Traders Market Weekly: Geopolitics, ECB and Apple

Viewing 15 posts - 31 through 45 (of 58 total)
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  • #42809
    Truman
    Participant

    Bed Bath & Beyond (BBBY 9.19 -2.92 -24.11%): files common stock offering for an undisclosed amount; sees Q2 revs below consensus; provides outlook and update on strategic changes to strengthen its financial positioning and drive growth
    HP Inc. (HPQ 28.98, -2.12, -6.82%): beats by $0.01, misses on revs; guides OctQ EPS below consensus
    Chewy (CHWY 33.14, -4.25, -11.37%): beats by $0.16, reports revs in-line, guides Q3 and FY22 revenue below consensus
    Ambarella (AMBA 77.60, -6.90, -8.17%): beats by $0.01, reports revs in-line; guides Q3 revs in-line
    PVH Inc. (PVH 58.69, -4.15, -6.60%): beats by $0.06, misses on revs; guides Q3 EPS below consensus, revs below consensus; guides FY23 EPS below consensus, revs below consensus; announces that Trish Donnelly, head of PVH Americas & Calvin Klein Global, will be leaving; plans to reduce people costs in its global offices by approximately 10%
    CrowdStrike (CRWD 193.72, +0.43, +0.22%): beats by $0.09, beats on revs; guides OctQ EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus
    Snap (SNAP 9.27, -0.74, -7.39%): top ad executive Jeremi Gorman vice president of sales for the Americas, Peter Naylor, are leaving to join Netflix; to layoff ~20% of employees, according to The Verge
    PayPal (PYPL 94.10, +2.30, +2.51%): upgraded to Buy from Neutral at BofA Securities

    #42818

    ^^^^ +1s for several excellent posts (a good past POTUS who helped lead us in difficult times)
    Ohhh the humanity – as Bed Bath & beyond is down 20% with 115 stores closing
    OIL has fallen some in the “LITE” recession – as DEMAND is down due to inflation
    BITCOIN “kryto” has just crossed back to 20,000 (as in kryptonite – lol)

    #42821

    After a quiet AUGUST with ZERO storms, 3 may soon form in early SEPT (rare for AUG)
    all 3 have 50% or more chance of strengthening as “Bonnie & Clyde” were our last in early summer (lol)
    We’ve already seen three named storms this season: Alex, Bonnie and Colin. The next three named storms would be Danielle, Earl and Fiona.

    #42829
    TradersCom
    Keymaster

    C3.ai (AI) beats by $0.12, misses on revs; guides OctQ and FY23 revs below consensus, says its customers are scrutinizing big deals as never before… AI down 14.9%
    Costco (COST) reports August comparable sales, excluding the impacts from changes in gasoline prices and foreign exchange, increased by 8.7%… COST up 0.3%
    Five Below (FIVE) misses by $0.04, misses on revs; comps -5.8%; guides Q3 EPS and revs below consensus; guides FY23 EPS and revs below consensus… FIVE up 4.8%
    MongoDB (MDB) beats by $0.05, beats on revs; guides Q3 EPS below consensus, revs above consensus; guides FY23 EPS below consensus, revs above consensus… MDB down 8.9%
    Netflix (NFLX) higher on report it is looking to charge brands premium prices to advertise on its upcoming ad-supported platform, according to WSJ… NFLX up 0.5%
    Nutanix (NTNX) misses by $0.08, beats on revs; guides Q1 revs above consensus; guides FY23 revs above consensus… NTNX up 21.1%
    Okta (OKTA) beats by $0.20, beats on revs; guides Q3 (Oct) EPS above consensus, revs in-line; guides FY23 EPS above consensus, revs in-line… OKTA down 11.4%
    Scotts Miracle-Gro (SMG) announces that CFO is departing, lowers 2022 free cash flow guidance, reaffirms all other aspects of prior guidance… SMG down 0.9%
    Veeva Systems (VEEV) beats by $0.02, reports revs in-line; guides Q3 EPS in-line, revs below consensus; guides FY23 EPS above consensus, revs below consensus… VEEV down 11.2%
    Walt Disney (DIS) may offer membership program similar to Prime for park discounts or perks, according to Wall Street Journal… DIS up 1.0%

    #42837
    TradersCom
    Keymaster

    The month is closing down for all the major indices, and the major indices are also closing down for the 4th consecutive day.

    Dow industrial average -279.8 points or -0.828% at 31511.08
    S&P index -31.13 points at -0.78% at 3955.02
    NASDAQ index -66.92 points at -0.56% at 11816.21
    Russell 2000-11.480 points or -0.62% at 1844.11

    For the calendar month

    Dow industrial average fell -4.07%
    S&P fell -4.,26%
    Nasdaq fell -4.64%
    Russell 2000 fell -2.24%

    Today communication services was the only sector that moved higher and that was by the smallest of margins (+0.01%).
    The biggest decliner was materials which fell -1.21%. Consumer discretionary fell -1.06% and Energy fell -0.94%

    Ten of the 11 S&P 500 sectors closed in the red while communication services was flat. Meta Platforms (META 162.93, +5.77, +3.7%) boosted sector performance, partly fueled by Snap’s (SNAP 10.88, +0.87, +8.7%) better than expected revenue guidance while also benefiting from some month-end buying interest in a beaten-up mega-cap stock.

