US Market Closed small lower with technology lagging, saw some profit taking before Apple numbers, Similar to health care, other heavily-weighted groups like consumer discretionary (-0.5%) and technology (-0.9%) weighed on the broader market, while financials (+0.2%) outperformed modestly, On the upside, energy (+0.5%) and industrials (+0.4%) spent the entire session in the green...volume were light @ 650mil...VIX @13.32 +0.98%...Apple and Facebook are up 7.9% and 3.6% respectively in extended session after a rather impressive set of quarterly results. Apple beat on the top and bottom lines (Reports Q2 $11.62 v $10.21e, R$45.6B v $43.7Be) and also shocked investors with a 7:1 stock split effective June 9th. iPhone shipments were also strong at 43.7M units, above 37.4M y/y and 38.5M consensus, while gross margins expanded 180bps to 39.3%. In addition, Apple boosted its dividend payout by 8% to yield 2.5%. Facebook also beat estimates (Reports Q1 $0.34 v $0.24e, R$2.50B v $2.36Be), noting its Mobile MAUs (monthly active users) rose 34% y/y to 1.01B. Mobile ad revenue now represents 59% of all ad revenues, up from 30% in year-ago period. Texas Instruments is up 3.4% after beating on top and bottom lines and guiding Q2 EPS well above estimates... In China, Conference Board leading index accelerated to its fastest rise in 4 months, but resident CB economist cautioned that its "its six-month growth rate remains moderate, which suggests that the improvement has not firmed up yet." Most notably, Conference Board saw the environment for property investment as "dismal" which would remain a headwind for Q2 GDP....Nikkei -0.98%...HS+0.15%...Shanghai -0.45%
Eur$1.3822 S&P Fut +0.24% European Fut +0.45%
Keep an eye on :
- ABE SM : Abertis Prepares to Buy Israel Satellite Co. Spacecom: Expansion
- ACX SM : Acerinox 1Q Net EU25.1 Mln; Analyst Est. EU27.6 Mln
- AI FP : Air Liquide 1Q Sales Meet Est., Confident Can Raise Net Income
- ALO FP : GE Said in Talks to Buy Alstom for About $13b
- ALO FP : Alstom Says It Has Not Been Informed of Any Potential Bid
- CS FP : Axa Shareholders Approve Renewal of de Castries Board Mandate
- BAR BB : Barco Cuts Revenue Forecast as Medical, Control-Room Sales Miss
- BILL SS : BillerudKorsnaes 1Q Profit Beats Est.; Sees Unchanged Demand
- BB FP : Bic 1Q Rev. Misses Ests., Confirms 2014 Targets
- BRBY LN : Burberry Plans to Expand Network in Japan, Nikkei Says
- CABK SN : CaixaBank 1Q Net EU152 Mln; Analyst Est. EU140 Mln
- CAV1V FH : Caverion 1Q EPS, Net Income Miss Ests.; Outlook Kept Unchanged
- DSY FP : Dassault Systemes 1Q IFRS Rev. Beats; Updates 2014 Outlook, 1Q Non-IFRS EPS Beats; Updates 2013 Forecasts
- EDP PL : EDP 1Q Electricity Distribution in Spain, Portugal Rises 0.6%
- GEC FP : Gecina Affirms 2014 Target; Growth Set to Slow
- GTO FP : Gemalto 1Q Rev. EU532m vs EU520m Y/y; Reiterates 2014 Forecast
- HUH1V FH : Huhtamaeki 1Q Sales, EPS Miss Ests.; Sees ‘Stable’ Conditions
- IPS FP : Ipsos 1Q Rev EU343.3m vs EU359.6m Y/y
- LI FP : Klepierre 1Q Rev. EU256.3m vs EU257.2m Y/y
- LOGN VX : Logitech 4Q Gross Profit Rises; Keeps FY15 Guidance
- LONN VX : Lonza Says 1Q Performance Fully In Line With Company Expectation
- ML FP : Michelin 1Q Rev. Falls 2.4% Y/y; 2014 Outlook Affirmed
- MOBB BB : Mobistar Rev. Misses on Handset Sales; Postpaid Loss Accelerates
- NOVN VX : Novartis 1Q Core EPS, Net Meets Est., Sales Miss; Keeps Forecast
- NSG NO : Norske Skog Posts 1Q Profit; Ebitda NK153m vs Est. NK238m
- PUB FP : Publicis Asks France for Tax Ruling on Omnicom Merger
- RI FP : Pernod 3Q Organic Sales Growth Misses Ests.
- SCVB SS : Scania: AP2 accepts Volkswagen's offer
- SU FP : Schneider Electric 1Q Sales Beat Ests.; Reaffirms 2014 Targets
- SEV FP : Suez Environnement 1Q Ebitda Misses Ests.; Confirms 2014 Targets
- SIOE BB : Sioen 1Q Sales Rise 5.2% to EU81.5 Mln, Is Cautious on Outlook
- TLSN SS : TeliaSonera May Sell Yoigo to Vodafone: Reuters Link
- SZU GY : Suedzucker Will Suggest Dividend Cut, CFO Tells Boersen-Zeitung
- TEC FP : Technip 1Q Net EU67m vs Est. EU64.1m; Keeps 2014-15 Guidance
- UCB BB : UCB 1Q Rev. EU840m vs EU799m Y/y; Confirms 2014 Financial Goals
- UG FP : Peugeot Producing 1,000 DS Cars/Month at Capsa, China: Figaro
- FR FP : Valeo 1Q Rev. EU3.11b, Est. EU3.18b; Confirms 2014 Outlook
- WRT1V FH : Waertsilae 1Q Net Beats Ests.; Orders Fall, Outlook Unchanged
- ZO1 GY : Zooplus 1Q Total Sales Rise 30%; Names Juergen Vedie as COO
- ZC FP : Zodiac Aerospace has EUR 500m to EUR 1bn available to pursue acquisition strategy