2 Burst results for "Matthew Bloxsom"
Bloomberg Radio New York
"matthew bloxsom" Discussed on Bloomberg Radio New York
"Of the yield on the two year 4.34% Nathan. Well, Karen, we begin this morning with an earnings related sell off that is on track to wipe off more than $600 billion in market value this week alone, and that's just from America's 5 largest tech companies. The latest culprit is Amazon, those shares are down 13 and two thirds percent in early trading following earnings that fell short. Ed ludlow has details from our Bloomberg 9 60 newsroom in San Francisco. There was a severe after hours reaction to Amazon's forecast for the fourth quarter, the revenue will be between a 140 and a $148 billion significantly below what the street is looking for. And that's a theme of this earnings season, right? Investors punishing companies, not just those missing on the top and bottom line, but those giving tepid forecasts. There was a long list of problems that Amazon really currency continues to be a headwind to the tune of $900 million in the quarter gone and it will continue to impact Amazon going into the final three months of this year. I'd love for Bloomberg news in San Francisco. Thanks. Well, Apple has managed to avoid the tech route shares her up 1% in early trading, though sales of iPhones and services were softer than expected. Apple's revenue and profit both topped estimates still Apple CFO Luca maestri warrens of a holiday slowdown. Overall, we believe total company year over year revenue performance will decelerate during the December quarter as compared to the September quarter for a number of reasons. First, we expect nearly ten percentage points of negative year over year impact from foreign exchange. And apple's CFO Luca maestri says sales of Mac computers will decline substantially stay tuned for analysis on both Apple and Amazon coming up shortly when we speak live with a loop Avengers cofounder gene Munster. In the meantime, Karen, we have some more earnings to get you caught up on. Shares of Intel are up about 5% in early trading, the chip maker's pledging to slash costs to combat a persistent slump in computer demand that's dragging down sales and profit. Shares of Gilead Sciences are up three and a half percent the company boosted its earnings guidance for the full year and shares of Pinterest are higher by 8 and a half percent the social media company reported earnings and revenue that beat estimates. Well, up next Nathan, the focus turns to big oil both ExxonMobil and Chevron report this morning, we get a preview from Bloomberg's Jeff Bellinger. Overall, the third quarter was likely a good one for the oil giants thanks to oil prices that remained elevated through most of the last three months, Bloomberg intelligence says the company's fourth quarter outlooks will be key, it raised the possibility of weaker cash flow for ExxonMobil due to falling crude and gas prices and said there is the potential for slower profit growth at Chevron. ExxonMobil put out a pre earnings release to let investors know that its chemicals and refining businesses were down compared to the second quarter. Jeff Bellinger, Bloomberg daybreak. And Jeff always wait for those earnings, President Biden's demanding oil companies cut prices. That's after Shell reported its second highest earnings ever. President says gasoline prices should reflect what energy companies pay for oil. Last quarter, the 5 largest oil companies made in the last quarter, 70 $1 billion in profit in 90 days. The comments from President Biden drew a sharp response from oil industry leaders, they say refiners don't set the price of the pump and that Washington should leverage U.S. energy production. While Nathan and then their major story were following this morning, closes the book on a 6 month takeover saga. Elon Musk has completed his $44 billion acquisition of Twitter and Bloomberg news has learned he plans to assume the role of CEO today. There will surely be more changes on the way. We get details from Bloomberg, intelligence, analyst, Matthew bloxsom. It's been a lot of speculation about how much Elon Musk is going to change to it. So the room is about some percent job cuts. They reinstatement of people like Donald Trump to the platform, a complete change in the business model over the next 12 months you could see him introduce some kind of subscription tier to the business, all sorts of things could change. I think it's going to be an interesting few days a month and I'm sure we're going to hear quite a bit from him today about his plans. Bloomberg intelligence analyst Matthew blocksom says Musk is expected to remain CEO in the interim, but may eventually see the role in the long term. Let's turn to the U.S. economy now, Karen. We are wrapping up the week with a few notable data points covering inflation, sentiment, and spending. We get more from Bloomberg's Vinny del giudice. The government issues data on September household income and spending today in Wall Street will keep an eye on inflation figures tied to the report. Bloomberg economics is any surprise could influence the course of Federal Reserve interest rate hikes. Meantime, Bloomberg economics says today's University of Michigan consumer sentiment index for late October will remain low by historic standards highlighting recession risks. Also on tap today, the employment cost index and pending home sales should ice Bloomberg daybreak. If any thanks in Asia overnight, it was all about the yen, the currency has rebounded this week, but is reversing that trend this morning weakening to one 47.47 against the dollar. That's after the bank of Japan stood pat on its ultra low interest rate policy, Bloomberg daybreak Asia anchor Bryan Curtis has the story. This is the BOJ pushing back against speculation it might change its tomb, no go. The board left the negative rate, the ten year yield cap in the asset purchases unchanged. This was in line with all 49 economists surveyed. The BOJ did raise the inflation forecast to 2.9% for the year ending in March. It predicted price growth will slow to 1.6% in the next 12 months. The BOJ is walking a tightrope here as the dovish stance puts downward pressure on the yen while the government is spending billions supporting it. Brian Curtis, Bloomberg daybreak. All right, Brian, thank you, local news straight ahead. This is Bloomberg.
