Analyst Ratings & Company Performance - Rothschild analyst Dominic Ball maintains a sell rating on Fire Serv, which has declined by 70% since the rating was issued [1][2] - Only 5% of analysts on the Bloomberg terminal issue sell ratings [3] - Global Payments is also rated as sell by only 6% of analysts covering it [9] - Fire Serv stock is down 40% over the past five years, while Global Payments is down 50% over the same period [16] Company Strategy & Challenges - Fire Serv's Clover product (a point of sale system) is facing issues, indicating a systemic problem [2] - Management at Fire Serv has focused too aggressively on Clover, potentially underinvesting in other areas [7] - Companies that have grown through M&A face challenges in consolidating and focusing R&D on new technologies [8][10][11] - Payments industry faces rapid technological changes, including the emergence of gig commerce and stablecoins [8] Competitive Landscape & Opportunities - Toast is highlighted as a strong competitor with a focused approach and significant market share gains in the restaurant vertical [9][14] - Toast is considered materially underrated, with the potential for significant growth and high margins [15] - Analyst has a target price of $60 for Toast, which IPO'd when interest rates were near 0% [17] - Toast has scaled to 35% EBIT margins within 18 months while adding more locations [18]

EQUITY FUTURES HIGHER ON THE S&P FUTURES, YIELDS MARGINALLY HIGHER ON THE 10 YEAR AND CRUDE CONTINUING TO FALL. THE REAL QUESTION HERE WITH THE OVERSUPPLY, EARNINGS FROM OIL GIANTS ARE CROSSING AT THIS HOUR AND EXXON SHARES LOWER. CHEVRON RISING AFTER POSTING STRONG RESULTS, JOINING US NOW IS THE HEAD OF RESEARCH.DAN, THANK YOU FOR BEING HERE. I'M WONDERING WITH OIL GIANTS WHAT IT TELLS YOU ABOUT THE PATH OF PRODUCTION IN THE MONTHS AND YEARS TO COME. DAN: THE EARNINGS HELP US TO CHECK IN ON THE KEY ASSUMPT ...

President Trump has wrapped up his time here in Asia, signing deals at every stop. It was all part of a bid to bolster the US's position ahead of that highly anticipated meeting with Chinese President Xi Jinping at the end of the visit. President Trump started in Malaysia and finalized framework trade agreements with the host country as well as Thailand, Vietnam, and Cambodia.Though light on details, the accords outline how the countries will roll back their own tariffs and regulations on US goods while bro ...

>> IT IS 5:00 A. M. IN NEW YORK CITY.I AM VONNIE QUINN WITH YOUR BLOOMBERG BRIEF. APPLE SEES A BLOCKBUSTER HOLIDAY SEASON WHILE AI POWERS AMAZON'S FASTEST GROWTH IN YEARS. FORGING AHEAD IN ASIA.NVIDIA STRIKES DEALS WITH SOUTH KOREA'S BIGGEST COMPANIES AND JENSEN HUANG SAYS HE HOPES TO SELL BLACKWELL CHIPS TO CHINA. NEXT UP IN EARNINGS, EXXON AND CHEVRON ON DECK LATER THIS MORNING. IT MIGHT'VE BEEN A DIFFICULT DAY WITH THE INDICES DOWN A PERCENTAGE POINT OR MORE APIECE.STILL GREEN ON THE WEEK AND BACK TO GRE ...

Poll positivity. Is that how we're ending this week of geopolitics, earnings and central banks. Yeah, hi.Equity has certainly been a bit of a roller coaster ride, hasn't it. And I think the, you know, the the in general, the Trump trip to Asia was pretty well received here. You know, we've got not everything solved.And definitely, you know, kind of big questions to come down the line. But at the moment we've got to choose. And that's pretty good for markets in general.Yes, there's been a little bit of a ret ...

And this language you use, naroterrorism, this is exactly the language that the Trump administration uses about Venezuela. And President Trump is saying after the boat strikes, the land will be next. Do you support US military strikes on the territory of Venezuela as part of what you call a process.I believe that the increase in pressure and the escalation that's taking place is the only way to force Maduro to understand that it's time to go. and those that still support him, which are not very few at this ...

