BUSINESS
EARNINGS
AT&T’s Revenue Rises as Wireless Unit, HBO Add Customers
Media and telecom giant posted customer gains in wireless and media divisions while 5G spending boosted overall debt.
By Drew FitzGerald
Updated April 22, 2021 11:00 am ET
AT&T Inc. T +4.97% piled on more cellphone users, fiber-optic internet customers and HBO viewers during the first quarter, showing the media-and-telecom conglomerate’s focus on growth as the economy starts to roar back after a year of coronavirus-related pressure.
The Dallas company reported 44.2 million domestic HBO and HBO Max subscribers, up from 41.5 million three months earlier, as its media division sought to gain on rivals like Netflix Inc. NFLX -1.36% and Walt Disney Co. That figure included viewers who signed up for the company’s new online streaming video service as well as those with older subscriptions to HBO through a cable-TV provider.
In the U.S. wireless business, AT&T’s core profit engine, the company added 595,000 postpaid phone subscribers, a highly valued category of customers who are billed for monthly service after-the-fact. The carrier also posted a net gain of 207,000 prepaid phone subscribers.
Rival Verizon Communications Inc. on Wednesday reported a net loss of 178,000 postpaid phone connections over the same period. T-Mobile is slated to report its first-quarter results next month.
AT&T executives said the telecom business kept expenses in check by serving more customers online and by giving its sales force simpler plans to promote, saving them time. The company also suggested it would continue offering discounts to attract and keep customers. That strategy could force competitors to respond in kind if it is sustained.
“I think we still have room to run,” Chief Executive John Stankey said during a conference call with analysts. “We have seen our competitors continue to try to compete aggressively. They’re mixing and changing their offers pretty frequently. We seem to be very consistent and very stable, and that’s a really good place for us to be.”
AT&T shares jumped about 5% to $31.66 early Thursday. Shares have gained 10% so far this year after languishing in 2020.
Overall, net income attributable to AT&T reached $7.55 billion, or $1.04 a share, up from $4.61 billion, or 63 cents a share, a year earlier. The most recent earnings result benefited from a large on-paper actuarial gain on the value of its employee-benefit plans. Total revenue rose 2.7% to $43.9 billion.
The company’s reported net debt jumped to about $169 billion, close to its level two years ago following the Time Warner buyout that turned AT&T into a media heavyweight. The latest debt increase stemmed from spending on the Federal Communications Commission’s recent auction of C-band spectrum licenses, a key resource for wireless companies planning to upgrade their services to support high-speed fifth-generation, or 5G, network standards.
Verizon spent the most in the FCC auction, committing $45.5 billion to secure the valuable airwaves. AT&T pledged $23.4 billion for its licenses. Clearing existing users from the spectrum bands and upgrading network gear will cost the companies billions of dollars more.
AT&T said Thursday that its debt levels will decline in the coming years as asset sales and revenue growth whittle down its obligations. The company also affirmed its commitment to sustaining its dividend at current levels.
Growth in AT&T’s mobile-phone business has picked up in recent months after the carrier offered new and existing customers sharply discounted smartphones. The workhorse division has helped stabilize its parent company’s results as its media wing plows billions of dollars into HBO Max programming. Executives have said it will take time for the new streaming-video service to turn a profit, though it also helps wireless profitability by offering mobile-phone customers another enticement to stay with AT&T.
WarnerMedia, as the entertainment division is now called, has also begun to benefit from easier comparisons against last year’s coronavirus-addled results. The media unit’s first-quarter revenue rose 9.8% to $8.53 billion, helped by the return of college basketball on its cable-TV channels and growing revenue from HBO Max.
AT&T’s consumer broadband division posted a net gain of 46,000 customers, powered by new high-speed fiber-optic lines that outstripped declines among older copper-based internet connections.
The unit holding AT&T’s DirecTV satellite service ended the quarter with 620,000 fewer customers, excluding those still using AT&T TV Now. Cord-cutting has bled companies that sell traditional channel bundles, forcing many to raise rates, which in turn prompts more customer defections. AT&T has suffered the brunt of the trend since it acquired DirecTV in 2015 for about $49 billion.
The company in February agreed to carve out the struggling pay-TV unit into a separate business jointly owned with private-equity firm TPG. The complex transaction left AT&T with a 70% stake in the cash-generating enterprise while ceding legal control of the business to a stand-alone board. That allowed the telecom giant to exclude future pay-TV results from its consolidated financial reports.
Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts
Thursday, April 22, 2021
Today is Thursday, April 22, 2021. I own shares of AT&T for the dividend income. Today's news tells me my dividend income is safe.
"AT&T reported a blowout quarter of mobile and streaming subscriber growth, and added better-than-expected earnings and revenues to boot."