Bloomberg Radio New York
"matthew bloxsom" Discussed on Bloomberg Radio New York
"Global Schrader. At first futures are higher following earnings from two tech giants, Amazon shares are surging 12% after the company reported revenue that top estimates and Apple shares are up 2% after it also beat estimates. Bloomberg intelligence, senior analyst Matthew bloxsom has more. They're keeping costs under control. That's been a really big focus for Amazon shareholders recently and optimistic about the next quarter you have been issued a range for revenue guidance that was pretty much consistent with where analysts are expecting it to be. I think for Apple iPhone sales held up better than expected. People expecting New Mexico on in the next quarter and that's going to really help sells and encouraging Tim Cook said they expect to see progress in revenue in that quarter. Matthew blocks him at the Bloomberg intelligence as both Amazon and Apple are positioned for strong performances in the next quarter. And we just gotten results from Chevron and Exxon mobile Karen, the big oil companies both reporting earnings above analyst estimates shares of Intel are down nearly 10% the chip maker's profit in sales miss projections and Roku shares are plunging down more than 24% after it also miss estimates. Economic report is also due out today. The University of Michigan issues its national consumer sentiment index for July. It comes as experts debate whether the U.S. has slipped into a recession, one top official says no, we get the latest lie from Bloomberg's Rene to young good morning. Good morning Karen, treasury secretary Janet Yellen is rejecting the notion that the U.S. has entered a recession. She points to continued job creation, gains in consumer spending, strong household finances, and growth in business. Although she acknowledges a slowdown is needed to tame inflation. We know there are challenges ahead of us, growth is slowing globally, inflation remains unacceptably high. And it's this administration's top priority to bring it down. Treasury secretary Janet Yellen says she remains optimistic about the country's ability to fight inflation. Live in New York, I'm renita young Bloomberg day break. We need a new note on geopolitics this morning President Biden and Xi Jinping have agreed to set up an in person meeting after their long phone call yesterday. And futures this morning are on the rise S&P futures up about 30 points. Now, futures up a hundred NASDAQ futures at 144 thus the 5 things you need to know to start your day brought to you by interactive brokers. And it's now 6 33 on Wall Street 75° in Central Park got an accent on the southbound FDR drive at 63rd street that Peter van's going to tell you about in a few minutes, first Michael Barr is here with what else is going on in New York and around the world, good morning, Michael. Good morning, Nathan, a former state Supreme Court Justice, and a former democratic power broker from western New York, where sentenced to prison for their roles in a bribery scheme which authorities say influenced judicial decisions and official appointments. G Stephen pigeon, the ex chairman of the Erie county democratic committee, received a one year sentence, former justice John, McAllen, received a year and four months. Heavy rains have caused flash flooding and mudslides as storms pound parts of eastern Kentucky, Kentucky governor Andy beshear says that at least 8 people have died from the flooding in the state. We have activated our National Guard in fact, I just signed a state of emergency that will unlock the resources needed and also tell the people of eastern Kentucky that we are going to be there for them. Governor Bashir also says about 20,000 people are without power. New York City mayor Eric Adams met with the newly confirmed director of the ATF Steve dettelbach and the statement Adams says the ATF will be a partner in ending the flow of illegal guns to New York City and in taking down the violent offenders. We want ATF to double the number of ages here in New York City. And we need Congress to support the ATF with the resources to make that happen. Mayor Adams also called for revoking the license of the nation's largest supplier of ghost guns. Vice president Kamala Harris was in Brooklyn yesterday to speak about the Biden administration's investments in underserved