Not only did CSCO beat by 3 cents, they agreed to 15 billion dollars of stock buy backs and raised the dividend 24 percent. There is little to no chance of NOK having a similar earnings report and response right now; not right after digesting ALU in any event.
And 15 billion in buy backs. It's a new day for CSCO; an activist shareholder must have sent a letter to the board or kicked Chambers in the beehive.
From an interview with Ted Pick, the head trader of Morgan Stanley:
He said the long-short hedge-fund community had struggled, and were taking risk off the table. As they did so, they were removing levered long positions, but maintaining their levered short positions, turning negative on the market in the process.
This was after he mentioned the 3 pillars of what's rattling the markets: infancy of China and it's problems, the crude oil bust and sovereign wealth funds raising cash and the uncertainty of the Fed.
From an ABC news story: experts testifying about CA's expensive gas prices:
The average price in California for a gallon of regular gasoline was $2.50 on Monday — 76.5 cents higher than the national average, according to Gordon Schremp, a fuels adviser at the CEC Energy Assessment Division.
Committee Chairman Severin Borenstein said taxes and cleaner-burning fuel account for about 40 cents of the price difference. Witnesses split over whether the additional cost stems from price gouging by providers.
Bob van der Valk, senior editor of the Bakken Oil Business Journal, said a lack of active oil traders has opened the door to price gouging.
(And of course it wouldn't take a giant leap in logic to think CA would get gouged by companies since it has the largest population of any state and the most fuel consumption) A sub-2 dollar a gallon price on gasoline is a pipe dream for residents of CA.
Anyone watching the end of the Super Bowl yesterday and the 2 interviews with Peyton Manning heard a lot of this from the sheriff: "I'm going to drink a lot of Budweiser tonight" (along with kiss his wife and children and reflect on the future). No doubt, Peyton was mulling over exactly what he was going to say in the post game interview after Denver scored that last TD. There wasn't any room for "I'm going to Disneyland" because Budweiser is obviously his big endorser. Yup, it's all about being a business in the end and Peyton didn't let emotions cause him to forget what he needed to say for that 'cool' 7 figure check he's getting in the mail from the Clydesdales.
Good luck with that, I don't have the balls to put any more in right now other than reinvesting the dividend. What's really beyond belief is the fact XOM is up over a dollar in share price heading into the last 30 minutes of trading. How does anyone explain why XOM is up on a big down day when oil prices are getting hammered? It's trading at over a 20 P/E which is historically way higher than average, and it's dividend pay out ratio according to Barron's might top 100 percent this year. Wouldn't be surprised to see XOM come in and buy some distressed companies on the cheap in the next year.
Where did you get your information that domestic demand is shrinking? Here is info. from the US Energy Information Administration which appears to contradict that statement:
Total U.S. liquid fuels consumption is projected to increase by 270,000 b/d (1.4%) in 2015, more than the 140,000 b/d (0.8%) growth in 2014. U.S. consumption has been stimulated by continued growth in employment and the economy and lower petroleum product prices. In 2016, total liquid fuels consumption is forecast to increase by 160,000 b/d (0.8%) from the 2015 level. In 2017, total U.S. liquid fuels consumption is projected to rise by an additional 270,000 b/d (1.4%).
There's no debate about VLO's fundamentals. At this point the market is being sold off and almost no one is getting spared. Not that it's going to make this any less painful, but at least we weren't 'linked-out' today (check LNKD's share price today). Of course, LNKD's fundamentals are #$%$ and not even close to VLO. The one thing that does irk me is the fact that short sellers are making tons of money in today's market and they produce 'nothing'. They just gladly take money out of hard working retail investors futures and steal away in the night.
No, they're chasing capital preservation. Meanwhile, back at the White House our leader is practicing his jump shot with Stephen Curry and Klay Thompson............... and later will get defensive tips from Draymond Green and Andrew Bogut.
Insanity is doing the same thing over and over again and expecting a different result.
Too funny. But of course you could simply 'Google' binturong and you'd find it's also known as a Bear-cat. Or you could refer to me as relatively 'Civet' or I'm more affectionately known on the NOK board as 'curly tail'. Asians would surely know who I am, unfortunately most Americans don't know unless they are an alum or follow U. of Cincinnati sports teams. (BTW- no, I don't have any connection to or desire to promote the U. of Cincy)
Jeye, respectfully I believe you have it backwards. AP has their own reporters so it's more likely that Bloomberg or CNBC quotes an AP story, not the other way around. In any event, I'm happy you accepted the olive branch. I wish you well with your investments and hopefully with a little patience we'll see GM trading back in the mid 30's before the end of the year.
Jeye, I've been respectful of you from the start and that's saying something since you've frustrated me with statements that appear emotionally vested and not well thought out and often connect dots from posts that aren't linked (you seem to get distracted and bring in things from various sources rather than stay on point). I apologize if I hurt your feelings with the recent posts, but in fairness I was trying to make you realize your inconsistencies about GM not getting enough attention and that the CEO should be doing more PR rather than building a stronger franchise. And for the record, this story about Yahoo had NOTHING to do with CNBC, it was an AP story that I read on the bottom of the home financial page on........ YAHOO!! Just because I mentioned CNBC in a past post doesn't mean I watch a lot of CNBC; you are making an assumption based on no fact, simply a reflexive response on your part. And then you go on a tangent about Tesla and CNBC out of the blue....... should I assume you watch too much CNBC since you are basing Tesla's rise in part due to being a 'pet' of that network (how else would you know TSLA is a network 'pet')? I wish you simply would have read this post/ thread and realized I was trying to be cordial and wish everyone well in the event Yahoo disappears in the next few years. So for what it's worth, I'm extending an olive branch to you. The rest is up to you.
Was reading the AP article about the massive lay-offs for Yahoo and how pressure is ramping up by some major Yahoo investors to oust Meyer. The article was pretty bleak about the future of Yahoo at this point stating it's in stabilization mode or just trying to survive. In the event Yahoo goes the way of companies like Kodak or Pan Am I just wanted to express my best wishes to all of you and wish you the best going forward. I imagine some folks will have to find another outlet to express their discontent with the world and things in general, but to those that have been here with a zest of sarcasm, good times and sharing of information I wish you all the best.
Actually good advice and it's exactly what I did with HAL about 2 weeks ago and I almost got my order filled for NOV; damn thing just didn't fall enough today, but I'm hopeful it will in the next couple of months. Stocks are going on sale; we keep hearing the bank stocks on CNBC the past couple of days and at some point some of the energy stocks will reward investors quite handsomely.
It's insanity. WTI up 8 percent so the computer algorithms take VLO down with an automatic sell signal. But let's keep some perspective, WTI is still selling for only 32 dollars a barrel and gas prices will rise quickly and refiners will still be flush with cash. Don't know about the 52 week high by 3rd quarter, but this stock is too cheap.