Deloitte found that only 8% of companies considering an IPO have started work on implementing the new rulesramercyPictures/Courtesy Everett CollectionAccountants do not feel that their companies are prepared for new revenue rules. According to a poll from Deloitte, only 8% of companies that are considering going public have completed the move to the new revenue recognition requirements that are needed for public companies beginning in January 2018. The new rules established by the Financial Accounting Standards Board are meant to standardize how companies report revenue, but have a greater impact on companies that have contracts or deferred revenue, such as software or technology companies.
A few weeks ago, CNBC declared last month to be “The August of Apple,” cheering how the stock, just like it did in February and March, had been leading all Dow components as the index continued its assault on record highs. “Apple has led U.S. indices to new highs for a long time, but this practice now seems to be over,” he said. Larsson said that since Apple’s record high on the first day of September, there’s been a rising wedgelike pattern forming, as you can see by the two blue trend lines.
Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways. Sometimes you need to grab the bull by the horns and buy, buy, buy, Cramer told viewers, and that's exactly what investors in FedEx (FDX) were doing today, reversing a $3 decline in the stock yesterday with a $4-per-share gain today. Cramer said that FedEx has always been a play on global trade, just like Boeing (BA) and Caterpillar (CAT) . When the company reported earnings Tuesday, the earnings were good and the outlook even better. But investors latched onto the headlines, related to the hacking of FedEx's European subsidiary. But unlike the massive Equifax (EFX) data breach, FedEx has been upfront and honest