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Business News

A Cornucopia of Earnings


Microsoft stock stands at 15 year highs as they reported a second quarter profit that was down 7% and sales were up 17%.  Hitting the bottom-line was Microsoft’s integration of the Nokia phone operations into the company. (Reuters)

Pepsi saw profits drop 2% in the latest quarter as sales were essentially flat. The company raised full year profit guidance upwards in the report to 8% growth.  Like most multi-national companies Pepsi is seeing profit decreases due to currency exchange rates. (Wall Street Journal)

Boeings second quarter profits increased 52% as sales increased 1%.  The delivery of planes was up 7%.  Boeing gave strong future guidance on the increasing demand from low cost airlines and booming airline travel in Asia and China. (Associated Press)

Apple saw 12% profit growth in Q2 as iPhone sales increased almost 13%.  But for the second quarter in a row iPad sales fell, this quarter by 9.2% after falling 16% in Q1.  The company has $164.5 billion in cash. (Wall Street Journal)

 
Regulators are expected to vote today to end a long-time staple of the investment industry—the fixed $1 share price for money-market funds. The SEC may also vote to let money funds block withdrawals during periods of financial stress or impose new fees for withdrawals. This could remove a perceived safe haven for investors.  (CNBC)


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