Top 10 News Items 4/23-4/27: Apple Crushes Q2 Estimates; Amazon Shares Surge 16% on Q1 Beat; Q1 GDP Worse Than Expected
Tweet
Share
E-mail
Get Alerts AAPL Hot Sheet
Price: $172.69 --0%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
Join SI Premium – FREE
Here is a recap of the top news items from this week on Wall Street:
1. Amid positive sessions in the broader stock market four out of five days this week, Apple (Nasdaq: AAPL) shares closed higher only once this week despite absolutely blowout second-quarter results. The stock closed nearly 9 percent higher on Wednesday, but fell more than 1 percent to end this week's session. The maker of the iPad and iPhone said earnings came in at $12.30 per share, much better than the $10.06 the Street was expecting. Sales totaled $39.2 billion, compared to the analyst estimate of $36.81 billion.
2. Elsewhere in Techland, shares of Amazon.com (Nasdaq: AMZN) surged a whopping 16 percent on Friday as the company reported first-quarter EPS of 28 cents on sales of $13.2 billion. The Street was expecting earnings of just 7 cents per share on sales of $12.9 billion. Amazon is looking for second-quarter sales of $11.90-$13.3 billion, versus the consensus of $12.82 billion, and an operating loss of $260 to operating profit of $40 million.
3. The first reading on first-quarter economic growth in the US came in up 2.2 percent Friday morning, worse than the 2.5 percent expected by economists. The final fourth-quarter 2011 reading was 3 percent growth. Stocks were relatively quiet amid the economic data. The Dow closed Friday's session up just over 23 points.
4. S&P downgraded its credit rating on Spain Thursday afternoon. The rating is now BBB+, down from A previously. The outlook on the long-term rating remains Negative.
5. Ford (NYSE: F) shares fell 2 percent on Friday following first-quarter earnings of 39 cents per share on sales of $32.4 billion. Analysts were anticipating EPS of 36 cents and $31.5 billion. The automaker said total unit sales fell 45,000 to 1.358 million.
6. Netflix (Nasdaq: NFLX) reported a first-quarter loss of 8 cents per share on sales of $870 million on Monday of this week. Analysts were looking for a loss of 27 cents per share on sales of $868.07 million. Netflix said it is looking for a second-quarter loss of 10 cents to a gain of 14 cents per share on sales of $873-$895 million, both below the Street. Shares fell 4 percent on Monday ahead of the results, and another 14 percent on Tuesday. The stock traded lower for the remainder of this week's days, adding another 4.5 percent to the decline.
7. The Federal Reserve maintained its key interest rates this week and pointed to labor market conditions which have continued to improve and housing and business spending which has also continued to advance. Click here to see the full statement. AT the press conference following the FOMC statement release, Ben Bernanke said the Fed remains "prepared to do more." Stocks rallied amid the comment.
8. Other major names reporting this week: Texas Instruments (NYSE: TXN), 3M (NYSE: MMM), Juniper (Nasdaq: JNPR), Panera (Nasdaq: PNRA), Baidu (Nasdaq: BIDU), Caterpillar (NYSE: CAT), UPS (NYSE: UPS), Expedia (Nasdaq: EXPE), Starbucks (Nasdaq: SBUX), Western Digital (NYSE: WDC), Las Vegas Sands (NYSE: LVS), Boeing (NYSE: BA), P&G (NYSE: PG), AT&T (NYSE: T) and Exxon (NYSE: XOM).
9. Coca-Cola's (NYSE: KO) Board recommended a 2-for-1 stock split this week, what will be the company's eleventh in its long history. A split would put shares of Coke around $38 based on Friday's close.
10. Facebook (Nasdaq: FB) confirmed it will list on the Nasdaq exchange this week, also offering some updated financial info. First-quarter sales were $1.058B, up from $731M. Net income $205M down from $233M. Diluted EPS came in at 9 cents, from 11 cents last year.
