Nasdaq was down about 6.50 but is not down about half of that.
So, another day where we don't really know what is going to happen. If the pattern holds, Wall Street will do everything it can to sell off first thing and then the market will move back from that point on.
Earnings: 140 companies to report
July 28, 2014 Economic Events
(+) Federal Funds Rate 2:45 P.M. ET -
(+) Treasury bills (3 mth) 2:45 P.M. ET -
(+) Pending Home Sales 10:00 AM ET -
(+) Treasury notes (10 yr) 2:45 P.M. ET
As we've already seen with Hewlett Packard's (HP) Mullins-based Pavilion 10z, which has a starting price of $249.99, unnamed sources are reporting to DigiTimes that during the second half of 2014, Microsoft and its notebook partners will be pushing entry-level models priced in the $199 to $249 window. That's certainly good news for consumers who are gearing up for the back-to-school season and need something that's very affordable and without a lot of fluff.
The report states that for the $199-$249 price window, Microsoft and Intel require that the laptop have screens from 10.1-inches to 15.6-inches. They must also have a clamshell form factor, no touchscreens, and use Intel's "Bay Trail-M" Atom processors. Later on, they want to move to the Braswell-based chips that are expected to arrive by Q2 2015.
From Tom's Hardware
Low cost tablets have been a goal for a long time now but breaking the $200 mark hasn’t been easy for manufacturers, without sacrificing features and quality. Then again, what if I told you there’s a 7-inch tablet on the market with 16GB of storage, running Android 4.4 KitKat, with a full 10 point touch, LED back-lit IPS display, a front-facing web cam and rear-facing 5MP HD camera, a microSD card slot, USB, Bluetooth 4, 802.11n WiFi and a quad-core processor on board–and that all retails for just $149.99. Even a 16GB Google Nexus 7 retails for around $240 these days. Sounds like a pretty good deal, right? It is and the interesting thing to note is that it’s also running an X86 processor under the hood.
ASUS recently launched the MeMO Pad 7, a low cost Android tablet that is powered by an Intel quad-core Bay Trail Atom processor.
I don't think there is anyone left who hasn't conceded the case - except maybe Nenni and he's in hiding. Whether for real or just behind fake IDs we don't know. But beware anyone without an education recap.
It's been nearly three weeks since earnings season began and about 320 companies have announced June quarter results so far.
Net profit growth of 249 companies, excluding those engaged in banking and finance and oil & gas, rose a creditable 21.1% year-on-year.
It’s earnings season once again, and though only a quarter of the Russell 1000 has reported so far, the news is just north of positive. All signs indicate that the market has dusted itself off and is back to its cheerful self after a ho-hum first quarter, which was negatively affected by harsh winter weather.
In the chart below, you can see that 73 percent of the companies that have reported as of this writing exceed their earnings per share (EPS) beat rate. The beat rate, as you might know, is the rate at which companies surpass market analysts’ published estimates. The revenue beat rate, meanwhile, sits at 67 percent, a positive surprise above the long-term median of 63 percent.
Second Quarter Earnings
Included in these figures are a few of the top-performing companies that we own in our U.S. Global Investors All American Equity Fund (MUTF:GBTFX) and U.S. Global Investors Holmes MacroTrends (MUTF:MEGAX), such as Facebook Inc (NASDAQ:FB), Apple Inc. (NASDAQ:AAPL) and Biogen Idec Inc (NASDAQ:BIIB). We’ll discuss these companies later.
So to what do we attribute these welcome tidings?
Two notable indicators are the significant drop in initial unemployment claims and the jump in U.S. and global consumer confidence.
"It's just not going to happen. The example the other day about the large Asian American customer base is just one example. People aren't going to rip Direct TV in mass because of G.Fast, They just aren't, And you keep assuming that there won't be any positive changes to the DTV experience, Direct TV wireless Genie got me the Picture in Picture that I wanted as well as the ability to tape 5 shows at once and a larger amount of hours of taping. You can't be an expert on DirecTV since you don't work there and have never owned it. To act like you are is just stupidity,"
[DirecTV is one of the most hated companies in America. In dealing with customers they are as unethical as the day is long. Their whole deal is to rope you into content that you don't want and don't want to pay for in order to get the couple of shows you do want to watch. And then when you are not looking they will bump your bill up. If you sign up for something like the NFL or college package you will never get off it. They will charge you forever and then refuse to reverse it.
If you are happy with what you are paying for what you are getting then you are the only one in America.]
[More short-sellering disasters. I love seeing these bottom-feeders get handed their heads in a basket.]
David Einhorn’s preferred short-selling strategy is to bet against flawed companies that are trading for much more than they’re worth. But when those companies get rich takeover bids at a premium it’s enough to make the hedge fund manager a little ornery.
In a second-quarter letter to investors in his Greenlight Capital, the billionaire lamented the performance of his short portfolio, a drag in a strong quarter where his long positions gained 14%.
Einhorn pointed to “a rash of takeover activity that infected a number of positions,” comparing the recent M&A boom to the 2006-2007 period when easy money fueled takeovers like Medtronic's MDT -0.6% $4.2 billion of Kyphon, which had been a Greenlight short position.
