Apr 23rd, 2008
Boeing Carries Wall Street to Positive Finish
The market was under pressure from several disappointing earnings reports released on Wednesday, including double-digit losses in the first quarter, from bond insurer Ambac (ABK) and struggling airlines Northwest (NWA) and Delta (DAL). Bearish comments about “tell-tale signs of domestic recession” came way of UPS (UPS), which met first-quarter earnings estimates but reduced its profit forecast.
On the flip side, buying was fueled by Boeing , which easily beat the Street with a 48% increase in first-quarter profit, fueled by commercial-plane strength. Also, Boeing impressed the market by reiterating its 2008 earnings guidance and gave a forecast for 2009 that could come in above Wall Street’s current estimates.
The Dow member earned $1.2 billion in the first quarter, or $1.62 per share, compared to $877 million, or $1.13 per share, a year earlier. Revenue rose 4% to $16 billion, slightly short of Wall Street’s expectations. Analysts expected airplane maker to earn $1.35 per share on $16.5 billion in revenue, according to Thomson Reuters.
Crude oil futures failed to pullback even after the Energy Department reported a larger-than-expected increase of 2.4 million barrels in U.S. crude supplies for last week. However, gasoline supplies decreased by 3.2 million barrels, worse than the 2.3 million decrease expected. On the New York Mercantile Exchange, oil gained 23 cents to settle at $118.30 a barrel.
Also, tech giant Yahoo! (YHOO) beat the Street with a 9% rise in revenue in its first-quarter results, however analysts and shareholders have indicated it may not be enough to raise an offer from Microsoft (MSFT). The software giant made a $44 billion bid for Yahoo and has refused to-date to increase that offer even though Yahoo said it significantly “undervalues” the company.
After Wednesday’s closing bell the tech world turned its attention toward Apple (AAPL), which beat the Street with a 43% jump in second-quarter revenue and topped sales expectations for iPods, iPhones and Mac computers. Amazon.com (AMZN) also released results above the Street’s view after the bell.
Tags: american, water, works
14 Responses to “Boeing Carries Wall Street to Positive Finish”
I agree, although I think it’s part true - I think the creators of these instruments know a more then those who use them, but if I had to put money on it, I’d say even the desginers of these complicated instruments don’t fully understand them or their potential.I know some fairly bright people who work in banking and even they have problems explaining all these concepts to someone in laymen’s terms.What puts Warren Buffet ahead of the rest ishe fully understands the economics behind everything he invests inhe doesn’t get his mind bogged down in jargon - he doesn’t lose sight of the big picturehe does not go with the hypehe will not normally touch anything he doesn’t fully understand, and if he has to, then he will minimise the damage this item can do as soon as he can.(edit: markdown)
and he is now the worlds richest man. Guess he saw it coming.
Yeah but everyone bought into the bullshit Republican mantra that regulation kills industry. If it’s applied equally everyone has to compete the same so it should be virtually a non-issue, so long as you plan on not being corrupt and all. Oh well, c’est la vie.
Never tell someone to do something without telling them how
:RAmen
I still dont see it. The guy made this documentary back in 1992, iirc. No youtube.How much money could he hope to make? It doesnt make any sense.Alex Jones on the other hand - he has a lot of readers. He could have an agenda.
Yes, and yes.
Things like this are boring to the American public. They don’t use their brains for anything, that’s why they get fed shit.
Warren Buffet is a good salesperson of memes that profit him. He knows that he has a huge impact on the market mentality and uses that for maximum profitability. Do you think Mr Buffet is beating the market year after year plainly because of his investing skills? Haa, it is partly because1) Money makes money, and more money makes more money.2) Mr. Buffet is an icon and anything he says has way more than average impact on the market, and he uses that as a leverage for his own marketing.
You have never taken an economics class have you or studied human behavior..
I don’t think anyone is talking about removing risk from life, but about eliminating crooks and liars. And we all know they cannot be completely eliminated, but we can tip the balance back in favour of people and companies that are honest and that provide an actual service.
I know that from interning at a treasury bond trading company (among other things) and seeing the actual auction schedules and info. People from the firm would attend those auctions and buy the T-Bills.Here is some info from wiki though…It’s a complicated process, and i don’t understand all of it either, but i do know that it’s more sound than people make it out to be.
Problem is that the people that actively use these “arcane” instruments (makes finance sound like magic) aren’t in the same intellectual league as those that created them. They have a glossy understanding of what the instrument is but lack the deeper wherewithal.Anyway, those that are in the know and have kept abreast of these instruments are still making money and will weather the storm.
Isn’t ’sound money’ ron paul’s euphamism for the gold standard?I responded to someone with something similar here It’s not exactly what we were talking about, but it’s somewhat related