Traders Market Weekly: Reasoning Inflation and Market Authenticity

Viewing 15 posts - 106 through 120 (of 142 total)
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    Productivity rose 3.7% in the preliminary Q2 reading (consensus 1.7%) following a 2.1% decline in the prior reading.
    Unit labor costs rose 1.6% in the preliminary Q2 reading ( consensus 2.7%) following a 4.2% increase in the prior reading.

    Weekly initial jobless claims totaled 227,000 (consensus 225,000) following last week’s count of 221,000.
    Continuing claims came in at 1.7 million following last week’s revised total of 1.679 million (from 1.690 million).

    The key takeaway from the report is that the pickup in productivity and the deceleration in unit labor costs is a good combination for the soft-landing view.

    Treasury yields turned higher in response.

    The 10-yr note yield is up 10 basis points to 4.17% and the 2-yr note yield is up three basis points to 4.92%.


    The ISM Non-Manufacturing Index for July checked in at 52.7% (consensus 53.0%) versus 53.9% in June. The dividing line between expansion and contraction is 50.0%. The deceleration in July suggests activity in the services sector lost some steam versus the prior month.

    The key takeaway from the report is that services sector activity continued to expand in July, but at a slower pace than the prior month. Even so, the report said that the majority of respondents remain cautiously optimistic about business conditions and the economy.


    A soft landing in markets today
    And TEXAS “boogie-woogie” hits from 1973 by FAV group 🙂

    Dow 35,215.89 -66.63 -0.19%
    S&P 500 4,501.89 -11.50 -0.25%
    Nasdaq 13,959.72 -13.73 -0.10%
    VIX 16.41 0.32 1.99%
    Gold 1,969.70 -5.30 -0.27%
    Oil 81.78 2.29 2.88%


    Cirrus Logic beats by $0.26, beats on revs;
    Guides Q2 revs mostly above consensus.
    $CRUS up 5.1%


    Tupperware $TUP 5.3200 +1.80 (+51.14%) AH
    Files to delay 10-Q;
    Finalized agreement with lenders to restructure existing debt obligations, improving overall financial position by amending credit obligations & extending maturity of debt facilities to allow turnaround efforts.


    Cloudflare up 5% After Earnings
    Beats by $0.03, reports revs in-line;
    Guides Q3 EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus
    $NET up 5.7%


    Australia’s Atlassian soars 21% after earnings
    Beats by $0.13, beats on revs;
    Guides Q1 revs in-line.
    $TEAM up 21.4%


    Denbury Q2 Earnings
    (Follows recent Acquisition by Exxon $XOM)
    Adj EPS $1.06 misses by $0.25,
    Revenue of $328.98M (-31.8% Y/Y) misses by $11.46M.
    Added four dedicated CO2 sequestration sites to Company’s portfolio
    $DEN 86.86 -1.21 (-1.37%) AH


    Southwestern Energy Q2 Earnings
    Adj EPS $0.09 beats by $0.03,
    Rev $1.27B misses by $130M
    Net production 423 Bcfe, or 4.6 Bcfed, incl 4.0 Bcf per day of gas and 106 MBbls per day of liquids
    $SWN $6.52 +0.03 (+0.46%) AH


    Gilead Sciences Q2 23 Earnings:
    Adj EPS $1.34 (Est $1.64)
    Rev $6.60B (Est $6.44B)
    FY Adj EPS $6.45 To $6.80 from $6.60 To $7
    FY Product Sales $26.3B To $26.7B from $26B To $26.5B
    $GILD 76.05 +0.52 (+0.69%) after hours


    Apple Reports FQ3 23 Earnings
    Muted reaction so far
    EPS $1.26 v $1.19e,
    Rev $81.8B v $81.4Be

    iPhone Rev $39.7B v $40.2Be (-2.5 Y/Y %);
    Mac: $6.84B (-7.3 Y/Y %);
    iPad: $5.79B (-19.8 Y/Y %);
    Wearables, Home and Accessories: $8.28B (+2.5 Y/Y%);
    Service: $21.21B (+8.2 Y/Y %)

    Apple CEO Cook:

    $AAPL Been Researching Generative Artificial Intelligence for Years – Interview
    – Work On Generative #AI Is Among Drivers of Increased Research & Development Spending
    – Continuing To Invest in Technologies Such As #GenerativeAI To Improve Its Products

    $AAPL 191.10 -0.07 (-0.04%) after hours


    People love a punt…

    Draft Kings Up 8% After Q2 Earnings
    Adj EPS $0.14 beats by $0.28
    Rev $875M beats by $112.16M
    MUPs increased to 2.1 million ave monthly unique paying customers increase of 44% compared to Q222
    Raising FY23 revenue guidance
    $DKNG $32.50 +2.51 (+8.37%) AH


    Fortinet down 15% after Q2
    adj EPS $0.38 beats by $0.04.
    Revenue $1.29B (+25.2% Y/Y) MISSES by $10M
    LOWERED full-year sales guidance to range of $5.35B to $5.45B, down from $5.43B to $5.49B.
    $FTNT $64.53 -11.23 (-14.82%) AH


    EOG Resources Q2 Earnings
    Non-GAAP EPS of $2.49 beats by $0.16,
    Revenue $5.57B beats by $260M
    Generated $1.0 billion of free cash flow
    Oil, NGL, and natural gas production above guidance midpoints
    $EOG Closed 131.69+1.65 (+1.27%) no trades seen AH


    Airbnb Q2 23 Earnings:
    EPS 98C V 56C Y/Y
    Rev $2.48B (Est $2.42B)
    Adj. EBITDA $819M (Est $725.7M)
    Gross Booking Value $19.1B (est $18.8B)
    Sees 3Q Rev. $3.3B To $3.4B (est $3.22B)
    $ABNB 142.58 +1.70 (+1.21%) after hours

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