Good morning Stockaholics! Happy End of Month! Good riddance to August! Frontrunning: August 31 Treasuries Extend Drop in August on Fed Outlook as Dollar Gains (BBG) Oil slips on dollar strength, still set for monthly gain (Reuters) Trump to make dramatic trip to Mexico before immigration speech (Reuters) Rep. Debbie Wasserman Schultz Beats Back Florida Primary Challenge (WSJ) Ban cash because... SWIFT discloses more cyber thefts, pressures banks on security (Reuters) Fed's Evans, citing slow growth, says low U.S. rates are here to stay (Reuters) Google Takes on Uber With New Ride-Share Service (WSJ) Key Islamic State leader killed in apparent U.S. strike in Syria (Reuters) Trump’s Top Fundraiser Eyes the Deal of a Lifetime (BBG) U.S. Farm Incomes to Hit Lowest Level Since 2009 (WSJ) Google Takes on Uber With New Ride-Share Service (WSJ) After Initial Drop, Fresh Surge in Migrant Arrivals Puts Extra Strain on Greece (WSJ) Italy rescues 3,000 migrants from Mediterranean as arrivals surge (Reuters) World’s Top Performing Fund Is Running Out of Good Stocks to Buy (BBG) Theranos Halts New Zika Test After FDA Inspection (Theranos) Storm bears down on Florida, hurricane threatens Hawaii (Reuters) Mondelez Shifts From Hunter to Hunted After Hershey Deal Dies (BBG) Hong Kong yuan deposits fall to the lowest since 2013 (Reuters) FUTURES NOW: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): NUGT PANW JNUG GDX SINA VEEV KPTI ININ DUST AG CHS WB BOBE HRB RXDX VUZI BZUN KOS CCUR JDST POT NVCR BAC AGU THIS MORNINGS EARLY NEWS MOVERS: Viacom — Former CEO Philippe Dauman sold the remainder of his class B shares, worth $31 million, after selling more than $28 million in shares last week. Bob Evans Farms — The restaurant chain and food distributor earned an adjusted 48 cents per share for its first quarter, 4 cents a share above estimates. Revenue fell below forecasts, however. Bob Evans also raised its full-year forecast, with its food distribution business performing well, making up for some weakness in its restaurant business. H&R Block — The tax services provider reported an adjusted loss of 55 cents per share for its latest quarter, 2 cents a share wider than anticipated. Revenue also fell below forecasts as Block had fewer customers and was also impacted by currency fluctuations. Palo Alto Networks — Palo Alto reported quarterly profit of 50 cents per share, matching estimates, while the cybersecurity company's revenue exceeded forecasts. The company also gave a full-year forecast that rises above consensus forecasts, but the current-quarter outlook is below estimates. AstraZeneca — AstraZeneca will pay $5.52 million to resolve a Securities and Exchange Commission foreign bribery case. The drugmaker had been accused of improper payments by its sales and marketing personnel to state officials in Russia and China, but did not admit or deny guilt in settling the case. Express Scripts — Express Scripts will introduce a program in 2017 that caps patient spending costs on diabetes drugs. The pharmacy benefits manager is trying to limit drug spending increases by participants to about half of the nearly 18 percent rise forecast overall for 2017. Amazon.com — Amazon is debuting its Amazon Dash button in Britain with 48 brands available for instant re-order. Dollar General — Dollar General was downgraded to "neutral" from "overweight" at Atlantic Equities, which cited a lack of near-term transparency for the discount retailer's outlook. Quest Diagnostics — The medical lab services company was downgraded to "neutral" from "buy" at Mizuho, with the move coming on a valuation basis after the stock substantially outperformed its benchmark indexes after a March upgrade. PNC Financial — The bank was upgraded to "outperform" from "market perform" at Keefe Bruyette & Woods, which thinks the stock is trading at attractive levels considering the company's opportunities to grow earnings. Mattel — The toy maker announced a partnership involving its American Girl brand with Toys R Us. The retailer will be the only U.S. retailer to have an American Girl "shop-in-shop" in certain stores. Good trading to day to everyone in here on this final trading day of the month of August!