Saturday, January 30, 2021
Wikipedia news
In the news
- A coordinated short squeeze targeting American hedge funds causes GameStop's stock price to spike.
- Kaja Kallas (pictured) becomes the first female prime minister of Estonia, following the resignation of Jüri Ratas.
- In Russia, protests against the arrest of Alexei Navalny occur in more than 120 towns and cities.
Wednesday, January 6, 2021
It's a win for the Democrats who will control everything including the United State Senate. And the stock market is very happy to get rid of Fucktard Trump and the Republican assholes.
"Stocks were rising Wednesday and the Dow Jones Industrial Average and S&P 500 set record intraday highs as investors were betting Democrats would win the U.S. Senate."
Monday, January 4, 2021
Tuesday, December 29, 2020
Tuesday, November 24, 2020
Thank goodness Joe Biden defeated the moron.
New York Times
BREAKING NEWS |
The Dow climbed above 30,000 and Wall Street rallied to new highs as political uncertainty faded and investors focused on economic growth. |
Tuesday, November 24, 2020 4:22 PM EST |
The S&P 500 rose 1.6 percent, passing a high reached earlier in the month. Stocks have been buoyed this month by a number of factors. President-elect Joe Biden’s clear victory and the Trump campaign’s failed efforts to undermine that result, mean the political uncertainty that once concerned investors is largely gone. And promising developments in the race for a coronavirus vaccine have investors focusing on the prospect of a return to normal. |
The stock market is having a good day because Fucktard Trump is getting out of the way.
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Monday, November 9, 2020
Washington Post - Thanks to Biden and some science that will fix the coronavirus problem, the stock market is soaring, and that's a good thing. Hey Trump, drop dead you fucking retard.
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Wednesday, October 28, 2020
The stock market is having another bad day. Not my problem because I only care about my dividend income which is safe. In other news the coronavirus is still thinning the herd.
Washington Post
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Wednesday, August 19, 2020
If I had bought shares of Apple a long time ago I would have several million dollars I don't need.
| BREAKING NEWS |
Apple is now worth $2 trillion. It doubled its value since the pandemic-induced recession, cementing its dominance in the global economy. |
| Wednesday, August 19, 2020 11:02 AM EST |
On Wednesday Apple became the first U.S. company to hit a $2 trillion valuation when its shares climbed 1.2 percent in morning trading. It was another milestone for the maker of iPhones, Mac computers and Apple Watches.
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| Read the latest |
Monday, June 8, 2020
New York Times: "Stocks Recoup 2020 Losses". This is not a good thing for the Democrats. Trump is going to win the election on November 3, 2020.
LIVE UPDATES
Stocks Recoup 2020 Losses: Live Markets Updates
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The S&P 500 erased its losses for 2020, rising more than 44 percent since its low in March.
Friday, June 5, 2020
What I wrote at the Washington Post.
It will be impossible for Biden to win after these fantastic job numbers. Mike Bloomberg could have defeated Trump, but Biden doesn't have a chance.
It should be interesting to watch you children cry like babies for the next 4 years.
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Dow soars more than 800 points as Wall Street closes in on pre-pandemic levels
U.S. stocks are in the midst of a stunning, three-month rally that puts a V-shaped recovery back in play.
By Taylor Telford and Thomas Heath
June 5, 2020
Wall Street is in the midst of a stunning, three-month rally that is close to putting investors back where they were in January, before the coronavirus pandemic obliterated trillions in wealth.
A surprisingly positive jobs report on Friday helped markets extend an already strong week, pushing the Standard & Poor’s 500 index — which has soared 9 percent in three weeks — within 1 percent of going positive for 2020, according to Howard Silverblatt of S&P Dow Jones Indices. The S&P was more than 30 percent in the hole less than three months ago. It closed up 81 points, or 2.6 percent.
The Nasdaq — already 9 percent ahead on the year — added 198 points, or 2 percent. The Nasdaq 100, a collection of the largest non-financial Nasdaq companies, is at an all-time high. led in part by recoveries in airline and hotel stocks.
The Dow Jones industrial average rocketed more than 1,000 points after the release of May unemployment numbers, then cut its gains to 829 points, or 3 percent, to close above 27,000 for the first time in three months. The advance put the blue-chip index within a few percentage points of turning positive for the year. The Labor Department said the nation’s jobless rate fell to 13.3 percent — a far cry from the 19.5 percent analysts had forecast and a significant improvement from the 14.7 percent set in April — as states incrementally reopened their economies after months of pandemic-fueled shutdowns and some Americans were able to get back to work.
