TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Midday Report: Crude Recovers After Surprise Inventories Drop; Apple Stumbles
    Stocks pulled back from losses with the S&P 500 and Dow Jones Industrial Average turning positive. Apple contributed to major losses early in the day after quarterly sales fell for the first time in 15 years. Crude oil clawed back from losses of more than 1% after a surprise drop in domestic inventories. A weekly read on crude stocks showed a drop of 600,000 barrels in the past week. New home sales moved higher in September, reaching their second-best level since the recession. However, a number of previous months were downwardly revised, pointing to a slower recovery despite red-hot demand. Coca-Cola jumped after a smaller-than-expected drop in quarterly profit and sales. Revenue fell nearly 7% as foreign exchange weakness took a 2% hit to the topline.
    2 min
  • Stocks Slip on Lackluster Apple Results; Chipotle Shares Crash on Earnings
    U.S. stocks pulled back early Wednesday amid worries about Apple . Apple's latest quarterly per share earnings beat Wall Street's forecasts by two cents and revenue matched estimates, but iPhone revenue fell 13% to $28.16 billion. The company sold 45.5 million iPhones during the quarter, a 5% decline year over year. In other news, Chipotle shares sunk after reporting a 21.9% drop in third quarter comparable store sales, while analysts were expecting a drop of 18.7%. The restaurant chain is still reeling from its 2015 E.coli outbreak. Southwest Airlines posted earnings of $0.62 a share for its most recent quarter, down from $0.88 a share in the same quarter a year ago. The results were affected by a technology glitch over the summer that resulted in flight cancellations and delays. TheStreet's Scott Gamm reports from Wall street.
    2 min
  • Apple Reports Revenue Decline for First Time in 15 Years
    Apple ( ) says it was caught off guard by demand for the iPhone 7. The tech giant says the holiday quarter, which we are in now, will show the full impact of iPhone 7 sales. Still, Apple shares are under pressure as it reported the first annual revenue decline in 15 years. Services, like the app store, Apple Music, and Apple Pay was the only product segment going up. Chipotle Mexican Grill ( ) is still struggling to win back customers after a food borne illness scare last year. It's profit fell 95% and same store sales were down 22%, worse than expected. Chipotle is also not moving forward with its 'Shophouse' restaurant concept, which focused on Thai cuisine. Panera Bread ( ) though topped Wall Street estimates and raised its full year guidance. Recent steps at Panera including its digital platform and healthier menu have helped boost sales.
    2 min
  • Closing Bell: Apple Reportedly Working on Car Software; Stocks Slide on Earnings Mix
    Stocks held in the red through to the end of the day after sales warnings from Caterpillar and Under Armour spooked investors. Crude oil added to losses after closing 1%, under $50 a barrel. Sprint slumped despite a better-than-expected quarter in which its postpaid phone churn reached a record low. The telecom narrowed quarterly losses and raised its full-year operating income target. DuPont also enjoyed a positive quarter, posting adjusted earnings more than double the same period a year earlier. The chemicals company also boosted its full-year profit estimates. Apple is reportedly testing out a car operating system which could operate self-driving vehicles. Apple reportedly has dozens of engineers working on the software in Canada.
    2 min
  • Midday Report: Caterpillar Warns of Soft 2017 Sales; Under Armour Slumps
    Stocks returned to the red after a choppy morning as a sales warning from Under Armour dragged on other apparel stocks. Calvin Klein parent PVH Corp , Ralph Lauren and Hanesbrands followed Under Armour lower. Visa moved lower despite a jump in quarterly profit driven by an increase in credit card spending. Growth was also partly attributed to its purchase of Visa Europe. Caterpillar has warned that soft sales could continue next year. The manufacturing equipment company said it expects little growth over fiscal 2017 after a challenging 2016. Consumer confidence fell back in October, though remained at a level indicative of healthy spending. Confidence in current conditions and expectations both mellowed. Analysts expect the end of the election season to boost sentiment in coming months.
