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MacDailyNews presents live notes from Apple’s Q221 conference call Wednesday, April 28, 2021 4:45 pm MacDailyNews presents live notes from Apple’s Q221 Conference Call with analysts starting at 5pm EDT / 2pm PDT today, April 28, 2021. Apple's Q121 conference call. Image: Apple logoApple today will provide live audio streaming of its Q221 Results Conference Call. This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. Streaming to your TV requires...

For years now, the BLM organization has been pressured to be more transparent. People have been curious about how and from whom the group gets donations and where that money is being spent. Finally, in an exclusive to the Associated Press, the Black Lives Matter Global Network Foundation has released the numbers – but not all the information requested. “This marks the first time in the movement’s nearly eight-year history that BLM leaders have revealed a detailed look at their finances,” the AP said. After the death of George Floyd at the hands of a police officer in May 2020,...

MacDailyNews presents live notes from Apple’s Q320 Conference Call with analysts starting at 5pm ET/2pm PT today, July 30, 2020. Apple's Q220 conference call. Image: Apple logoApple will provide live audio streaming of its Q120 Results Conference Call using Apple’s industry-leading QuickTime multimedia software. This stream is best experienced on an iPhone, iPad, or iPod touch using Safari on iOS 10 or later; a Mac using Safari on macOS Sierra 10.12 or later; or a PC using Windows 10 and Microsoft Edge. Streaming to Apple TV via AirPlay requires an Apple TV (2nd generation or later) with the latest Apple...

U.S. Supreme Court Justice Ruth Bader Ginsburg on Friday put a temporary hold on a court ruling that would require records held by Deutsche Bank AG and Capital One Financial Corp to be handed over to Democratic-led congressional panels. Trump's lawyers asked the high court to put a hold a Dec. 3 ruling by Manhattan-based 2nd U.S. Circuit Court of Appeals directing the two banks to comply with April subpoenas by the House of Representatives Financial Services Committee and Intelligence Committee for the financial records.

Apple today announced financial results for its fiscal 2019 third quarter ended June 29, 2019. The Company posted quarterly revenue of $53.8 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7 percent. International sales accounted for 59 percent of the quarter’s revenue. “This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Tim Cook, Apple’s CEO, in a statement. “These results are promising across all our geographic...

A federal judge temporarily halted subpoenas issued by congressional Democrats for President Trump's financial records following intervention from an appeals court in Washington, D.C. The U.S. Court of Appeals for the District of Columbia Circuit sent an emoluments lawsuit against the president, which alleges that he is illegally benefiting from his businesses while serving in the Oval Office, back to a lower court on Friday to reexamine whether the separation of powers between the president and Congress had been properly considered. According to the judges, "the District Court did not adequately address whether — given the separation of powers issues...

Market doomsayer Marc "Dr. Doom" Faber has launched a racially charged diatribe in his latest newsletter, alleging that the U.S. is great primarily because it is ruled by white people. The eccentric Gloom, Boom & Doom report author, who often speaks on CNBC and other financial media, generally forecasting some type of market downturn, focused his latest comments on the racial conflicts happening around the country. (A CNBC spokesperson said it will not book him in the future.) "And thank God white people populated America, and not the blacks. Otherwise, the US would look like Zimbabwe, which it might look...

Apple today announced financial results for its fiscal 2017 second quarter ended April 1, 2017. The Company posted quarterly revenue of $52.9 billion and quarterly earnings per diluted share of $2.10. These results compare to revenue of $50.6 billion and earnings per diluted share of $1.90 in the year-ago quarter. International sales accounted for 65 percent of the quarterÂ’s revenue. Services revenue was $7.041 billion (includes revenue from Digital Content and Services, AppleCare, Apple Pay, licensing and other services) vs. $5.991 billion YOY, or +18%. Other Products revenue was $2.873 billion (includes sales of Apple TV, Apple Watch, Beats products,...

Apple today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarterÂ’s revenue. Wall Street expected Apple to report earnings of about $2 a share on $51.97 billion in revenue, according to...

The Odds Rise of a Democratic Victory William A. Galston While all eyes have been turned toward the dramatic nominating contests in both political parties, the fundamentals that will shape the general-election contest have been shifting toward the Democrats. Candidates seeking to succeed a two-term incumbent of their own party face an uphill battle. All other things being equal, political scientists find, such candidates can expect to fall short of the incumbents’ re-election vote share by at least 4 percentage points. Applied to the 2012 results, this metric would yield a 47% share for this year’s Democratic nominee. On the...

