On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney discusses what caused a surge in the British pound and highlights the departure of CEOs from Alibaba and CBS. He also recaps Apple’s war of words with President Donald Trump and previews its iPhone reveal event. Later, the host discusses the significant reversal of Facebook’s earnings estimate trend.
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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
AAPL - Free Report) is gearing up for a big week as the iPhone maker is expected to announce three new versions of its marquee device on Wednesday, all of which will likely build on the iPhone X framework and one of which will be a budget-friendly option.
But Apple’s spotlight was muted on Monday after the company received public backlash from President Donald Trump. After Apple noted in a filing that consumers could see higher prices thanks to Trump’s expanded tariff plan, the president took to Twitter to suggest that Cupertino, California-based firm move its production facilities back to the U.S.
Elsewhere, the British pound surged against the dollar on Monday morning after European negotiators hinted that a Brexit deal could be finalized within the next six to eight weeks. An agreement on Britain’s departure from the European Union would end one of the continent’s longest and most frustrating points of uncertainty.
Wall Street on Monday was also grappling over the news of a pair of key executive departures, with Jack Ma of Alibaba (
BABA - Free Report) announcing he will step down as chairman in one year and Les Moonves of CBS ( CBS - Free Report) resigning as sexual misconduct allegations against him keep mounting up.
Ryan recaps all of these stories and gives viewers his own take on the headlines during the first half of today’s show!
Later, the host takes another deep dive into Facebook (
FB - Free Report) . A couple weeks back, Ryan highlighted Facebook’s impressive revenue growth and pointed to key company initiatives which have allowed the social media behemoth to keep improving its top line at a healthy rate.
These issues pose serious concerns for Facebook in the long-term, and to tackle them now, the company is hiring more people and investing in new strategies—two things which will take a chunk out of its bottom line.
This is evident in Facebook’s earnings estimate trend, as the internet powerhouse has witnessed a flurry of downward revisions in recent weeks and now sits at a Zacks Rank #5 (Strong Sell).
Check out today’s episode to see Ryan discuss Facebook’s problems and investigate its latest earnings trends!
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