“We have been given today the surprise of our investor lives,” said Bryce Doty, senior portfolio manager at Sit Investment Associates, a Minneapolis money management firm. “The timing of the economic recovery just moved up. Markets had been telling us economic activity was picking up, and today bears that out.”
The economy added more than 2.5 million jobs in May, data show. Much of those gains were in sectors the pandemic hurt the most, including airlines, cruise lines, retail, hotels and energy. The rebound may be a sign the market may have appropriately anticipated a quick revival — in part because of massive interventions by the federal government and the Federal Reserve.
“Some of the economic data already looks V-shaped,” said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. “We saw complete reversals in the industries that lost the most in the shutdown. The persistence of the strength of this recovery is the question."
Despite ongoing protests since George Floyd was killed last week while in police custody and the country grappling with its worst economic crisis since the Great Depression, investor optimism has been steadily gaining. On Thursday, weekly unemployment claims came in below estimates — although at 1.9 million the losses still show staggering damage to the economy.
Asian markets closed up and European markets were trending higher. The rally followed the European Central Bank’s announcement on Thursday that it would add $676 billion (600 billion euros) to its coronavirus rescue plan, making the total package worth more than $1.5 trillion.
“The policy stimulus globally has been nothing short of breathtaking,” said David Rosenberg of Rosenberg Research.
Germany, one of Europe’s most powerful economic engines, also announced a fresh stimulus package Thursday amid rising unemployment.
“There are a number of reasons to be cautious in this market but none are clearly as compelling as the grand economic reopening and authorities everywhere pumping out cash like it’s going out of fashion,” Craig Erlam, an analyst with OANDA, wrote in commentary Friday. “This is purely a stimulus and momentum trade and it’s not running shy of either.”
Positive news is filtering through the economy. Oil prices are climbing, helping that industry get back on its feet. The number of people paying off their mortgages has ticked up, marking the first net decline in active forbearance plans since the Cares Act was enacted. Personal incomes have risen 10.5 percent, thanks largely to federal stimulus checks. First-time unemployment filings have leveled off. The housing market is on the rise, helped by record-low interest rates. Private payrolls shed 2.76 million jobs in May, ADP reported Wednesday, well below the 8.75 million that economists surveyed by Dow Jones had expected.
Analysts caution that the economy has a long way to go. The magnitude of economic damage suggests a V-shaped recovery is still a reach. A Monday report from the Congressional Budget Office estimated that fallout from the coronavirus crisis will shrink the size of the U.S. economy by roughly $8 trillion over the next decade. That amounts to a 3 percent decline in U.S. gross domestic product compared to its initial estimate.
Oil prices soared to their highest levels in three months as investors looked toward the meeting of OPEC and its allies this weekend, where the organization is expected to agree to further production cuts while the world gets back in motion. Brent crude, the international oil benchmark, rose nearly 3.9 percent to trade at $41.54 per barrel. West Texas Intermediate crude, the U.S. oil benchmark, climbed more than 3 percent to trade at $38.55 per barrel.
If the recent market gains are sustained, they could have a big impact on the American consumer come July, when people open their quarterly retirement statements.
“There is a going be a huge change in the number between the end of the first and second quarters,” said Ivan Feinseth of Tigress Financial Partners. “When people look at their 401(k) and retirement statements, they are going to happy. That will help drive the second half of the year.”
It should be interesting to watch you children cry like babies for the next 4 years.
••••••••••••••••••••••••••••••••••••••••••••••••••
Dow soars more than 800 points as Wall Street closes in on pre-pandemic levels
U.S. stocks are in the midst of a stunning, three-month rally that puts a V-shaped recovery back in play.
By Taylor Telford and Thomas Heath
June 5, 2020
Wall Street is in the midst of a stunning, three-month rally that is close to putting investors back where they were in January, before the coronavirus pandemic obliterated trillions in wealth.
A surprisingly positive jobs report on Friday helped markets extend an already strong week, pushing the Standard & Poor’s 500 index — which has soared 9 percent in three weeks — within 1 percent of going positive for 2020, according to Howard Silverblatt of S&P Dow Jones Indices. The S&P was more than 30 percent in the hole less than three months ago. It closed up 81 points, or 2.6 percent.
The Nasdaq — already 9 percent ahead on the year — added 198 points, or 2 percent. The Nasdaq 100, a collection of the largest non-financial Nasdaq companies, is at an all-time high. led in part by recoveries in airline and hotel stocks.
The Dow Jones industrial average rocketed more than 1,000 points after the release of May unemployment numbers, then cut its gains to 829 points, or 3 percent, to close above 27,000 for the first time in three months. The advance put the blue-chip index within a few percentage points of turning positive for the year. The Labor Department said the nation’s jobless rate fell to 13.3 percent — a far cry from the 19.5 percent analysts had forecast and a significant improvement from the 14.7 percent set in April — as states incrementally reopened their economies after months of pandemic-fueled shutdowns and some Americans were able to get back to work.
