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and that's why the market were hired today and make no mistake this move is all about REM death severe I can say that with confidence because we're right in the middle of earnings season and Wall Street hasn't exactly been thrilled with many of these reports let's go over some when you look at the five big companies that reported last night this morning four of them were actually received poorly on earnings basis Andy Starbucks General Electric and Boeing although ball he finished up nearly six percent for reasons other than earnings or demand the long winter was alphabets on an Ernie spaces as usual all the macro data was terrible I mean you can't even look at these numbers because they seem so 1932 it ain't nothing new there that did not seem any significance was old Gilead I know this because I interviewed the CEOs of Bowie Starbucks GE and AMD this morning in each case their weakest stem from the pandemic Lisa sue the brilliant CEO of AMD put up a fantastic number gave a solid forecast despite Kovac 19 the fact that she even had a forecast was actually a big deal however she trimmed the low end of her sales guidance kovat of course and the analyst pronounced it a slowdown some of them even whispered that AMD is beginning to see this lead the processors and it to Intel that's nonsense and be delivered excellent quarter that was slowed by customers who are dealing with a deadly virus that shut down vast swathes of the global economy it's a testament to the strength of AMD's n Marcos laptops data centers gaming that the numbers were so strongly even this tough environment give me a break the truth is AMD ran up to the quarter now it's getting hit with all the predictable sell offs like every time I buy it if we can get cove it under control sooner than expected enemy's fourth-quarter gigantic then there's Starbucks we've got slammed the beginning of the quarter because they had lots of exposure to China Bank got slammed again at the end of the quarter when they have lots of merger to here in the rest of the world only forced them to close here at the stores in America now there's no way this could be anything but a horrible quarter so it's all before but now China's reopen and Starbucks is putting up new stores with alacrity there another week they'll start opening their shuttered stores here in America once that happens I bet Starbucks returns to growth mode because people need their caffeine they love that nitro stocks of by next I might as well lump Boeing General Electric together because there's something from the same ailment this pandemic has wrecked the aerospace industry and the 737 max debacle sure didn't help we have no idea when the FAA will let the max fly again I know Southwest air said that they don't expect any good news on this front until the end of October but the real problem is that nobody's flying right now demand so the airlines are stretched thin and lots of them are cancelling their orders Boeing Jie desperately needs this virus to be contained Ram Dass severe makes that a real possibility because it starts the process of removing the huge and justifiable fear factor why didn't bond managed to rally if it's Jie didn't go I think it's because Boeing's new CEO David Calhoun came on squawk on the street this morning made us feel like he's gotta get alone meaning he can borrow money that we backstop by the Fed probably a low rate and not so equity the Treasury Department is some fear it wouldn't surprise me if they augment that bar with a gigantic issuance of equity like Southwest erred it's very successfully this morning hey listen if Boeing does the seconder here by as for GE I don't know what to say except that it's better to be lucky than good they're not lucky still I believe in CEO Larry Cole but I believe in his ability to turn things around with this friend s of your data I think GE 2 is a buy how about outfit they put a good quarter so let's stock rally nearly 9% did that contribute to the rally well wait a second Ruth Porat alphabets fabulous CFO mentioned that there might be some green shoots in advertising when all as that was really visible before this was a burn down lon but then she spent the rest of the conference poopoo you're on optimism the real reason alphabet Ward well the word they used was efficient the word I use is prophecy as in the end of an era of prophecy in the beginning of an era of aggressive profitability when alphabet is one of these periodic cycles where it's trying to make as much money as possible like it did coming out of the Great Recession you got on this stock this one took you by surprise I gotten used to blonde quarters top blowouts losing streak over but you can't really extrapolate from mouth but to anybody else today is all about this drug Krae
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