Sales & Marketing news

• Falling iPhone sales bring Apple's Q2 revenue billions below its initial expectations – but its bets on wearables and services are paying off (AAPL)

  30-04-2020 22:43 via feedproxy.google.com
  
  Apple reported revenue of $58.3 billion for its fiscal second quarter, falling below its initial Q2 guidance but surpassing Wall Street's muted expectations. 
  Apple's iPhone revenue fell 7% compared to the year-ago quarter, but its services and wearables divisions continued to see strong growth.
  Apple said in February that it did not expect to meet its second quarter revenue guidance because of the coronavirus.
  Shares of Apple were down 1.5% in after hours trading on Thursday.
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• Amazon's Q1 profit misses Wall Street estimates even as sales jump on a surge in consumer demand (AMZN)

  30-04-2020 22:41 via feedproxy.google.com
  
  Amazon reported its first-quarter earnings on Thursday after the bell.
  Amazon's sales grew faster than expected as more people shopped online amid COVID-19.
  But it missed on earnings as COVID-19-related costs across the supply chain increased.
  Amazon shares dropped about 5% in after-hours trading.
  Visit Business Insider's homepage for more stories.Amazon reported huge growth in first-quarter revenue but a miss on earnings on Thursday.
  The mixed results show how the coronavirus outbreak is leadin
  
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• Warren Buffett's favorite stock-market indicator hits record high, signaling a crash could be coming

  30-04-2020 22:24 via feedproxy.google.com
  Warren Buffett's preferred stock-market gauge hit a record high, signaling that stocks are overvalued and that a crash could be coming.
  The "Buffett indicator" divides the total value of publicly traded stocks by quarterly GDP.
  "It is probably the best single measure of where valuations stand at any given moment," Buffett wrote in a Fortune magazine article in 2001.
  The famed investor and Berkshire Hathaway boss said it was "a very strong warning signal" when the indicator peaked just before the
  
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• Dow, S&P 500 post best month since 1987

  30-04-2020 22:10 via feedproxy.google.com
  US stocks slipped on Thursday after data showed that another 3.8 million Americans filed for unemployment last week.
  Still, both the Dow Jones industrial average and the S&P 500 completed their best months since 1987.
  Shares of Tesla and Facebook surged in early trading after the companies reported earnings.
  Tesla closed lower after David Einhorn again called the company's accounting into question on Twitter.
  Oil prices surged on early signals of a global demand recovery.
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• The S&P 500 has hit a crucial threshold that could mean sharp losses are coming (SPY)

  30-04-2020 21:35 via feedproxy.google.com
  The S&P 500 has hit a critical technical threshold that suggests sharp losses could be imminent.
  Traders are keeping an eye on the 61.8% Fibonacci retracement level of the recent coronavirus-induced market sell-off, which is 2,933 on the S&P 500.
  On Thursday, the S&P opened at 2,930 and has since sold off more than 1%.
  The market is approaching this key resistance level as "sell in May and go away" looms right around the corner.
  Visit Business Insider's homepage for more stories.
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• Shell's CEO explains why the oil giant had to slash its dividend for the first time since World War II — and why it will help keep the company's low-carbon goals on track

  30-04-2020 21:24 via feedproxy.google.com
  
  Royal Dutch Shell cut its dividend for the first time since World War II on Thursday, citing "unprecedented and intense economic headwinds." 
  The supermajor's CEO, Ben van Beurden, said destruction of fuel demand, which sent oil prices sinking, "will go very, very deep in the coming weeks and months."
  Cutting the dividend will help the company navigate this "crisis of uncertainty" and free up cash to keep the company on track to reach its clean-energy targets.
  Shell said it would become a n
  
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• Elon Musk's $750 million Tesla payday could be threatened by the coronavirus shutdown he slammed as 'fascist' (TSLA)

  30-04-2020 21:18 via feedproxy.google.com
  
  Tesla CEO Elon Musk went on a profanity-riddled tirade against coronavirus shelter-in-place orders on Wednesday.
  The company has been forced to close its main US car factory in California, which poses a "serious risk" for Tesla's business, Musk said. 
  Musk is a billionaire, but most of his wealth is tied up in Tesla stock.If those share prices don't stay at current levels, he could miss out on a big payday. 
  Visit Business Insider's homepage for more stories.There's a twist to Elon Mus
  
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• Famed short-seller David Einhorn calls out Tesla's billing practices again, erasing the stock's post-earnings gain (TSLA)

