Intel Misses Earnings Slashing Guidance as Margins and Data Center Revenue Plunge

Semiconductor giant Intel stock plunged after another dismal earnings report and guidance cut. INTC reported adjusted second-quarter earnings of 29 cents a share, compared with $1.36 a share from a year ago. Intel is the 2nd heaviest weight in the SMH ETF and had been bid up prior to the report after the passing of the CHIPS and Science Act aimed at boosting US chip production. The offers more than $52 billion for US chipmakers as well as tax credits for domestic … Continue reading “Intel Misses Earnings Slashing Guidance as Margins and Data Center Revenue Plunge”

World’s Top Chipmaker Samsung Reports Highest Second Quarter Profit Since 2018

Samsung Electronics reported second quarter earnings with a 12% rise on Thursday on solid sales of server memory chips. However, the company warned mobile and PC chip demand would continue to weaken as macroeconomic uncertainties persist. Samsung Electronics overtook Intel as the top semiconductor maker in Q3 last year. Operating profit rose to 14.1 trillion won ($10.8 billion) for the quarter from 12.57 trillion won a year earlier, its highest second-quarter profit since 2018. Samsung’s revenue rose 21% to 77.2 … Continue reading “World’s Top Chipmaker Samsung Reports Highest Second Quarter Profit Since 2018”

Market Wrap – Snap Wrecked Again as Tesla Sizzles July 21, 2022

Two things are certain it seems $SNAP gets crushed on warnings and Tesla and Natural Gas tears faces off punters. Prior to $SNAP’s earnings release the S&P 500 closed a tad shy of 4,000. We started off the Bank of Japan lowering its 2022 GDP growth forecast to 2.4% from 2.9% and the ECB announcing a larger-than-expected 50-basis point increase for its key lending rates. Initial jobless claims topped 250,000 for the first time since last November; the Philadelphia Fed Index … Continue reading “Market Wrap – Snap Wrecked Again as Tesla Sizzles July 21, 2022”

Market Wrap – Tearaway Inflation and Bank Earnings July 14, 2022

Doom and gloom reigns in the markets with Central Banks raising rates and scorching inflation with CPI and PPI breaking records in America. The Dow and S&P extended their losing streaks to 5 straight down days after both $MS and $JPM missed earnings. Stocks did bounce off their low after Federal Reserve Waller said he sees neutral as 2-2.25% and added that you don’t want to overdo rate hikes. Bonds quickly rebounded on that and at the lows the Dow … Continue reading “Market Wrap – Tearaway Inflation and Bank Earnings July 14, 2022”

Market Wrap – Oil and Natural Gas Rally on EIA Storage, Stocks Rally Ahead of Jobs July 7, 2022

Heading into tomorrow’s US Jobs Report stock markets rallied for the fourth day with the main indices up at least 1.0% at the close. Advancers led decliners by a roughly 3-to-1 margin at both the NYSE and the Nasdaq. The bounce coincided with the reversal in energy futures and the strength in semiconductors, which hold a leading indicator status. Energy futures reacted positively to both inventory reports. Natural gas settled the session up 13.6% to $6.25/mmbtu. WTI crude oil futures settled the session … Continue reading “Market Wrap – Oil and Natural Gas Rally on EIA Storage, Stocks Rally Ahead of Jobs July 7, 2022”

Market Wrap – Oil, Gold, Euro, Copper Crushed on Global Recession Fears July 5, 2022

Back from July 4th celebrations we were greeted by global growth worries. The euro being smashed lower to levels not seen since 2002 as parity chants grow louder. Germany is being rocked by the Energy crisis and its reliance on cheap Russian gas. German gas giant Uniper SE is in talks with the government over a potential bailout package of as much as 9 billion euros Bloomberg reports. Commodity prices continued to get pounded from the speculative highs, Wheat, Corn and Soybeans … Continue reading “Market Wrap – Oil, Gold, Euro, Copper Crushed on Global Recession Fears July 5, 2022”

Market Wrap – Central Banks Rate Frenzy Puts Bears Back in Charge June 16, 2022

The post FOMC meeting delusional stock market rally reacted the next day as one would suspect after the Fed raised 75 bps sending the $ES_F and other indices sharply lower. The declines were led by the Nasdaq as it nears its 200-week MA for the first time since the start of the pandemic in March 2020. The major indices are down 6 of 7 trading days. The big catalyst to remind the machines was the SNB hiking a surprise 50bp. … Continue reading “Market Wrap – Central Banks Rate Frenzy Puts Bears Back in Charge June 16, 2022”

Market Wrap – Punters Paradise as Futures React with Extreme Volatility After Fed Raises 75 bp June 15, 2022

The FOMC meeting brought extreme volatility, the Fed raised 75 bps as expected sending it lower but $ES_F rallied 100 handles plus when he said next month may not be as big, an allowance that the July meeting is likely to feature either a 50-basis point rate hike or a 75-basis point rate hike. Shorts got caught and the machines took over from an oversold short-term market. The rebound in the Treasury market fed the machines. That vote was not … Continue reading “Market Wrap – Punters Paradise as Futures React with Extreme Volatility After Fed Raises 75 bp June 15, 2022”

Market Wrap – More Selling in Stocks, Bonds and Natural Gas June 14, 2022

The markets chopped away today with eyes towards tomorrow’s FOMC meeting. The 2-yr note yield settled the session up 16 basis points at 3.43% and the 10-yr note yield settled up 12 basis points at 3.48%. The fed funds futures market is pricing in the probability of an aggressive Fed. The CME’s Fed Watch Tool shows a 96.6% probability of a 75-basis point rate hike on Wednesday (up from 3.9% a week ago), a 95.8% probability of another 75-basis point … Continue reading “Market Wrap – More Selling in Stocks, Bonds and Natural Gas June 14, 2022”

Market Wrap – Selling in Stock Markets Accelerate as Crypto Collapses June 13, 2022

The markets continued on from Friday’s wreckage flinging the Dow, Nasdaq, and S&P 500 to new 52-week lows and the S&P 500 back into bear market territory. What amazes us here is how was this a surprise, we warned of the Dribbler trap aka Bear market rally, we all knew CPI ahead, we had all the bank warnings, we knew FOMC on deck. We could go on and on, but human nature gets greedy and the dribblers if nothing else … Continue reading “Market Wrap – Selling in Stock Markets Accelerate as Crypto Collapses June 13, 2022”