On August 6, billionaire hedge fund manager Leon Cooperman took the unusual step of dialing into an earnings call for one of his fund's holdings and asking a question. It was a second-quarter earnings call for SunEdison, a solar-energy company that went public in 1995. At the time, Omega was the 11th-biggest shareholder of SunEdison, with 8.8 million shares. It's a large stake, but it is still unusual for Cooperman to pick up the phone to publicly ask a question on a company's quarterly conference call. These were no ordinary circumstances, however. After enjoying the benefits of a classic Wall...

Across the oil patch, banks are starting to close off their exposure to some of the riskiest oil drillers. A new monthly survey from the Federal Reserve finds that banks that have issued loans to oil drillers are projecting some of them to go bad. Over the course of 2015, the Fed says that oil loans could “deteriorate” and that banks “expected delinquency and charge-off rates.” At the same time, the overall exposure to such loans remained small. Around 80 percent of the banks surveyed by the Fed indicated that their exposure to shaky oil companies accounted for less than...

So much for the US decoupling. Following 5 days of persistent refusals to deal with reality, the real world finally came back with a bang, and while the overall market tumbled the most in two months, it is really financial stocks that took the brunt of today's beating. As the chart below shows, the XLF has literally collapsed with most major banks on the ropes, and the broker dealer index down 6.45% the most since August 10. The reason? Italy of course, and the fear that once the country is forced to write down its debt, the bank failures...

Aug. 3, 2010, 12:01 a.m. EDT The biggest lie about U.S. companies Commentary: Healthy balance sheets? They owe $7.2 trillion, the most ever By Brett Arends BOSTON -- You may have heard recently that U.S. companies have emerged from the financial crisis in robust health, that they've paid down their debts, rebuilt their balance sheets and are sitting on growing piles of cash they are ready to invest in the economy. You could hear this great news pretty much anywhere -- maybe from Bloomberg, which this spring hailed the "surprising strength" of corporate balance sheets. Or perhaps in the Washington...

Citi, Bank of America drop on nationalization concern By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) -- Bank of America Corp. shares hit a record low and Citigroup Corp. stock slumped to an 18-year low Friday, as the two financial giants faced investors' concerns they may soon be nationalized. Citi shares dropped 21% to $1.99, their lowest level since early 1991. Bank of America fell 17% to $3.27, and earlier touched a record low of $3.19, according to FactSet Research data. A Citigroup spokesman highlighted the bank's high Tier 1 capital ratio, a measure of financial strength, and said it continues...

All US Financials Will be Nationalized in a Year: Manager FINANCIALS, CITIGROUP, NATIONALIZE, GOVERNMENT, BAILOUT CNBC.com It's not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday. "All financials will be owned by the U.S. government in a year," Hendry said. "I bet you." Nationalizations take dramatic losses from the private sector and places them on the larger balance sheet of the public sector, he said. "It's not good," but society is vulnerable and society is...

All US Financials Will be Nationalized in a Year: Manager Companies:Citigroup Inc CNBC.com | 21 Nov 2008 | 10:10 AM ET Text Size It's not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday. "All financials will be owned by the U.S. government in a year," Hendry said. "I bet you." Nationalizations take dramatic losses from the private sector and places them on the larger balance sheet of the public sector, he said. "It's not good,"...

The Baby Boom Generation will never be mistaken for the Greatest Generation that survived the Great Depression and defeated evil in a World War that killed 72 million people. I hate to tell you Boomers, but putting a yellow ribbon on the back of your $50,000 SUV is not sacrifice. Our claim to fame is living way beyond our means for the last three decades, to the point where we have virtually bankrupted our capitalist system. Baby Boomers have been occupying the White House for the last sixteen years. The majority of Congress is Baby Boomers. The CEOs and top...

The Securities and Exchange Commission voted to extend the temporary rules it put in place to restrict short-selling of a handful of financial stocks. The SEC commissioners didn't take additional steps opposed by Wall Street to expand the number of stocks affected by the rules or make them permanent. The temporary rules were set to expire Tuesday, and the SEC extended the order on the 19 stocks until Aug. 12. It won't be extended beyond then. In a short sale, a trader sells borrowed stock in a bet the price will decline and the stock can be profitably repurchased at...

Tuesday’s action in amending Regulation Short Sales HO) listed 19 banks and financial companies for which naked shorting was effectively banned for 30 days. Such a limit was long overdue but why limit the restriction to just 19 companies and just 30 days? Naked short selling (selling shares short that are not first borrowed, which is required to execute a legal short) is endemic and the SEC has turned a blind eye to it since the agency was created. This recent action is a knee-jerk reaction but a clear example of too little way too late. The question is will...