  30-04-2020 21:00 via feedproxy.google.com
  David Einhorn of Greenlight Capital again called out Tesla on Twitter on Thursday.
  Einhorn has repeatedly asked questions about Tesla's accounting practices, specifically its accounts receivable.
  Tesla stock fell as much as 3% on Thursday, erasing a 9% post-earnings gain from earlier in the day.
  Watch Tesla trade live on Markets Insider.
  Read more on Business Insider.
  David Einhorn of Greenlight Capital has again called out Tesla's accounting practices in a message directed at CEO Elon Musk.
  "De
  
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• Investors are clamoring for new Boeing debt after the company's $641 million first-quarter loss, report says

  30-04-2020 20:25 via feedproxy.google.com
  Demand for new Boeing bonds is strong after the company's first-quarter report revealed a dire loss, CNBC reported Thursday.
  Investor interest in fresh debt issuance could total $75 billion, sources told CNBC, more than triple what Boeing was looking to raise as the coronavirus pandemic and 787 Max controversy tanks performance.
  Boeing announced Wednesday it lost $641 million in the first quarter, its second profit shortfall in five years.
  Watch Boeing trade live here.
  Interest in new Boeing deb
  
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• 33% of Americans think they might have had the coronavirus, but only 5% of them got tested. It's a colossal problem for reopening the economy.

  30-04-2020 20:21 via feedproxy.google.com
  
  Thirteen percent of Americans said they "definitely" or "probably" have had COVID-19, the disease caused by the coronavirus, according to a new Insider poll.
  But only 9% of those people have actually been tested.
  The figures get starker: An additional 20% said they "maybe" have had COVID-19. If you include them, a total of 5% of people with potential cases have been tested.
  As tests remain in short supply, it's difficult to safely reopen parts of the economy.
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• 'That's where the really big upside is': A CEO overseeing $36 billion pinpoints 7 areas of the market poised to rebound after plummeting as much as 60% this year

  30-04-2020 19:56 via feedproxy.google.com
  
  Sarah Ketterer, the CEO of the $36 billion investment firm Causeway Capital Management, sees opportunities budding in areas of the market that have been decimated by a coronavirus-driven sell-off.
  She said that in two years' time, companies that operate within these areas would "look nothing like they look today" in terms of share price.
  Ketterer said investors should meticulously vet financial statements and cash burn before putting capital to work. 
  Click here for more BI Prime stories.Wi
  
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• US personal spending fell by the most on record in March as consumers stayed home

  30-04-2020 19:33 via feedproxy.google.com
  
  Personal consumption expenditures fell 7.5% in March, according to a report released Thursday by the Commerce Department.
  It's the largest drop on record for the measure, which accounts for roughly 70% of US gross domestic product.
  The report reflects the effects of major lockdowns that swept across the US in March to slow the spread of COVID-19.
  Visit Business Insider's homepage for more stories. 
  US personal spending plunged in March as the coronavirus pandemic kept consumers at home and
  
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• Private-equity firms fueled the US shale revolution with $125 billion. Now they face a reckoning of epic proportions as the oil market melts down.

  30-04-2020 18:47 via feedproxy.google.com
  
  The US shale revolution that propelled the country to energy dominance was backed in large part by private-equity firms. 
  Now, many of those firms may be at risk as the price of oil reaches 20-year lows and fuel demand evaporates.
  Small to midsize firms that specialize in oil and gas will have trouble raising funds in the future, while larger firms with diverse portfolios will be shielded, according to nearly a dozen experts.
  That puts the future expansion of America's oil and gas industry
  
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• The Fed expands its $600 billion lending program for struggling businesses but leaves start date unannounced

  30-04-2020 18:03 via feedproxy.google.com
  
  The Federal Reserve announced Thursday it will expand its Main Street Lending Program to include mid-sized companies and those with greater leverage.
  The central bank expanded program eligibility to businesses with 15,000 employees or $5 billion in revenue, up from the 10,000 employee and $2.5 billion limits.
  The Fed didn't provide a start date for the relief program, adding that it would be announced "soon."
  A separate aid program for nonprofit organizations is under consideration, the Fed said
  
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• Dow falls 320 points as post-coronavirus unemployment filings exceed 30 million

