Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce joined the country’s other lenders in topping analysts’ estimates for third-quarter earnings, lifted by record profits in domestic consumer lending and wealth management.
International Business Machines (IBM) reported results for the first quarter of its fiscal year 2014 (1QFY14; ended March 31, 2014) yesterday after markets closed. The company’s earnings were in line with analysts’ estimates while revenues missed expectations by 1.83%. The company faced troubles in its Hardware business while the Software business ended up beating expectations.
AAPL stock is currently trading at or just under the $500 "generational bottom" in the premarket session, or nearly a one year low, following news first from Japan's Nikkei that Apple has slashed orders for iPhone 5 components, and then from the WSJ, that demand for the flagship phone was far less than expected, resulting in a cut in orders in the supply chain.
Toyota Motor Corporation (TM) announced results for the third quarter of its fiscal year 2013 (3QFY13, which ended December 31, 2013). The Japanese automaker reported strong quarterly earnings and revenues that largely met consensus expectations, while stating that it expects full year results to come in higher-than-expected.
Net profit for the world’s largest automaker by sales rose to 525.4 billion yen ($5.2 billion) in the latest quarter, up from 99.1 billion yen in 3QFY12. Revenues for the third quarter increased 24% to 6.59 trillion yen ($65 billion).
So far the overnight session has been a replica of yesterday, with the all important carry trade once again fizzling overnight during Japan trading hours, and dipping as low at 101.60 before staging a modest rebound to the 101.8 level. We expect the "invisible" 102.000 USDJPY tractor beam to be again engaged shortly and provide market support and/or levitate stocks higher as the now standard selling in Japan, buying in the US trade pattern repeats.
By Helix Investment Management:
The solar sector, since its inception, has never been free of controversy. There is always some sort of debate going on about the profitability of the market or its future potential. We have consistently believed that there is a role for solar energy in the generation of electricity, and that profits can be generated in the long-term.
Nike, Inc.’s (NKE) stock price is down about 3.8% during pre-market trading yesterday, following downward revisions in earnings per share (EPS) analysts’ estimates due to the company’s guidance of an expected weakness in profits.
SunPower (SPWR) released its Q1 results on May 2, and it was aided by construction activity on its power plant contracts in the U.S. as well as strong demand from Japan. Quarterly revenues grew by around 28% over last year to $635 million (GAAP), while the net loss narrowed to around $55 million. The results beat market expectations, sending the stock higher by almost 20% since the release.
SunPower (NASDAQ:SPWR) released its Q1 results May 2, and it was aided by construction activity on its power plant contracts in the U.S. as well as strong demand from Japan. Quarterly revenues grew by around 28% over last year to $635 million (GAAP) while the net loss narrowed to around $55 million. The results beat market expectations sending the stock higher by almost 20% since the release.