    2 min
  • Stocks Rise Ahead of Apple's Earnings; Under Armour Shares Sink
    U.S. stocks moved slightly higher early Tuesday as the markets awaited quarterly results from Apple , which are released after the markets close. Apple is expected to report earnings of $1.65 a share, compared to $1.96 during the same quarter a year ago. Revenue of $46.9 billion is expected; down from $51.5 billion a year ago. Analysts are still bullish on Apple's stock. Under Armour shares sunk by some 15% after the company said its gross margin dropped to 47.5% in third quarter, compared to 48.8% in the same quarter in 2015. For its third quarter, the company topped Wall Street's estimates on both the top and bottom lines. Procter & Gamble reported earnings of $1.03 a share for its most recent quarter, eclipsing forecasts of $0.98. Revenue was unchanged year-over-year and met analysts' expectations. China sales grew 2% and the company said UK sales were "challenging" amid its pending exit from the European Union. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • DuPont Beats Earnings Expectations, Twitter may be Close to Layoffs
    DuPont ( ) earnings came in at 34 cents a share versus 21 cents a share expected. Revenue at the chemical company was $4.9 billion when $4.8 billion was expected. DuPont also raised its 2016 adjusted earnings per share. DuPont is one of 6 Dow Jones Industrial Average companies to report earnings today. Twitter (TWTR) is reportedly ready to go through another round of layoffs. Bloomberg reports the job cuts could be announced this week. According to the report, the layoffs will shrink Twitter's workforce by 8%, or 300 employees. The announcement could come Thursday morning when Twitter announces its earnings. Anheuser Busch ( ) tried out a 'driverless beer run'. The beer giant hauled a trailer loaded with beer 120 miles in an autonomous driving truck, completing what it believed to be the first commercial shipment by a self-driving vehicle. The trip happened last week in Colorado.
    2 min
  • Closing Bell: U.S. Stocks End on a High, VF Corp Slumps Despite Earnings Beat
    Wall Street ended in the green, with the electronic technology sector leading, as the S&P 500, Nasdaq, and the Dow Jones saw over 0.5% gains amid strong earnings and a flurry of mergers and acquisitions. But oil saw a close to 1% drop as Iraq's oil minister said that his country should be exempt from OPEC production cuts due to its war with Islamic State militants. TD Ameritrade's stock fell after it said that it entered into a "definitive agreement" to purchase online brokerage firm Scottrade Financial Services in a cash-and-stock deal valued at $4 billion. TheStreet's Jim Cramer said he applauded the deal. Finally, VF Corp. , an apparel and footwear company with brands including North Face, Vans and Timberland slumped after beating third-quarter estimates, but sales for the quarter fell 1% from a year ago and the company cut its full-year revenue outlook. TheStreet's Valerie Young reports from Wall Street.
    2 min
  • Midday Report: AT&T Shares Fall Amid Deal Talk; B/E Aerospace Jumps on Acquistion
    Stocks are climbing Monday as mergers and acquisitions -- led by AT&T's blockbuster agreement to buy Time Warner -- and earnings reports dominate market movement, while positive manufacturing data also gave a boost. AT&T's shares fell as it agreed to buy Time Warner in an $85.4 billion deal announced this weekend. The telecommunications company still has to pass regulatory approval amid politician's negative rhetoric surrounding the deal. T-Mobile's shares jumped after reporting adjusted earnings of 27 cents a share, beating estimates of 21 cents a share. The mobile communications service company said total revenue increase 17.8% to $9.2 billion and it added 2 million customers during the quarter. And in a deal valued at $8.3 billion, including debt, Rockwell Collins agreed to acquire B/E Aerospace . Rockwell Collins is trying to increase its exposure to the commercial aircraft cabin. On the deal news, Rockwell Collins stock fell, while B/E Aerospace shares jumped. TheStreet's Valerie Young reports from Wall Street.
    2 min
  • U.S. Stocks Surge on AT&T and Time Warner Deal; TD Ameritrade to Buy Scottrade
    U.S. stocks rose on a busy merger Monday. Over the weekend, AT&T agreed to buy Time Warner for $85.4 billion. Time Warner owns media assets such as HBO, CNN and TBS. The deal is reminiscent of Comcast's 2011 acquisition of NBCUniversal. Analysts say the deal shows just how powerful content players are. TD Ameritrade is set to purchase Scottrade, the online brokerage firm, for $4 billion in cash and stock. TD Ameritrade expects $450 million in annual cost savings after the merger. Apparel company V.F. Corp. , the maker of Timberland and North Face products, posted third quarter earnings of $1.20 a share, eclipsing Wall Street's estimates of $1.15. Revenue fell 1% year over year to $3.5 billion, missing estimates of $3.63 billion. TheStreet's Scott Gamm reports from Wall Street.
    2 min

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