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[color=purple][i][b]Where have we been and where are we .. wishing all a good & safe week in year of RAT & BAT.
We had windy day as remants of TD Laura blew there …. “N” storm coning in 2 days & possibly “O”
Still nature hikes, photography, and gardening have been great in SW VA — so make best of each day
Do hope some of unrest in our land settles & hoping for good news on stopping virus as well :)[/b][/i][/color]
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[b]JOKE OF WEEK — did you hear of guy in bar who ordered 2 coronas & a hurricane?
It ending up costing $20.20 :woohoo:[/b][b][color=blue]BONUS – Microsoft Flight Simulator – Classic 1982-1989 versions can run in browser
(free open source – click on link & use keyboard controls – loved to play in early days of PC support)[/color]
https://traderscommunity.com/index.php/community/tech/2362-microsoft-flight-simulator-classic-1982-version-can-run-in-browser/14323…%5B/b%5D[article]2181[/article]
ENJOY SUMMER of 2020 while ya can 🙂
[b][size=4][i][color=purple]and a good MONDAY today — even the DOW JONES aint safe in 2020 😉
Hasta La Vista: EXXON, Raytheon. and Pfizer :ohmy: plus 4-1 APPL split factors in 😆
The WALL ST barons & fund managers are also in buy/sell mode to re-balance portfolios :whistle:
and time for PIT TRADERS to harvest a few SHEEP :woohoo:[/color] [/i][/size]
https://www.marketwatch.com/story/of-all-the-major-changes-to-the-dow-on-monday-this-may-be-the-most-important-11598845767%5B/b%5DDJIA COMPONENTS AS OF 8/31/20
1 UnitedHealth Group 314.37
2 Home Depot Inc. 286.29
[color=purple][b]3 Salesforce.com 271.10
4 Amgen Inc. 253.12[/b][/color]
5 Microsoft Inc. 228.91
6 Visa Inc. 215.71
7 McDonald’s Corp. 214.91
8 Goldman Sachs 207.71
9 Boeing Co. 175.80
10 Honeywell International 168.38
11 3M Co. 165.66
12 Johnson & Johnson 153.64
13 Caterpillar Inc. 143.63
14 Walmart Inc. 140.30
15 Procter & Gamble Co. 138.77
16 Walt Disney Co. 135.54
17 IBM 125.07
18 Apple Inc. 124.80 (split-adjusted)
19 Travelers Cos. 115.89
20 Nike Inc. 112.29
21 JPMorgan Chase & Co. 102.77
22 American Express 102.54
23 Merck & Co. 85.65
24 Chevron Corp. 85.63
25 Verizon Communications 59.26
26 Intel Corp. 50.43
27 Coca-Cola Co. 49.83
28 Dow Inc. 46.05
29 Cisco Systems 42.20
30 Walgreens Boots Alliance Inc. 38.76
Source: FactSet New entrants in bold[quote=”CautiousInvestor” post=14325][b][size=4][i][color=purple]and a good MONDAY today — even the DOW JONES aint safe in 2020 😉
Hasta La Vista: EXXON, Raytheon. and Pfizer :ohmy: plus 4-1 APPL split factors in 😆
The WALL ST barons & fund managers are also in buy/sell mode to re-balance portfolios :whistle:
and time for PIT TRADERS to harvest a few SHEEP :woohoo:[/color] [/i][/size]
https://www.marketwatch.com/story/of-all-the-major-changes-to-the-dow-on-monday-this-may-be-the-most-important-11598845767%5B/b%5DDJIA COMPONENTS AS OF 8/31/20
1 UnitedHealth Group 314.37
2 Home Depot Inc. 286.29
[color=purple][b]3 Salesforce.com 271.10
4 Amgen Inc. 253.12[/b][/color]
5 Microsoft Inc. 228.91
6 Visa Inc. 215.71
7 McDonald’s Corp. 214.91
8 Goldman Sachs 207.71
9 Boeing Co. 175.80
10 Honeywell International 168.38
11 3M Co. 165.66
12 Johnson & Johnson 153.64
13 Caterpillar Inc. 143.63
14 Walmart Inc. 140.30
15 Procter & Gamble Co. 138.77
16 Walt Disney Co. 135.54
17 IBM 125.07
18 Apple Inc. 124.80 (split-adjusted)
19 Travelers Cos. 115.89
20 Nike Inc. 112.29
21 JPMorgan Chase & Co. 102.77
22 American Express 102.54
23 Merck & Co. 85.65
24 Chevron Corp. 85.63
25 Verizon Communications 59.26
26 Intel Corp. 50.43
27 Coca-Cola Co. 49.83
28 Dow Inc. 46.05
29 Cisco Systems 42.20
30 Walgreens Boots Alliance Inc. 38.76
Source: FactSet New entrants in boldhttps://www.youtube.com/watch?v=WWU6hpPJG_c%5B/quote%5D
Apple’s 4-for-1 stock split has propelled $AAPL, the S&P 500 and NASDAQ to record highs it has also prompted major changes in the Dow Jones Industrial Average. Salesforce.com will replace Exxon Mobil, Amgen will replace Pfizer and Honeywell International will replace Raytheon Technologies.
