Share News: Apple Results Show Increased iPhone 4 Sales
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A daily look at the leading shares in the UK, US and the rest of the world sponsored by paddypowertrader. For today’s view see Shares Markets.
Share Trading - 19 Oct 2010
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UK Share Trading News
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- BP/Premier Oil – Premier Oil is mulling a USD 500m bid for BP’s gas production business in Pakistan, according to people familiar with the talks. (Times)
- Xstrata – Co. said its Q3 mined Copper output up 10%, Q3 Zinc in concentrate output down 10%, and Q3 mined Nickel output up to a record 21%. (RTRS)
- Autonomy Corporation – Co. increased Q3 profit before tax (adjusted) to USD 86.3m, up 34% from Q3 2009, and said the co. is confident in maintaining its view of the outlook for demand. Co. said it expects to continue to deliver good EPS growth in 2011, with upside to current market consensus. (RTRS)
- Bunzl – Co. said its revenue was up 6% on year, and up 3% year to date, and said trading is in line with expectations. It further said that it has substantial funding available. (Sources)
- Whitbread – Co. said its underlying profit before tax was GBP 151.8m up 28.4%. It also said that a strong like for like and overall sales show how well the co. has positioned itself in challenging market conditions. It further said that while the economic outlook remains uncertain, it is confident in the outturn for the year. (RTRS)
- ENRC – Co. has announced iron ore acquisition in Brazil, with deals having a total cash consideration of USD 304m. (Sources)
- Companies paying Dividend: Diageo (GBP 0.2350)
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US Share Trading News
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- Despite opening lower, equities have crept higher with the DJIA and the S&P 500 now trading in positive territory whilst the NASDAQ 100 lags its peers.
- Financials are the best performing sector after Citigroup (+4.30%) reported better than anticipated earnings. Bank of America (BAC) rallied late into the close after WSJ reported that the bank plans to amend documents in 102,000 foreclosure actions in 23 states. The WSJ also expects new affidavits to be resubmitted to courts by October 25, by which time foreclosure sales will continue in those states.
- Finally, at the closing bell DJIA closed up 0.73% at 11143.69, S&P 500 closed up 0.72% at 1184.71 and NASDAQ 100 closed up 0.31% at 2104.15.
- IBM – Q3 EPS USD 2.82 vs. Exp. USD 2.75 and Q3 revenue USD 24.27bn vs. Exp. USD 24.15bn. Co. boosts forecast, says sees 2010 EPS to at least USD 11.40 vs. Exp. USD 11.30. Co. says Q3 gross margin 45.3%, Q3 gross profit USD 11.0bn and Q3 net USD 3.59bn. Says Q3 services backlog of USD 134bn, Q3 signed services contracts of USD 11.0bn (a third straight drop) and Q3 global technology services revenue USD 9.50bn.
In addition, says Q3 software revenue USD 5.15bn, Q3 global business services revenue USD 4.57bn and Q3 systems and technology revenue USD 4.33bn. (RTRS) Co. shares were down 4% in after market trade following co. posting its third straight quarterly drop in new contracts.
- Apple – Q4 EPS USD 4.64 vs. Exp. USD 4.10, Q4 revenue USD 20.34bn vs. Exp. USD 18.90bn. Co. says Q4 iPhone units sold 14.1m, up 91% vs. Exp. 11.7m; Q4 iPod units sold 9.05m, down 11%, Q4 Mac units sold 3.89m and Q4 iPads units sold 4.19m vs. Exp. 4.81m. Says Q4 gross margin 36.9% and Q4 operating income USD 5.45bn, Q4 gross profit USD 7.51bn and Q4 operating expenses USD 2.07bn, Q4 net USD 4.31bn. Also says sees Q1 EPS USD 4.80 vs. Exp. USD 5.03 and sees Q1 revenue USD 23bn vs. Exp. USD 22.34bn. (RTRS/Sources)
Apple share down 6.3% in after-market trade after co. forecast profit for the current quarter that will rise less than analysts predicted as supply constraints hamper sales of the iPad computer.
- US Mortgage Servicers – Fed’s Lockhart says Fed doing quite a bit about foreclosure issue, says will perform ad hoc exams of the mortgage servicing institutions and banks with big servicing flow. Says don’t think we quite know yet whether there is fraudulent behaviour involved on foreclosure issue. (RTRS)
- US Homebuilders – NAHB chief economist Crowe says homebuilder confidence remains ‘long way from good’. Says foreclosure freeze may boost new home sales in the short term and says uncertainty threatens overall housing market. In addition, says homebuilders’ Q4 should be better than Q3. (Sources)
- Bank of America – Co. begins amending documents in 102,000 foreclosure actions, says expects less than 30,000 foreclosure sale delays. (WSJ) Says affidavit submission follows review of its foreclosure processing. (RTRS)
- Morgan Stanley – Chinese regulators have approved the sale of co.’s 34.3% stake in China International Capital Corp, according to sources. (Shanghai Securities News)
- Johnson & Johnson – Co.’s McNeil Consumer Healthcare unit is recalling one product lot of Tylenol 8-hour caplets containing 127,728 bottles, after complaints from consumers of a musty or mouldy odour. (Sources)
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European Share Trading News
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- Commerzbank – According to unidentified financial sources, co. was more profitable than expected during the summer. (Sueddeutsche Zeitung)
- Infineon – Co. may have to correct errors in its balance sheets from the last two fiscal years. (FT Deutschland) In other news, co.’s sale of its telecom division is likely to be closed in the first quarter of 2011. (Die Welt)
- Deutsche Telekom – Co.’s German head sees cooperation of the largest mobile operators as possible. (FT Deutschland)
- Deutsche Post – Co.’s CEO still expects the co. to post full year EBIT of between EUR 1.9-2.1bn, which would represent meeting the improved guidance given in early August. (Boersen-Zeitung)
- BMW/Peugeot – Co.s plan to expand the partnership on hybrid vehicles. (Sources)
- Deutsche Postbank – Co. has put its Indian housing finance business up for sale for an expected value of USD 340m. (Business Standard)
- Peugeot/BMW – Co.s plan to expand the partnership on hybrid vehicles. (Sources)
- Zurich Financial – Moody’s announced yesterday that it had placed on review for possible upgrade the insurance financial strength rating (A1) and debt ratings of Zurich Insurance Company. The review follows the improvement in the credit profile of the Zurich Group. (Sources)
Data provided by RANsquawk.
The above comments do not constitute investment advice.
Paddypowertrader, RANsquawk and Clean Financial do not accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
All reasonable efforts have been made to present accurate information.
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Article edited by paddypowertrader which is a trading name of London Capital Group Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 182110.
'Share News: Apple Results Show Increased iPhone 4 Sales' edited by paddypowertrader, updated 19-Oct-10
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