We’re into the thick of earnings; Apple kicked off big tech earnings beating downwardly revised expectations yesterday, but more are on the docket. Facebook and Microsoft are scheduled to report results today, and Amazon will disclose its quarterly figures on Thursday. Tech stocks helped propel the stock market to record highs last year, but have recently slumped because of slower global demand, rising trade tensions and concerns about stricter regulation. (SA)
Boeing reported record revenues of more than $100bn for the full year on strong demand as the blue-chip plane maker’s quarterly results easily beat Wall Street expectations. The Chicago-based group, delivered 806 jets, reported revenues of $101.1bn for the year to the end of December, with core earnings per share of $16.01. Record commercial deliveries and higher defense volumes helped drive performance. (FT)
Similarly positive results over at McDonald’s, as chief executive Steve Easterbrook said a plan to modernize its restaurants was paying off as the world’s biggest hamburger chain produced a 14th consecutive rise in like-for-like sales. The golden arches has been revamping its outlets globally, rolling out new decor, self-ordering kiosks and free-to-use tablets, delivered a 4.4 per cent year-on-year rise in comparable sales in the fourth quarter. (FT)
Volkswagen held on to its position as the world’s top-selling automaker for the fifth year in a row in 2018, with deliveries rising 0.9% to a record 10.83M. However, just counting cars and light commercial vehicles, the group only sold 10.6M units, less than the 10.76M vehicles sold by the Renault-Nissan-Mitsubishi alliance. Toyota retained its third spot, selling 10.59M vehicles last year. (SA)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.