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Wealth management firm $NTRS reported a 10% rise in 3Q16 earnings driven by higher revenue. Net income rose to $257.6MM or $1.08 per share from $234.6MM or $0.96 per share last year. Revenue grew to $1.21Bil from $1.16Bil. Non-interest income rose by 3% and net interest income grew by 13%.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."