https://traderscommunity.com/index.php/stocks/1909-salesforce-amgen-and-honeywell-added-to-dow
Gapping up
In reaction to earnings/guidance:
CTLT +2.8%
M&A news:
AIMT +170.7% (to be acquired by unit of Nestlé Health Science (NSRGY) for 34.50 per share)
Other news:
AKCA +59.1% (presents Phase 2 clinical data of AKCEA-APOCIII-L)
CRMD +13.7% (FDA has accepted its NDA for Defencath for the prevention of catheter related blood stream infections; PDUFA goal date of February 28, 2021)
GME +11.3% (indicated higher after RC Ventures disclosed 9% active stake)
NGM +8.3% (presents comprehensive findings from 24-Week Phase 2 study (Cohort 4) of Aldafermin)
BCRX +5.5% (granted Orphan Drug designation for its oral Factor D inhibitor, BCX9930, for the treatment of paroxysmal nocturnal hemoglobinuria)
AMRN +5.3% (reports results of the EVAPORATE Trial met primary endpoint)
DISH +5.1% (WSJ report that AT&T is in early talks to explore a deal for its DirecTV business)
KOPN +4.6% (announced that its BDM WVGA LCD module and A912 Driver IC have been chosen by Medisim Ltd. for its BinoVision goggles)
AXSM +3.4% (confirms pivotal status and advancement of AXS-05 for the treatment of Alzheimer’s disease agitation based on successful FDA Breakthrough Therapy meeting )
ARWR +2.5% (presents new phase 1/2 clinical data on cardiometabolic candidates ARO-APOC3 and ARO-ANG3)
AWK +1.5% (American Water Works’ Iowa American Water unit files request to adjust its rate)
BLUE +1.4% (reports new results from clinical development program of elivaldogene autotemcel Gene Therapy for Cerebral Adrenoleukodystrophy)
SAVE +1.4% (provides investor update; continues to experience significant adverse impact of the material decline in air travel demand due to the COVID-19 pandemic)
T +1.1% (in early talks to explore a deal for its DirecTV business, with potential bidders said to include Apollo Global Management (APO), according to WSJ)
HUN +1.1% (to sell its remaining interest in Venator Materials)
TSLA +0.9% (following stock split)
AAPL +0.8% (following stock split)Analyst comments:
RXT +5.5% (initiated with a Buy at Goldman; initiated with an Overweight at Barclays, among others)
SPCE +4.2% (initiated with an Outperform at Cowen)
OSH +3.5% (initiated with a Buy at Goldman)
BYND +2.5% (upgraded to Neutral from Sell at Citigroup)Gapping down
In reaction to earnings/guidance:
RGS -0.9%
Other news:
LPCN -18.8% (provides regulatory update for TLANDO; FDA needs additional time to complete review of NDA)
PRVB -9.4% (initiates Phase 2b PROACTIVE (PROvention Amgen Celiac ProtecTIVE) study of PRV-015, an anti-interleukin-15 monoclonal antibody, in adult celiac patients)
NIO -8.2% (prices offering of 88,500,000 American depositary shares at a price of $17.00 per ADS)
AVYA -4.8% (files for 22,123,022 share common stock offering by selling shareholder)
ABUS -4.3% (files for $200 mln mixed securities shelf offering)
MYOK -1.2% (presents results from Phase 3 EXPLORER-HCM clinical trial)Analyst comments:
BIGC -12.3% (initiated with an Underweight at Morgan Stanley; tgt $52)
NPTN -2.3% (downgraded to Hold from Buy at Needham)
MTN -0.6% (downgraded to Sector Weight from Overweight at KeyBanc Capital Markets)NVDA hosting a special broadcast on Tuesday at 12 Noon ET
NVDA is expected to announce its new GeForce RTX 3000.
