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Apple on Tuesday reported a first-quarter profit of $1.58 billion, or $1.76 a share, on revenue of $9.6 billion. During the same period a year ago, Apple earned $1 billion, or $1.14 a share, on $7.12 billion in sales. Analysts surveyed by Thomson Financial had forecast Apple to earn $1.62 a share on revenue of $9.47 billion. Apple said that during the quarter ended Dec. 31 it sold 22.1 million iPods and 2.3 million Macintosh PCs. For its second quarter, the company estimates it will earn 94 cents a share on $6.8 billion in revenue.
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b1FA68088-D36D-4413-876A-FBACA379084D%7d&siteid=yhoo&dist=yhoo
 
Link to S&P Technical Analysis on CNBC "Fast Money". Louise Yamada called it right last fall and is still calling for a further decline. She is equating the current downtrend to the start of the 2000 - 2003 bear market.:(

http://www.cnbc.com/id/22785249
 
clester said:
S&P Futures down -9.70 at 9:30pm all the sudden. What happened?? They were up.???
Click to expand...

This thing isn't over yet... That's all.

Heck, it's down 14.2 now.

DJIA INDEX 11,861.00 -90.00
S&P 500 1,295.10 -14.20
NASDAQ 100 1,770.50 -30.50

BRING IT ON
 
Last edited:
Yeah... Japan was up nearly 500 after the open. Now it's up only about 61... falling fast from 200. Where it ends up is anyone's guess.
 
I believe Japan is scratching their heads because we did not rally with the rate cut.:D

They have no direction... neither do we for that matter!:laugh:
 
Well... so far, here's the futures for tomorrow:

DJIA INDEX 11,845.00 -106.00

S&P 500 1,292.90 -16.40

NASDAQ 100 1,764.75 -36.25
 
Motorola 4th-Quarter Profit Falls Sharply, Company Warns Turnaround Taking Longer Than Planned

SCHAUMBURG, Ill. (AP) -- Cell phone maker Motorola Inc. on Wednesday said net profits fell sharply in the fourth quarter, and it warned that the recovery in its struggling handset unit will take longer than expected. Motorola reported a net profit of $100 million, or 4 cents per share, compared to a year-earlier profit of $623 million, or 25 cents per share. Sales fell to $9.65 billion from $11.79 billion a year earlier.
 
Pfizer profit lower but beats expectations
Wednesday January 23, 8:13 am ET

NEW YORK (Reuters) - Pfizer Inc (PFE - News), the world's biggest drugmaker, on Wednesday reported fourth-quarter results that beat expectations.
The company said it earned $2.88 billion, or 42 cents per share. That compared with $9.45 billion, or $1.32 per share, in the year-earlier quarter, when Pfizer reported a big gain from the sale of its consumer health business to Johnson & Johnson (JNJ - News). Excluding one-time items, Pfizer earned 52 cents per share.
 
8:03am ET
[BRIEFING.COM] S&P futures vs fair value: -23.4. Nasdaq futures vs fair value: -47.4. Futures suggest a significantly lower open for the stock market, although not nearly as sharp as Tuesday’s opening plunge. Apple (AAPL) is weighing on futures trade after the company did not beat expectations by as much as the market had grown accustomed to seeing. The company also issued second quarter guidance below the consensus estimate. Meanwhile, the European Central Bank President made it clear that keeping inflation in check is the ECB’s priority, indicating it may not cut rates. This helped send European markets into negative territory. Asian markets performed better, with the Hong Kong Hang Seng surging 10.7%. Several companies have reported earnings, including Pfizer (PFE) which beat expectations by $0.05 per share.
 
8:31am ET
[BRIEFING.COM] S&P futures vs fair value: -37.1. Nasdaq futures vs fair value: -67.7. Futures fall to session lows in the past half-hour. A significantly lower open is expected. European markets have also slipped. The French stock market CAC 40 Index is down more than 4%. There are no economic releases today.
 
9:00am ET
[BRIEFING.COM] S&P futures vs fair value: -40.6. Nasdaq futures vs fair value: -67.9. As the futures market slides, Treasury bonds are making strong gains. The 10-year note is up 38/32, sending its yield down to 3.31%. Crude oil for March delivery is down 2.0% to $87.40 per barrel. The government’s weekly energy statistics will be released on Thursday instead of Wednesday due to the market closure on Monday.
 
Briefing.com
12:00 pm : The major indices are sharply lower at midday after several companies issued cautious outlooks and the European Central Bank (ECB) President implied he did not have plans to lower interest rates. Stocks are off their opening lows, though, thanks to leadership in financials (+1.8%) and other beaten down names.
ECB President Trichet said "particularly in demanding times of significant market correction and turbulences, it is the responsibility of the central bank to solidly anchor inflation expectations to avoid additional volatility." His comments were interpreted that the ECB is unlikely to follow the Fed's lead and lower rates. This weighed on European and U.S. stock markets.
 
Treasuries gained, pushing 30-year yields to a record low, on speculation the Federal Reserve will keep cutting interest rates to forestall a recession.

The rally drove yields on the 10-year note to the lowest since 2003, while demand for inflation-linked Treasuries fell on speculation a slowing economy will damp increases in consumer prices. Futures on the Chicago Board of Trade show traders are starting to bet the Fed will slash its target by 0.75 percentage point next week to 2.75 percent, amid the longest losing streak in U.S. stocks since 2002.
Click to expand...

http://www.bloomberg.com/apps/news?pid=20601087&sid=aj2ZfM13U2DU&refer=home
 
EBay warns of weaker 2008 results
Wednesday January 23, 4:18 pm ET
By Eric Auchard

SAN FRANCISCO (Reuters) - EBay Inc (EBAY - News) announced on Wednesday the planned departure of long-serving Chief Executive Meg Whitman as it warned that revenue for the first quarter and 2008 would fall below Wall Street expectations, despite strong 2007 year-end results.

http://biz.yahoo.com/rb/080123/ebay_results.html
 
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