“We have been given today the surprise of our investor lives,” said Bryce Doty, senior portfolio manager at Sit Investment Associates, a Minneapolis money management firm. “The timing of the economic recovery just moved up. Markets had been telling us economic activity was picking up, and today bears that out.”
The economy added more than 2.5 million jobs in May, data show. Much of those gains were in sectors the pandemic hurt the most, including airlines, cruise lines, retail, hotels and energy. The rebound may be a sign the market may have appropriately anticipated a quick revival — in part because of massive interventions by the federal government and the Federal Reserve.
“Some of the economic data already looks V-shaped,” said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. “We saw complete reversals in the industries that lost the most in the shutdown. The persistence of the strength of this recovery is the question."
Despite ongoing protests since George Floyd was killed last week while in police custody and the country grappling with its worst economic crisis since the Great Depression, investor optimism has been steadily gaining. On Thursday, weekly unemployment claims came in below estimates — although at 1.9 million the losses still show staggering damage to the economy.
Asian markets closed up and European markets were trending higher. The rally followed the European Central Bank’s announcement on Thursday that it would add $676 billion (600 billion euros) to its coronavirus rescue plan, making the total package worth more than $1.5 trillion.
“The policy stimulus globally has been nothing short of breathtaking,” said David Rosenberg of Rosenberg Research.
Germany, one of Europe’s most powerful economic engines, also announced a fresh stimulus package Thursday amid rising unemployment.
“There are a number of reasons to be cautious in this market but none are clearly as compelling as the grand economic reopening and authorities everywhere pumping out cash like it’s going out of fashion,” Craig Erlam, an analyst with OANDA, wrote in commentary Friday. “This is purely a stimulus and momentum trade and it’s not running shy of either.”
Positive news is filtering through the economy. Oil prices are climbing, helping that industry get back on its feet. The number of people paying off their mortgages has ticked up, marking the first net decline in active forbearance plans since the Cares Act was enacted. Personal incomes have risen 10.5 percent, thanks largely to federal stimulus checks. First-time unemployment filings have leveled off. The housing market is on the rise, helped by record-low interest rates. Private payrolls shed 2.76 million jobs in May, ADP reported Wednesday, well below the 8.75 million that economists surveyed by Dow Jones had expected.
Analysts caution that the economy has a long way to go. The magnitude of economic damage suggests a V-shaped recovery is still a reach. A Monday report from the Congressional Budget Office estimated that fallout from the coronavirus crisis will shrink the size of the U.S. economy by roughly $8 trillion over the next decade. That amounts to a 3 percent decline in U.S. gross domestic product compared to its initial estimate.
Oil prices soared to their highest levels in three months as investors looked toward the meeting of OPEC and its allies this weekend, where the organization is expected to agree to further production cuts while the world gets back in motion. Brent crude, the international oil benchmark, rose nearly 3.9 percent to trade at $41.54 per barrel. West Texas Intermediate crude, the U.S. oil benchmark, climbed more than 3 percent to trade at $38.55 per barrel.
If the recent market gains are sustained, they could have a big impact on the American consumer come July, when people open their quarterly retirement statements.
“There is a going be a huge change in the number between the end of the first and second quarters,” said Ivan Feinseth of Tigress Financial Partners. “When people look at their 401(k) and retirement statements, they are going to happy. That will help drive the second half of the year.”
"The May jobs gain was the biggest one-month rise since at least 1939." Good news for this country and Fucktard Trump.
Dow Jones Today: 'Amazing' Jobs Report
The Nasdaq composite gained 1.9% Friday morning. The S&P 500 moved up 2.6%, while the Dow Jones industrials advanced 3.2%.
Ahead of the stock market open Thursday, the Labor Department said employment rose by 2.5 million in May and the jobless rate declined to 13.3%. The report was much better than economists had feared. Wall Street expected a loss of 7.7 million jobs and a 19.8% unemployment rate. The May jobs gain was the biggest one-month rise since at least 1939.
The strong jobs report prompted President Trump to tweet, "This is an AMAZING JOBS REPORT!.." President Trump also called a news conference at 10 am ET, tweeting, "I will be doing a News Conference at 10:00 A.M. on the Jobs Numbers! White House."
The Nasdaq composite gained 1.9% Friday morning. The S&P 500 moved up 2.6%, while the Dow Jones industrials advanced 3.2%.
