Diamonds and Dogs

7/27/16

The Apple in Wall Street's eye. Apple (AAPL) jumped 6% to new recent highs following better than expected earnings. Earnings beat by 4 cents, but sales fell 14% year over year and down 33% year over year in China. But looking forward, Apple raised estimates ahead of the iphone7 launch in the third quarter. iphone7 should initiate new growth as the analyst at Maxim sees a significant upgrade cycle coming, upgrading the stock with a $173 price target. Not bad.

Robert Half (RHI) going in the wrong direction. Robert Half is down 12% back toward its 52 week low after missing earnings estimates by 2 cents as revenue missed as well. To add insult to injury, Robert Half guided third quarter sales and earnings below consensus. Now the company expects revenue of $1.335-1.395 billion vs consensus of $1.40 billion while earnings should come in around $0.68-0.74 vs consensus of $0.8 a share. Not the best news for an employment company.

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