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- Daily Scoop 22-10-19
Daily Scoop 22-10-19
👋 Your Wednesday Scoops - United reaps ticket profits & Apple battles a union
Today's Scoop:Stalled
Have questions?
Big Picture
America's biggest corporations aren't feeling a major slowdown yet.
Mortgage rates have reached +20-year highs.
Home construction is slowing as high mortgage costs deter buyers.
The Market:
⬇️
-0.7%
S&P 500: 3,695.16
1Mo:
-4%
| 1Yr:
-19%
| 5Yr:
+44%
The market drifted lower today after two days of positivity.
Corporate financial updates have been better than feared.
The housing market continues to slow as mortgage rates soar.
The Mortgage Bankers Association reported that mortgage application volume fell for the fourth straight month to the lowest level since 1997. The average 30-year fixed-rate mortgage is almost 7%, the highest rate in more than twenty years.
Those high mortgage costs and waning homebuyer demand have depressed homebuilders. The Census Bureau reported
new construction for single-family homes fell to the lowest level in two years.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Apple
-
Netflix
-
P&G
-
BP
-
United Airlines
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Earnings Per Share (EPS)
is one of the two main metrics you'll find in the news about a corporation's quarterly financial update.
Earnings
is another word for
profit
, and so is
net income
. Earnings per share are the company's profit divided by the number of shares available. It's a standard way for an investor to evaluate whether the company is earning more or less profit this quarter than the investor expected. Understanding how much the stock price is marked up over the company's profitability is also helpful. If one company's share price is 15x higher than its earnings per share, investors are more confident in its future than a company whose share price is 12x its EPS.
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