Ahead of the stock market open Thursday, the Labor Department said employment rose by 2.5 million in May and the jobless rate declined to 13.3%. The report was much better than economists had feared. Wall Street expected a loss of 7.7 million jobs and a 19.8% unemployment rate. The May jobs gain was the biggest one-month rise since at least 1939.
The strong jobs report prompted President Trump to tweet, "This is an AMAZING JOBS REPORT!.." President Trump also called a news conference at 10 am ET, tweeting, "I will be doing a News Conference at 10:00 A.M. on the Jobs Numbers! White House."
Wednesday, May 20, 2020
I love Amazon.
From 2000 to 2006 people could buy shares of Amazon for almost nothing. These days one share of Amazon is worth almost 2,500.00.
If someone bought just 400 shares in 2006 they would now be able to sell it for one million dollars.
Amazon is going to keep growing. They're doing everything right. Their most important idea is to repeatedly do everything possible to make their customers happy. I sure do like them. I never shop anywhere else. They have made everything easy and they made it easy to get it done fast.
Every other website sucks. For example Walmart. Walmart sucks.
If someone bought just 400 shares in 2006 they would now be able to sell it for one million dollars.
Amazon is going to keep growing. They're doing everything right. Their most important idea is to repeatedly do everything possible to make their customers happy. I sure do like them. I never shop anywhere else. They have made everything easy and they made it easy to get it done fast.
Every other website sucks. For example Walmart. Walmart sucks.
Sunday, May 17, 2020
"Dividends have disappeared this year. Will they ever come back?" This is not a problem for me. My AT&T dividend income is very safe.
Dividends have disappeared this year. Will they ever come back?
By Hanna Ziady, CNN Business
Updated Sunday, May 17, 2020
Dividend payouts could tumble by nearly $500 billion this year, a steeper drop than during the global financial crisis, as the worst global recession in decades is forcing companies to preserve cash.
The damage to dividends could endure well beyond the coronavirus pandemic, analysts say, as companies around the world facing a historic collapse in revenue consider permanently shoring up their cash buffers.
After hitting a record $1.43 trillion in 2019, global dividend payouts could plummet by as much as 35% this year, or some $497 billion, according to a report released Monday by asset manager Janus Henderson. That would outstrip the 30% drop observed during the 2008 global financial crisis, said investment director for global equity income, Jane Shoemake.
If dividends are cut by only those companies that have already announced withdrawals, or are very likely to, dividend payouts will decline 15% this year to $1.2 trillion, the report finds.
"Dividend suspensions are inevitable due to the sudden, unprecedented halt in economic activity in many countries," Ben Lofthouse, co-manager of global equity income at Janus Henderson said in a research note. "Some of the impact will spread into 2021, which is now likely to see lower payouts than we might have expected before the pandemic."
By Hanna Ziady, CNN Business
Updated Sunday, May 17, 2020
Dividend payouts could tumble by nearly $500 billion this year, a steeper drop than during the global financial crisis, as the worst global recession in decades is forcing companies to preserve cash.
The damage to dividends could endure well beyond the coronavirus pandemic, analysts say, as companies around the world facing a historic collapse in revenue consider permanently shoring up their cash buffers.
After hitting a record $1.43 trillion in 2019, global dividend payouts could plummet by as much as 35% this year, or some $497 billion, according to a report released Monday by asset manager Janus Henderson. That would outstrip the 30% drop observed during the 2008 global financial crisis, said investment director for global equity income, Jane Shoemake.
If dividends are cut by only those companies that have already announced withdrawals, or are very likely to, dividend payouts will decline 15% this year to $1.2 trillion, the report finds.
"Dividend suspensions are inevitable due to the sudden, unprecedented halt in economic activity in many countries," Ben Lofthouse, co-manager of global equity income at Janus Henderson said in a research note. "Some of the impact will spread into 2021, which is now likely to see lower payouts than we might have expected before the pandemic."
Saturday, May 2, 2020
Never trust anyone who gives you advice about what to buy in the stock market. Do your own homework then decide.
Dividend aristocrats: firms that have increased their shareholder payouts every year for at least 25 years.
Number of consecutive years of increasing dividends and the current dividend yield:
Johnson & Johnson - 57 years - Dividend yield: 2.72%
Procter & Gamble - 57 years - Dividend yield: 2.71%
Clorox - 43 years - Dividend yield: 2.20%
Walmart - 43 years - Dividend yield: 1.76%
Exxon Mobil - 37 years - Dividend yield: 8.07%
AT&T -35 years - Dividend yield: 6.96%
Caterpillar - 26 years - Dividend yield: 3.72%
Chevron - 32 years - Dividend yield: 5.77%
•••••••••••••••••••••••••••••••••••••••••••••
On this list, Exxon Mobil has the highest current dividend yield. With the price of oil near zero, I would not want to own Exxon Mobil.
