Save from as low as €40 per month
Change modify pause
Markets are called to open higher this morning. This is what's happening today:
What we got to know after the Apple results:
Overall, the company reported results that topped expectations:
Barclays Research comments after the results, 'In line with our lowered estimates from last Friday, Apple issued guidance for $7 in EPS for the June quarter. While this guidance may provide a “jolt” to some investors, it does serve the purpose of reigning in outlandish predictions while maintaining margins above the key 36% level and helps make the stock investable into new product cycles that likely start in September (with builds hitting in June). The share repurchase also could help smooth the ongoing transition from growth to value holders. While the reception of the iPhone 5 and execution of late has tested our patience, the cash announcement, performance and guidance sets Apple up better into product cycles predicated on platform/service innovations. We retain our most recent risk/reward scenarios and $465 target. Maintain Overweight rating.'
Moving on, Credit Suisse, the second-biggest Swiss bank, posted a jump in first-quarter profit as year-earlier charges related to its own debt and bonus payments
weren’t repeated. Net income amounted to 1.30 billion Swiss francs ($1.37 billion), compared with 44 million francs a year earlier. Earnings compared with the 1.27 billion-franc mean estimate of 12 analysts. Chief Executive Officer Brady Dougan has announced 4.4 billion francs in cost-cutting programs since 2011, which he plans to complete by the end of 2015 to boost earnings. The company last year combined all its money-managing units into one division to boost efficiency and reiterated its commitment to a full-fledged investment bank as Swiss competitor UBS AG scales back.
For more information on Apple and Credit Suisse or other stocks and bonds we follow, contact our offices on 25688688.
Good day and happy trading!
You are signing up to receive news, updates, general market announcement, articles and product or service marketing. By signing up you are consenting