Is There An iPhone 6+ in the House?; Jack Ma’s Very Good Day; Clorox Says “Adios” to Venezuela

Best. Ever…

Image courtesy of jannoon028/FreeDigitalPhotos.net

Image courtesy of jannoon028/FreeDigitalPhotos.net

Apple had an awesome weekend selling more than 10 million new iPhones in what has turned out to be Apple’s best debut weekend for an iPhone. Ever. There were of course some major movie debuts, as well. But who cares because it seems everybody was standing on line waiting to grab their new iPhones instead. The big mystery, it seems, is which iPhone did people buy? Was it the $199 iPhone 6 or the $299 iPhone 6+ aka “the bigger one.” By September 26, 20 more countries will be afforded the opportunity to purchase the device. Which brings us to another big mystery – namely, that China, undoubtedly one of the largest smartphone markets will not be one of those countries.  In fact, it’s not known, if or when China will ever be launching the iconic devices on its shores because apparently…wait for it…the device still needs “government approval” from the Chinese government, that is.

Speaking of China…

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

It’s official. After all the hype and hoopla, Alibaba, the New York Stock Exchange’s newest “it” stock, did live up to all the chatter surrounding its debut.  The stock now holds the record for being the biggest IPO. Ever. In the world. Ever. Easily leaving Facebook’s IPO record in the dust. CEO Jack Ma, with minimal effort, raised $25 billion and the stock began trading on Friday at 35% higher than its $68 IPO price. Today, however, shares are down – below $90, still way way way above it’s IPO price. The ticker symbol, by the way, is BABA. Catchy, right? I thought so too.

Adios…

Image courtesy of artur84/FreeDigitalPhotos.net

Image courtesy of artur84/FreeDigitalPhotos.net

Venezuela is about to get a whole lot dirtier as Clorox pulls the plug on its operations over there. For the last three years, the price of Clorox products remained frozen, courtesy of the Venezuelan government. Not all of Clorox’s products had a price freeze -but 2/3s of them did, which made it pretty difficult not to operate at a regular staggering loss. But the price freeze alone wasn’t the only problem. Triple digit inflation led to higher prices for raw materials, packaging, wages, transportation, and other very important things necessary to run a company. Of course, the suits at Clorox graciously tried to explain the arithmetic to the Venezulan government officials but they just wouldn’t play ball. Sure they agreed to increase prices, but not enough. In fact, it was nowhere near enough. Wall Street clearly thought the decision to bail on Venezuela to be muy bien and sent shares of company north (no pun intended – okay, well maybe just a little).

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Wall Street Is Sour On Lulu, Phil Mickelson In the Clear and Sale Away

Namistakes…

Image courtesy of Master isolated images/FreeDigitalPhotos.net

Image courtesy of Master isolated images/FreeDigitalPhotos.net

Shares of Lululemon (LULU) went sour today after the company announced its quarterly earnings. While the athletic apparel company barely beat Wall Street’s predictions by $0.02 a share, its profits fell to a very un-zen $19 million from over $47 million a year ago. Its see-through yoga pants debacle certainly helped bring in those awful numbers. But it wouldn’t be right not to mention and wonder if some of these earnings come courtesy of Lululemon’s founder (no longer, chairman) and biggest shareholder Chip Wilson. Wilson idiotically remarked that heavy – and even not so heavy women – should steer clear of his company’s merchandise. An ignorant statement like that – see-through yoga pants or not – ought to help destroy a company’s earnings. Besides that, the company is staring at some fierce competition from Gap’s Athleta brand and Under Armour. Shares of the company went downward dog by 35% in the past twelve months.

SEC no longer teed off at Phil?

Image courtesy of Naypong/FreeDigitalPhotos.net

Image courtesy of Naypong/FreeDigitalPhotos.net

Pro-golfer Phil Mickelson is happily teeing off now that SEC is pulling back from its investigation into whether he might have been involved in insider trading. Apparently the eleventh ranked golfer in the world wasn’t buying Clorox, shares of it that is, while billionaire Carl Icahn was planning to buy the company. However, the Feds are still curious about some “well-timed trades” by Mickelson and his buddy, pro-gambler Billy Walters back in 2012. While Phil Mickelson scored a million bucks on those trades, Walters allegedly notched a whopping $15 million on shares of Dean Foods.

Where o’ where does the economy stand?

Image courtesy of jscreationzs/FreeDigitalPhotos.net

Image courtesy of jscreationzs/FreeDigitalPhotos.net

The economy once again is toying with our emotions as it continues to pull in numbers with very mixed messages. The good news is that retail increased. The bad news is that it didn’t increase enough gaining only by 0.3% instead of the 0.6% predicted (and hoped for) by some supremely intelligent economists. Then there’s our fickle little job market. The good news: In May we say 217,000 jobs added. It’s been five years since the country has seen monthly job growth of over 200,000 per month. Yippee, right? No because the bad news: The number of people filing for unemployment went up to 317,000 last week. However, that number is still less than the yearly average so a slight yippee can be uttered. Then there’s the issue of wage growth. The issue being that wages aren’t doing that much growing.

Phil Mickelson Teeing Off the Feds? Million Dollar Dream Date and Donut Downer

The Bleachers (No. Not the band. But they do have an amazing song you should check out)…

Image courtesy of nuttakit/FreeDigitalPhotos.net

Image courtesy of nuttakit/FreeDigitalPhotos.net

Looks like Phil Mickelson’s got bigger problems than his flailing golf game. The Feds are investigating the golf great for insider trading. It should be duly noted that there are no official allegations yet. It all began in 2011 when Carl Icahn developed a thing for cleanliness and started buying up copious amounts of shares of Clorox (CLX). Oh the irony of Carl Icahn buying shares of something he’s likely never used. He then went for a takeover bid. So the stuff you use to clean your bathroom is making major financial headlines. In any case, shares of the company rose a lot as they tend to do under these circumstances. But before there was mention of a takeover bid, Mickelson and Las Vegas Sports bettor William Walters also bought lots and lots shares. Which kind of made the Feds and the SEC start to wonder if the golfer and bettor knew about the impending takeover from the investor. And that, my friends, is a very big problem.

Whose picking up the check?

Image courtesy of KEKO64/FreeDigitalPhotos.net

Image courtesy of KEKO64/FreeDigitalPhotos.net

How much would you pay for a dream date? What if that dream date was with the very dreamy Warren Buffet? It may not be what you had in mind but people are willing to shell out millions of dollars to spend some quality dining time with the Oracle of Omaha. Bidding has begun for the much sought after lunch date with the CEO of Berkshire Hathaway (BRKA). Proceeds go to the San-Francisco based Glide Foundation, an organization that provides numerous invaluable resources for the homeless. In 2012, the winning bid was almost $3.5 million. Last year’s winning bid was only just over a million dollars. This year’s bidding is currently up to just over $350,000. But you needn’t fret. There are still three days left to cast your winning bid for what had better be the ultimate dining experience.

Krispy Krummy…

Image courtesy of Witthaya Phonsawat/FreeDigitalPhotos.net

Image courtesy of Witthaya Phonsawat/FreeDigitalPhotos.net

Krispy Kreme’s (KKD) stock is going to mush. The ultimate in donut perfection, surprisingly, shockingly, horrifyingly, missed its earnings forecast. The maker behind one of America’s greatest innovations pulled in $121.6 in first quarter revenue and you might think that’s a lot of donuts. But Wall Street was expecting over $126 million – which is a bit harsh, if you ask me. Maybe Wall Street needs to spread some donut love. Naturally, the harsh winter was blamed. Curse you winter of 2014 for causing our beloved donut to be fiscally tarnished!