Category Archives: Earnings

Macro Notes from the IBM Earnings Call

Posted on October 17, 2011 by macromon

Diluted EPS: GAAP: $3.19, up 13 percent; Operating (non-GAAP): $3.28, up 15 percent; Revenue: $26.2 billion, up 8 percent, up 3 percent adjusting for currency; Net income: GAAP: $3.8 billion, up 7 percent; Operating (non-GAAP): $4.0 billion, up 9 percent; … Continue reading →

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Macro Notes from the Alcoa Earnings Call

Posted on October 11, 2011 by macromon

Our macro takeaway from the call is that Europe is rolling over.  No normal September bounce from the seasonally slow August.  The company also notes what they see as a temporary slowdown in China.   Alcoa missed and the stock got … Continue reading →

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Macro Notes from the GM Sep Sales Call

Posted on October 5, 2011 by macromon

We forgot to post this yesterday.  The macro issues raised by GM in their September sales conference call.  All are direct quotes from GM management. General Motors – October 3 September was another very strong month for General Motors and … Continue reading →

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Short-term Tricks for a Long-term Structural Crisis

Posted on October 4, 2011 by macromon

Good interview with Jeffrey Sachs on CNBC today.  He nails it 1:26  into the interview: We are fighting a long-term structural crisis with short-term tricks, like stimulus and temporary tax cuts. It’s not working…. The solution is actually to pull … Continue reading →

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Macro Notes from the WalMart Conference Call

Posted on August 16, 2011 by macromon

A pretty good insight into the lower end consumer.  See here for the full transcript. Key Metrics EPS from continuing operations of $1.09, up 12.4 percent over the $0.97 per share from continuing operations last year. EPS guidance range of … Continue reading →

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Macro Notes from the IBM Conference Call

Posted on July 18, 2011 by macromon

The following are direct quotes from today’s IBM earnings conference call, which was fairly upbeat.  Note, however,  more than 50% (7 of the12 percent) of the company’s revenue growth was due to currency effects. Key Metrics In the second quarter, … Continue reading →

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Macro Notes from the Kellogg’s Conference Call

Posted on May 4, 2011 by macromon

We find it fascinating how companies are engaging the consumer.  Check out how Kellogg’s is doing it with digital media.   The following are direct quotes from company executives from today’s earnings conference call. Digital Media Advertising – “Engaging the Consumer” … Continue reading →

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Apple: Break Out the Pom Poms

Posted on April 21, 2011 by macromon

We’re gonna put on the pom poms for Apple again here.   Last night the company reported $65.6 in cash and marketable securities, which equates to around $71 per share.    Adjusting for the cash and assuming a conservative $27 in earnings … Continue reading →

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Apple Juices the Shorts

Posted on April 21, 2011 by macromon

The past week we have been blasted with e-mails and comments about Apple’s head & shoulders pattern, how it’s going to $280, blah, blah.   This stock is a fave of the MoMo boyz and the leveraged set, which is a … Continue reading →

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Macro Notes from the Intel Conference Call

Posted on April 20, 2011 by macromon

Intel put up some surprisingly strong numbers as reflected below.  The stock traded up as much as 7 percent in after hours.  Holding gains after earnings has proven elusive in the past.  It will be interesting to see if “this … Continue reading →

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