10 Things You Need To Know This Morning

Business Insider

View photo

.
korea tragedy

REUTERS/Kim Hong-Ji

A woman pays tribute in Ansan, at a temporary group memorial altar for victims of capsized passenger ship Sewol April 23, 2014. The death toll now stands at 150.

Good morning! Here's what you need to know.

Apple Is An iPhone Company. Apple reported strong earnings and revenue after the bell yesterday. "Just when the world was ready to bury Apple, the company delivered a strong beat," BI's Jay Yarow wrote. Especially notable were iPhone sales, which crushed expectations at  43.7 million. That's up 17% year over year. Compare that with iPad sales, which missed expectations at 16.35 million vs. 19 million. "There's no doubt about it. Apple is an iPhone company. Everything else is just gravy,"  BI's Steve Kovach said.

Stock Split. The firm also  increased its share buyback plan to $90 billion from a previously announced $60 billion. It said it was increasing its quarterly dividend by about 8% and said it will split its stock 7-for-1 in June. Shares are up 7.5% before the bell. NASDAQ futures are up nearly 1.5%. 

RIP Net Neutrality? The FCC is set to propose rules Thursday that would allow content companies to pay for faster and better streaming. Many thinks this spells the end of net neutrality, which some argue helped foster startups and innovation by giving smaller firms a equal access to customers. "This is a complete turnaround from the FCC's previous stance on the subject of net neutrality, which is the idea that everyone should have equal access to the Internet and content providers should not be discriminated against in providing content to customers," BI's Karyne Levy writes.

Same Old Ratings Agencies — And Wealthier. The Wall Street Journal's Tim Martin writes U.S. ratings agencies are expected to report record profits this month because nothing has been done to change their models despite calls to do so following the financial meltdown. " The business model, in which debt issuers pay for ratings, remains in place; regulations proposed years ago are yet to be implemented; and new competitors have gotten little more than a toehold," he writes.

Spanish Borrowing. Yields on Spain's 10-year hit an all-time low of 3.059%, down from 7.5% just two years ago. " Strong demand for Spanish debt at the auction was due to growing confidence in the  economy , hopes the ECB will embark on a quantitative easing programme and rising optimism amongst the ratings agencies, said strategist Annalisa Piazza, of Newedge Strategy," Reuters said.

New Mega Tobacco Reg Coming. The New York Times reports the FDA is not only poised to set tough new regulations on e-cigarettes, but will also get around to things like pipes and cigars that have for years slipped under its radar. "The new regulations would ban the sale of e-cigarettes, cigars and pipe tobacco to Americans under 18, and would require that people buying them show photo identification to prove their age, measures already mandated in a number of states."

Data. Initial jbless claims hit at 8:30 a.m. Expectations are for a slight uptick to 313,000 from 304,000. Also at 8:30 we get durable goods orders. Expectations are for a gain of 2%; ex-transportation, 0.9%.

GM Earnings. Consensus is for $0.09/share versus $0.58/share a year ago. Barclays says it could go as low as a penny, according to NBC.  GM just announced it would take a  $1.3 billion write-down  on the recalls it announced during in Q1.

Other Earnings Announcements. Amazon, Coke, Microsoft, Pandora, Starbucks, UPS, and Verizon all report. 

Markets. Stocks are up across much of the world. U.S. futures are higher. Gold is down.



More From Business Insider

Rates

View Comments (0)

Recommended for You

  • Obama to GOP: 'Stop just hating all the time'

    KANSAS CITY, Mo. (AP) — Pointing the finger at Republicans for congressional inaction, President Barack Obama chided lawmakers Wednesday for spending the waning days before their month-long summer break trying to sue him rather than addressing economic issues that could boost the middle class.

    Associated Press
  • ARGENTINE STOCKS CRASH

    Argentina's stock market is tanking after the...

    Business Insider
  • Your History is Available Online, Take a Look!

    A new website reveals everyone's past online. Looking through someone's records is as easy as searching a Name and State!

    AdChoicesInstant CheckmateSponsored
  • In San Francisco real estate, $1M won't buy much

    SAN FRANCISCO (AP) — San Francisco Association of Realtors President Betty Taisch has two words of advice for those who want to live here and think $1 million will buy them their dream house: Think again.

    Associated Press
  • Airbus adamant no room for more talks in cancelled Japan jet deal

    Airbus on Thursday said its decision to cancel a $2.2 billion jet order from Skymark Airlines was final, rejecting the Japanese carrier's suggestion that talks were still ongoing. The European aircraft maker said this week it had informed Skymark that its purchase of six A380 superjumbos "has been…

    AFP
  • Tesla posts 2Q loss, prepares Nevada factory site

    PALO ALTO, Calif. (AP) — Electric car maker Tesla Motors widened its loss in the second quarter as it prepared for the launch of a new SUV and started work on a massive new battery plant.

