Comment of Admiral Beatty to his Flag Captain at the battle of Jutland
after HMS Queen Mary blew up, 31 May 1916. It was the second of his
ships to be destroyed in 25 minutes:
16:00 hrs-16:05 hrs, Indefatigable explodes leaving two survivors.
16:25 hrs, Queen Mary disintegrates, twenty survive.
Although I had posted the story a few times previously, the most memorable usage was on September 15, 2008:
Things that make you go "Hmmm" (AIG; LEH)
Watching Lehman crossing on the tape at two bits. The world's largest property casualty insurer in the $5's. Hmmm. ...First up, the inspiration for the Battle of Jutland ramble:
"There's something wrong with our bloody ships today, Chatfield"
Stock market news today: Nasdaq sinks over 3% as Tesla, Alphabet triggered tech sell-off
The Nasdaq led US stocks lower on Wednesday after lackluster Alphabet and Tesla earnings stirred up worries that Big Tech's power to fuel gains is fading.
The benchmark S&P 500 (^GSPC) tumbled about 2.1%, and the Dow Jones Industrial Average (^DJI) dropped about 1%. The tech-heavy Nasdaq Composite (^IXIC) led the losses, falling about 3.4%.
Stocks are sinking as investors digest mixed quarterly earnings from Google parent Alphabet (GOOGL, GOOG) and Tesla (TSLA), the first of the "Magnificent 7" megacaps to report. EV maker Tesla's stock price slid more than 11%, while Alphabet shares dropped more than 5%.
Chip stocks also tumbled on Wednesday as Nvidia (NVDA) fell roughly 6% while Broadcom (AVGO) and Arm (ARM) each dropped about 7%....
....MORE at Yahoo Finance
And Also at YF, this time originating at the Motley Fool:
Why Tesla Stock Just Crashed
Tesla (NASDAQ: TSLA) stock fell 11% through 11:45 a.m. ET Wednesday after the company badly missed analyst forecasts for earnings Tuesday night.
Heading into the second-quarter report, Wall Street forecast the electric car leader would earn $0.62 per share on sales of $24.8 billion. Tesla exceeded the latter expectation, reporting Q2 sales of $25.5 billion. But this sales growth came at a cost to profit: Earnings were only $0.52 per share.
Tesla profits collapse
Not all Tesla's news was bad. Notably, the company's energy generation (i.e., solar panels) and storage (i.e., batteries) division -- which believe it or not is now more profitable (with an 18.9% gross profit margin) than the automotive business, doubled in size to $1.5 billion in sales. And free cash flow for the quarter increased nicely to $1.3 billion.Automotive sales, however, fell 7% year over year. And total sales were up an anemic 2%, despite beating estimates....
....MUCH MORE
Nasdaq 100 futures are down 700 points and the Nikkei had even bigger problems (both via FinViz):