INTC holding a launch for its Tiger Lake chip which will compete with AMD’s Ryzen 4000-series.
INTC above $50 ahead of the event. We will have to see if money floats out of AMD and back into INTC as a value play.
Note AMD for its part will be presenting at a Jefferies conference this week.
Recent IPOs Rackspace Technology (RXT), BigCommerce (BIGC), and Rocket Companies (RKT) received quite a few sell side initiations today following the lapse of their quiet periods.
On RXT, JP Morgan started at Overweight, tgt $28 noting The company is also differentiated vs. public peers by focusing on SMid cap clients (JPMe 70% of rev) and smaller Enterprise customers. They noted RXT is seeing solid improvement in bookings, driven by improved sales focus and culture put in place by new leadership installed in April 2019. Others that started coverage today included RBC, Deutsche Bank, Goldman, and BMO, among others.
On BIGC, Morgan Stanley launched coverage with an Underweight and $52 tgt; with strong secular positioning and a large $8B+ TAM, firm sees plenty of growth ahead. However, valuation is pricing in their case. Raymond James, Jefferies, and KeyBanc also initiated coverage.
On RKT, Goldman started at Neutral, $27 tgt; in 1H20 RKT took over as the industry leader in mortgage originations with 8.1% market share as it benefited from secular trends, including a move away from banks and a shift toward homebuyers engaging digitally, amongst other things. In addition, firm sees its share increasing as purchase becomes a bigger part of the story and it continues to build out the partner channel. However, with shares up over 50% since its IPO and now trading at >18x their 2022 estimate, firm views the risk reward as balanced at current levels. Others that started coverage included BofA Securities, Barclays, and Wells Fargo, among others.
[size=5][b][color=red]Dow 28,430.05 -223.82 -0.78%
S&P 500 3,500.31 -7.70 -0.22%[/color]
Nasdaq 11,775.46 79.82 0.68%
GlobalDow 3,094.39 -17.58 -0.56%
Gold 1,976.20 1.30 0.07%
Oil 42.82 -0.15 -0.35%[/b][/size]Great SUMMER finish for month of AUGUST
Gapping down
In reaction to strong earnings/guidance:SCSC -9.4%
Other news:ZSAN -14.1% (stock offering)
PRPL -3.6% (stock offering)
LINC -3.4% (files for $75 mln mixed securities shelf offering)
VNDA -2.9% (provides update on tradipitant development program)
VOD -1.7% (provides update on merger of Bharti Airtel)
CCL -1.5% (Seabourn unit announces additional voyage cancellations)
AFG -1.3% (new CFO)Analyst comments:
EAT -2.8% (downgraded to Mkt Perform from Outperform at Raymond James)
DRI -1.9% (downgraded to Outperform from Strong Buy at Raymond James)Gapping up
In reaction to earnings/guidance:ZM +30%, GRAF +5.2%, RXT +3.7%, COHU +2.2%
Other news:
KODK +46.1% (D.E. Shaw discloses 5.2% passive stake)
PRTH +35.9% (to acquire Priority’s RentPayment business; expected to close in the third quarter of 2020)
GOGO +24.1% (Intelsat to acquire Gogo’s Commercial Aviation Business for $400 mln in cash )
ATNX +23.2% (FDA has accepted for filing the Company’s NDA for oral paclitaxel and encequidar for the treatment of metastatic breast cancer and has granted the application Priority Review)
TTOO +14.1% (receives FDA Emergency Use Authorization for T2SARS-CoV-2 Panel)
WPRT +11.8% (awarded electronics supply contract from “tier one” automotive supplier)
MNOV +8.8% (provides update on development progress on intranasal formulation of SARS-CoV-2 vaccine for COVID-19)
FLR +3.3% (highlights US Nuclear Regulatory Commission design certification)
SVM +2.9% (reports 18% increase in silver resources at Ying property)
NVS +2.9% (reports it completed enrollment in the CAN-COVID Phase III clinical trial with expected readout in Q4)
WMT +2.7% (officially rolls out Walmart+)
