• US jobless claims below 1 million
• Apple (AAPL.US) readies subscription bundles to boost services
• Cisco (CSCO.US) next quarter guidance misses expectation
• Apple (AAPL.US) readies subscription bundles to boost services
• Cisco (CSCO.US) next quarter guidance misses expectation
US indices launched today’s session in mixed mood despite the fact that initial jobless claims fell below 1 million, first time since March and below market expectations of 1.1 million. Today's report may indicate that the labor market might start recovering from the coronavirus hit. Markets attention still focus on a new coronavirus relief package after President Trump accused congressional Democrats of not wanting to negotiate.
S&P500 (US500) futures swung between gains and losses on Thursday despite the fact initial jobless claims figures surprised on the upside. Should upbeat moods returns, then index may test the ATH at 3398 pts. However, if sellers manage to regain control, the support at 3288.5 pts may be at risk. Source: xStation5Cisco Systems (CSCO.US) stock dropped over 7% after the closing bell despite the fact that company posted better than expected quarterly results. Cisco earned 80 cents per share, 6 cents above estimates. Company reported that revenue dropped 9% in the fiscal fourth quarter to $12.2 billion, and predicted that sales would continue to decline at an equal or greater rate in the current period. Cisco is expecting that first-quarter revenues will drop 9% to 11% and associated per-share earnings between 41 and 47 cents. Cisco plans to cut $1 billion in costs, a supersized return to Cisco’s previous pattern of a large restructuring at the end of a fiscal year.
Cisco Systems (CSCO.US) – stock started today’s session with a bearish price gap and is currently testing major support level at $43.49 per share. If sellers manage to break below it, a downward impulse towards $40.69 per share could be launched. On the other hand, once buyers regain control, the resistance at $48.28 per share may be at risk. Source: xStation5
Apple (AAPL.US) is preparing a series of new subscription bundles called “Apple One,” according to Bloomberg. New feature will allow users to subscribe to multiple Apple digital services at favorable prices.
Lyft (LYFT.US) stock fell 2% after the market close following the release of the company’s second-quarter results. Company's revenue declined by massive 61% compare the same period last year due to the pandemic. Company announced that its core ride-hailing business saw monthly rides increase 78% in July compared to April.
Tapestry (TPR.US) which is the parent company of the Coach and Kate Spade luxury brands reported an adjusted quarterly loss of 25 cents per share, below market expectation of 57-cent loss. Revenue came in above estimates, mainly thanks to strong e-commerce sales.
3M (MMM.US) – company sales rose 6 % increase in July compared to a year earlier. Company sees broad-based improvement in sales trends across its businesses.
Fossil (FOSL.US) posted an adjusted quarterly loss of 23 cents per share, below market expectations of a $1.71-per-share loss. Revenue beat estimates despite pandemic-related store closures.
