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Provider of collegiate housing communities $EDR posted higher earnings during 2Q16 due to higher operating income results of 6.1%. Net income was $17.6MM or $0.26 per diluted share vs. $2.9MM or $0.06 per diluted share in 2Q15. Revenue rose 13% to $16.14MM vs. 2Q15, helped by increased collegiate housing leasing revenue in 2Q16.
Apple ($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%."