Traders Market Weekly: Debt Ceilings and The Consumer

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    NY Times (NYT 40.19, +0.29, +0.7%) will get $100 mln from Google (GOOG) over three year period for content sharing, according to WSJ


    Tempur Sealy Int’l (TPX 36.53, -1.09, -2.9%): beats by $0.02, reports revs in-line; reaffirms FY23 EPS guidance; to acquire Mattress Firm in cash and stock deal valued at approx. $4.0 bln; deal expected to be accretive, expected to close in 2H24


    Under Armour (UAA 8.18, -0.47, -5.4%): beats by $0.03, beats on revs; guides FY24 EPS below consensus

    Western Digital (WDC 34.99, +0.81, +2.4%): beats by $0.19, beats on revs; guides JunQ EPS below consensus, revs below consensus


    Treasury yields are little changed from yesterday’s settlement levels.

    The 2-yr note yield is unchanged at 3.99% and the 10-yr note yield is down three basis points to 3.49%.

    The U.S. Dollar Index is up 0.3% to 101.66.

    Energy complex futures are giving back some of yesterday’s gains.

    WTI crude oil futures are down 1.1% to $72.31/bbl and natural gas futures are down 0.8% to $2.40/mmbtu.


    There is always a winner in the carnage …. Apollo generated a record $397mn in fee-related earnings, drew in $57bn in new assets during Q1, including $37bn from #CreditSuisse securitized products unit deal.

    Higher interest rates boosted the spread that Apollo earns on the premiums it invests for policyholders of its Athene annuities unit. The vast majority of Apollo’s $598bn in assets are now insurance assets.

    Its adjusted net income rose 18 per cent to $942mn.

    $APO 60.30 -1.53 (-2.47%) Pre-Market


    Dow 33,561.81 -56.88 -0.17%
    S&P 500 4,119.17 -18.95 -0.46%
    Nasdaq 12,179.55 -77.36 -0.63%
    VIX 17.71 0.73 4.30%
    Gold 2,042.10 8.90 0.44%
    Oil 73.51 0.35 0.48


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

    Japan’s Nikkei: -0.4%,
    Hong Kong’s Hang Seng: -0.5%,
    China’s Shanghai Composite: -1.2%,
    India’s Sensex: +0.3%,
    South Korea’s Kospi: -0.5%,
    Australia’s ASX All Ordinaries: -0.1%.


    Japan’s March Leading Index -0.7% m/m (last 1.4%) and Coincident Indicator 0.0% m/m (last 2.5%)

    Bank of Japan Governor Ueda repeated that ETF purchases are part of large-scale easing and that there are no current problems with these purchases.


    South Korea’s March Current Account surplus $270 mln (expected deficit of -$800 mln; last deficit of $520 mln). April Unemployment Rate 2.6%, as expected (last 2.7%)

    There are growing expectations that the State Bank of Vietnam will continue cutting rates.


    Australia’s Treasury is maintaining its FY22/23 growth forecast at 3.25% while the inflation forecast was lowered to 3.25 from 3.75%.


    Major European indices trade a bit below their flat lines while Spain’s IBEX (+0.1%) outperforms.

    STOXX Europe 600: -0.2%,
    Germany’s DAX: -0.2%,
    U.K.’s FTSE 100: -0.1%,
    France’s CAC 40: -0.2%,
    Italy’s FTSE MIB: -0.3%,
    Spain’s IBEX 35: +0.1%.


    Germany’s April CPI 0.4% m/m, as expected (last 0.8%); 7.2% yr/yr, as expected (last 7.4%)

    Italy’s March Industrial Production -0.6% m/m (expected 0.3%; last -0.2%); -3.2% yr/yr (expected -1.7%; last -2.3%)

    Credit Agricole reported better than expected results for Q1.


    European Central Bank President Lagarde said in an interview with Nikkei that there is more ground to cover in the central bank’s fight against inflation while policymaker Schnabel also said that more has to be done to slow inflation.


    Airbnb (ABNB 109.71, -17.36, -13.7%): beats by $0.08, beats on revs; guides Q2 revs in-line, Nights and Experiences booked growth to be lower than sales growth; reiterates FY23 adjusted EBITDA margins in-line with FY22
    Upstart (UPST 19.12, +5.03, +35.7%): misses by $0.77, beats on revs; guides Q2 EPS above consensus, revs above consensus
    RingCentral (RNG 28.28, +1.78, +6.7%): beats by $0.07, beats on revs; guides Q2 EPS above consensus, revs in-line; raises FY23 EPS above consensus, revs in-line
    Rivian Automotive (RIVN 14.78, +0.92, +6.6%): beats by $0.33, reports revs in-line; reaffirms FY23 production guidance
    Twilio (TWLO 46.78, -9.22, -16.5%): beats by $0.26, reports revs in-line; guides Q2 EPS in-line, revs below consensus
    Wynn Resorts (WYNN 122.45, +0.75, +0.7%): beats by $0.29, beats on revs; reinstates dividend
    Akamai Tech (AKAM 83.05, +4.17, +5.3%): beats by $0.08, reports revs in-line; guides Q2 EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus; provides upside Q2/FY 23 guidance, announces 3% workforce reduction in Q2
    Electronic Arts (EA 128.50, +3.09, +2.5%): misses by $0.46, beats on revs; guides Q1 EPS below consensus, revs in-line; guides FY24 EPS in-line, revs in-line
    Affirm (AFRM 11.56, -0.77, -6.3%): beats by $0.15, beats on revs; guides Q4 revs in-line; guides FY23 revs above consensus
    Dutch Bros (BROS 30.19, -2.26, -7.0%): beats by $0.01, misses on revs; reaffirms FY23 guidance


    The weekly MBA Mortgage Applications Index rose 6.3% with refinancing applications jumping 10% and purchase applications rising 5%.

Viewing 15 posts - 31 through 45 (of 85 total)
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