Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, September 15th, and I'm your host, Kim Khan. Our top story so far,

President Donald Trump said companies should not be forced to report earnings on a quarterly basis

and should switch to posting numbers on a six-month basis.

This will save money and allow managers to focus on properly running their companies, Trump

said.

The current SEC rules require companies to report results on a quarterly basis, but in the

UK and EU regulators require companies to file earnings twice a year, but they can choose

to post- quarterly statements.

Did you ever hear that statement that China has a 50-100-year view on the management of a company,

whereas we run our companies on a quarterly basis? Not good, Trump posted.

Mainland China listed companies are required to report quarterly earnings, as well as semi-annual and

annual. Hong Kong listed companies do not require quarterly reports, but they are required to post-interim

results. While I can name a ton of financial journalists who would welcome earnings season

just twice a year, longtime editor, Herb Greenberg, made the case for the status quo.

Reporting quarterly is a good thing, he said. The issue is guidance, short or long-term.

That's what creates short-term volatility as the algos and everybody else play that, and companies kow to the meet-or-beat game. So let me repeat, the issue isn't quarterly reporting but forward guidance, which would only get more extreme on a six-month basis. And while they're added, if they really want to address short-termism, they ought to get rid of adjusted earnings, too, he added. Among active stocks, Tesla hit an eight-month high after CEO Elon Musk snapped up

$2,568,732 shares of the company's stock. The shares were bought on September 12th in a price range

of 371.38 to $396.54 per share. The total amount of the Tesla stock purchase was over $1 billion.

Wedbush's bullish on early iPhone 17 sales. Apple's latest model became available for pre-order

this week, and analysts said there is strong consumer interest for the smartphone line,

despite some concerns related to the iPhone air. Analyst Dan Ive says,

...