BlackBerry released its latest earnings report before opening bell this morning, posting an adjusted result that’s approaching breakeven. The struggling smartphone vender reported non-GAAP losses of 3 cents per share and revenue of $557 million, representing strong beats not only on the bottom line but the top line as well. Analysts had been expecting losses…
OVERNIGHT MARKETS AND NEWS March E-mini S&Ps (ESH16 -0.43%) are down -0.43% and European stocks are down 1.18% as energy producer companies decline after the price of crude oil (CLF16 -0.80%) drops -1.34% to a new 6-3/4 year low and natural gas prices slump -0.57% to a fresh 16-1/2 year low as increased production and above-normal U.S. winter temperatures boosts supplies. Asian stocks…
The problems with old pillars of the market is they gradually crumble, most especially when the primary props are progressively withdrawn, weakening the pillars ‘as if’ they were salt. The churning of markets seems biblical relative to a majority of distribution patterns (all year long); with perhaps the outcome also of a biblical recollection (like…
Arguably the biggest event overnight was yesterday’s BOJ announcement which was widely expected to be non-event, yet ended up being anything but, when, as expected, the Bank of Japan did announce it would keep overall JPY80 trillion monthly QE unchanged, as forecast by 41 of 42 economists, however it also announced it would extend the average maturity of JGB…
Photo Credit: Pete Markham Carnival Corporation (CCL) Consumer Discretionary – Hotels, Restaurants & Leisure | Reports December 18, Before Market Opens Key Takeaways The Q4 2015 Estimize consensus calls for $3.741 billion in revenue and $0.43 in EPS, slightly higher than Wall Street’s estimates Carnival is riding Asian demand for cruise ships as the company expands its…
Ysterday I covered the HYG/JNK proxy and the late fade post-FOMC. Same thing happened Thursday, as HYG plumed back below 80. Often times late day fades like this are caused by margin calls and fund outflows. The Genie seems out of the bottle. In the latest week we saw $5.3bn in outflows from junk (HY) bond…
The Bank of Japan was the fourth major central bank to meet this week. Sweden and Norway kept policy unchanged. The Fed hiked. The BOJ was not expected to do anything. Governor Kuroda surprised the market with largely operational tweaks to what Japan calls Qualitative and Quantitative Easing. Initially, and perhaps with the help of headline…
It used to be that “casual Fridays” and weekend clothing meant one thing: blue jeans. But over the last 10 years, trends have been changing and a new category of casual clothes has been gaining ground against denim, especially for women. This trend has many names with some calling it yoga wear, since it was…
Asian shares slipped on Friday but were still on track for gains in a week which saw the depreciation of the yuan in China and the introduction of the first U.S. interest rate hike in nearly a decade. As of Thursday, China’s yuan has weakened against the dollar for 10 straight sessions, the longest weakening…
Among the fixed income community, this week’s most important number, more so than the pre-telegraphed 25 bps increase in the Fed’s interest rate, was the weekly report of capital flows in and out of bond funds by Lipper/EPFR, which came out moments ago and which following last week’s junk bond fund fireworks involving Third Avenue…
