Stocks are stepping further away from record levels as Greece meets once again with its creditors to try to iron out some kind of new deal on its debt.
The Nasdaq (^IXIC) index is clearly the winner this week rising the past seven session in a row and closing in on the all-time high that it reached during the dot-com boom 15-years ago.
Yahoo Finance’s Aaron Task cautions about comparing the dot-com Nasdaq 5,000 to the Nasdaq today.
“This is a very different Nasdaq, we have very profitable companies driving the Nasdaq–huge companies like Apple (APPL) –they have these tremendous balance sheets, a lot of strength, a lot of cash on the books. Last time we were in this area, you had a lot of companies that had no revenue, they were being valued on eyeballs….and it was truly a bubble,” Task explains.
Earnings continue to grab investors’ attention.
Deere (DE) reporting sales sunk in its fiscal first quarter because of a slowdown in global farming. And because of that plus the strong dollar, Deere expects sales for the year to decline 17%. Despite the weakness in the agricultural sector, Deere’s first quarter profit and revenue topped forecasts.
Related: Deere dumped; Noodles gets fried; Intuit jumps
Nordstrom (JWN) issued a weak outlook for the year after reporting earnings that came in below Wall Street views as higher costs related to acquisitions and technology upgrades offset sales growth.
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Intuit’s (INTU) TurboTax fiasco didn’t seem to have on impact on the company’s results last quarter. Intuit posting a narrower-than-expected loss while revenue also surpassed forecasts as it QuickBooks and its TurboTax software added more subscribers.
Noodles (NDLS) reporting a miss on both its top and bottom line in the fourth quarter on weaker-than-expected same-store sales growth. The company also issued a disappointing outlook for the year. Shares of Noodles are down sharply on the news.
Apple (APPL) remains in the spotlight…along with the stock setting several records in the past few weeks, Bloomberg reports the tech giant expects to begin production of its first electric car by 2020.
Related: Buffett: ‘Baby you can drive my car’
Meantime, Warren Buffet’s old Caddy sold for big bucks. Buffett’s 2006 Cadillac went for a whopping $ 122,500 dollars. Not a bad return on investment that is supposed to depreciate with time. But then again he is the Oracle of Omaha and the proceeds did go to charity.
YouTube is going after the grammar school crowd. Google’s (GOOGL) web based video provider will launch an app for kids that will feature parental controls and removes all viewer comments.
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