Sunday, August 12, 2018

All 60 Largest California Companies With Stock Market Caps Above $10 Bil Which Released Their June 2018 Quarter End Earnings By August 10, 2018 Generated June 2018 Quarter Total US GAAP Pretax Income (PTI) From Continuing Operations of $62.174 Bil, Up 6.5% From Their Total PTI of $58.360 Bil in Their June 2017 Quarter. This 6.5% Earnings Growth Doesn't Vary Much From Their 5.6% Earnings Growth in the March 2018 Quarter Over the March 2017 Quarter ........................................................................................

But the Company Details Vary Enormously

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All 27 Largest California Technology Companies With Stock Market Caps Above $10 Bil Posted June 2018 Quarter Total US GAAP Pretax Income (PTI) From Continuing Operations of $38.195 Bil, Up a Robust 20% From Their Total PTI of $31.918 Bil in Their June 2017 Quarter. But On the Downside, This 20% Earnings Growth Is a Marked Earnings Growth Deceleration From Their Exceptional 32% Earnings Growth in the March 2018 Quarter Over the March 2017 Quarter ........................................................................................
California Oil & Gas Giant Chevron Posted June 2018 Quarter Total US GAAP Pretax Income (PTI) From Continuing Operations of $4.905 Bil, Up an Off-the-Charts 151% From  Its Total PTI of $1.953 Bil in Its June 2017 Quarter. This 151% Earnings Growth Is a Strong Earnings Growth Acceleration From Its Already Exceptional 62% Earnings Growth in the March 2018 Quarter Over the March 2017 Quarter 
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Now For the Economic Disaster.  The 32 Largest California Non-Technology Companies Other Than Chevron With Stock Market Caps Above $10 Bil Posted June 2018 Quarter Total US GAAP Pretax Income (PTI) From Continuing Operations of $19.074 Bil, a Massive 22% Decline From Their Total PTI of $24.489 Bil in Their June 2017 Quarter.  And in Their March 2018 Quarter, These 32 California Companies Posted an Even Higher 31% Earnings Decline From Their March 2017 Quarter ........................................................................................

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations for the June 2018, the June 2017, the March 2018 and the March 2017 Quarters for the 60 Largest California Companies including Partnerships and REITs with June Quarter Ends, which have reported their June 2018 Quarter Earnings By August 10, 2018 and which had stock market caps above $10 Bil in April 2018.

US US US US
GAAP GAAP GAAP GAAP
California Companies Pretax Pretax Pretax Pretax
Market Caps Above $10 Bil Income Income % Income Income %
With June Quarter Ends (Loss) (Loss) Change (Loss) (Loss) Change
Releasing June 2018  June Qtr June Qtr Better March Qtr March Qtr Better
 Qtr Earnings By 8-10-18 2018 2017 (Worse) 2018 2017 (Worse)
mils $ mils $ mils $ mils $
Technology Cos
Apple          13,284          11,308 17%          16,168          14,684 10%
Facebook            5,868            4,488 31%            5,610            3,408 65%
Intel            5,529            4,572 21%            5,011            3,815 31%
Alphabet            4,215            4,377 -4%          10,543            6,819 55%
Visa            2,812            2,914 -4%            3,217            2,702 19%
Lam Research               958               603 59%               772               531 45%
QUALCOMM               956               858 11%               358               857 -58%
Western Digital               729               415 76%             (128)               304 -142%
eBay               707               462 53%               547               558 -2%
PayPal Holdings               609               447 36%               548               438 25%
Seagate Technology               466               120 288%               393               212 85%
Netflix               429                 14 2964%               300               224 34%
Activision Blizzard               408               293 39%               567               453 25%
KLA-Tencor               406               325 25%               366               319 15%
Electronic Arts               319               749 -57%               754               716 5%
Check Point Software               240               233 3%               228               221 3%
Maxim Integrated Products               224               196 14%               222               170 31%
Xilinx               213               171 25%               186               171 9%
Arista Networks               163               117 39%               143                 74 93%
Cadence Design Systems                 90                 77 17%                 78                 74 5%
Twitter                 66             (113) 158%                 64               (58) 210%
Dropbox                 (3)               (26) 88%             (464)               (33) -1306%
Square Inc                 (5)               (15) 67%               (24)               (15) -60%
Atlassian Corp               (22)               (32) 31%                 (8)               (23) 65%
ServiceNow               (41)               (58) 29%                 (7)               (23) 70%
Symantec               (73)             (134) 46%               (61)             (248) 75%
Snap             (352)             (443) 21%             (384)          (2,212) 83%
Total all 27 Technology Cos          38,195          31,918 20%          44,999          34,138 32%
Oil & Gas Co
Chevron            4,905            1,953 151%            5,073            3,129 62%
All Non-Technology Cos But Chevron
Wells Fargo            7,119            8,139 -13%            6,701            7,858 -15%
Walt Disney            3,854            3,618 7%            3,928            3,751 5%
Amgen            2,647            2,542 4%            2,619            2,460 6%
Gilead Sciences            2,086            4,115 -49%            2,033            3,617 -44%
Charles Schwab            1,131               909 24%            1,002               843 19%
Nektar Therapeutics               975               (60) -1725%               (96)               (64) -50%
Franklin Resources               447               644 -31%               633               628 1%
Public Storage               405               355 14%               344               344 0%
Prologis               379               303 25%               409               230 78%
Monster Beverage               358               347 3%               282               265 6%
SVB Financial Group               324               204 59%               282               159 77%
Clorox               306               295 4%               242               247 -2%
CBRE Group               300               273 10%               196               193 2%
Intuitive Surgical                296               270 10%               290               202 44%
Edison Intl               289               335 -14%               211               352 -40%
First Republic Bank               252               220 15%               246               214 15%
Edwards Lifesciences               251               206 22%               264               293 -10%
Illumina               232               141 65%               221               503 -56%
Resmed               141               122 16%               130               108 20%
Align Technologies               114                 85 34%                 99                 62 60%
Essex Property Trust               106                 76 39%                 97               188 -48%
Realty Income Corp                 97                 81 20%                 83                 89 -7%
Varian Medical                 92                 89 3%                 96                 90 7%
Digital Realty Trust                 88                 80 10%               110                 85 29%
HCP Inc                 88                 19 363%                 38               458 -92%
Equinix                 74                 55 35%                 80                 55 45%
Alexandria Real Estate Equities                 61                 41 49%               142                 48 196%
McKesson                   6               458 -99%          (1,094)            4,674 -123%
Biomarin Pharmaceuticals               (29)               (46) 37%               (51)               (24) -113%
Tesla             (729)             (386) -89%             (779)             (372) -109%
Sempra Energy          (1,113)               415 -368%               647               747 -13%
PG&E Corp          (1,573)               544 -389%               496               688 -28%
Total all 32 Non-Tech Cos But Chevron          19,074          24,489 -22%          19,901          28,991 -31%
Total all 60 California Cos          62,174          58,360 6.5%          69,973          66,258 5.6%