US crude sinks 4.2%, settling at $68.06, after Treasury Dept eases market’s Iran sanctions fears
By Tom DiChristopher | @tdichristopher
- U.S. Treasury Secretary Steve Mnuchin said some oil buyers could get waivers to continue buying Iranian supplies despite American sanctions on the Middle Eastern country.
- Concerns about the aggressive U.S. policy to remove Iranian barrels from the market have raised oil prices in recent weeks.
- Oil prices slipped earlier on Monday as concerns about supply disruptions eased and Libyan ports reopened.
FTSE 100 Edges Higher After Labor Market Data
By RTT News
U.K. shares were flat to slightly higher on Tuesday as investors watched oil price movements and the latest employment data came in pretty much in line with expectations.
Britain’s employment level set a fresh record in the three months to May and unemployment was unchanged, yet pay growth eased to its lowest in six months, figures from the Office for National Statistics showed.
The number of employment was a record high 32.399 million in the March to May period, rising by 137,000 from the previous three months. Economists had forecast employment growth of 115,000.
The employment rate rose to a record 75.7 percent from 75.6 percent in the three months to April period.
Why Microsoft Has Gone Up About 23% So Far This Year
By Chris Neiger, Motley Fool
Shares of Microsoft Corporation (NASDAQ: MSFT) are up about 23% so far this year, according to data provided by S&P Global Market Intelligence, as a positive analyst note at the beginning of the year and strong third-quarter earnings boosted investor sentiment.
Microsoft’s shares followed the market fairly closely for the first couple of months this year, but then started their upswing shortly after a positive note from Morgan Stanley ‘s Keith Weiss. The analyst made the case that Microsoft was on its way to becoming a $1 trillion company and that Microsoft’s dominance in the cloud computing market will continue to spur growth. Weiss also increased his price target from $110 to $130.
The tech giant’s sales were up 16% year over year to $26.8 billion, and net income jumped 35% to $7.4 billion.
The company’s shares may also be ticking up as investors anticipate Microsoft’s fourth-quarter results, which will be released on July 19. Analysts’ consensus earnings estimate for the quarter is $1.08 per share, which would be an increase from the company’s $0.98 per share in the year-ago quarter.
What To Expect From IBM’s Second-Quarter Earnings
By Trefis Team & Great Speculations
IBM is scheduled to report its Q2 2018 earnings on July 18. The tech giant has reported revenue growth in the last couple of quarters after several quarters of mixed results and revenue declines. In the March quarter, IBM reported a healthy 5% increase in net revenues to $19.1 billion, which was offset by slightly lower gross margins. A key growth area for IBM in recent years has been its Cognitive Solutions segment, while the company’s core Technology Services and Business Services segment revenues have largely stagnated. Global Business Services revenues have declined 2-3% in the last few years despite an increase in new signings. Similarly, Technology Services and Cloud Platforms revenue, which includes infrastructure services, technical support services, and integration software, also declined in low single digits through 2017. We forecast this trend to continue through the current year.
eBay (EBAY) Gears Up for Q2 Earnings:
By Zacks Equity Research, Zacks.com
eBay Inc. EBAY is scheduled to report second-quarter 2018 earnings on Jul 18, after the bell.
We expect eBay to perform well on the back of strength in its marketplaces active users and net transaction revenues.
Shares of eBay have gained 1.5% in the past 12 months, significantly underperforming the industry ‘s 44.4% rally.
In the first quarter, eBay’s total net transaction revenues were $2.02 billion. The figure is expected to increase in the to-be-reported quarter as eBay has been strengthening its core platform and improving user experience.
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