Economic Updates
Apple exceeds Wall Street expectations
Apple Inc. reported financial results for its fiscal 2022 second quarter after the closing bell on Wall Street on Thursday. World’s largest company beat both revenue and earnings per share estimates. Total revenue reported at $97.278 billion in the quarter (a 9% percent year-over-year) vs. $94.034 billion expected. Earnings per share at $1....
Amazon falls short in Q1
Amazon.com Inc. announced its first quarter results after the market close in the US on Thursday, falling short of Wall Street analyst expectations. The US online retailer reported revenue of $116.444 billion in the quarter vs. $116.45 billion estimate. Analysts were expecting earnings per share of $8.35 a share in Q1, however, the company re...
McDonald’s delivers in Q1
McDonald's Corp. reported its Q1 financial results before the opening bell over in the US on Thursday. World’s biggest fast food company reported revenue of $5.666 billion in the quarter, beating analyst forecast of $5.57 billion. Earnings per share also topped analyst estimates at $2.28 per share vs. $2.17 per share expected. "In a quar...
Microsoft Earnings impress after strong revenue from its cloud system
Technology leader Microsoft has released its quarterly report beating analysts’ expectations. The company's balance sheet and price surge were largely driven by strong revenue in its cloud computing Azure unit but was well supported by its other service areas. The results for the company's third quarter showed a double-digit growth figure with re...
RBA rate day well in play after record CPI print
Going into yesterday's Aussie Inflation figures bond markets were pricing in around a 40% chance of a hike to 0.25% at next Tuesdays RBA May meeting. Most pundits including analysts at the big 4 banks thought this unlikely, with a move in June their predictions. Yesterday's eye watering CPI figure, took the market by surprise coming in at 2.1% f...
Visa crushes Wall Street estimates
Visa Inc. announced its fiscal second quarter 2022 results after the closing bell on Wall Street on Tuesday. The financial services giant topped both revenue and earnings per share estimates, sending the share price higher on Wednesday. The company reported revenue of $7.189 billion in the quarter vs. $6.833 billion estimate. Earnings per ...
Musk’s future for Twitter
<p style="margin: 0in;"><span lang="EN-AU" style="color: #0e101a;">The future of the large-cap tech giant and social media platform, Twitter, will be one to watch closely after the Board approved tech billionaire and Tesla CEO, Elon Musk's offer to buy the company. The question remains, is this a positive move for the company and its mo...
Coca-Cola tops Wall Street expectations in the first quarter
The Coca-Cola Company reported its latest financial results for the first quarter of the year before the Wall Street opening bell on Monday. World’s largest beverage producer reported revenue of $10.491 billion in the first quarter, surpassing analyst estimates of $9.832 billion. Earnings per share reported at $0.64 per share, also above an...
Macquarie’s recent $3.5 billion sale to AustralianSuper and Singtel
AustralianSuper and Singtel’s company, Australian Tower Network (ATN), has recently won the auction for Axicom. Early this month, Macquire’s Axicom was looking for buyers and had settled for ATN. Shareholders from both ATN and Axicom signed the $3.5 billion deal early this month. The deal would allow ATN to add around 2000 of Axicom’s ...
Netflix plumets 25% after hours after hours after disappointing quarterly results.
US streaming giant Netflix (NFLX) has seen its share price fall spectacularly after regular trading hours as the market released poor quarterly results. The concern for the company and the market concern is the first loss of subscribers in a decade. NFLX’s user base dropped by 200,000 and is expected to drop further by 2 million in the next pe...
Netflix takes a dip
Netlfix Inc. reported its latest financial results after the closing bell on Wall Street on Tuesday. The online streaming service company reported revenue just shy of analyst estimates at $7.868 billion in the first quarter vs. $7.929 billion expected. Earnings per share topped expectations at $3.53 per share vs. $2.90 per share expected. ...
Coal prices soar as Australian Coal miners reach 52-week highs
Coal prices have spiked in recent times due to the energy crunch that has developed in Europe relating to pressures from Russia and Ukraine. Australian Coal companies have been the big beneficiaries of the rise in prices. White Haven Coal (WHC) and New Hope Corporation (NHC) have seen bullish price moves and are currently trading near their 52-week...
Best-Performing Stocks: April 2022
It's been a volatile stretch for the stock market. From pandemic-induced sell-offs, record highs in 2021 and a bumpy start to 2022, the market has certainly tested investors' mettle. But when looking for the best stocks, investors should consider long-term performance, not short-term volatility. To help with that, we've compiled the best 5 stocks i...
Where to next for Magellan Financial?
Magellan Financial Group (MFG) has seen a tumultuous 12 months in which the share price has seen a large fall from grace. The large Australian managed funds company has had a myriad of bad announcements and bad news. Resignation from key members of its leadership team and an exodus of cash outflows from investors have caused a large drop in price...
JPMorgan Q1 results announced
JPMorgan Chase & Co. reported its latest financial results for Q1 before the opening bell on Wall Street on Wednesday. World’s largest bank reported revenue of $30.717 billion in the quarter, narrowly beating analyst estimate of $30.59 billion. Earnings per share fell short of Wall Street expectations at $2.63 per share vs. $2.72 per sh...