Solid gains
It looks like a good day for earnings with Visa, Microsoft and Facebook all beating estimates.
Microsoft:
- Rev $30.6B vs $29.9B expected
- EPS $1.14 vs $1.00 estimate
- Cloud computer also beat
Shares at $128.00 versus $125.30 at the close.
Facebook:
- Revenue $15.08B vs $14.97B exp
- Daily active users 1.56B vs 1.56B exp
- Takes $3B legal expense
- Shares up to $191 vs $182 at the close
Excluding the legal expense, it would have been a bigger win.
Visa:
- EPS $1.31 vs $1.24 estimate
- Operating revenue $5.5B vs $5.47B estimate
- Shares $161.65 vs $161.50 at the close
This should be a tailwind for USD/JPY in the day ahead as money keeps flooding into US stocks (and out of Europe).
On the flipside, shares of Chipoltle were down despite some seemingly great earnings (it's had a monster run this year). Paypal and some others are still to come. It's a busy, busy day for earnings.
Update: MSFT and FB continue to climb higher but Visa is now down 1.5%. We're also waiting on Tesla.