On this list the 2nd highest current dividend yield is AT&T which is now 6.96%. This is what I own. I think the dividend is very safe because people are not going to stop using the internet and they are not going to stop watching AT&T's HBO movies.
The idea is don't buy AT&T if you're hoping for capital gains. Buy it only if you plan to keep it for the rest of your life while watching your dividend income grow every year.
I suggest every time the dividend is paid (4 times a year), use your dividend income and the income from your job to buy more shares. Do this at least 4 times a year and you're on your way to telling your manager to take this job and shove it.
Not having to work is a good thing. If you love to work then keep working. I prefer freedom.
One more thing: You want to use Charles Schwab. You will never need to talk to a human but if you don't understand something the people at Charles Schwab love to answer dumb questions. It's a wonderful place. They do everything right. And everything is totally free including the checking account. I can use any ATM machine in the world and Schwab will pay the fee for doing that at the end of the month.
Number of consecutive years of increasing dividends and the current dividend yield:
Johnson & Johnson - 57 years - Dividend yield: 2.72%
Procter & Gamble - 57 years - Dividend yield: 2.71%
Clorox - 43 years - Dividend yield: 2.20%
Walmart - 43 years - Dividend yield: 1.76%
Exxon Mobil - 37 years - Dividend yield: 8.07%
AT&T -35 years - Dividend yield: 6.96%
Caterpillar - 26 years - Dividend yield: 3.72%
Chevron - 32 years - Dividend yield: 5.77%
•••••••••••••••••••••••••••••••••••••••••••••
On this list, Exxon Mobil has the highest current dividend yield. With the price of oil near zero, I would not want to own Exxon Mobil.
On this list the 2nd highest current dividend yield is AT&T which is now 6.96%. This is what I own. I think the dividend is very safe because people are not going to stop using the internet and they are not going to stop watching AT&T's HBO movies.
The idea is don't buy AT&T if you're hoping for capital gains. Buy it only if you plan to keep it for the rest of your life while watching your dividend income grow every year.
I suggest every time the dividend is paid (4 times a year), use your dividend income and the income from your job to buy more shares. Do this at least 4 times a year and you're on your way to telling your manager to take this job and shove it.
Not having to work is a good thing. If you love to work then keep working. I prefer freedom.
One more thing: You want to use Charles Schwab. You will never need to talk to a human but if you don't understand something the people at Charles Schwab love to answer dumb questions. It's a wonderful place. They do everything right. And everything is totally free including the checking account. I can use any ATM machine in the world and Schwab will pay the fee for doing that at the end of the month.
Friday, May 1, 2020
Fuck you Trump, you fucking moron.
Stocks sold off Friday, sending the Dow Jones Industrial Average down more than 600 points after President Donald Trump threatened to slap tariffs on China over the coronavirus pandemic.
Sunday, April 26, 2020
Wednesday, April 1, 2020
Not to worry America. We have survived worse disasters.
Washington Post
U.S. markets pile on losses, with Dow skidding nearly 1,000 points, amid bleak health and economic projections
Wall Street descended deeper into its month-long funk as the nation entered one of its most dire periods in memory. Coronavirus deaths are accelerating, vast swaths of the population are confined to their homes, and tens of millions are hurting while the coronavirus crisis squeezes the life out of the economy. Brutal job numbers are on deck.
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Economy
U.S. stocks tank as bleak news mounts on health, economic fronts
The Dow slides nearly 1,000 points coming off its worst first quarter ever.
By Jacob Bogage and Thomas Heath
April 1, 2020
Stocks descended deeper into their month-long funk Wednesday as the nation entered one of its most dire periods in memory. Coronavirus deaths are rapidly piling up, vast swaths of the population are stuck in their homes, and tens of millions are hurting while the health crisis squeezes the life out of the economy
As the country looks for a whisper of good news on the health or economic fronts, Wednesday’s waterfall plunge in stock markets says Wall Street is bracing for economic damage after just finishing one of its worst quarters ever.
Investors read President Trump’s admonition on Tuesday that the country should be prepared for a “a hell of a bad two weeks” as a signal that the economy would not be spared in the upcoming carnage.
“We are in for shockingly bad labor market numbers in Thursday’s unemployment claims,” said Luke Tilley, chief economist at Wilmington Trust. “We are in for the sharpest quarterly decline in economic activity that we have ever seen. And the recovery in the second half of the year is going to be slow, challenging and disappointing. It’s going to get a lot worse before it gets better.”
Dow Jones industrial average finished Wednesday’s session with a 973-point loss, about 4.4 percent, as investors bake in more bad news on the coronavirus front. The Standard & Poor’s 500 dropped 113 points, or 4.4 percent, and the tech-heavy Nasdaq gave back 340 points, or 4.4 percent.
