Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jul 30, 2021 at 11:47 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Ezines
  • Midday Market Check
 
Published on Jul 30, 2021 at 4:36 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap
  
Published on Aug 2, 2021 at 9:11 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are pointed higher to start the new month, with futures on the Dow Jones Industrial Average (DJI) up 97 points, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also sporting solid gains. Boosting sentiment this morning are easing Covid-19 delta variant fears, as well as progress towards an infrastructure bill in the Senate, which included $550 billion in new spending over the next five years, in addition to the previously approved $450 billion.

Continue reading for more on today's market, including:

  • Keep tabs on Nordstrom stock ahead of its quarterly report.
  • The meat alternative name eyeing a rare post-earnings pop
  • Plus, Square lands multi-billion dollar deal; analyst sings CPRI's praises; and Zoom settles privacy lawsuit.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.2 million call contracts traded on Friday, compared to 1.2 million put contracts. The single-session equity put/call ratio rose to 0.56 and the 21-day moving average inched higher to 0.52.
  2. The shares of Square Inc (NYSE:SQ) are down 3.1% in premarket trading, after the company said it will buy Australia-based Afterpay for roughly $29 billion in stock. The deal represents a 30% premium for Afterpay, and is also giving public finance name Affirm (AFRM) a leg up. Year-to-date, SQ has added 13.6%.
  3. Capri Holdings Ltd (NYSE:CPRI) was last seen up 1.2% ahead of the open. The equity earned an upgrade from MKM Partners to "buy" from "neutral" this morning, with the analyst in question noting strength in the luxury goods sector, as well as a series of upbeat quarterly reports. CPRI has been a long-term outperformer on the charts, up 268% year-over-year.
  4. Zoom Video Communications Inc (NASDAQ:ZM) will pay an $85 million settlement after it was accused of violating users' privacy rights. In addition, the tech name has committed to ramping up security so that hackers are unable to disrupt meetings on its platforms. In response, ZM is up 0.5% before the bell and at about breakeven for the quarter.
  5. The Markit manufacturing purchasing managers' index (PMI), the ISM manufacturing index, and data on construction spending are due out today.

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European Stocks Rise Thanks to Strong Earnings Season

Stocks in Asia rose today, led by China’s Shanghai Composite and Hong Kong’s Hang Seng, which popped 2% and 1.1%, respectively. Investors in the area reacted positively to manufacturing data, which showed slowed growth in July but still clocked in with an “expansion” reading. Japan's Nikkei delivered a 1.8% pop, despite new states of emergency in the country due to spiking Covid-19 cases. Elsewhere, the South Korean Kospi added 0.7%. 

European markets are higher as well, rising on the heels of a strong earnings season and positive global sentiment. Some big names set to step into the earnings confessional include Heineken (HEIA), Axa (EPA), and HSBC (HSBC). Meanwhile, the final Markit manufacturing PMI for July showed continued acceleration of euro zone factory activity. At last check, France’s CAC 40 is up 0.7%, London's FTSE 100 is 0.6% higher, while the German DAX added 0.08%. 

Published on Aug 2, 2021 at 12:25 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Ezines
  • Midday Market Check
 
Published on Aug 2, 2021 at 4:28 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap
  
Published on Aug 3, 2021 at 9:20 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are attempting a rebound this morning, after the major benchmarks turned lower yesterday as fears of slowing economic growth took hold of Wall Street. Futures on the Dow Jones Industrial Average (DJI) are 72 point higher, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are carrying more modest gains. A stabilizing 10-year Treasury yield is contributing to today's optimism, though investors are still keeping a close eye on the spread of the delta Covid-19 variant. Daily cases have now surpassed last summer's peak, but it was announced yesterday the U.S. reached its 70% vaccination goal.

