Market Wrap – Target in an Attack of the Dribblers Crashes Nasdaq, May 18, 2022

Yesterday the markets continued with no fear in a FOMO bear market rally despite Walmart’s biggest daily fall since 1987 and Fed chair Powell reiterated raising rates and cutting free credit. The dribblers laughed and danced as their stocks squeezed. Today Target $TGT came in for the 1-2 to close at ‎-53.67 (‎-24.93%) also the biggest daily fall since 1987 None of the Dow 30 stocks closed positive on the day, the DJIA closed down -1164.52 points or -3.57% at 31490.06. … Continue reading “Market Wrap – Target in an Attack of the Dribblers Crashes Nasdaq, May 18, 2022”

Target Misses Earnings Metrics as Margins Collapse on Soaring Expenses

Retail giant Target Corporation on Wednesday reported worse than expected first-quarter earnings missing on major metrics. $TGT shares fell over 26%. Competitor Walmart reported yesterday and also sold off on its earnings miss for its largest single-day percentage decrease since 1987. Target management said fuel and freight costs will be $1 billion higher this year than it had expected, with little sign of their easing throughout 2022.  Target Corporation NYSE: TGT Reported Earnings Before Market Open Wednesday  $1.09 Missed $1.11 … Continue reading “Target Misses Earnings Metrics as Margins Collapse on Soaring Expenses”

Market Wrap – Walmart Trashed as Powell Came and Went May 17, 2022

The stock markets continued with no fear in a FOMO bear market rally. All this when Walmart had it’s biggest daily fall since 1987 and Fed chair Powell reiterated raising rates and cutting free credit. Never mind, the S&P 500 rose 2.0% on Tuesday, Nasdaq Composite (+2.8%) and Russell 2000 (+3.2%) while the Dow Jones Industrial Average rose 1.3%. Total retail sales increased 0.9% month-over-month in April (consensus 1.1%) following an upwardly revised 1.4% increase (from 0.5%) in March. The … Continue reading “Market Wrap – Walmart Trashed as Powell Came and Went May 17, 2022”

Home Depot Delivers Record Sales and Raises Guidance and Margins

Home Improvement Retailer Home Depot was in a position to take advantage of the upsurge in construction and renovation. $HD sales rose to the highest ever for the first quarter of the year. The company is still seeing healthy demand, even in the face of rising prices and a shaky housing market and raised guidance accordingly. Earnings HD earnings per share were $4.09, up from $3.86 a year earlier. Analysts expected earnings of $3.69 a share. First-quarter sales climbed to … Continue reading “Home Depot Delivers Record Sales and Raises Guidance and Margins”

Walmart Earnings Hit by Inflation, Lowers Forward Guidance

Retail giant Wal-Mart on Tuesday reported worse than expected first-quarter earnings and cut its full-year profit forecast, as surging costs cut into the bottom line of the world’s biggest retailer. WMT said it sees earnings falling by around 1%, compared to a prior forecast of a 5% to 6% increase. The stock was down 7% Premarket. “Bottomline results were unexpected and reflect the unusual environment. U.S. inflation levels, particularly in food and fuel,” said CEO Doug McMillon. Walmart Inc NYSE: … Continue reading “Walmart Earnings Hit by Inflation, Lowers Forward Guidance”

Market Wrap – Twitter Wars Live with Elon Musk and Jeff Bezos May 16, 2022

The stock markets continued in bear market rally mode, but the main distraction was Tesla’s Elon Musk feud on Twitter with Twitter chair over $TWTR numbers. We had another Billionaire, Amazon founder Jeff Bezos feuding with the Whitehouse over inflation blaming. Consumer discretionary sector was down the most with a 2.0% decline, this sector is down 8.4% this month and down 27.7% for the year. Tesla (TSLA 725.02, -44.52, -5.3%) and Amazon.com (AMZN 2224.63, -37.60, -1.7%) are notably dragging down the sector. Today’s winner … Continue reading “Market Wrap – Twitter Wars Live with Elon Musk and Jeff Bezos May 16, 2022”

Market Wrap – Bargain Hunters Lift NASDAQ Up into The Close May 12, 2022

The stock markets are still trading like they don’t want to go home short. Nasdaq erased -2.25% decline and closed marginally higher by 6.72 points or 0.06%. The Dow industrial average was down -605.89 points or -1.9% at its session lows and closed -103.83 points or -0.33% at 31730.29. S&P was down -76.38 points or -1.94% at its lows and closed -0.13% at 3930.09. From the all-time highs the Dow closed down -14.13% after trading as low as -15.49%, S&P … Continue reading “Market Wrap – Bargain Hunters Lift NASDAQ Up into The Close May 12, 2022”

Market Wrap – CPI, Apple and Tesla Fuel More Stock Market Wreckage May 11, 2022

Selling continued after CPI came in hotter than forecast, this time any recovery rally was quickly thrown back by the Bears. The S&P 500 fell 1.7%, Nasdaq Composite fell 3.2%, Russell 2000 fell 2.5% and Dow Jones Industrial Average declined 1.0%. Apple (AAPL 146.50, -8.01, -5.2%) and Tesla (TSLA 734.00, -66.04, -8.3%) led the destruction. DDD holdings were crushed again with Coinbase Global (COIN 53.72, -19.27, -26.4%) and Unity Software (U 30.30, -17.83, -37.1%) the latest to be pillaged. Natural Gas HH maintained its rally and bounced over $105 from … Continue reading “Market Wrap – CPI, Apple and Tesla Fuel More Stock Market Wreckage May 11, 2022”

Market Wrap – Coin and Bitcoin Add to Dirty Dribbler Stock Earnings Wreckage Continues May 10, 2022

Selling picked up early in the markets but did reverse from the new lows after a better than expected 3-year treasury auction. However, the recovery bounce had a tepid response. The major US indices ended the day mixed. The Dow industrial average closed down; S&P index virtually unchanged while the NASDAQ rose nearly 1%. Natural Gas crashed further to HH 6.50 area to reverse with a vicious almost $1 bounce. Oil for its part traded under $100 WTI. Rising interest … Continue reading “Market Wrap – Coin and Bitcoin Add to Dirty Dribbler Stock Earnings Wreckage Continues May 10, 2022”

Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed

Electric truck developer Rivian Automotive raised $11.9 billion to become the largest IPO of 2021. RIVN stock surged as high as $179 per share before crashing in 2022 to $20.88 on Monday following the expiration of the company’s IPO lockup period. Ford Motor sold off about 8% of its stockholdings pushing shares to an all-time low. Ford stock sold off also, down nearly 6% on the day. At one point Ford and Amazon had booked massive unrealized profits on their … Continue reading “Ford Sells Almost 8% in Electric Truck Developer Rivian Automotive as Soon as Allowed”