Apple’s market capitalization has plunged by roughly $90 billion since the day before the company published its last earnings report. Recently Bank of America Merrill Lynch downgraded Apple stock from “Buy” to “Neutral” with a new stock-price target of $130 (previously $142). As for the cause of slip – it’s unclear.
Remember ‘Back to the future’ movie, where Michael J Fox was chased by some bad guys? They were all riding hoverboards, floating bravely in the air.
The Finnish tech legend Nokia made another selling move. After trading off its mobile phone division to Microsoft for $7 billion last April and also acquiring France’s Alcatel-Lucent for $16.6 billion, Nokia finally revealed what used to be kept as a secret: the sale of its Here maps service to a group of German car manifacturers – Mercedes’ owner Daimler, BMW and Audi – is already a fact.
The week was dominated by earnings reports, most of them quite positive. Fed’s interest rate decision announced midweek ended with no policy action and only minor changes in the post-meeting statement. Short-term rates have been near zero for more than seven years now.
Monday August 3, 2015
ISM Manufacturing PMI – USD – 3:00pm GMT
The Institute for Supply Management Manifacturing PMI is the leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of economy.
Facebook’s quarterly results on Wednesday topped analyst estimates on nearly every metric.
1.49 billion are the monthly active users (MAUs) for June, with 1.31 billion MAUs on mobile. What the analysts had expected was 1.48 billion, with the mobile MAU number of 1.29 billion.
If you are residing in the UK and like to watch Bloomberg TV, you might have heard the DF Markets name during the prime time ad block.
Chinese shares took a dive of over 8% this Monday, as the country’s government failed to go forth with its plan to prop up valuations, casting a thick shadow of doubt over Beijing’s efforts to fend off a deeper crash.