Continue reading for more on today's market, including:

  • Schaeffer's V.P. of Research Todd Salamone is watching these key millennium levels on the Dow.
  • Murphy Oil stock could bounce off a historically bullish trendline.
  • Plus, unpacking Under Armour's blowout earnings; BP beats analysts' estimates; and mall giant provides upbeat sales update.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts traded on Monday, compared to 768,576 put contracts. The single-session equity put/call ratio fell to 0.51 and the 21-day moving average stayed at 0.52.
  2. Apparel retailer Under Armour Inc (NYSE:UAA) is up 5.9% in premarket trading, after reporting better-than-expected second-quarter earnings of 24 cents per share, as well as a revenue beat. To boot, the company raised its full-year profit forecast. Year-over-year, Under Armour stock already boasts an impressive 100.7% lead.
  3. The shares of BP plc (NYSE:BP) were last seen up 5.5% ahead of the open. The company earlier announced a quarterly profit and revenue beat, as oil and gas prices jumped. A 4% dividend hike, as well as plans to boost its share buyback program are also giving the equity a leg up today. Despite experiencing volatility on the charts, BP has added 49.6% over the last nine months.
  4. Simon Property Group Inc (NYSE:SPG) is 2.8% higher before the bell, after the mall concern announced sales for June returned to pre-pandemic levels. This news could help the company fill previously vacated spaces, as retailers consider signing new leases. The equity has been cooling since its June 8, annual high of $136.70, but remains up 102.6% year-over-year.
  5. Factory orders and motor vehicle sales data are on tap today.

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Asian Markets Drop After State Media Targets Tech Industry

Asian markets finished mostly lower on Tuesday. The big news came out of mainland China, after an article published by state media outlet Economic Information Daily voiced concern over the amount of time youths spent playing online games, going as far as describing it as a type of “opium.” The report led to substantial losses from firms in the gaming market such as Tencent, Netease, and Bilibili. In response, China’s Shanghai Composite and Japan’s Nikkei each shed 0.5%, while Hong Kong’s Hang Seng lost 0.2%. Elsewhere, the South Korean Kospi brushed off the report, going on to add 0.4% today.

Stocks in Europe, meanwhile, are higher this afternoon, despite worries over rising Covid-19 cases, new tech regulations in China, and questions surrounding U.S. economic growth. Strong earnings helped the major bourses find their footing, including BP’s blowout second-quarter report and dividend hike. At last check, France’s CAC 40 is up 1.1%, while London's FTSE 100 and the German DAX are 0.4% and 0.2% higher, respectively.

Published on Aug 3, 2021 at 12:10 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Ezines
  • Midday Market Check
 
Published on Aug 3, 2021 at 4:27 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap
  
Published on Aug 4, 2021 at 9:26 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are pointed lower this morning, brushing off yesterday's wins as dismal earnings reports from major automakers such as General Motors (GM) weigh on investor sentiment. Futures on the Dow Jones Industrial Average (DJI) are eyeing a 141-point drop, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also in the red. Also contributing to pessimism is the ADP private payroll survey,  which showed a smaller-than-expected gain of 330,000 jobs in July. Elsewhere, the 10-year Treasury Yield receded to 1.15%.

Continue reading for more on today's market, including:

  • Schaeffer's Senior Quantitative Analyst Rocky White dives into the state of investor sentiment.
  • These 25 stocks are some of the worst August performers
  • Plus, LYV pops on surging event sales; behind Avis Budget's best quarter ever; and CVS Health raises minimum wage.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Tuesday, compared to 797,901 put contracts. The single-session equity put/call ratio fell to 0.47 and the 21-day moving average stayed at 0.52.
  2. The shares of Live Nation Entertainment, Inc. (NYSE:LYV) are up 5.1% in premarket trading, after the company said sales for its latest quarter had surged eight times over. The positive results were attributed to a return to events and concerts following Covid-19 vaccinations, with tickets selling out despite a 10% premium from pre-pandemic prices. Year-over-year, LYV has added 67.8%, despite facing volatility.
  3. Car rental name Avis Budget Group Inc. (NASDAQ:CAR) was last seen up 0.7% ahead of the open. The company earlier reported blowout second-quarter earnings of $5.90 per share, as well as a revenue beat. A surge in demand and higher prices tripled sales, leading the firm to call this its best quarter ever recorded. The equity has charging higher since bouncing off the $66 level, and sports a 253.9% year-over-year lead.
  4. CVS Health Corp (NYSE:CVS) is 0.9% lower before the bell, despite posting second-quarter profits and revenue that beat Wall Street's estimates. The retail name said same-store sales rose a better-than-anticipated 12.3%, and added it is raising the minimum wage for its employees to $15 per hour. The security has been cooling off from a May 24, five-year high of $90.61, but has added 41.3% in the past nine months.
  5. Today brings the final Markit services PMI reading, and the ISM services index. 

