- This topic has 66 replies, 4 voices, and was last updated 3 months, 2 weeks ago by CautiousInvestor.
- 07 Feb '23 at 9:19 am #53005
S&P 500 futures are down 5 points and are trading roughly in line with fair value.
Nasdaq 100 futures are up 9 points and are trading 0.1% above fair value.
The Dow Jones Industrial Average futures are down 96 points and are trading 0.3% below fair value.
Treasury yields are inching higher.
The 2-yr note yield is down one basis point to 4.45% and the 10-yr note yield is up two basis points to 3.65%.07 Feb '23 at 9:20 am #53006
December trade deficit widened to $67.4 billion (consensus -$68.5 billion) from an upwardly revised $61.0 billion (from -$61.5 billion) in November with exports $2.2 billion less than November exports and imports $4.2 billion more than November imports.
The key takeaway from the report is that it reflected a slowdown in global trade, evidenced by a $2.1 billion decline in the three-month moving average for the goods and services deficit to $68.6 billion that resulted from a $2.6 billion decrease in average exports and a $4.7 billion decrease in average imports.07 Feb '23 at 9:20 am #53007
Energy complex futures are moving higher.
WTI crude oil futures are up 1.3% to $75.10/bbl and natural gas futures are up 1.7% to $2.50/mmbtu.07 Feb '23 at 9:52 am #53013
Ahead: US President Biden’s #StateOfTheUnionAddress due Tuesday 07 February 2023 9pm ET
Topics: #China #Ukraine #jobs #Infrastructure #Guns #inflation
Following Biden, a reply speech from Republican Arkansas Governor Sarah Huckabee Sanders07 Feb '23 at 3:26 pm #53041CautiousInvestorKeymaster
Dow 34,156.69 265.67 0.78%
S&P 500 4,164.00 52.92 1.29%
Nasdaq 12,113.79 226.34 1.90%
VIX 18.63 -0.80 -4.12%
Gold 1,883.00 3.50 0.19%
Oil 77.30 3.19 4.30%
07 Feb '23 at 5:04 pm #53058
- This reply was modified 3 months, 3 weeks ago by CautiousInvestor.
New Relic earnings beat by $0.17, beats on revs;
Guides Q4 EPS above consensus, revs above consensus.
$NEWR up 12.2%
Announces that betting and gaming co’y
@WilliamHill is standardizing on New Relic to advance its observability strategy.
Every day, William Hill publishes 5.1 million price changes, where everything is updated in real-time.
Founded in the UK in 1934, William Hill is one of the world’s leading betting and gaming companies and one of the most trusted brands in the industry. In 2019, the business took some 5.2 million online transactions every day. That’s 74% more than Amazon UK on its highest-ever trading day and three-and-a-half times more than the highest ever FTSE trading day.
The bookmaker is undergoing a profound digital transformation toward becoming a scalable, digitally-led global business. Three years ago there was a major shift to DevOps to drive the speed and innovation that the competitive market requires. And with hundreds of releases to production happening every day, DevOps is critical.vWilliam Hill is also busy migrating to Amazon Web Services (AWS), using Terraform and Lambda for further business agility and scalability.
“We have a data center burndown strategy to evacuate our data centers by a certain time and migrate to the cloud. It was all about rapid speed of agility, adoption, capacity-on-demand,” says Andrew Longmuir, Engineering Manager Observability, Automation & AIOps at William Hill. “We also made it a lot more agile to deploy our products and apps and pipelines. We did a lot of work around CI/CD pipelines to enable that as well. For businesses like ours, it was key we did that. It’s all about first-to-market.”
While William Hill is clearly a top player in the bookmaker market, issues can occur rapidly in its stack, given its real-time nature and complexity. Having an observability strategy in place is critical to the business model. The company needed to consolidate monitoring tools into a self-service observability platform that would enable teams to be self-sufficient in building and supporting systems and fix issues quickly whenever they occurred.
New Relic provided a technology that was a perfect fit with William Hill’s modern cloud architecture. The necessary real-time insights allowed the company to make more perfect customer experiences and save money by the minute.07 Feb '23 at 5:04 pm #53059
Chipotle Mexican Grill (CMG) misses by $0.60, misses on revs; Q4 comps +5.6% vs guidance of mid to high-single digits; guides Q1 comps in high-single-digits… CMG down 4.1%
Enphase Energy (ENPH) beats by $0.25, beats on revs; guides Q1 revs in-line… ENPH up 8.8%
Fortinet (FTNT) beats by $0.05, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY23 EPS in-line, revs above consensus… FTNT up 13.4%
Illumina (ILMN) misses by $0.08, beats on revs; guides FY23 EPS in-line, revs in-line… ILMN down 1.7%
Lumen Technologies (LUMN) beats by $0.20, reports revs in-line… LUMN down 14.9%
Paycom Software (PAYC) beats by $0.24, beats on revs; guides Q1 revs above consensus; guides FY23 revs above consensus… PAYC down 3.4%
Prudential (PRU) misses by $0.09, authorizes repurchase of up to $1.0 billion of outstanding common stock… PRU down 3.2%
V.F. Corp (VFC) beats by $0.13, beats on revs; guides FY23 EPS in-line; expects low-single-digit percentage sales growth yr/yr in FY24… VFC up 4.3%
Western Union (WU) misses by $0.03, beats on revs; reaffirms FY23 EPS guidance… WU up 0.1%
Yum China (YUMC) reports EPS in-line, misses on revs; SSS -4% yr/yr, increases dividend… YUMC down 0.8%08 Feb '23 at 8:14 am #53091
Equity indices in the Asia-Pacific region ended the midweek session on a mixed note.
