– AMZN beat on the top line with 23%+ sales growth, with in line EPS muted by increased technology and content expenses. Investors were spooked by guidance for a 2Q loss. – As usual, AMZN divulged little detail, but Bezos
Hershey’s Q1 results this morning struck a familiar note within staples and the broader market this earnings season – miss on revenues, meet or beat on EPS. HSY constant currency organic sales increased 3.2% (2.4% reported, shy of consensus by
The market took in its stride Barclays pre-announcement that 20143Q1 profits would be lower than last year’s GPB1.79bn because of weak FICC revenues; the stock is up over 1% today at GPB2.52 and well above the GBP2.36 of March 11th
– AAPL’s 4.6% YoY sales growth came as a shock, as Chinese demand for the iPhone blew past even the most optimistic forecasts, and drove an unexpected GM pop to 39.3%. – FB delivered 71% sales growth to crush consensus
Despite a strong rally off October 2011 lows, large-bank valuations remain attractive with WFC, JPM, and BAC trading at price-to-book multiples of 60%, 40% and 30% relative to the S&P500 – at or below the low-end of pre-crisis ranges. Valuations
DFS beat on EPS ($1.31 vs. $1.25 consensus) and continued to outpace the industry in loan growth (5% year-on-year in card and student, and 26% and 27% in private-student and personal lending respectively); with double-digit account growth in card, we
The data in this note are extracted from: “Biopharmaceuticals R&D Productivity: Metrics, Benchmarks, and Rankings for the 22 Largest (by R&D spending) US-Listed Firms”, available at www.hiddenpipeline.com Increasing firm size = declining R&D productivity, both across (larger firms produce less
As of Sunday, 6% of the U.S. corn crop had been planted versus a five year average of 14% – a slow start to be sure. Significant progress was made across more Southern locations (Louisiana was virtually completed, for example)
We suspect that expectations were modest for MCD’s Q1 results given the weather in the U.S., recent trends ex-weather and the company’s cautious commentary on margins contained in its last sales release. We believe that the stock’s recent move higher
– NFLX beat on EPS ($0.86 vs. $0.81 consensus) and new subs (4M net adds vs. 3.85M guidance), as its original content strategy is beating on-line and traditional rivals alike. – With the rapid expansion NFLX subs and streaming hours,
