Martes 28/04/20 Precios de casas

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LAST CHG %CHG
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S&P 500 2863.39 -15.09 -0.52
Nasdaq Composite 8607.73 -122.43 -1.40
Japan: Nikkei 225 19771.19 -12.03 -0.06
UK: FTSE 100 5958.50 111.71 1.91
Crude Oil Futures 12.67 -0.11 -0.86
Gold Futures 1720.70 -3.10 -0.18
Yen 106.87 -0.38 -0.36
Euro 1.0826

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https://www.wsj.com/articles/trump-to-t ... 43?mod=mhp

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Alphabet stock rises more than 5% as ad slowdown turns out to be less than feared
PUBLISHED TUE, APR 28 20203:33 PM EDTUPDATED MOMENTS AGO
Jennifer Elias
@JENN_ELIAS
Jordan Novet
@JORDANNOVET
The company put cost-cutting measures in place during the quarter.
Revenue growth slowed, but investors expected much worse.
WATCH NOW
VIDEO01:10
Alphabet beats on revenue but misses EPS
Alphabet shares rose as much as 4% in extended trading on Tuesday after the company reported earnings for the first quarter.

Here’s how the company did:

Earnings: $9.87 per share, adjusted
Revenue: $41.16 billion
Cloud revenue: $2.78 billion
YouTube advertising revenue: $4.04 billion
Traffic acquisition costs: $7.45 billion

Alphabet’s revenue growth rate slowed to 13% in the quarter from 17% one quarter earlier, according to a statement. Though it’s difficult to say what caused the stock’s rise, investors were likely expecting much worse. Given the advertising spend pull-back from some of its major customers and its prior slowed ad growth, the results could have shown a steeper hit. Advertising still makes up the vast majority of Alphabet’s total revenue, at 82%.

Analysts surveyed by Refinitiv had expected $10.33 in adjusted earnings per share on $40.29 billion in revenue. Analysts polled by FactSet had expected $7.51 billion in traffic acquisition costs in the quarter. However, comparing Alphabet’s actual results with estimates isn’t straightforward given the difficulty of predicting the impact of the coronavirus.

On the conference call with analysts and investors, CEO Sundar Pichai said that usage of search, YouTube, and other apps and services was significantly higher as people looked for information on the coronavirus pandemic. Pichai gave an example of increasing engagement, saying coronavirus-related search activity in the US, at its peak, was four times greater than during the peak of the Super Bowl.

But ad revenues suffered even as engagement rose. “In March, we experienced a significant and sudden slowdown in ad revenue” due to the coronavirus pandemic, Pichai said. He said that the company delayed some ad launches as a result.

YouTube ad revenue grew 33% from last year, CFO Ruth Porat said in the earnings call. However, she noted that brand advertising saw a steep drop-off in March, while other forms of YouTube advertising did not.

Google’s total advertising revenues rose to $33.76 billion from $30.59 billion the prior year:

CH google_advertising_revenue_q1_2020.png
Porat declined to give detailed guidance about the second quarter, only saying it will be “a difficult one.”

“As we move beyond the crisis, and the global economy normalizes, this should be reflected in our advertising revenues,” she added. “But it would be premature to comment on timing given all the variables here.”

Travel companies like Expedia Group and Booking Holdings normally spend heavily on Google search ads, since so many travelers search for trips with terms like “flight to London” or “hotel in San Francisco.” But Expedia recently said it normally spends $5 billion on ads, but that it probably “won’t spend $1 billion” this year. Similarly, Booking could slash Google ad spending on Google from about $4 billion in 2019 to $1 billion to $2 billion this year, Mark Mahaney, an analyst at RBC Capital Markets, predicted.

On the expense side, Porat also said that overall capex would see a “modest decrease” in 2020 as the company reduces global office space and slows the pace at which it buys office building. She also said the company has adjusted its headcount expectations down -- the company had previously expected more than 20% headcount growth this year, but said it would start to decelerate in the fourth quarter.

Google’s “other revenue,” which includes hardware like its Pixel phones and cloud products, came in at $4.44 billion, compared to $3.62 billion in the same quarter a year ago.

Revenue from “Other Bets,” which includes Alphabet’s self-driving car business Waymo as well as life sciences company Verily, came in at at $135 million compared to $170 million in the same quarter the year prior. The Other Bets showed an operating loss of $1.12 billion during the quarter.

The company has begun to put some cost-cutting measures in place. Last week, CNBC reported that the company is cutting marketing budgets by as much as half while placing freezes on various parts across the company. It also told employees that it would be pulling back investments on from data centers and educational resources for workers. By contrast, the company’s headcount, which is the largest driver of R&D expenses, grew by 4,903 employees in the fourth quarter, a 20% increase from the year prior.

This is breaking news. Check back for updates.

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Good afternoon. Here's what you need to know to end your day.

Wall Street lost some momentum, and oil had another turbulent day.
U.S. virus cases topped 1 million; NYC hospital admissions dropped.
Trolls World Tour racked up some hair-raising rental revenue.
Stocks ended the day lower. The Nasdaq snapped a two-day winning streak, pulled down by Facebook, Amazon and Netflix, which weighed on major equity gauges. The dollar weakened.

Oil's being roiled again as investors bail on near-term contracts for fear of negative prices. June WTI sank as much as 21% before paring losses as S&P told clients to roll June futures into July immediately.
Adding fuel to the fire: That record-breaking U.S. economic expansion is over. And Americans are feeling it, with consumer confidence crashing in April to the lowest since 2014.
A bright note on the corporate side, though. 3M and Merck & Co. see the pandemic impact peaking this quarter, paving the way for some sort of rebound later in the year. As Pfizer CFO Frank D'Amelio put it: "Punch line: second-half recovery." Fingers crossed.
And in further corporate news, Google parent Alphabet's first-quarter revenue rose more than expected, while Starbucks's same-store sales fell 10% globally, slightly outpacing consensus. Ford plunged after predicting it will lose more than $5 billion in the second quarter.
What Else is Happening
The U.S. topped 1 million coronavirus cases even as New York City reported a drop in the number of people admitted to hospitals and the state's governor laid out criteria necessary for some upstate regions to reopen. Meantime, Donald Trump defended his early, dismissive response to the outbreak, saying he was told late in February that " this is going to blow over." Separately, the president will require meat-processing plants to remain open, declaring them critical infrastructure, according to people familiar.

Companies that abuse the small business relief program will be subject to "criminal liability," Steven Mnuchin warned. All loans of more than $2 million will be audited to ensure they were justified after large public companies sparked outrage by taking funds, the Treasury secretary told CNBC. He also said that the federal government won't bail out "states that were mismanaged" before the pandemic hit.

Boeing is facing even more scrutiny as federal prosecutors and regulators examine potential safety problems stemming from 737 Max production faults, the WSJ said. Investigators are probing factory missteps that "raise red flags" about the planemaker's compliance with production regulations. The investigation could bring additional legal liability for Boeing, and the FAA is weighing whether to propose a multimillion-dollar fine.

Hillary Clinton will endorse Joe Biden, joining Democratic leaders who are coalescing around the presumptive nominee. She'll join the former VP at a scheduled town hall on the impact of the pandemic on women. This is all assuming of course, the vote will still take place as planned. Two-thirds of Americans believe the November presidential election will be disrupted by the pandemic, according to a Pew Research survey.

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