Government Shutdown Impact - Air traffic controller staffing shortages due to government shutdowns create unsafe conditions and ground stops [6][7] - Government shutdowns affect the Low Income Home Energy Assistance Program (LIHEAP), impacting families' ability to heat homes [28][29] - Speaker needs to call the House back into session [1] Energy Policy and Industrial Policy - The US should pursue a bipartisan industrial policy focused on American energy dominance, including control over rare earth supply chains [17] - Focus on American energy, not crony capitalism, is needed [20][21] - Need next-generation geothermal, nuclear, offshore wind, and hydro for energy independence [30] - The president arbitrarily canceled offshore wind permits [10][26] US-China Relations and Technology - China gained leverage over the United States due to trade issues [16] - The president is trying to give the US government equity in equipping China to leapfrog the US in AI inference [19] - The United States should focus on its own competitiveness in science and technology, including doubling the NIH and NSF budget [22][23][24] Social Programs - SNAP (Supplemental Nutrition Assistance Program) is a program for children, with two-thirds of recipients being families with children [8][9] - Illegally withholding SNAP funds is callous and cruel [9] - States are stepping up to patch holes in SNAP benefits, but they cannot cover the full gap [10][11]

iPhone Strategy - The company is largely viewed as an iPhone company, with other products often purchased to complement the iPhone ecosystem [1] Wearables, Home and Accessories Business - A significant portion of this unit's sales comes from AirPods, boosted by the release of new AirPods Pro [2] - New Apple Watches, especially the baseline model priced around a couple hundred dollars, are considered excellent, particularly for new users [3] - The Apple Watch Series 11 is not a significant upgrade for Series 10 owners, but the wearables segment, including Homepods, is expected to gain momentum [4] - The company anticipates a turnaround in the Wearables, Home and Accessories category [4] - The company's smart home devices are not expected to contribute significantly to revenue, with Amazon and Google dominating that market [5][6] - The smart home devices are needed to maintain the ecosystem and prevent users from switching to competing devices [7] Future Product Pipeline - A foldable iPhone is anticipated by the end of next year [8] - New products with in-house chips are expected in March, including a new M5 MacBook Air, a new M4 iPad Air, and an entry-level iPad [8][9] - Smart home devices are expected in the March-April timeframe [9] - An updated AI strategy is expected in June [9] - Integration into services products is expected in September next year [9] - A more significant update to the mid-tier Apple Watch is expected at the end of next year [9] - Smartglasses and a tabletop robot are expected to roll out in 2027 [10] - A higher-end Vision Pro device is expected [10] - A foldable iPad with a gigantic screen is expected towards the end of the decade (2028-2029) [10]

US-China Relations - Both sides acknowledge existing agreements and anticipate further consensus [1] - The relationship between the two countries is generally stable [1] - Differences in national conditions lead to occasional disagreements [1] - Frictions are considered normal between the world's leading economies [1] Leadership & Vision - President Xi is recognized as a great leader of a great country [1] - The hope for a fantastic long-term relationship is expressed [1] - China's development is seen as aligned with the vision to "make America great again" [2] Cooperation & Prosperity - Both countries are capable of mutual success and prosperity [2] - The importance of maintaining the correct course for China-US relations is emphasized [2]

US-China Trade Relations - A one-year truce exists in US-China trade relations, but tensions remain from previous policies [1][2][8] - The US accounts for 15% of total global imports, and China accounts for 15% of global exports of goods, highlighting their mutual dependence [5] - The current trade situation is close to pre-"Liberation Day" tariffs, with some exceptions like fentanyl tariffs and licensing regimes on magnets [3][4] - Ambiguity persists on complex issues like Taiwan, TikTok, high-tech chips (BLACKWELL), and China's potential Boeing/oil purchases from Russia [4][5][6] Geopolitical Strategy and Alliances - The US should work with allies to develop secure supply chains, reducing dependence on China for rare earths [9] - Agreements with allies like Australia are crucial, and exploring opportunities in Latin America for rare earths is important [10] - China is considered the biggest competitor and strategic threat to the US, necessitating agreements with countries to pull them out of China's sphere of influence [11] - The US faces distrust and dislike globally, hindering cooperative agreements, despite other countries needing the US market and defense [16] Market Discipline and Future Outlook - Market discipline is expected to prevent an escalating trade war, as it would hurt both the US and China significantly [5][8][9] - The US has been perceived as an unreliable trade partner, with deals being made and then retracted, creating distrust [15][16] - A shift towards cooperative agreements, rather than a "bullying mentality," is needed for improved relations and cooperation [15][16]