All three indexes are deep in the hole for 2020 after hitting record highs a few weeks ago. The Dow has lost 26 percent since the start of the year. The S&P has lost 23 percent and the Nasdaq is down 17 percent.
Sign up for our Coronavirus Updates newsletter to track the outbreak. All stories linked in the newsletter are free to access.
The White House presented a bleak picture Tuesday for the pandemic’s spread in the United States, predicting a best-case scenario of 100,000 to 240,000 fatalities. Confirmed U.S. cases topped 200,000 on Wednesday as the nation broadens its testing to fight the fast-spread of the disease.
Thursday’s eagerly-awaited unemployment numbers is only the taste of what is expected to be a long winter of bad financial and job data.
“In the upcoming earnings season, most corporate managements will have nothing to offer but uncertainty about how bad their results will be over the rest of the year,” said Ed Yardeni, president of Yardeni Research. . “After accentuating the positives in the war against the virus last week and rotating out of bonds and into cheap stocks, investors are hunkering down in the trenches again.”
Investor anxiety that surfaced alongside the coronavirus’ contagion in the U.S. several weeks ago has tipped the stock market into swings not seen in years. Numerous milestones from daily point plunges to percentage gains to worst monthly and quarterly declines have fallen or nearly fallen. The Dow capped its worst-ever first quarter on Tuesday with a 400-point loss.
All but two of the Dow 30 finished in the red Wednesday, with aerospace giant Boeing and American Express the biggest drags. Boeing had been on a resurgence last week, nearly doubling its price as investors calculated that the $2 million federal relief package would aid the airplane manufacturer. But Boeing’s share price has retreated in the last few sessions, and on Wednesday it was hovering around $130 per share. Late last week the price was $180.
Walmart and Procter & Gamble were the only blue chips scoring gains Wednesday. Utilities and real estate were the worst performers among the 11 S&P stock sectors, all of which were in the red for the day.
Oil prices continue to wreak havoc on markets, threatening millions of jobs and the rich dividends prized by shareholders. The price of a barrel of oil inched above $20 on Wednesday after Trump announced that he would meet with oil executives on Friday to limit supply and help push prices higher. The president finds himself in the uncomfortable position of trying to raise oil prices so U.S. energy companies can earn a profit.
Oil prices fell the most ever last month due falling demand and a nasty, race-to-the-bottom price war between Russia and Saudi Arabia, two of the worlds biggest suppliers.
It also was a historically bad quarter for the S&P 500, which saw 20 percent of its value disappear and is 24 percent below the all-time high it set Feb. 19. The broad index stumbled 1.6 percent Tuesday to close at 2,584.59. The Nasdaq finished the three-month period at 7,700.10, falling nearly 1 percent on the day and 14 percent for 2020.
“The market is down on the expectation for really bad numbers on unemployment claims on Thursday,” said Jamie Cox, managing partner of Harris Financial Group. “It’s also down because overnight, several of the U.K. financials, Barclays, Royal Bank of Scotland, HSBC, stopped paying their dividends so they can weather the storm. That’s unusual. When you add it all up, markets are realizing that the next couple of weeks are going to be very difficult.”
Though analysts had cautioned that more volatility was in the cards this week, there were some optimistic signs Tuesday that pointed to a V- or U-shaped recovery by late summer. Consumer confidence fell, but not as sharply as expected. Oil for most of the day was climbing, a signal of consumer demand, until those advances were washed out. Goldman Sachs forecast a troublesome second quarter — with as much as 15 percent unemployment in the late spring and early summer — but a ferocious comeback when the economy zooms back to normal.
Overseas markets also posted significant losses on the heels of President Trump’s warning for the coming month. European and Asian markets were in the red across the board as the U.S. headed into two of its most trying weeks ever.
U.S. markets pile on losses, with Dow skidding nearly 1,000 points, amid bleak health and economic projections
Wall Street descended deeper into its month-long funk as the nation entered one of its most dire periods in memory. Coronavirus deaths are accelerating, vast swaths of the population are confined to their homes, and tens of millions are hurting while the coronavirus crisis squeezes the life out of the economy. Brutal job numbers are on deck.
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Economy
U.S. stocks tank as bleak news mounts on health, economic fronts
The Dow slides nearly 1,000 points coming off its worst first quarter ever.
By Jacob Bogage and Thomas Heath
April 1, 2020
Stocks descended deeper into their month-long funk Wednesday as the nation entered one of its most dire periods in memory. Coronavirus deaths are rapidly piling up, vast swaths of the population are stuck in their homes, and tens of millions are hurting while the health crisis squeezes the life out of the economy
As the country looks for a whisper of good news on the health or economic fronts, Wednesday’s waterfall plunge in stock markets says Wall Street is bracing for economic damage after just finishing one of its worst quarters ever.