1. Amid positive sessions in the broader stock market four out of five days this week, Apple (Nasdaq: AAPL) shares closed higher only once this week despite absolutely blowout second-quarter results. The stock closed nearly 9 percent higher on Wednesday, but fell more than 1 percent to end this week's session. The maker of the iPad and iPhone said earnings came in at $12.30 per share, much better than the $10.06 the Street was expecting. Sales totaled $39.2 billion, compared to the analyst estimate of $36.81 billion.
2. Elsewhere in Techland, shares of Amazon.com (Nasdaq: AMZN) surged a whopping 16 percent on Friday as the company reported first-quarter EPS of 28 cents on sales of $13.2 billion. The Street was expecting earnings of just 7 cents per share on sales of $12.9 billion. Amazon is looking for second-quarter sales of $11.90-$13.3 billion, versus the consensus of $12.82 billion, and an operating loss of $260 to operating profit of $40 million.
3. The first reading on first-quarter economic growth in the US came in up 2.2 percent Friday morning, worse than the 2.5 percent expected by economists. The final fourth-quarter 2011 reading was 3 percent growth. Stocks were relatively quiet amid the economic data. The Dow closed Friday's session up just over 23 points.
4. S&P downgraded its credit rating on Spain Thursday afternoon. The rating is now BBB+, down from A previously. The outlook on the long-term rating remains Negative.
5. Ford (NYSE: F) shares fell 2 percent on Friday following first-quarter earnings of 39 cents per share on sales of $32.4 billion. Analysts were anticipating EPS of 36 cents and $31.5 billion. The automaker said total unit sales fell 45,000 to 1.358 million.
6. Netflix (Nasdaq: NFLX) reported a first-quarter loss of 8 cents per share on sales of $870 million on Monday of this week. Analysts were looking for a loss of 27 cents per share on sales of $868.07 million. Netflix said it is looking for a second-quarter loss of 10 cents to a gain of 14 cents per share on sales of $873-$895 million, both below the Street. Shares fell 4 percent on Monday ahead of the results, and another 14 percent on Tuesday. The stock traded lower for the remainder of this week's days, adding another 4.5 percent to the decline.
7. The Federal Reserve maintained its key interest rates this week and pointed to labor market conditions which have continued to improve and housing and business spending which has also continued to advance. Click here to see the full statement. AT the press conference following the FOMC statement release, Ben Bernanke said the Fed remains "prepared to do more." Stocks rallied amid the comment.
8. Other major names reporting this week: Texas Instruments (NYSE: TXN), 3M (NYSE: MMM), Juniper (Nasdaq: JNPR), Panera (Nasdaq: PNRA), Baidu (Nasdaq: BIDU), Caterpillar (NYSE: CAT), UPS (NYSE: UPS), Expedia (Nasdaq: EXPE), Starbucks (Nasdaq: SBUX), Western Digital (NYSE: WDC), Las Vegas Sands (NYSE: LVS), Boeing (NYSE: BA), P&G (NYSE: PG), AT&T (NYSE: T) and Exxon (NYSE: XOM).
9. Coca-Cola's (NYSE: KO) Board recommended a 2-for-1 stock split this week, what will be the company's eleventh in its long history. A split would put shares of Coke around $38 based on Friday's close.
10. Facebook (Nasdaq: FB) confirmed it will list on the Nasdaq exchange this week, also offering some updated financial info. First-quarter sales were $1.058B, up from $731M. Net income $205M down from $233M. Diluted EPS came in at 9 cents, from 11 cents last year.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bank of America (BAC) Tops Q1 EPS by $0.07, Beats on Revenue
- Bank of America meets earnings estimates, beats revenue expectations in Q1 2024
- Main Street Capital (MAIN) Reports Prelim Q1 Results
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Ben S. Bernanke, Federal Open Market Committee, Standard & Poor's, StreetInsider.com Top 10 News Items for the Week, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