Japan’s Nikkei: -0.3%,
Hong Kong’s Hang Seng: -0.1%,
China’s Shanghai Composite: -0.5%,
India’s Sensex: +0.6%,
South Korea’s Kospi: +1.3%,
Australia’s ASX All Ordinaries: +0.4%.08 Feb '23 at 8:14 am #53092
Japan’s January Bank Lending 3.1% yr/yr (expected 2.5%; last 2.7%) and January Economy Watchers Current Index 48.5 (expected 48.4; last 48.7)
South Korea’s December Current Account surplus $2.68 bln (last deficit of $220 mln)
Japan will reportedly end coronavirus tests for visitors from China.
Japan’s Prime Minister Kishida said that the next Bank of Japan governor will have to closely coordinate with other central banks. Nominees will reportedly be presented to parliament next week.
Expectations for the terminal official cash rate from the Reserve Bank of Australia have increased to 3.85% from 3.60%.
The Reserve Bank of India raised its policy rate by 25 bps to 6.50%, as expected.08 Feb '23 at 8:15 am #53093
Major European indices trade in the green.
STOXX Europe 600: +0.8%,
Germany’s DAX: +0.7%,
U.K.’s FTSE 100: +0.7%,
France’s CAC 40: +0.4%,
Italy’s FTSE MIB: +0.7%,
Spain’s IBEX 35: +0.8%.08 Feb '23 at 8:15 am #53094
France’s Q4 nonfarm payrolls 0.0% qtr/qtr (expected 0.2%; last 0.4%)
Italy’s December Retail Sales -0.2% m/m (expected -0.8%; last 0.8%); 3.4% yr/yr (last 4.4%)
European Central Bank policymaker Schnabel said that inflation momentum remains elevated and repeated that the ECB expects to hike by 50 bps in March.
The U.K.’s National Institute of Economic and Social Research expects that inflation in the U.K. will remain above 3.0% until the end of 2024.
Volkswagen reported sales and earnings growth for 2022.08 Feb '23 at 8:16 am #53095
Uber (UBER 37.63, +2.73, +7.8%): beats by $0.27, beats on revs
Fortinet (FTNT 59.35, +5.57, +10.4%): beats by $0.05, reports revs in-line; guides Q1 EPS in-line, revs in-line; guides FY23 EPS in-line, revs above consensus
Lumen Technologies (LUMN 4.1800, -0.81, -16.2%): beats by $0.20, reports revs in-line; disappoints with FY23 free cash flow guidance of $0-200 million
Enphase Energy (ENPH 248.48, +20.02, +8.8%): beats by $0.25, beats on revs; guides Q1 revs in-line
Chipotle Mexican Grill (CMG 1642.50, -80.36, -4.7%): misses by $0.60, misses on revs; Q4 comps +5.6% vs guidance of mid to high-single digits; guides Q1 comps in high-single-digits
New Relic (NEWR 76.84, +12.26, +19.0%): beats by $0.17, beats on revs; guides Q4 EPS above consensus, revs above consensus
Under Armour (UAA 13.16, +0.94, +7.7%): beats by $0.07, beats on revs; raises FY23 EPS guidance, reaffirms revenue growth guidance of a low single-digit percentage rate increase on a reported basis
Activision Blizzard (ATVI 72.00, -3.60, -4.8%): UK CMA says Microsoft (MSFT) deal for ATVI could harm gamers
Capri Holdings (CPRI 53.50, -12.86, -19.4%): misses by $0.40, misses on revs; guides Q4 EPS below consensus, revs below consensus; guides FY24 EPS below consensus, revs below consensus08 Feb '23 at 8:16 am #53096
CVS Health (CVS 87.48, +1.50, +1.8%): beats by $0.06, beats on revs; reaffirms FY23 EPS guidance
Oak Street Health (OSH 34.85, +1.17, +3.5%): CVS Health to acquire Oak Street Health (OSH) for $39/share in cash, for enterprise value of $10.6 bln08 Feb '23 at 8:17 am #53097
Manchester United (MANU 24.67, +3.55, +16.8%): higher on report Qatari investors will bid for MANU within days, according to DailyMailUK08 Feb '23 at 8:17 am #53098
The S&P 500 futures are down 18 points and are trading 0.4% below fair value.
The Nasdaq 100 futures are down 45 points and are trading 0.3% below fair value.
The Dow Jones Industrial Average futures are down 139 points and are trading 0.3% below fair value.
The 2-yr Treasury note yield is unchanged at 4.46% and the 10-yr note yield is down one basis point to 3.66%.
The U.S. Dollar Index is down 0.1% to 103.34.
Energy complex futures trade in mixed fashion.
WTI crude oil futures are up 1.0% to $77.95/bbl and natural gas futures are down 3.2% to $2.50/mmbtu.
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