    The information technology sector closed near the bottom of the pack after heavy selling in HP Inc (HPQ 28.71, -2.39, -7.7%) and Seagate Technology (STX 66.96, -2.46, -3.5%). The former issued disappointing EPS guidance with its earnings report while the latter lowered prior Q1 EPS guidance.

    Only two S&P 500 sector managed to hold onto gains for the month, utilities with a 0.1% gain and energy with a 2.2% gain.

    Separately, energy complex futures settled mixed. WTI crude oil futures fell 2.4% to $89.41/bbl while natural gas futures rose 0.9% to $9.14/mmbtu.

    The Treasury market was mixed with the 2-yr note yield falling two basis points to 3.44% while the 10-yr note yield rose two basis points to 3.13%. Treasury yields rose sharply on the month with the 2-yr note yield climbing 54 basis points while the 10-yr note yield rose 49 basis points.

    #42845

    After an almost record setting # of weeks without a TD forming, TD#5 just formed in north Atlantic
    And projected so far to become HURRICANE DANIELLE but only impact shipping lanes.
    SEP-OCT is actually when hurricane peak & watch those waves coming off Africa + warm waters of GULF

    #42848
    Truman
    Participant

    Equity indices in the Asia-Pacific region ended Thursday on a lower note.

    —Equity Markets—

    Japan’s Nikkei: -1.5%
    Hong Kong’s Hang Seng: -1.8%
    China’s Shanghai Composite: -0.5%
    India’s Sensex: -1.3%
    South Korea’s Kospi: -2.3%
    Australia’s ASX All Ordinaries: -2.0%

    #42849
    Truman
    Participant

    Asia-Pacific region Thursday

    China tightened coronavirus restrictions in Chengdu.
    South Korea reported a record trade deficit for August.
    Japan’s Manufacturing PMI remained in expansion for the 19th month in a row but was at its lowest level in eleven months while China’s Caixin Manufacturing PMI fell into contraction.
    August casino revenue in Macau was down 50.7% yr/yr.
    Continued weakness in the yen pressured the Japanese currency to its lowest level against the dollar since mid-1998.
    China’s August Caixin Manufacturing PMI 49.5 (expected 50.2; last 50.4)
    Japan’s Q2 Capital Spending 4.6% qtr/qtr (expected 3.0%; last 3.0%) and August Manufacturing PMI 51.5 (expected 51.0; last 51.0)
    South Korea’s Q2 GDP 0.7% qtr/qtr, as expected (last 0.6%); 2.9% yr/yr, as expected (last 3.0%). August trade deficit $9.47 bln (expected deficit of $8.00 bln; last deficit of $4.80 bln). August Nikkei Manufacturing PMI 47.6 (last 49.8)
    India’s August Nikkei Manufacturing PMI 56.2 (expected 55.0; last 56.4)
    Australia’s August AIG Manufacturing Index 49.3 (last 52.5) and August Manufacturing PMI 53.8 (expected 54.5; last 55.7). August Home Loans -7.0% m/m (expected -3.0%; last -3.3%). Q2 Building Capital Expenditure -2.5% m/m (last -1.7%). August Commodity Prices 21.7% yr/yr (last 14.1%)

    #42850
    Truman
    Participant

    Major European indices trade lower across the board despite the release of mostly better than expected data from the region.

    —Equity Markets—

    STOXX Europe 600: -1.3%
    Germany’s DAX: -1.1%
    U.K.’s FTSE 100: -1.5%
    France’s CAC 40: -1.3%
    Italy’s FTSE MIB: -0.5%
    Spain’s IBEX 35: -0.6%

    #42851
    Truman
    Participant

    Germany’s retail sales showed a larger than expected increase in July but were still down yr/yr.
    European Commission President von der Leyen will reportedly outline the EU’s plan for managing the energy crisis during a speech on September 14.
    A Bank of England survey showed an increase in inflation expectations for the year ahead.
    Eurozone’s July Unemployment Rate 6.6%, as expected (last 6.7%). August Manufacturing PMI 49.6 (expected 49.7; last 49.7)
    Germany’s July Retail Sales 1.9% m/m (expected -0.4%; last -1.5%); -2.6% yr/yr (expected -6.5%; last -9.6%). August Manufacturing PMI 49.1 (expected 49.8; last 49.3)
    U.K.’s August Nationwide HPI 0.8% m/m (expected 0.1%; last 0.2%); 10.0% yr/yr (expected 8.9%; last 11.0%). August Manufacturing PMI 47.3 (expected 46.0; last 46.0)
    France’s August Manufacturing PMI 50.6 (expected 49.0; last 49.5)
    Italy’s July Unemployment Rate 7.9% (expected 8.1%; last 8.0%). Q2 GDP 1.1% qtr/qtr (expected 1.0%; last 0.1%); 4.7% yr/yr (expected 4.6%; last 6.2%). August Manufacturing PMI 48.0, as expected (last 48.5)
    Spain’s August Manufacturing PMI 49.9 (expected 48.5; last 48.7)
    Swiss July Retail Sales 2.6% yr/yr (expected 0.9%; last 0.7%). August CPI 0.3% m/m (expected 0.2%; last 0.5%); 3.5% yr/yr (expected 3.4%; last 3.4%). August procure.ch PMI 56.4 (expected 56.8; last 58.0)

