- 18 Jul '23 at 7:29 am #62381
Japan’s May Tertiary Industry Activity Index 1.2% m/m (expected 0.4%; last 0.9%)
Hong Kong’s June Unemployment Rate 2.9% (expected 3.1%; last 3.0%)18 Jul '23 at 7:30 am #62382
Australia’s Treasurer Chalmers said that the next CPI report should show that inflation is moderating.18 Jul '23 at 7:30 am #62383
Major European indices trade near their flat lines amid a dearth of economic data.
STOXX Europe 600: +0.2%
Germany’s DAX: -0.1%
U.K.’s FTSE 100: +0.1%
France’s CAC 40: UNCH
Italy’s FTSE MIB: UNCH
Spain’s IBEX 35: -0.5%18 Jul '23 at 7:30 am #62384
European Central Bank policymaker Knot echoed the view that the likelihood for rate hikes after the July meeting will depend on data while policymaker Visco said that while overall inflation is coming down, underlying inflation remains stubborn.18 Jul '23 at 7:31 am #62385
British food retailer Ocado reaffirmed its guidance for FY23 and said that peak food inflation is in the rear-view mirror.18 Jul '23 at 7:31 am #62386
Bank of America (BAC 29.56, +0.16, +0.5%): beats by $0.04, reports revs in-line
Morgan Stanley (MS 86.23, -0.14, -0.2%): beats by $0.04, beats on revs
PNC (PNC 123.64, -3.52, -2.8%): beats by $0.07, misses on revs; guides Q3 revs below consensus; lowers FY23 revs below consensus; raises dividend 5% to $1.55/share
BNY Mellon (BK 43.18, -0.36, -0.8%): beats by $0.08, beats on revs18 Jul '23 at 7:32 am #62387
American Express (AXP 175.50, +0.11, +0.1%): named a top pick at Morgan Stanley and has an Overweight rating in front of its earnings report later this week
Pinterest (PINS 30.12, +0.97, +3.3%): upgraded to Outperform from In Line at Evercore ISI
UnitedHealth (UNH 486.81, +2.73, +0.6%): upgraded to Outperform from Market Perform at Bernstein
Norwegian Cruise Line (NCLH 20.40, -0.36, -1.7%): downgraded to Hold from Buy at Truist18 Jul '23 at 7:32 am #62388
Chipotle Mexican Grill (CMG 2154.98, +27.47, +1.3%): confirms first restaurant in the Middle East in partnership with Alshaya Group18 Jul '23 at 7:33 am #62389
Lockheed Martin (LMT 474.59, +4.64, +1.0%): beats by $0.18, beats on revs; raises FY23 EPS in-line, revs above consensus
Lockheed Martin, the biggest U.S. defense contractor said sales rose 8.1% from a year earlier to $16.69 billion in the three-month period ended June 25. The consensus estimate was for $15.89 billion in sales.
Net earnings were $1.7 billion, or $6.63 a share, compared with $309 million, or $1.16 a share, a year earlier.
Earnings adjusted for one-time items such as investments that lost value were $6.73 a share, beating the consensus estimate of $6.45 a share.
“Orders highlights included F-35 Lot 17 and significant awards to ramp-up PAC-3, GMLRS, and other major programs, positioning us well for the future,” Jim Taiclet, chairman and CEO of Lockheed Martin, said in a statement. “We continued our dynamic and disciplined capital allocation in the quarter, with nearly two times free cash flow returned to shareholders.”
The company raised its full-year sales guidance to a range of $66.2 billion to $66.75 billion from a prior range of $65 billion to $66 billion in April.
Lockheed Martin (LMT) also lifted its full-year EPS guidance to a range of $27 to $27.20 from $26.60 to $26.90 previously.18 Jul '23 at 7:34 am #62390
Nvidia nears deal for stake in Lambda Labs
Nvidia Lambda Labs deal may include $300 million in new capital and may value Lambda Labs at more than $1 billion, The Information reported, citing people familiar with the matter. A potential deal comes after Nvidia (NVDA) took a similar stake in Lambda’s rival CoreWeave.
Lambda Labs is a startup that competes with Amazon Web Services (AMZN) and other cloud providers in renting servers with Nvidia (NVDA) chips to companies, according to the report.
Last month, CNBC reported that Microsoft (MSFT) has an agreement with start-up CoreWeave that could see it spend potentially billions of dollars with the smaller18 Jul '23 at 2:46 pm #62422CautiousInvestorKeymaster
Dow 34,951.93 366.58 1.06%
S&P 500 4,554.98 32.19 0.71%
Nasdaq 14,353.64 108.69 0.76%
VIX 13.30 -0.18 -1.34%
Gold 1,982.30 25.90 1.32%
Oil 75.59 1.44 1.94%18 Jul '23 at 6:45 pm #62423
AR Corp (AIR) beats by $0.05, beats on revs… AIR up 3.6%
Fulton Fincl (FULT) beats by $0.05, net interest margin decreased 13 bps from Q1… FULT up 0.7%
Hancock Whitney (HWC) beats by $0.01, misses on revs… HWC down 1.0%
Interactive Brokers (IBKR) misses by $0.08, misses on revs… IBKR down 3.3%
J.B. Hunt Transport (JBHT) misses by $0.09, misses on revs… JBHT down 1.2%
Omnicom (OMC) beats by $0.01, misses on revs… OMC down 5.7%
United Comm Banks (UCBI) misses by $0.08, customer deposits up 2.3% on annualized basis… UCBI down 1.3%
Western Alliance Bancorp (WAL) misses by $0.01, beats on revs… WAL down 2.7%18 Jul '23 at 6:45 pm #62424
Carvana (CVNA) -11% moving lower after hours after changing Q2 reporting date to July 19 pre-mkt from Aug 3… CVNA down 11%18 Jul '23 at 6:45 pm #62425
GitLab (GTLB) reiterates Q2 and FY24 guidance; announces appointment of Chris Weber as Chief Revenue Officer… GTLB down 2.8%18 Jul '23 at 6:46 pm #62426
HighPeak Energy (HPK) commences public offering of common stock… HPK down 8.6%
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