U.S. Morning Call: Boeing revs its earnings engines
Wednesday, April 24, 2013 - 04:17
Apr 24 - Boeing reported non-GAAP earnings of $1.73 and $18.9 billion of revenues, and reaffirmed 2013 guidance.
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Morning copper Wednesday its earnings mania all over again with -- Boeing reporting results just minutes ago let's take a look. They beat on revenue may -- -- earnings per share that view was 149. And the court was 173. They made no mention of sequestration. And going to no special charges on the lithium ion battery issue. Since losing a British Airways ordered to Airbus on Monday analysts say -- may have to ready in new mini Jumbo jet by the Paris air show in June. They say Boeing's loss on the dreamliner means it means to pick up sales of smaller planes. Shares of Boeing looking slightly up in the premarket. From planes automobiles. Hard reporting better than expected first quarter results today. Newer models boost to the auto makers profit in North America to its highest level in nearly thirteen years shares of -- up over 2% in the premarket. And strict reporting a smaller than expected loss of 21 cents per share in the first quarter on the earnings call later today investors likely to focus on a merger saga. Additions Softbank have me competing bids in the wireless provider. Shares of sprint are up over 20% since off -- it first came in last October. Apple's first drop in profit in more than a decade triggering an avalanche are falling price targets. At least eleven brokerages including JPMorgan Citigroup Deutsche Bank. Following their targets JPMorgan analysts -- his cut is a reflection of Apple's much lower revenue outlook. -- not taking a step further cutting it's rating to market perform from outperform. Analysts not the only one disappointed by Apple's outlook the company is loyal customers will have to wait till the all maybe even next year for any new products. And even know apple dumping a dividend on its investors making it the largest dividend paying company in the world those investors like -- still feeling the pain. The stocks down roughly half -- percent in premarket the above that 400 dollar level. But while many analysts are adjusting their price targets some also believe the stock can only go up from here I. I think -- -- in a bottoming out of apple. You know key takeaways here is that. That this is. Kind of a wake up call -- in a lot of ways this is there a realization on their part the invasion as. Has not kept up with the pace of innovation of its competitors. Where a turnaround point for apple at this point. In our stocks to watch today Google buying startup wavy for about thirty million in cash. -- is an act that allows users to some -- news articles into a few sentences. Google -- comes after apple had expressed interest in buying it and several weeks ago Yahoo! paid a similar amount to acquire rival -- only. The newsreader founded by eighteen year old nick Valencia. Another stock on our radar today NASDAQ the exchange may set aside ten million dollars to possibly reimbursed firms harmed in Facebook's spots IPO last may. Nasdaq's first quarter profit came in lower as a result. And lastly checking in on the markets US stock futures point to a higher open. They're recovering from sharp decline sparked by a fake AP tweet about explosions at the White House that briefly wiped out 200 billion dollars of value from US stock markets. US durable goods data add a little later today ordered -- but dipping in March by nearly 3%. Which some analysts say could be due to sequestration. And take a look at gold this morning touching 1420 announced. The US man says it has suspended sales of some of its gold points and demand surged on a historic plunge in prices. The -- in gold prices weighing on Barrick Gold today as one of the world's top producers reported an 18% drop in profit for the quarter. That's all -- Wednesday morning call remembered follow us on Twitter at Reuters Insider and get more great videos at Reuters dot com slash latest. I'm Lisa Bernhard it's.
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