    #42852
    Truman
    Participant

    NVIDIA (NVDA 144.42, -6.52, -4.32%): US govt informs NVIDIA that it has imposed a new license requirement for sales of A100 and H100 chips to China and Russia
    Advanced Micro (AMD 82.60, -2.27, -2.67%) : spokesperson says US told the company to stop selling artificial intelligence chip in China.
    Signet Jewelers (SIG 68.00, +2.63, +4.02%): beats by $0.09, reports revs in-line; guides Q3 revs in-line; guides FY23 EPS above consensus, revs below consensus
    Five Below (FIVE 132.20, +4.32, +3.38%): misses by $0.04, misses on revs; comps -5.8%; guides Q3 EPS and revs below consensus; guides FY23 EPS and revs below consensus
    C3.ai (AI 15.35, -2.65, -14.72%): beats by $0.12, misses on revs; guides OctQ and FY23 revs below consensus, says its customers are scrutinizing big deals as never before
    Okta (OKTA 76.69, -14.71, -16.09%): beats by $0.20, beats on revs; guides Q3 (Oct) EPS above consensus, revs in-line; guides FY23 EPS above consensus, revs in-line
    MicroStrategy (MSTR 226.00, -5.56, -2.40%): Washington DC AG Karl Racine tweets “NEW: Today, we’re suing Michael Saylor (MSTR Executive Chairman) – a billionaire tech executive who has lived in the District for more than a decade but has never paid any DC income taxes – for tax fraud”
    Veeva Systems (VEEV 173.26, -26.06, -13.07%): beats by $0.02, reports revs in-line; guides Q3 EPS in-line, revs below consensus; guides FY23 EPS above consensus, revs below consensus
    MongoDB (MDB 267.10, -55.76, -17.27%): beats by $0.05, beats on revs; guides Q3 EPS below consensus, revs above consensus; guides FY23 EPS below consensus, revs above consensus
    Ciena (CIEN 45.09, -5.65, -11.14%): misses by $0.01, misses on revs

    #42853
    Truman
    Participant

    Market Snapshot
    Dow 31251.86 -260.53 (-0.83%)
    Nasdaq 11591.59 -224.58 (-1.90%)
    SP 500 3907.19 -47.88 (-1.21%)

    NYSE Adv 474 Dec 2563 Vol 303 mln
    Nasdaq Adv 895 Dec 3261 Vol 2.3 bln

    Industry Watch
    Strong: Utilities, Health Care, Consumer Staples
    Weak: Energy, Materials, Information Technology, Financials

    Moving the Market
    — Carryover negative disposition from recent sessions
    — Rising Treasury yields
    — Renewed growth concerns from China’s new lockdown and global manufacturing PMI readings showing contractions

    #42854
    Truman
    Participant

    Value stocks have a slight performance edge over growth stocks with the Russell 3000 Growth Index down 1.8% while the Russell 3000 Value Index is “only” down 0.7%.

    CBOE Volatility Index is up 4.4%, or 1.13, to 27.00.

    #42855
    Truman
    Participant

    Q2 productivity decreased 4.1% (consensus -4.6%) with the revised report while unit labor costs increased 10.2% (consensus 10.7%) versus a 10.8% increase seen in the advance report.

    The key takeaway from the report is that nonfarm productivity decreased 2.4% from the same quarter a year ago, which is the largest decline in a series that began in the first quarter of 1948; meanwhile, unit labor costs saw the largest four-quarter increase (9.3%) since the first quarter of 1982.
    The decline in Q2 productivity stemmed from a 1.4% decrease in output and a 2.7% increase in hours worked.
    The increase in unit labor costs reflected a 5.7% increase in hourly compensation and a 4.1% decrease in productivity.

    #42856
    Truman
    Participant

    Initial claims for the week ending August 27 decreased by 5,000 to 232,000 (consensus 250,000) while continuing jobless claims for the week ending August 20 increased by 26,000 to 1.438 million.
    There were downward revisions for initial claims and continuing claims in the prior week, too.

    The key takeaway from the report is that the low level of initial claims is indicative of a tight labor market that continues to run afoul of the Fed’s effort to induce softer labor market conditions.

    The four-week moving average for initial claims decreased by 4,000 to 241,500.
    The four-week moving average for continuing claims increased by 4,500 to 1,428,500.
    The total number of continued weeks claimed for benefits in all programs for the week ending August 13 was 1,438,128, a decrease of 10,407 from the previous week. In the same week a year ago, there were 12,186,219 weekly claims filed for benefits in all programs.

Viewing 15 posts - 31 through 45 (of 58 total)
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