Investors read President Trump’s admonition on Tuesday that the country should be prepared for a “a hell of a bad two weeks” as a signal that the economy would not be spared in the upcoming carnage.
“We are in for shockingly bad labor market numbers in Thursday’s unemployment claims,” said Luke Tilley, chief economist at Wilmington Trust. “We are in for the sharpest quarterly decline in economic activity that we have ever seen. And the recovery in the second half of the year is going to be slow, challenging and disappointing. It’s going to get a lot worse before it gets better.”
Dow Jones industrial average finished Wednesday’s session with a 973-point loss, about 4.4 percent, as investors bake in more bad news on the coronavirus front. The Standard & Poor’s 500 dropped 113 points, or 4.4 percent, and the tech-heavy Nasdaq gave back 340 points, or 4.4 percent.
All three indexes are deep in the hole for 2020 after hitting record highs a few weeks ago. The Dow has lost 26 percent since the start of the year. The S&P has lost 23 percent and the Nasdaq is down 17 percent.
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The White House presented a bleak picture Tuesday for the pandemic’s spread in the United States, predicting a best-case scenario of 100,000 to 240,000 fatalities. Confirmed U.S. cases topped 200,000 on Wednesday as the nation broadens its testing to fight the fast-spread of the disease.
Thursday’s eagerly-awaited unemployment numbers is only the taste of what is expected to be a long winter of bad financial and job data.
“In the upcoming earnings season, most corporate managements will have nothing to offer but uncertainty about how bad their results will be over the rest of the year,” said Ed Yardeni, president of Yardeni Research. . “After accentuating the positives in the war against the virus last week and rotating out of bonds and into cheap stocks, investors are hunkering down in the trenches again.”
Investor anxiety that surfaced alongside the coronavirus’ contagion in the U.S. several weeks ago has tipped the stock market into swings not seen in years. Numerous milestones from daily point plunges to percentage gains to worst monthly and quarterly declines have fallen or nearly fallen. The Dow capped its worst-ever first quarter on Tuesday with a 400-point loss.
All but two of the Dow 30 finished in the red Wednesday, with aerospace giant Boeing and American Express the biggest drags. Boeing had been on a resurgence last week, nearly doubling its price as investors calculated that the $2 million federal relief package would aid the airplane manufacturer. But Boeing’s share price has retreated in the last few sessions, and on Wednesday it was hovering around $130 per share. Late last week the price was $180.
Walmart and Procter & Gamble were the only blue chips scoring gains Wednesday. Utilities and real estate were the worst performers among the 11 S&P stock sectors, all of which were in the red for the day.
Oil prices continue to wreak havoc on markets, threatening millions of jobs and the rich dividends prized by shareholders. The price of a barrel of oil inched above $20 on Wednesday after Trump announced that he would meet with oil executives on Friday to limit supply and help push prices higher. The president finds himself in the uncomfortable position of trying to raise oil prices so U.S. energy companies can earn a profit.
Oil prices fell the most ever last month due falling demand and a nasty, race-to-the-bottom price war between Russia and Saudi Arabia, two of the worlds biggest suppliers.
It also was a historically bad quarter for the S&P 500, which saw 20 percent of its value disappear and is 24 percent below the all-time high it set Feb. 19. The broad index stumbled 1.6 percent Tuesday to close at 2,584.59. The Nasdaq finished the three-month period at 7,700.10, falling nearly 1 percent on the day and 14 percent for 2020.
“The market is down on the expectation for really bad numbers on unemployment claims on Thursday,” said Jamie Cox, managing partner of Harris Financial Group. “It’s also down because overnight, several of the U.K. financials, Barclays, Royal Bank of Scotland, HSBC, stopped paying their dividends so they can weather the storm. That’s unusual. When you add it all up, markets are realizing that the next couple of weeks are going to be very difficult.”
Though analysts had cautioned that more volatility was in the cards this week, there were some optimistic signs Tuesday that pointed to a V- or U-shaped recovery by late summer. Consumer confidence fell, but not as sharply as expected. Oil for most of the day was climbing, a signal of consumer demand, until those advances were washed out. Goldman Sachs forecast a troublesome second quarter — with as much as 15 percent unemployment in the late spring and early summer — but a ferocious comeback when the economy zooms back to normal.
Overseas markets also posted significant losses on the heels of President Trump’s warning for the coming month. European and Asian markets were in the red across the board as the U.S. headed into two of its most trying weeks ever.
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