Posts by Dean Arrindell
- Dean Arrindell at Hot Stock Minute8 hrs ago
While Visa (V) beat second quarter earnings and revenue estimates, the world’s-largest credit and debit company said it was having some difficulties internationally. Visa lowered its revenue outlook for the year because of a slow-down in cross-border transactions and a stronger U.S. dollar. The company is also affected by the conflict between Russia and Ukraine.
A new Russian law is forcing Visa and rival MasterCard (MA) to deposit nearly $3 billion in collateral in Russian banks to operate there. Visa considered pulling out of Russia, but officials there said the companies could avoid paying the collateral if they find local partners by the end of October. Transactions in Russia make up about 2% of Visa’s revenue.
- Dean Arrindell at Hot Stock Minute13 hrs ago
Demand increased for aircraft, heavy machinery and computers in June, which helped boost durable goods orders. The Commerce Department said durable goods orders rose of 0.7% last month, following a 1.0% decline in May. Analysts expected a rise of only 0.5% in June.
Amazon (AMZN) reported a wider-than-expected loss of $126 million in the second quarter. However, revenue rose 23%, matching estimates. The company also said it expects to see a bigger-than-expected operating loss of $410 million to $810 million in the current quarter. Amazon's losses reflect the big investments its been making on new businesses and services. This year alone it unveiled streaming services, and its first set-top box and smartphone.
Visa (V) lowered its revenue outlook for the year due to a slow-down in cross-border transactions and a strengthening U.S. dollar. That news over-shadowed the company's favorable earnings. Visa beat analysts' earnings estimate by $0.07. It also beat on revenue.
- Dean Arrindell at Hot Stock Minute1 day ago
The number of people applying for first-time unemployment benefits dropped to is lowest level in more than eight years. The Labor Department reported that 284,000 people applied for initial jobless claims last week. That’s the lowest level since February 2006. Analysts had expected 310,000 people to apply for jobless claims.
Wal-Mart (WMT) announced this morning that Bill Simon, the president and CEO of Wal-Mart U.S., will leave his role and transition out of the company. Greg Foran, the president and CEO of Wal-Mart in Asia, will replace him. Foran will assume his new role on August 9. Simon will stay with Wal-Mart as advisor for six months.
- Dean Arrindell at Hot Stock Minute2 days ago
Chrysler is recalling 792,000 Jeep SUVs worldwide because ignition switches could go out of the “run” position and cause engines to stall. The ignition problem affects Jeep Commanders from model years 2006 through 2007, and Jeep Grand Cherokees from 2005 through 2007. Chrysler says that only one accident has been linked to the recall and is not aware of any injuries.
Several big-name companies have reported earnings. Strong iPhone sales helped Apple (AAPL) boost profits, but iPad sales fell for the second consecutive quarter. Earnings beat estimates, and even though revenue rose 6% from a year ago, it still came in below expectations. PepsiCo (PEP) beat analysts’ estimates thanks to cost-cutting. Revenue also beat estimates helped by higher beverage and snack volumes. Whirlpool (WHR) missed on earnings by $0.29, and fell short on revenue, too, which fell 1.4%. Whirlpool also cut its full-year guidance outlook.
- Dean Arrindell at Hot Stock Minute3 days ago
Some fund managers are not so big on Apple (AAPL) stock, but the company has big plans for the iPhone 6. That comes ahead of the company's much anticpated earnings report after the close.
A report from Goldman Sachs says that Apple is one of the most underweighted stocks by large cap fund managers. The managers say that the company isn’t a growth stock anymore and hasn’t introduced a truly new product since in 2010, when it released the iPad.
Yahoo Finance Senior Columnist Michael Santoli, said that the largest-cap stocks tend to be slightly underweighted by active fund managers. He also said skepticism is healthy for Apple stock, and is preferable to the way investors were overconfident in 2012.
- Dean Arrindell at Hot Stock Minute3 days ago
Consumer prices rose in June due to rising gasoline prices. The Labor Department said the Consumer Price Index rose 0.3% last month, right in-line with analysts’ estimates. Gasoline prices, which often increase during the summer, rose 3.3% in June. Food prices rose the smallest amount since January, only 0.1%.
Chipotle shares soared after the fast-food chain raised its full-year sales outlook after reporting profit and revenue that blew past Wall Street estimates in the second quarter. Same-Store sales rose a better-than-expected 17.3% in the quarter as customer traffic increased despite price increases, which helped offset higher food costs.
Meanwhile, McDonald’s opened the day slightly down after it reported misses on both earnings and revenue. It also reported that worldwide same-store sales were flat, and same-store sales in the U.S. fell 1.5% percent.
- Dean Arrindell at Hot Stock Minute4 days ago
Stocks began the day down sharply but began to recover after President Obama’s remarks about the conflicts in Gaza and Ukraine. Stocks ended the day slightly lower with the Dow (^DJI) down 48 points at 17,052, while the Nasdaq (^IXIC) fell 7 points to 4,425 and the S&P 500 (^GSPC) closed the day down 5 points at 1,974.
Herbalife was among the biggest losers, ending the day down $6.82 -- dropping more than 11% -- to $54.02 after hedge fund manager William Ackman said his Pershing Square Capital will make a presentation on Tuesday that will “expose incredible fraud" at the company.
R.J. Reynolds hit with $23.6B verdict; Another billionaire supports a shorter work week; More firms giving raisesDean Arrindell at Hot Stock Minute4 days ago
A jury imposed punitive damages of $23.6 billion against R.J. Reynolds Tobacco, a unit of Reynolds American (RAI), on Friday. The Florida jury awarded the sum to a widow whose husband was a chain smoker and died of lung cancer in 1996 at the age of 36. R.J. Reynolds said it will appeal the decision. The verdict came the same week that Reynolds American agreed to buy Lorillard (LO) in a $27.4 billion deal.
Mexican telecom billionaire Carlos Slim said a three-day work week, working 11 hours a day, would give people more time to relax and have a better quality of life. His statements com come a few weeks after Google (GOOGL) founder Larry Page talked about a four-day work week, saying it's not true that people need to work frantically to meet their needs. We want to know what you think about these two billionaires talking about a shorter work week. Do you think it’s a good idea? Vote in our poll, or leave a comment below or on Twitter.
- Dean Arrindell at Hot Stock Minute7 days ago
Would you buy something from clicking an ad your Facebook (FB) feed? What about making a purchase directly from an ad that flew by on Twitter (TWTR)? Both companies hope you will and are taking steps to make e-commerce an integral part of their social media ecosystems.
Facebook said on Thursday that it’s testing a "Buy" button so users can purchase items right from ads and Page posts in their news feeds. The service is being tested on a few small or medium-sized businesses. Also yesterday, Twitter bought CardSpring that allows users to redeem discounts and coupons in tweets.
- Dean Arrindell at Hot Stock Minute8 days ago
The crash of a Malaysian plane flying over Eastern Ukraine apparently after it was hit by a missile unnerved the stock market. The Dow (^DJI) lost 161 points to close at 16,977, while the Nasdaq (^IXIC) fell 63 points to 4,363 and the S&P 500 (^GSPC) fell 23 points to 1,958 -- all near the day's lows.
Even before news broke about the crash in early afternoon, stocks were trading lower because of additional sanctions announced by the U.S. and EU against Russia for supporting separatist forces in Eastern Ukraine. In late afternoon the U.N. Security Council announced it would hold an emergency meeting Friday on the situation in Ukraine.
In other news, the Commerce Department said U.S. home construction fell 9.3% in June to 893,000 -- the lowest number since September 2013. And initial jobless claims fell last week 3,000 to 302,000, according to the Labor Department.