  30-04-2020 17:59 via feedproxy.google.com
  US stocks slipped on Thursday after data showed that another 3.8 million Americans filed for unemployment last week.
  Shares of Tesla and Facebook surged after the companies reported earnings.
  Blue-chip companies including Amazon, Apple, Gilead Sciences, Visa, and United are set to report earnings after the market close.
  Oil prices gained on early signals of a global demand recovery.
  Read more on Business Insider.
  US stocks fell on Thursday after data showed that another 3.8 million American
  
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• The cloud is one of Google's 'bright spots' as its advertising slows, say analysts. Here's why they think the pandemic could be an 'accelerant' (GOOG, GOOGL)

  30-04-2020 17:40 via feedproxy.google.com
  
  Google Cloud's revenue grew 52% from a year ago despite the coronavirus crisis even as the company's advertising business took a hit. 
  Analysts say that the coronavirus pandemic may lead more businesses to move to the cloud. 
  However, the coronavirus crisis is still causing some cloud-related challenges: Google is facing delays in building data centers and closing large deals.
  Visit Business Insider's homepage for more stories.Analysts see Google Cloud as one of the company's "bright s
  
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• An investing strategy called 'crisis alpha' designed to thrive during meltdowns just whiffed on the fastest bear market in history. Here's how that's upended a $318 billion industry — and what it means for the future.

  30-04-2020 17:18 via feedproxy.google.com
  
  Systematic strategies, known for their "crisis alpha" — or the idea that they earn more during sharp downturns — were up 2% just at the end of the first quarter.
  That's a far cry from the double-digit returns they've posted in other drawdowns
  Fund managers say the $318 billion trend-following industry is still viable, but say investors and managers need to understand how markets have changed.
  They argue that crisis alpha may take longer to realize this time around.
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• 'What is an app?': Warren Buffett enlisted Apple CEO Tim Cook to teach him how to use his new iPhone

  30-04-2020 17:15 via feedproxy.google.com
  
  Warren Buffett, who only recently switched from a $20 flip phone to an iPhone, received personal instruction from Apple's CEO on how to use the device.
  "I went out to California, and Tim Cook very patiently spent hours trying to move me up to the level of the average two-year-old," the 89-year-old investor told Yahoo Finance. "Didn't quite make it."
  Buffett visited Cook to film a video in which he appears to develop an app, but was left with a burning question after they finished shooting.
  "As I
  
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• Oil surges 20% amid growing signs of a global demand rebound

  30-04-2020 17:06 via feedproxy.google.com
  Oil prices climbed on Thursday on signs that the global economy is moving toward a slow reopening and on inventory data indicating that storage demand for the commodity is rising slower than expected.
  West Texas Intermediate crude climbed as much as 20%, to $18 per barrel. Brent crude, the international benchmark, rose 14%, to $25.75 per barrel at intraday highs.
  Many large economies have moved to lift stringent of coronavirus lockdown measures, which could boost demand for oil.
  A report from th
  
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• UK ad market to contract by £4.2bn this year

  30-04-2020 01:03
  
  Ten years of continuous ad market growth peaked in 2019 at £25.36bn, but the COVID-19 outbreak will wipe more than £4bn from the total for the current year, according to the latest Advertising Association/WARC Expenditure Report.
  
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• PepsiCo insights platform fuels COVID-19 response

  30-04-2020 01:03
  
  PepsiCo, the food and beverage manufacturer, has been able to call on the power of a cutting-edge insights platform it rolled out not long before the COVID-19 crisis arose in formulating its response to the pandemic.
  
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• Mixed messages from the world of Aussie magazines

  30-04-2020 01:03
  
  While Bauer Media announces the temporary suspension of a number of print titles in Australia due to the effects of COVID-19 on ad revenue, iconic UK mag NME says it will launch a print edition Down Under.
  
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• High Times takes the Playboy route with new acquisition

  30-04-2020 01:03
  
  The owner of cult marijuana magazine, High Times, is expanding into a retail presence with the purchase of Harvest Health & Recreation Californian dispensary business as part of a diversification away from a difficult and changeable...
  
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• Google takes a hit as ad revenues slump post COVID-19

  30-04-2020 01:03
  
  Alphabet, the holding company of Google and YouTube, recorded a “significant and sudden” slump in March advertising revenue as COVID-19 pressures took hold among advertisers, according to the company’s Q1 2020 earnings call.
  
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• Consumer optimism remains high in APAC despite COVID-19 crisis

  30-04-2020 01:03
  
  Despite huge disruption, fears of recession and job losses caused by the COVID-19 epidemic, new research finds consumers in the Asia-Pacific region remain hopeful about the future.
  
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