Traders Market Weekly: Thanksgiving, a Time for Reflection

Viewing 15 posts - 31 through 45 (of 71 total)
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    Netflix (NFLX 308.69, +9.42, +3.15%): BofA Securities upgraded to Buy from Underperform
    Harley-Davidson (HOG 47.18, -0.73, -1.52%): Jefferies initiated coverage with an Underperform
    Home Depot (HD 303.60, -3.32, -1.08%): beats by $0.12, beats on revs; reaffirms FY23 EPS guidance
    Walmart (WMT 147.76, +9.37, +6.77%): beats by $0.18, beats on revs; guides Q4 EPS in-line, revs slightly below consensus; Q3 comps +8.2% ahead of guidance; approved a new $20 bln share repurchase authorization
    Shoals Technologies (SHLS 27.44, +4.97, +22.12%): beats by $0.02, beats on revs; guides FY22 revs in-line
    Azenta (AZTA 61.54, +14.96, +32.12%): beats by $0.09, beats on revs; guides Q1 EPS in-line, revs above estimate; guides FY23 revs above consensus; authorizes $1.5 bln share repurchase program
    Energizer (ENR 32.01, +2.41, +8.14%): beats by $0.03, beats on revs; guides FY23 EPS in-line, revs in-line; Announces Project Momentum
    Taiwan Semiconductor Manufacturing (TSM 80.56, +7.76, +10.66%): Berkshire Hathaway (Warren Buffett) discloses updated portfolio positions in 13F filing


    S&P futures vs fair value: +41.80. Nasdaq futures vs fair value: +192.50.
    The S&P 500 futures are up 40 points and are trading 1.0% above fair value. The Nasdaq 100 futures are up 189 points and are trading 1.7% above fair value. The Dow Jones Industrial Average futures are up 196 points and are trading 0.6% above fair value.

    Producer Price Index rose 0.2% in October (consensus 0.5%) following a prior revised 0.2% increase in September (from 0.4%). The core Producer Price Index, which excludes food and energy, was flat in October ( consensus 0.4%) after the prior revised 0.2% increase in September (from 0.3%).

    The Empire State Manufacturing came in at 4.5 in November (consensus -5.0) following the prior -9.1 reading.



    Bonds Wrap: U.S. Treasuries ended Tuesday with solid gains across the curve, reclaiming the bulk of yesterday’s losses in most tenors.

    The U.S. Dollar Index fell to its lowest level since mid-August in early action, but eventually returned to its unchanged level at 106.66.

    2-yr: -6 bps to 4.35%
    3-yr: -8 bps to 4.16%
    5-yr: -8 bps to 3.92%
    10-yr: -7 bps to 3.80%
    30-yr: -8 bps to 3.98% Update


    Equity indices in the Asia-Pacific region ended the midweek session on a mostly lower note.

    —Equity Markets—

    Japan’s Nikkei: +0.1%
    Hong Kong’s Hang Seng: -0.5%
    China’s Shanghai Composite: -0.5%
    India’s Sensex: +0.2%
    South Korea’s Kospi: -0.1%
    Australia’s ASX All Ordinaries: -0.3%


    Property names in China gave back some of their recent gains after some announced equity raises and restructuring plans.
    In addition, house prices decreased for the sixth consecutive month in October.
    There was speculation that the People’s Bank of China will lower the loan prime rate.
    The U.S.-China Economic and Security Review Commission called on Congress to provide a report on China’s compliance with terms of an agreement from 1999 on market access.
    China’s October House Prices -1.6% yr/yr (last -1.5%)
    Japan’s September Core Machinery Orders -4.6% m/m (expected 0.7%; last -5.8%); 2.9% yr/yr (expected 7.4%; last 9.7%). September Tertiary Industry Activity Index -0.4% m/m (expected 0.6%; last 0.7%)
    Australia’s October MI Leading Index -0.1% m/m (last -0.1%). Q3 Wage Price Index 1.0% qtr/qtr (expected 0.9%; last 0.8%); 3.1% yr/yr (expected 3.0%; last 2.6%)


    Major European indices trade in the red.

