$IBM reported earnings and said that the Euro debt crisis weighed down its sales. Didn't seem to impact investors enthusiasm to buy the stock, as last I checked shares were up about 3% after hours.
But what I wanted to point out is that there are a lot of US companies that earn a bunch of revenue outside of the US. I think we're seeing that so far as these "multi-nationals" report. In addition, a lot of that revenue is denominated in the local currency. If the money is repatriated to the US, then the if the dollar is falling, there is an additional pop in the conversion to the greenback. But if the US dollar is gaining strength, profits denominated in foreign currencies would lose value in converting back to the greenback.
Just thinking out loud.
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IBM sales fall, dragged down by Europe
CNN MONEY | JULY 18, 2012
http://pulse.me/s/bpUaE
IBM delivered a positive profit outlook, but its sales were weighed down by the European debt crisis and came in weaker than expected... Read more
--
Sent via Pulse
IBM sales fall, dragged down by Europe
CNN MONEY | JULY 18, 2012
http://pulse.me/s/bpUaE
IBM delivered a positive profit outlook, but its sales were weighed down by the European debt crisis and came in weaker than expected... Read more
--
Sent via Pulse