The Big Short of 2014 has been elusive and nightmarish to those who seek it. Maybe that's why this darned market's so buoyant. The pools of capital betting it every which way but loose haven't yet managed to score.
It's been the big long globally, and while "just you wait" can suffice for some, for most, it's just an object lesson in being wrong when, alas, you, intellectually and theoretically, should be right.
[And some pinheads continuously thought Intel would be the "big short" as the stock moved from 19.23 to 34+ over the last 17 months.]
The macro data never complies.
We aren't supposed to have a robust Chinese Purchasing Managers report like the one we had last night.
Remember when all Chinese numbers were worse than expected? Last night's plus-52 number was much better than expected and it dovetails with the high in the Chinese stock market index I follow, the iShares China Large Cap (FXI).
This morning's eurozone numbers, which show good expansion in Europe for both services and manufacturing (and it is not all Germany), again, aren't supposed to happen. Given all the turmoil in Russia and how important Russian trade is for so many companies in Europe, that number should have slipped.
But it didn't.
"Wow, great, party on," you may say. That's one way to look at it.
I like to look at it as another "big short" gone wrong, meaning another bright idea from some $10 billion-running hedge fund that didn't pan out, and now that hedge fund has to panic and cover.
From TheStreet - A lot more at the article
[Nothing like seeing a hedge fun in the midst of panic and covering...]
Intel will launch 14nm-based Core M series processors specifically for use in fanless notebook/tablet 2-in-1 models in the fourth quarter of 2014, with many models to be exhibited at the Intel Developer Forum to take place in San Francisco September 9-11, 2014, according to supply chain makers.
Intel will release five processors under the Core M series including the 5Y10, 5Y10a as well as enterprise vPro 5Y70, initially to replace its seven 22nm Haswell-based processors including Core i7-4610Y, Core i5-4320Y and Core i3-4012Y, the sources noted.
The CPU giant will continue to have Haswell-based processors such as the Pentium 3516Y and Celeron 2961Y defend its entry-level territory, the sources noted.
"Yahoo sets the created since date for these message boards to the oldest message you have posted."
[Well that's incredibly sloppy programming. ]
[Wow, the correction crowd just can't catch a break.]
Orders for long-lasting U.S. manufactured goods rose more than expected in June, pointing to momentum in the economy heading into the third quarter.
The Commerce Department said Friday durable goods orders increased 0.7 percent as demand increased from transportation to machinery and computers and electronic products.
The increase in orders for these goods, which range from toasters to aircraft that are meant to last three years or more, was above economists' expectations for a 0.5 percent rise and followed a 1 percent drop in May.
"This is consistent with broad, increasing demand throughout the economy," said Gus Faucher, senior economist at PNC Financial Services in Pittsburgh.
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rebounded 1.4 percent after declining 1.2 percent the prior month. The gain in the so-called core capital goods outpaced economists' expectations for only a 0.5 percent increase.
The signs of an improvement in business investment bode well for stronger economic growth in the second half of the year. The economy performed poorly in the first six months of 2013, hurt by an unusually cold winter.
Humpty has now given up half of that 7 percent bump it experienced on earnings.
After the beatings Humpty has taken in recent months and the bleatings of the correction crowd, I'm surprised that there is anyone who wants to own Humpty now.
[Gee, didn't the doom and gloom crowd just tell us that everything in Germany was on the skids. I guess they failed to inform the Germans. ]
"German consumer morale rose to its highest level in more than 7-1/2 years heading into August as shoppers became more upbeat about their future income prospects than at any point since 1991, a survey showed on Friday.
Market research group GfK said its forward-looking consumer sentiment indicator, based on a survey of around 2,000 people, climbed to 9.0 going into August from 8.9 in July.
That was the strongest reading since December 2006 and was higher than the Reuters consensus forecast for 8.9 - a positive sign for domestic demand, on which the government is relying to drive growth this year as exports are seen remaining weak.
"Despite the escalation in the situations in Israel and Ukraine, German consumers continue to be exceedingly optimistic this summer," GfK analyst Rolf Buerkl said."
Holy smokes, I'm just about ready to give the crybabies on Wall Street their correction just to shut them up.
All day, every day going on and on about how they have to have their correction.
The whining, crying and complaining never stops.
["The new laptop will run off of an Intel CPU, unlike previous rumors that the machine would be powered by the Apple-made A8 processor."]
Apple should be unveiling some hardware refreshes in the near future, something that will include a new 12-inch MacBook and 4K-capable iMac according to 9to5Mac. The 12-inch MacBook would feature a high-res display, but just how many pixels we don't know yet.
The new MacBook will be thinner and lighter, which would see it placed somewhere between the MacBook Air and MacBook Pro in terms of weight. The new laptop will run off of an Intel CPU, unlike previous rumors that the machine would be powered by the Apple-made A8 processor. Apple has reportedly put a lot of faith behind this new 12-inch MacBook, thinking it will be a big jump forward for the laptop industry.
When it comes to the iMac side of things, we should expect a new 4K-capable desktop to be unveiled by the company in the future. This new machine should arrive with the new version of OS X, Yosemite.