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Apple poised to beat iPhone ASP estimates: analyst

“He raised his price target on Apple shares to $175 from $160 but kept his neutral rating on the stock” writes Emily Bary for marketwatch.com. Apple shares are up 50% over the past 12 months, while the Dow Jones Industrial Average DJIA, +0.21% is up 32%.”IPhone ASP expectations seem very low,” wrote Mizuho’s Abhey Lamba, who predicts an average selling price of between $780 and $790 for the device, above consensus estimates for $752.AAPL, -0.45% shares were little changed in premarket trading Friday after analysts at Mizuho predicted that the…

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People flocking to low-tax states could swing elections…

“The 2017 Census estimates provide a clear manifestation of how states with competitive, free-market policies continue to win the day” reports thehill.com. The new census estimates detail how states have grown since the last full census in 2010.For history buffs, it is possible that high-tax Rhode Island will lose one of its two congressional seats in 2020.Pro-growth policies, such as lighter tax and regulatory burdens, boost state economic activity and attract citizens looking to enhance their wellbeing.The new 2017 Census estimates can be used to give us a year-over-year change from 2016 or,…

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Wall Street Races to Hike Profit Estimates

“We expect upward revisions to continue through earnings season, particularly as guidance trends have remained strong (which was true even prior to tax reform,)” analysts said” writes Kinsey Grant for thestreet.com. That puts Wall Street’s estimates just 2% below BofA Merrill Lynch’s average earnings forecast of $153 one week in.Big banks offered an optimistic start, beating earnings forecasts despite reporting GAAP results impacted by one-off charges related to tax reform. Source: thestreet.com Share This:

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Consumer businesses help Citigroup top Wall Street estimates

“Citigroup on Tuesday reported quarterly profit that topped Wall Street expectations as consumer businesses made up for lower revenue from bond and currency trading” reports nypost.com. While the new tax law is expected to bring long-term gains for banks doing business around the world, several Wall Street banks have said they will be taking a one-time charge in the fourth quarter resulting from the new federal tax law.JPMorgan Chase, the biggest US bank, said on Friday it had taken $2.4 billion in one-time tax expenses, primarily for income earned overseas…

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High expectations will put pressure on companies this earnings season

“Analysts typically lower earnings estimates as the quarter ends, but not last quarter” writes Charles Eshelman for cnbc.com. The numbers have been so strong analysts are raising earnings estimates.He’s encouraged because the 19 companies in the S&P 500 that have reported earnings so far have put up strong results.For the fourth quarter of 2017, 75 S&P 500 companies have issued negative EPS guidance and 35 S&P 500 companies have issued positive guidance, according to FactSet.You can bet investors want to see more companies raising guidance to justify the high prices. Source:…

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Celgene 2018 revenue forecast shy of estimates, shares fall

“Celgene, which left its long-range 2020 forecast unchanged, said it expects 2018 full-year revenue of $14.4 billion to $14.8 billion” writes Midwest Communications Inc for 95kqds.com. Celgene forecast 2018 adjusted earnings to be in the range of $8.70 to $8.90 per share, a midpoint above the average analysts’ estimate of $8.71 per share.For the 2017 fourth quarter, Celgene expects total revenue of $3.48 billion, slightly higher than the average estimate of $3.46 billion.(Reuters) – Celgene Corp , which has announced a deal to buy Impact Biomedicines, on Monday forecast 2018…

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non-farm payrolls report

“The number of U.S. manufacturing jobs could continue to grow at this steady pace well into 2018, given a few factors” writes Kinsey Grant for thestreet.com. For December, the economy added 148,000 nonfarm jobs, falling short of economists’ forecasts of 190,000.The manufacturing sector added 9,000 jobs in September, 23,000 jobs in October and 31,000 jobs in November.For all of 2017, the economy added 2.1 million jobs, slightly lower than the 2.2 million added in the prior year.Last month, manufacturing added 25,000 jobs to its payrolls. Source: thestreet.com Share This:

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Corona beer distributor Constellation Brands sales falls short of estimates

“The company raised its 2018 EPS outlook to $8.50 to $8.60 and its comparable EPS outlook to $8.40 to $8.50” writes Ciara Linnane for marketwatch.com. On a comparable basis, the company had EPS of $2.00, beating the FactSet consensus of $1.89.The company said its board has approved a new $3 billion share buyback program. Source: marketwatch.com Share This:

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