
About 141 million people in a 1 million-square-mile area were under heat advisories and warnings, Justin Kenney, spokesman for the National Oceanic and Atmospheric Administration, tweeted.
The National Weather Service said “temperatures in the mid-90s will be possible across the mid-Atlantic states today. High temperatures will near 100 degrees tomorrow across much of the mid-Atlantic and parts of the Southeast. These triple-digit temperatures are forecast to remain in place across the eastern U.S. through Saturday before cooling off slightly to the mid-90s by Sunday.”
While it is unclear how many deaths will ultimately be blamed on the heat, the National Weather Service said 13 fatalities were “potentially related to the heat wave in the Midwest.”
WASHINGTON – The bipartisan Senate plan — which in a span of 24 hours has emerged as the leading proposal to lift lawmakers out of their debt-ceiling quagmire — is now running into doubts about whether there’s enough time or consensus to move forward on it.
Members of both parties made clear Wednesday that they weren’t yet sold on the idea put forth by the “Gang of Six” to curb spending even though aides reported that 30 senators had signed on already.
Some Republicans claimed to be holding out hope for the plan they passed out of the House Tuesday evening to cut and cap federal spending and push a balanced-budget amendment in exchange for a debt-ceiling increase.
“In case Senator Reid didn’t notice, a bipartisan ‘Gang of 234’ just sent him the way forward,” Rep. Jim Jordan, R-Ohio, chairman of the Republican Study Committee, said in reference to the House bill vote. “This is the only plan that can fundamentally solve our debt problem.”