    Associated Press
  • 4 Unusual Savings Strategies That Really Work

    It's just one of those facts of life: Saving money can be really hard. If you're trying to save and not getting ahead, it might be time to try one of these easy, everyday savings habits that will help you tighten your finances.

    U.S.News & World Report LP
  • Play

    Why Do Millennials Prefer Cash to Investing Money?

    In the last year, the S&P 500 delivered 17% and cash investments delivered 1%. Which would you rather have? In a Bankrate study, millennials said they'd rather have the cash. The Mutual Fund Store's Senior Vice President of Investments Andy Smith joins Simon Constable on the News Hub to discuss.…

    WSJ Live
  • Wisconsin Supreme Court upholds 2011 union law

    MADISON, Wis. (AP) — The fight over Wisconsin Gov. Scott Walker's signature policy achievement, a law effectively ending collective bargaining for most public employees, ended Thursday with the state Supreme Court declaring it to be constitutional.

    Associated Press
  • Tycoon Worth $62.9 Billion Shares Money Secret

    This billionaire investing wizard has a dead-simple system for making money you can start using today.

    AdChoicesThe Motley FoolSponsored
  • Sanctions will damage Russia if not lifted quickly

    MOSCOW (AP) — U.S. and European sanctions against Russia's energy and finance sectors are strong enough to cause deep, long-lasting damage within months unless Moscow persuades the West to repeal them by withdrawing support for Ukrainian insurgents.

    Associated Press
  • 3D Systems Shares Are Cratering

    Shares in 3D Systems were down more than 12% in...

    Business Insider
  • Bank of America ordered to pay $1.27 billion for 'Hustle' fraud

    By Jonathan Stempel NEW YORK (Reuters) - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp. U.S. District Judge Jed Rakoff in Manhattan ruled after a jury last October found the…

    Reuters
  • Adidas shares plunge 13% after Russia warning

    Adidas shares tanked more than 13 percent after it cut its profit targets for 2014, warning "tensions" in Russia would hit its bottom line.

    CNBC
  • What SunPower Earnings Mean for First Solar and SolarCity

    After markets close Thursday, solar panel maker SunPower will report second-quarter results. Competitors First Solar and SolarCity are scheduled to report results next week.

    24/7 Wall St.
  • Play

    Tesla's Earnings: What to Watch For

    Electric-car maker Tesla is scheduled to be released after the bell Thursday, and Mike Ramsey joins MoneyBeat with Paul Vigna to preview the results.

    WSJ Live
  • Dental Implants: What You Should Know

    Thinking of getting dental implants? There are critical things you should know before going under the knife for the perfect smile.

    AdChoicesSymptomFindSponsored
  • 5 Little-Known Ways to Boost Your Retirement Savings

    Saving for retirement is no easy task. Fortunately, we have several tools and strategies that can help us reach our retirement goals. Maintain your asset allocation. When you begin investing you typically select an asset allocation that suits your risk tolerance and investment goals.

    U.S.News & World Report LP
  • Panasonic, Tesla to build giant battery plant in US

    Japanese electronics giant Panasonic and US electric vehicle maker Tesla Motors said Thursday they will jointly build and operate a huge lithium ion battery plant known as the Gigafactory. Under the deal, Tesla will run the operations at the proposed US-based plant, while its Japanese partner will…

    AFP
  • Dow plunges as multiple worries vex investors

    NEW YORK (AP) — For stock investors, the red flags were everywhere on Thursday.

    Associated Press
  • Why You Should Prepare for the Next Bear Market Now

    The stock market is going gangbusters these days, with the S&P 500 close to surpassing 2,000 points. While the index may never fall back to that level, bear markets will one day hit us hard again. It's a good idea to develop a plan for the next bear market now, while your asset values aren't free…

    U.S.News & World Report LP
  • Can a Repair Shop I Didn't Use Send Me to Collections?

    Are you obligated to pay for car parts that a repair shop ordered after they gave you an estimate? And can they send you to a debt collector if you don't pay?

    Credit.com
  • Alcatel-Lucent cuts losses but shares slump

    Telecommunication equipment group Alcatel-Lucent said Thursday it cut net losses by more than half in the second quarter as it battles to rebuild after years of setbacks. Alcatel-Lucent said its quarterly net loss was 298 million euros ($399 million), down from 885 million euros for the same period…

    AFP
  • New Prostate Supplement Takes CVS by Storm

    Are you sick and tired of frequent bathrooms trips that wake you up at night and dominate your day? There's a new product that helps.

    AdChoicesPeak LifeSponsored