Apple today updated its investor relations page to announce that it will share its earnings results for the second fiscal quarter (first calendar quarter) of 2018 on Tuesday, May 1.
The earnings release will provide a look at sales of the iPhone 8, iPhone 8 Plus, and iPhone X following its record January quarter that saw the company sell 77.3 million iPhones.
Apple’s guidance for the second fiscal quarter includes expected revenue of $60 to $62 billion and gross margin between 38 and 38.5 percent. Apple will beat its Q2 2017 earnings results based on those guidance numbers.
Apple’s quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacRumors will provide coverage of both the earnings release and conference call on February 1.
(Reuters) – CBS Corp plans to make an all-stock offer for Viacom Inc that values the U.S. media company below its current market valuation, people familiar with the matter said on Monday, indicating that tough negotiations lie ahead.
(NEW YORK) — Stocks tumbled Monday after China raised import duties on a number of U.S. exports, bringing the two economic giants closer to a full-on trade conflict. Big technology companies, long investor favorites, suffered heavy losses.
The deepening worries over newly protectionist U.S. trade policies combined with blowback toward technology companies, including Facebook’s ever-widening privacy scandal, have prompted investors to pull money out of the market. That has meant steep drops in former big winners including Netflix, Microsoft and Alphabet, Google’s parent company.
Among other recent winners, Intel dove 6.1 percent following a report in Bloomberg News that Apple plans to start using its own chips in Mac computers, and Amazon sank following more broadsides from President Donald Trump on Twitter.
The Dow Jones industrial average fell as much as 758 points, although major indexes regained some of their losses later in the afternoon. The Dow lost 458.92 points, or 1.9 percent, to 23,644.19. The S&P 500 index gave up 58.99 points, or 2.2 percent, to 2,581.88.
The Nasdaq composite slumped 193.33 points, or 2.7 percent, to 6,870.12. The Russell 2000 index of smaller-company stocks fell 36.90 points, or 2.4 percent, to 1,492.53.
Kate Warne, an investment strategist for Edward Jones, said the step by China is small but significant.
“The fact that a country has actually raised tariffs in retaliation is an important step in the wrong direction,” she said. “The tariffs imposed by China today lead to greater worries that we will see escalating tariffs and the possibility of a much bigger impact than investors were anticipating last week. And that could be true for Mexico as well as for China.”
Food maker Tyson dropped 6.2 percent after China raised import duties on a $3 billion list of U.S. goods in response to the tariffs on imported steel and aluminum that President Trump ordered last month.
Amazon fell another 5.2 percent. The online retailer has slumped with the market recently, although it’s still up about 17 percent in 2018. Trump has repeatedly criticized Amazon over issues including taxes and Amazon’s shipping deals with the U.S. Postal Service.
Jack Ablin, chief investment officer of Cresset Wealth Advisors, said Amazon is just the latest company to falter after it drew scrutiny from the government, as Facebook and Alphabet have slumped recently on data privacy concerns.
“It seems like the long arm of the government is interfering with investors’ expectations,” he said. “Investors are pricing in an escalating trade war and regulation of tech companies.”
Microsoft dropped 3 percent and Alphabet, Google’s parent company, shed 2.4 percent.
After a month of public negotiations between the U.S. and several other countries, Monday marked the first time another country has placed tariffs on U.S. goods in response to the Trump administration’s recent trade sanctions.
The price of gold climbed 1.2 percent to $1,343.60 an ounce and silver jumped 2 percent to $16.60 an ounce as some investors took money out of stocks and looked for safer investments.
Health insurer Humana was one of the market’s few winners following more reports Walmart could buy the company or create a new partnership with it. Humana is a major provider of Medicare Advantage coverage for people 65 and older. Humana gained 4.4 percent while Walmart slid 3.8 percent.
Bond prices finished little changed. The yield on the 10-year Treasury stayed at 2.74 percent after a sharp decline last week.
Energy companies skidded as benchmark U.S. crude lost $1.93, or 3 percent, to $63.01 a barrel in New York. Brent crude, used to price international oils, slid $1.70, or 2.5 percent, to $67.64 a barrel in London.
Wholesale gasoline dropped 5 cents to $1.97 a gallon. Heating oil fell 4 cents to $1.98 a gallon. Natural gas slid 5 cents to $2.68 per 1,000 cubic feet.
Copper rose 2 cent to $3.05 a pound.
The dollar declined to 105.85 yen from 106.50 yen. The euro edged up to $1.23 from $1.2306.
Trading in France, Germany and Britain was closed for Easter. Japan’s benchmark Nikkei 225 lost 0.3 percent and South Korea’s Kospi fell almost 0.1 percent. The Hang Seng in Hong Kong was closed as well.
(Reuters) – The U.S. Justice Department on Monday sought court permission to participate in settlement negotiations aimed at resolving lawsuits by state and local governments against opioid manufacturers and distributors.
WASHINGTON (Reuters) – The largest association of accounting professionals on Monday asked the U.S. Treasury Department and Internal Revenue Service (IRS) to clarify whether the new Republican tax law allows continued deduction of business meals and other work expenses.
MEXICO CITY (Reuters) – Mexico’s interior minister said on Monday that he spoke to the U.S. homeland security secretary Kirstjen Nielsen, agreeing to work together to study how to best address the flow of migrants.
VICTORIA — A Nova Scotia man is welcome to stay once again at Victoria’s stately Fairmont Empress hotel more than 17 years after seagulls trashed the man’s hotel room in a frenzy over pepperoni.
Nick Burchill of Dartmouth, N.S., says in a letter he sent to the hotel that he was young and immature in 2001 and unaware of the aggressive nature of west coast seagulls, especially when tempted with a suitcase full of fresh pepperoni.
Tracey Drake, the hotel’s public relations director, says they first believed they were dealing with an April Fools’ Day prank, but a check of the records confirmed the seagull story and Burchill’s permanent ban.
Damage beyond description, hotel says
Drake says Burchill returned to the Empress last week to personally apologize for the brouhaha where a flock of pepperoni-fuelled seagulls trashed his room after smelling the sausage left near an open window.
In the letter posted to Facebook, Burchill says he brought an entire suitcase of pepperoni for his friends from the Navy. There was no fridge in his room, so he left the window open thinking the April air would keep the pepperoni fresh.
“I remember walking down the long hall and opening the door to my room to find an entire flock of seagulls in my room. I didn’t have time to count, but there must have been 40 of them and they had been in my room, eating pepperoni for a long time,” he wrote.
“In case you were wondering, Brothers’ TNT Pepperoni does NASTY things to a seagull’s digestive system. As you would expect, the room was covered in seagull crap. What I did not realize until then was that Seagulls also drool. Especially when they eat pepperoni … Now remember that I have just walked into the room and startled all of these birds. They immediately started flying around and crashing into things as they desperately tried to leave the room through the small opening by which they had entered.”
Less composed seagulls are attempting to leave through the other CLOSED windows. The result was a tornado of seagull excrement, feathers, pepperoni chunks and fairly large birds whipping around the room.
Drake says the damage to the room was beyond description, but all is forgiven and Burchill is back on the guest list.