10 Things You Need To Know Before The Opening Bell

boston pursuit

Good morning. Here’s what you need to know:

  • Boston suffered a terrifying night of violence and a suspected marathon bomber remains at large. The suspect has been reported as 19-year-old Dzhokhar Tsarnev, a legal U.S. resident. The second suspected bomber, reportedly Tsarnev’s brother, was killed during a police pursuit that led authorities across the city. The brothers allegedly shot and killed an MIT campus police officer earlier in the evening, according to a Middlesex County DA release. Authorities then chased them from Cambridge to the Watertown neighbourhood, a 20-minutes’ drive, after they hijacked a car at gunpoint. The pair reportedly threw explosives. 

Wednesday earnings recap:

  • Google beat on profits and fell short on revenue — non-GAAP earnings $11.58 versus $10.69 expected, revenues $13.97 billion versus $14.04 billion expected. Larry Page may have hinted at upcoming changes to Motorola phones when he noted several common complaints for all smartphones like short battery life and fragility.    
  • Microsoft earnings beat and revenues were in line — earnings $0.73 versus $0.68 expected, revenues $20.49 billion versus $20.56 billion expected. The company said sales of Windows were holding on despite plummeting PC sales thanks to mobile devices.   
  • IBM missed on profits and sales — $3.00 versus $3.05 expected, revenues $23.41 billion versus $24.62 billion expected. The company’s systems and technology unit was down 17 per cent.  
  • Chipotle beat big on earnings and revenue earnings. Earnings $2.45 versus $2.14 expected, revenues $726.8 million versus $724.8 million expected. Company officials cited increased traffic though warned on rising food and rent costs. The stock ended up trading above 7% after hours. 

In other news:

  • Asia trading finished slightly higher, with Japan’s Nikkei index up 0.73% and the MSCI’s Asia-Pacific index up 0.9%.  
  • Commodities appear to be stabilizing after spending the past week in freefall. Oil, gold and silver were all trading higher. 
  • Reuters reports Blackstone pulled out of talks to buy Dell. The private equity firm citing foundering PC sales.  
  • The FAA will announce Friday it has approved Boeing’s plans to fix the 787 Dreamliner’s battery glitches, the New York Times’ Christopher Drew reports. The changes “would virtually eliminate concerns that the lithium-ion batteries could erupt in smoke or fire,” he writes.
  • Former Pakistani President Pervez Musharraf was placed under house arrest. He’s accused of unlawfully detaining judges over a 2007 constitutional crisis.
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