    STOXX Europe 600: -0.8%
    Germany’s DAX: -0.8%
    U.K.’s FTSE 100: -0.1%
    France’s CAC 40: -0.3%
    Italy’s FTSE MIB: -0.3%
    Spain’s IBEX 35: -0.9%


    Polish officials said that preliminary findings do not suggest that yesterday’s missile accident was intentional, and it likely involved a Ukrainian air defense missile.
    The U.K.’s CPI accelerated to its highest level in 41 years in the October reading.
    The Autumn Budget Statement will be delivered tomorrow, and it is expected to call for tax hikes and spending cuts.
    U.K.’s October CPI 2.0% m/m (expected 1.7%; last 0.5%); 11.1% yr/yr (expected 10.7%; last 10.1%). October Core CPI 0.7% m/m (expected 0.6%; last 0.6%); 6.5% yr/yr (expected 6.4%; last 6.5%). October Input PPI 0.6% m/m (expected 0.3%; last 0.9%) and Output PPI 0.3% m/m (expected 0.5%; last 0.3%)
    Italy’s October CPI 3.4% m/m (expected 3.5%; last 0.3%); 11.8% yr/yr (expected 11.9%; last 8.9%)


    Target (TGT 154.52, -24.46, -13.67%): misses by $0.64, misses on revs; announced an enterprise initiative
    Lowe’s (LOW 213.84, +5.00, +2.39%): beats by $0.18, beats on revs; raises FY23 EPS above consensus, revs above consensus
    TJX (TJX 74.50, -0.62, -0.83%): beats by $0.06, misses on revs; guides FY23 EPS midpoint below consensus; Q3 comps -2%
    Intel (INTC 30.75, +0.04, +0.13%): will have to pay $949 mln following verdict in patent dispute, according to Reuters.
    NIKE (NKE 105.00, -1.71, -1.60%): increases its quarterly dividend 11% to $0.34/share
    Qualcomm (QCOM 126.26, +0.24, +0.19%): Credit Suisse initiated coverage with an Outperform
    Restaurant Brands Int’l (QSR 61.50, +1.76, +2.95%): appoints Patrick Doyle as Executive Chairman
    Advance Auto (AAP 156.01, -27.93, -15.18%): misses by $0.50, reports revs in-line, comps -0.7%; guides FY22 EPS below consensus, reaffirms FY22 revs guidance
    Carnival (CCL 9.78, -1.38, -12.37%): commences a private offering of $1 bln of convertible notes to be used as part of the co’s 2024 refinancing plan; prices offering of $1 bln of its 5.75% convertible senior notes due 2027


    Equity futures extended their losses after the October retail sales report.

    Total retail sales jumped 1.3% month-over-month in October (consensus +0.9%) following an unrevised unchanged reading for September. Excluding autos, retail sales also rose 1.3% month-over-month ( consensus +0.6%) following an unrevised 0.1% increase for September.

    The key takeaway from the report is that retail sales, which are not adjusted for inflation, were still fairly solid in October, underscoring that consumer spending continues to hold up fairly well, supported by continued low levels of unemployment.

    The S&P 500 futures are down 14 points and are trading 0.4% below fair value.
    The Nasdaq 100 futures are down 64 points and are trading 0.5% below fair value.
    The Dow Jones Industrial Average futures are down 47 points and are trading 0.2% below fair value.


    Dow 33,553.83 -39.09 -0.12%
    S&P 500 3,958.79 -32.94 -0.83%
    Nasdaq 11,183.66 -174.75 -1.54%
    VIX 24.19 -0.35 -1.43%
    Gold 1,777.20 0.40 0.02%
    Oil 85.29 -1.63 -1.88%



    Ormat Tech commences secondary offering of 3.5 mln shares of common stock on behalf of ORIX Corporation
    $ORA down 5.7% After Hours


    KKR (KKR) will lead a US$68 mln Series B funding round in Advanced Navigation, a developer of AI robotics and navigation technology… KKR up 3.2%


    dLocal Limited (DLO) comments on short seller report; says report contains “numerous inaccurate statements, groundless claims, and speculation”…
    DLO up 3.7%

Viewing 15 posts - 31 through 45 (of 71 total)
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