News 

Microsoft reports net income of $8.9 billion as cloud business drives profits

“Revenue grew in all three segments: product revenue, cloud revenue, and Enterprise Services” reports medianama.com. The tech giant’s operating income surged 35% to $10.4 billion this quarter from around $7.7 billion in Q4 FY2017.The company’s total revenues for the quarter stood at $30.1 billion, up 17% from $25.6 billion in Q4 FY2017.While Microsoft did not disclose exact revenue from Azure, KeyBanc analysts had estimated that Azure on its own would yield $2.05 billion of the Commercial Cloud revenue, CNBC reported.Azure revenue, although grew sharply at 89% YoY, it fell from…

Read More
News 

Microsoft continues to rake it in as 4th qtr earnings numbers are released

“Microsoft announced its 4th quarter earnings for fiscal year 2018 just a few minutes ago, and as expected, the company continues to ride the growth of Azure, the success of Office 365 and now Microsoft 365, and some bounce back on PC sales numbers to mark another quarter of strong earnings results” writes Kip Kniskern for onmsft.com. The numbers are up across the board, with revenue at $30.1B for the quarter, up 17% over Q4 last year. We’ll have more on the earnings as the numbers are filtered and dissected. Source:…

Read More
News Regulators 

Trump Takes a Rare Presidential Swipe at the Fed

“If the Fed raises rates too quickly, it risks slowing growth at a time when wages have stagnated for most American workers, after accounting for inflation” reports nytimes.com. Historically, presidents have preferred lower rates, because faster economic growth typically helps incumbents win re-election.But if it raises rates too slowly, some Fed officials fear the economy could “overheat” and ignite a rapid spiral of price increases that could eventually prompt a recession.But as the economy finally gains steam after years of sluggish growth in the wake of the Great Recession, the…

Read More
News 

Fed chair Jerome Powell is whistling past 2 looming threats to the US economy

“Still, a possible yield curve inversion “might get them to pause a little earlier,” James Kahn, Yeshiva University economics professor, told Business Insider” writes Pedro Nicolaci Da for businessinsider.com. The yield of a bond partly reflects expectations for interest rates.That’s the interest rate level that neither stimulates growth or slows it down — something that changes over time and which Fed officials try hard to gauge. Source: businessinsider.com Share This:

Read More
News Stocks 

Shares of eBay drop 9 percent after weak growth, lowered revenue forecast

“We expect eBay shares to revisit recent lows, as the headwinds in StubHub was an unexpected development,” Credit Suisse said” writes Michael Sheetz for cnbc.com. Shares of eBay fell 9 percent in trading Thursday after the company reported sluggish growth in its marketplace business and lowered its revenue forecast for the the rest of the year.The online marketplace reported second-quarter earnings of 53 cents per share, while revenue came in at $10 billion. Shares of eBay were nearly flat for the year before its second-quarter earnings report, up 0.6 percent…

Read More
News 

Unilever sales growth slows on price drops, strike

“For the first half, Unilever reported underlying sales growth of 2.5%, driven almost entirely by volume” writes Saabira Chaudhuri for marketwatch.com. For the first half, Unilever reported underlying price growth of just 0.2% while volumes climbed 2.2%.LONDON–Unilever PLC (ULVR.LN) on Thursday reported anemic sales growth for the first-half of the year as results were capped by strikes in Brazil and prices declines in Europe and North America.Unilever, like other consumer-goods companies, has long relied on selling new or improved versions of products at higher prices to boost growth. Source: marketwatch.com Share…

Read More
News 

Unilever’s profit dips amid Brazilian truck strike and currency fluctuations

“The Anglo-Dutch maker of Ben & Jerry’s ice cream, Dove soap and Hellmann’s mayonnaise said underlying sales rose 1.9 percent, excluding the recently divested spreads business” writes Marco De Swart for cnbc.com. On that basis, analysts on average were expecting growth of 2.3 percent. “What you see behind these results is actually a strengthening again of the volume component which for us is the most important,” Unilever CEO Paul Polman told CNBC’s Willem Marx on Thursday. “When we had a lot of pricing (power), analysts were worried about us not…

Read More
News 

Gold inches higher as US dollar eases

“Gold prices rose slightly early Thursday, after hitting a one-year low in the previous session, as the U.S. dollar eased off a three-week high” reports cnbc.com. Spot gold was up 0.1 percent at $1,227.55 an ounce at 0058 GMT. The metal fell to its lowest since mid-July 2017 at $1,220.81.The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent at 95.022 after hitting a three-week high of 95.407 on Wednesday.U.S. gold futures for August delivery were little changed at $1,227.40 an ounce. Source:…

Read More
News 

Trump adviser Kudlow optimistic that boom times will continue

“A more volatile stock market and trade war worries have accelerated concern that the end of the boom times is near” reports nypost.com. National Economic Council director Larry Kudlow painted a rosy picture of the economy Wednesday — even as the US is embroiled in the beginning of a trade war. “There’s no recession in sight right now,” Kudlow said at an investor conference in New York. Source: nypost.com Share This:

Read More
News 

Kudlow says economic growth could top 4% for ‘a quarter or two,’ more tax cuts could be coming

“As part of the administration’s plan to grow the economy, Kudlow said there would be additional rounds of tax cuts ahead” writes Jeff Cox for cnbc.com. The administration has used a mix of tax cuts, spending increases and regulatory rollbacks in an effort to goose the economy out of what Kudlow characterized as a “growth recession” after the financial crisis.Asked whether the administration is considering more tax legislation following the cuts passed late last year, Kudlow said there could be a “2.0 and 3.0 and a 4.0.”. Larry Kudlow, President…

Read More