Morning Market Report - February 18, 2020
Apple Lowers Guidance on Coronavirus Impact
Apple said Monday there was “a slower return to normal conditions than we had anticipated” pointing to issues around its supply and demand.
"The U.S. technology giant has large exposure to China, with around 15% of revenue coming from the region and most of its products, including the lucrative iPhone, being made there.
Apple said all its manufacturing facilities have reopened in China but are “ramping up more slowly than we had anticipated” leading to “iPhone supply shortages.”
"The U.S. technology giant has large exposure to China, with around 15% of revenue coming from the region and most of its products, including the lucrative iPhone, being made there.
Apple said all its manufacturing facilities have reopened in China but are “ramping up more slowly than we had anticipated” leading to “iPhone supply shortages.”
All of its retail stores there have been closed with some still remaining shut. The ones that have opened again are operating in a limited way with “very low customer traffic.”
Source CNBC
Tommy O' Brien's 9 a.m. TigerTV Market Update
Walmart earnings and outlook fall short with weak holiday season
- Earnings per share: $1.38, adjusted, vs. $1.43 expected
- Revenue: $141.67 billion vs. $142.49 billion expected
- Same-store sales: up 1.9% in the U.S. vs. growth of 2.3% expected
Franklin Resources to buy Legg Mason, forming $1.5 trillion asset manager
Franklin said it agreed to acquire Legg Mason for $50 per share, or $4.5 billion, in an all-cash deal and that it would assume about $2 billion of debt.
Morgan Stanley raises its ‘bull case’ on Tesla to $1200
Morgan Stanley raised its “bull case” scenario for Tesla shares to $1,200 a share from $650 a share.
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