LBRT +2.2% (Liberty Oilfield Services and Schlumberger (SLB) announce agreement for the contribution of Schlumberger’s onshore hydraulic fracturing business in US/Canada)
UBX +1.9% (new CFO)
GME +1.9% (RC Ventures increased active stake to 9.6%)
OESX +1.9% (provided additional detail regarding a turnkey LED lighting retrofit project for a new customer, a large specialty retailer)
CPG +1.7% (raises FY20 production guidance)Analyst comments:
NPTN +8.9% (upgraded to Buy from Neutral at B. Riley FBR)
BLMN +6.7% (upgraded to Strong Buy from Outperform at Raymond James)
GLOG +5.4% (upgraded to Buy from Hold at DNB Markets)
CMPI +3.9% (initiated with a Neutral at BofA Securities)
ZEN +3.8% (upgraded to Overweight from Neutral at Piper Sandler)
QCOM +2.4% (upgraded to Equal Weight from Underweight at Wells Fargo)
FRLN +2.4% (initiated with an Overweight at Morgan Stanley)
TGTX +2.4% (initiated with an Overweight at JP Morgan)US August final Markit manufacturing PMI 53.1 vs 53.6 Prelim Prior 50.9
August PMITM data from IHS Markit signalled a solid improvement in operating conditions across the U.S. manufacturing sector, with overall growth accelerating to the strongest since early2019. The upturn reflected faster increases in output and new orders, with firms also indicating a renewed rise in employment.
Moreover, companies registered the highest degree of confidence in the outlook for output over the coming year since April 2019 amid hopes of further growth of client demand.
Faster upturn in new orders as export growth hits four-year high
Quickest rise in employment since November 2019
Cost pressures strongest since early-2019
Chris Williamson, Chief Business Economist at IHS Markit said:
“The manufacturing upturn gained further ground in August, adding to indications that the third quarter should see a strong rebound in production from the steep decline suffered in the second quarter.
“Encouragingly, new order inflows improved markedly, outpacing production to leave many companies struggling to produce enough goods to meet demand, often due to a
lack of operating capacity. Backlogs of uncompleted work consequently rose at the fastest rate since the early months of 2019, encouraging increasing numbers of firms to take on more staff.“Key to the upturn was a jump in new export orders, which rose at the fastest rate for four years, reflecting improving demand in many foreign markets, and benefitting larger
companies in particular. Disappointingly, new orders and export sales at smaller manufacturers continued to fall, highlighting an unbalanced recovery in favour of larger firms.”[color=limegreen][size=6][b]Dow 28,645.66 215.61 0.76%
S&P 500 3,526.65 26.34 0.75%
Nasdaq 11,939.67 164.21 1.39%
GlobalDow 3,099.80 3.98 0.13%
Gold 1,976.20 -2.40 -0.12%
Oil 42.90 0.29 0.68% [/b][/size][/color]
[size=5][color=red][b]NANA & OMAR Tropical storms have formed :woohoo: :woohoo: :woohoo: :woohoo: :woohoo:
and the “P” storm is almost ready to exit Africa & form a few days later :ohmy:[/b][/color][/size]
Gapping down
In reaction to earnings/guidance:GSX -16.2% (also discloses SEC investigation) HOME -14.7%, SCVL -12.2%, JAMF -9.2%, ALVR -3.8%, HRB -2.3%
Other news:HLNE -4.2% (stock offering)
IMVT -3% (prices 5,270,093 shares of its common stock at $33.00/share)
BLDP -2.7% (establishes new cross-border $250 mln ATM Equity Program)
ICLK -2.6% (commences follow-on offering of up to 7,922,787 American depositary shares)
AIR -2.2% (signs new services agreement with Frontier Airlines)
HL -1.8% (increases dividend)
GOGO -1.8% (S&P CreditWatch revised to positive from negative)
NKLA -1.6% (WOR says in August its WI Ventures unit sold 6.5 mln shares of Nikola)Analyst comments:
DAO -2% (downgraded to Neutral from Outperform at Credit Suisse)
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