Top 10 News Items 10/17-10/21: Apple Issues First Qtr. Miss in Years; The End of the Gaddafi Era; EFSF Issues Still Weighing in Europe
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EPS Growth %: -0.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: -0.7%
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Here is a recap of the top news items from this week on Wall Street:
1. Apple (Nasdaq: AAPL) shares tumbled almost 7 percent this week following the company's first quarterly miss in seven years. EPS were $7.05 on revenue of $28.27 billion, both missed views calling for earnings of $7.28 per share on revenue of $29.45 billion. Still, guidance looked strong -- something which Apple does not usually offer its loyal shareholders. Apple expects to report Q1 EPS of $9.30, above the Street estimate of $8.98. Sales are expected to be $37 billion, better than the $36.63 billion expected from analysts.
2. Muammar Gaddafi, Libya's ruler for about 42 years, was killed this week by rebels as the government was overthrown. With backing from NATO, Libyan rebels captured the chief Thursday. Gaddafi, who was originally said to have taken serious injuries to his leg, was later reported as dead, however an official confirming was not given for some time.
3. While the Eurozone seemed relatively quiet this week, concerns still drove stocks. Following rumors the EFSF-related talks are now being focused on buying collateral for guarantees, Germany's Angela Merkel cancelled an EU summit originally scheduled Friday amid a lack of details on the EFSF. Merkel and France's Nicolas Sarkozy will now meet in Brussels on Saturday to discuss the need for new intervention rules for the EFSF and for a comprehensive solution to the Euro crisis. EU officials will also meet on Sunday to discuss where the next step
4. Shares of El Paso (NYSE: EP) surged nearly 25 percent on Monday of this week as Kinder Morgan (NYSE: KMI) announced it will be acquiring the company in a massive $38 billion deal. Kinder Morgan will pay $26.87 per share for the company.
5. Despite reporting a 84 cent per share loss on Tuesday morning, shares of Goldman Sachs (NYSE: GS) rose more than 5 percent on that day. The company posted sales of $3.59 billion. Analysts on the Street had been looking for a loss of 15 cents per share on sales of $4.59 billion.
6. Green Mountain (Nasdaq: GMCR) shares were slammed nearly 30 percent this week following news Einhorn has been shorting the stock. The fund manager disclosed the position at the Value Investing Congress this week. Certainly not helping the situation, Whitney Tilson of T2 Partners also suggested his fund was shorting the stock too. Click here to see several of the points laid out by Einhorn.
7. Intel (Nasdaq: INTC) shares rose 3.6 percent on Wednesday following better-than-expected results on Tuesday night. The company reported Q3 EPS of 69 cents, above the 61 cents the Street was looking for. Sales came in at $14.2 billion, compared to the Street estimate of $13.9 billion.
8. Elsewhere in Earnings Land, GE (NYSE: GE) reported Q3 EPS of $0.31, in-line with the analyst estimate of $0.31. Revenue for the quarter came in at $35.37 billion versus the consensus estimate of $34.94 billion. The stock closed down nearly 2 percent on Friday.
9. AT&T (NYSE: T) issued an inline Q3 this week. Earnings totaled 61 cents while sales missed at $31.5 billion. The Street was looking for $31.62 billion. Trader reaction was somewhat muted as a majority of the holders are likely waiting for more details on the T-Mobile deal.
10. Microsoft (Nasdaq: MSFT) had a (surprise!) lackluster quarter once again this week. On Thursday the tech-giant posted inline EPS of 68 cents. The conference call seemed similarly dismal. The stock finished Friday's session up 0.44 percent.
1. Apple (Nasdaq: AAPL) shares tumbled almost 7 percent this week following the company's first quarterly miss in seven years. EPS were $7.05 on revenue of $28.27 billion, both missed views calling for earnings of $7.28 per share on revenue of $29.45 billion. Still, guidance looked strong -- something which Apple does not usually offer its loyal shareholders. Apple expects to report Q1 EPS of $9.30, above the Street estimate of $8.98. Sales are expected to be $37 billion, better than the $36.63 billion expected from analysts.
2. Muammar Gaddafi, Libya's ruler for about 42 years, was killed this week by rebels as the government was overthrown. With backing from NATO, Libyan rebels captured the chief Thursday. Gaddafi, who was originally said to have taken serious injuries to his leg, was later reported as dead, however an official confirming was not given for some time.
3. While the Eurozone seemed relatively quiet this week, concerns still drove stocks. Following rumors the EFSF-related talks are now being focused on buying collateral for guarantees, Germany's Angela Merkel cancelled an EU summit originally scheduled Friday amid a lack of details on the EFSF. Merkel and France's Nicolas Sarkozy will now meet in Brussels on Saturday to discuss the need for new intervention rules for the EFSF and for a comprehensive solution to the Euro crisis. EU officials will also meet on Sunday to discuss where the next step
4. Shares of El Paso (NYSE: EP) surged nearly 25 percent on Monday of this week as Kinder Morgan (NYSE: KMI) announced it will be acquiring the company in a massive $38 billion deal. Kinder Morgan will pay $26.87 per share for the company.
5. Despite reporting a 84 cent per share loss on Tuesday morning, shares of Goldman Sachs (NYSE: GS) rose more than 5 percent on that day. The company posted sales of $3.59 billion. Analysts on the Street had been looking for a loss of 15 cents per share on sales of $4.59 billion.
6. Green Mountain (Nasdaq: GMCR) shares were slammed nearly 30 percent this week following news Einhorn has been shorting the stock. The fund manager disclosed the position at the Value Investing Congress this week. Certainly not helping the situation, Whitney Tilson of T2 Partners also suggested his fund was shorting the stock too. Click here to see several of the points laid out by Einhorn.
7. Intel (Nasdaq: INTC) shares rose 3.6 percent on Wednesday following better-than-expected results on Tuesday night. The company reported Q3 EPS of 69 cents, above the 61 cents the Street was looking for. Sales came in at $14.2 billion, compared to the Street estimate of $13.9 billion.
8. Elsewhere in Earnings Land, GE (NYSE: GE) reported Q3 EPS of $0.31, in-line with the analyst estimate of $0.31. Revenue for the quarter came in at $35.37 billion versus the consensus estimate of $34.94 billion. The stock closed down nearly 2 percent on Friday.
9. AT&T (NYSE: T) issued an inline Q3 this week. Earnings totaled 61 cents while sales missed at $31.5 billion. The Street was looking for $31.62 billion. Trader reaction was somewhat muted as a majority of the holders are likely waiting for more details on the T-Mobile deal.
10. Microsoft (Nasdaq: MSFT) had a (surprise!) lackluster quarter once again this week. On Thursday the tech-giant posted inline EPS of 68 cents. The conference call seemed similarly dismal. The stock finished Friday's session up 0.44 percent.
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