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Asian Markets Pop on Upbeat Services Activity Data

Stocks in Asia closed Wednesday’s session with a win, boosted by data that showed Chinese services activity growth accelerated in July. Specifically, the Caixin/Markit services Purchasing Managers’ Index (PMI) finished at 54.9 last month, well above June’s reading and indicating a positive month-over-month expansion. The Kospi in South Korea walked away with the biggest gain, adding 1.3%. Meanwhile, China’s Shanghai Composite and Hong Kong’s Hang Seng each tacked on 0.9%. Rounding out the region, the Japanese Nikkei turned in a 0.2% loss as an uptick in Delta variant infections kept optimism in check.

European markets are also headed for a sunny day, as strong corporate earnings stateside help boost global sentiment. In addition, euro zone business activity is surging, with final PMI readings flashing the fastest expansion the region’s experienced in 15 years. In response, the German DAX is up 0.6%, while London's FTSE 100 and France’s CAC 40 are each 0.3% higher.

Published on Aug 4, 2021 at 12:28 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Ezines
  • Midday Market Check
 
Published on Aug 4, 2021 at 4:26 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap
  
Published on Aug 5, 2021 at 9:22 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are pointed modestly higher this morning, as investors digest fresh jobless claims data following yesterday's dismal ADP private payroll survey. Specifically, first-time filings dropped to 385,000 last week, matching analysts' estimates. Futures on the Dow Jones Industrial Average (DJI) are eyeing a 68-point pop, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also shooting for gains. Additionally, fresh data showed  the U.S. trade deficit hit a record in June, with both exports and imports rising for the month.

Continue reading for more on today's market, including:

  • Call traders blasted Redfin stock ahead of today's quarterly report.
  • RV giant looks like a solid choice for options bulls
  • Plus, Moderna brushes off earnings beat; e-commerce name bests analysts' estimates; and what is sinking Roku stock today.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Wednesday, compared to 878,254 put contracts. The single-session equity put/call ratio rose to 0.52 and the 21-day moving average stayed at 0.52.
  2. The shares of Moderna Inc (NASDAQ:MRNA) are down 3.8% in premarket trading, despite the pharmaceutical name beating Wall Street's second-quarter earnings and revenue estimates. Plus, the company noted its Covid-19 vaccine is 93% effective after six months. The stock yesterday surged to an all-time high of $433, and has added a whopping 157% over the past three months.
  3. E-commerce concern Wayfair Inc (NYSE:W) is surging ahead of the open, last seen 6.3%. The company posted better-than-expected  second-quarter earnings of $1.89 per share, while revenue came in well above pre-pandemic levels, amid a rise in active customers. The equity had been tumbling down the charts in recent weeks, guided lower by the 20-day moving average, but still carries an 11.2% year-to-date lead.
  4. Roku Inc(NASDAQ:ROKU) is 8.1% lower before the bell, brushing off a second-quarter earnings and revenue beat. Weighing on the streaming device is its user growth, which came in below analysts' expectations. The equity has been cooling off since hitting its July 27, all-time high of $490.76, but remains up an impressive 152.3% year-over-year.
  5. Things are quiet on the economic data front today.

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Asian Markets Drop Amid Aggressive Covid-19 Restrictions

Asian markets finished Thursday mostly lower, as China moved to more aggressive Covid-19 measures amid an uptick in delta variant cases. Specifically, residential communities are sealed off, flights and trains are suspended, and there’s mass testing in Wuhan – Covid’s ground zero. In response, mainland stocks, the Hang Seng in Hong Kong and Shanghai Composite in China, shed 0.8% and 0.3%, respectively. The video game sector remains in the crosshairs, after China’s state media published an article arguing that gaming companies should not have preferential tax measures. South Korea’s Kospi also dipped, losing 0.1%. Japan’s Nikkei was able to turn in a win for the region, rising 0.5% thanks to a round of upbeat corporate reports.

Meanwhile, in Europe, stocks are inching higher, as investors mull over more corporate earnings and a policy decision from the Bank of England (BoE). Though it warned of more substantial inflation in the near future, the BoE ultimately left its monetary policy unchanged, with lending rates at a historic low of 0.1%. Despite this decision, London’s FTSE was last seen 0.2% lower, while the CAC 40 in France and German DAX were last seen 0.2% and 0.04% higher, respectively.

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