A few weeks back, dbtunr couldn't fill in the missing blanks on what he posted about FX. The ironic part, had he a clue about FX, he could have seen the drop in Copper prices coming and saved his and GS hinnies on RVM.
Here's added fuel to the debate on Apple earnings, read the last line very carefully.
Earnings yesterday supported the weaker sentiment in markets. In particular releases from Caterpillar, Microsoft and Proctor and Gamble headlined disappointing quarterly releases with earnings generally below consensus. Thematically, Proctor and Gamble reported difficulties with a fluctuating FX market – the company release noting that it was the ‘most significant fiscal year currency impact’ in its history. US chemicals group Dupont also downgraded 2015 profit forecasts following a larger than expected currency impact as a result of the stronger Dollar. As well as currency impacts, lower oil prices has been the other key theme that we’ve seen come out of results so far and yesterday’s release from Caterpillar highlighted the subdued demand from oil and mining services companies in particular. It wasn’t all bad news however. After market close yesterday shares in both Apple and Yahoo rose 7% and 10% respectively in extended trading following better than expected earnings. The FT reported that Apple in particular reported the highest quarterly net profit ($18bn) on record for any company despite Apple’s CFO noting that ‘results would have been even stronger absent fierce foreign exchange volatility’.
One potential headwind this quarter is FX, given the strong U.S. dollar. In a note to clients earlier in the week, BMO Capital analyst Keith Bachman warned that gross margin expansion will be limited by FX. "Net, we believe Apple could report December quarter gross margins of around 39.0%", Bachman said. "However, in the absence of FX, we think gross margins would be approximately 40%. Hence, we believe FX will be a gross margin headwind in the December and subsequent quarters. We are not changing our estimates."
Also of note, we did have supply today from both Italy and the Netherlands however this failed to impact the broader market. Both Danaher (DHR) and DuPont reported relatively weak earnings, citing the strength in the USD, with this being a theme throughout earnings season so far as Johnson & Johnson (JNJ) and United Technologies (UTX) have both said similar. Microsoft (MSFT) also announced that FX was hurting business and trade lower by around 6.5% in pre-market trade.
QE to infinity on the way. Interesting how one bad quarter can rub out the dividends you earned on a stock for three years. Just ask Microsoft shareholders.
I was aware of the Netherlands. You should short gold, listen to Goldman. You thought it wise to buy CO property in a deflationary environment, what's another big mistake to you?
The last thing I would buy in a deflationary environment is real estate in CO. Specially paying $150K premium to the guy who flipped it to you. Do you concur?
He will sell this to the highest bidder when he's ready. If he wanted to take it private, why not when it was trading near $8? The last few days were all shorts covering. They know that several key announcements are coming.
How's that RVM treating you. I gave you a heads up on what would happen there also. You just cannot grasp things. Maybe because you constantly have your head up Dbtunrs and Spanspurs hinny's. Call mommy and ask her to cover your margin calls on RVM.
I have caller ID and your wife keeps calling, begging for Big Bill and the twins. I had to let her down nicely, but she keeps repeating, I don't get satisfied by Spanspur and peewee. I'll send her a selfie of Big Bill and the twins, maybe that will hold her over.
Isn't this what I said last week that was happening. Nice when you allow validation to take it's course.
Here's what GS stated:
" I really have not spent much time valuing the potential of the company because once Rock Creek gains full approval the valuation will be huge."
You cannot make this stuff up. Are you sure that you are not spanspur? He talks in circles just like you do. He also claims to own things if they go up and denies it, when they go down.
Well I'm just glad I saw it differently.
I guess it means the same thing as why no PR's. The only message you have on VNNHF. So let's see if I have this right, you have no problem fabricating things about WG, but don't like it when it's reversed. So basically you are a two face. You can dish it out, but have a hard time when someone does it to you. interesting, I have several nieces and nephews, who act just like you do GS.
Maybe you shouldn't of thanked dbtrunr so much in your post on that board. On one board you say you doubled, on writing why no Pr's and on the other board you rave about RVM. But didn't buy any. Make sure you keep good tax records.
There's no record of you saying you bought VNNHF, but you claim you have a double there. So if the stock goes up, you own it, if it goes down you didn't, even if you pump it. Should we start calling you spandex?