Apple's share were down by 7.2% pre market,after the company's FQ2 results missed already low expectations. EPS was $1.90, profit fell to $10.52B from $13.57B, and revenue dropped 13% to $50.6B for Apple's (NASDAQ:AAPL) first sales decline with revenue in Greater China dropping 26%. iPhone volumes fell for the first time, slumping to 51.2M from 61.2. Adding to the woe, Apple CEO Tim Cook gave a weak outlook, although he believes the "future is very bright." The question is whether he's right and the bull run will resume, or has Apple become a normal company again?
Wednesday, April 27, 2016
Wednesday, April 20, 2016
Crude prices have fallen below $40 a barrel after Kuwaiti oil workers ended a three-day strike that had cut the OPEC member's production by nearly half. Concerns about oversupply were further reinforced by API industry data that showed a 3.1M barrel U.S. inventory build last week, about double that expected by analysts. Bearish sentiment is also taking hold as traders continue to assess the impacts from the output freeze deal failure between major producers . Oil futures -2.8% to $39.94.
Looking to counter dwindling, oil revenues and reserves, Saudi Arabia is raising $10B from a consortium of international banks as it embarks on its first global debt issuance in 25 years. The landmark five-year loan, a signal of Riyadh's new found dependence on foreign capital, comes as the sustained oil slump encourages other Gulf governments, such as Abu Dhabi, Qatar and Oman, to tap world bond markets./bbl. looking to counter dwindling
Tuesday, April 5, 2016
The Reserve Bank of India cut its repo rate by 25 basis points to 6.5% overnight, making a widely expected reduction to bring the figure to its lowest in more than five years. But in a surprise move, the RBI also raised the reverse repo by 25 basis points to 6.0%, while taking measures to ensure more availability of cash in the banking system. Heading Down Under: Australia's central bank left interest rates at a record low 2.0%, where they have been for nearly a year, citing evidence of continued growth at home despite an unhelpful rise in the local dollar.