happy 666 TTT! @Tiptopptrader @OldFart there's that spooky # again ... i thought that was just an HSM phenomena ... now here? what the ... lol
US stocks inch lower despite solid jobs data NEW YORK (AP) — U.S. stocks are slightly lower Wednesday morning as energy companies and makers of chemicals and other materials take the biggest losses. A survey of private employers showed that hiring continued at a solid pace in August, but stocks are wrapping up a quiet month. KEEPING SCORE: The Dow Jones industrial average fell 20 points, or 0.1 percent, to 18,434 as of 10:07 a.m. Eastern time. The Standard & Poor's 500 index gave up 3 points, or 0.2 percent, to 2,172. The Nasdaq composite dipped 5 points, or 0.1 percent, to 5,218. JOBS DATA: Private U.S. businesses added 177,000 jobs in August, according to a survey by payroll processor ADP. After weak hiring this spring, results from July and August suggest employers are bringing on workers at a healthy clip. The federal government will release its own jobs figures on Friday, and analysts expect a gain of 180,000 jobs. Investors think the Federal Reserve is more likely to raise interest rates later this year if hiring stays solid.
Market Map heading into the late morning: That DG! Still getting rocked... Most Active chatter this morning are: SPU TWTR SWHC PANW TSLA VEEV GOOG AMBA WTW CHS FRO BBRY BAC UCO TASR FIVE NCS HRB GLNG JPM MGM VRX VUZI SCO ER after the close today are: $CRM $CTRP $FIVE $BOX $OLLI $SMTC $SCVL $QUNR $OXM $ASND $BLOX $GEF $AVAL $PI
Yen continues to weaken in the face of economic pressure. $108 - $115 USD/JPY is the sweet spot authorities will want to hold the currency to alleviate economic pressure faced by Japanese exporters. It still doesn't solve the problem, but its enough to keep Japan from following into another recession. I still believe the market will take its cues from the Yen and EEM currencies in the back half of the year.
Like you were talking about a few weeks back, the gold trade was overcrowded. The big players got out a while ago, so it stopped making any big moves. They're scaring out the small-time players right now. Gold has this trendline waiting (ignore the yellow line I forgot to delete it) It may bounce from there, but I think gold will go under 1300 for a bit. Foment a little more doubt. And then it could really run. Shadowtrader.net had this chart yesterday (http://www.shadowtrader.net/gold-2/): The current gold bull market is shown as that small red line in the lower left corner right now, and this is supposed to suggest that gold's run is just starting.
YY having a good day. One of those Chinese/emerging market stocks. Looks like it's got 5.5% more run to 55 Weekly chart: BABA holding up well
TWTR looking pretty strong. (edit: M&A rumor again ) I'm thinking CRM is going down. Has not held above the 50-day ma since last ER, and some big volume days in last 2-3 weeks while below the 50-day suggests selling.
markets lifting here as we head into the final 2 hours of trading in month end August ... TICK +1149 HOD
ding ding ding ... whelp that wraps up the month of August ... in what was one of the narrowest monthly trading ranges in years Here are the final percentage changes for the indices for August... SPX: -0.12% DJIA: -0.17% NASDAQ: +0.99% RUSS 2K: +1.73% DJ TRANS: +0.41% NASDAQ 100: +0.86% Getting back to that narrowest range for the markets (SPX) check out this 20yr monthly chart ... you'd be hard-pressed to find a more smaller monthly stick than the one we just finished off with this month... The month saw a range of 46.23 handles altogether ... that's the smallest range of this entire bull run that started in '09 ... and the smallest since at least 2006 ... i don't have the official stat in front of me right now since markets just closed ... but it's possible once this settles out that this might've been the narrowest monthly range since the mid-90s ... i'll try to have that posted in here once it become available ... or i'll just get the #'s myself nevertheless wow was this a tight range!
BOX may be interesting. I know Cy is shorting it in our weekly contest. Past: I never thought much of BOX the company. Present: It's had a good run but looked overbought. Just had a good ER (still losing money) but is down 1-2% after hours. Future: Competitor DropBox has admitted to being hacked and losing 68M passwords. Maybe I would buy this down at 12.25. Someone started buying this in July.
Good morning Stockaholics! Happy first trading day of September! Frontrunning: September 1 Global shares snap losing streak as oil ends its decline (Reuters) Trump returns to hardline position on illegal immigration (Reuters) U.S., others agreed to 'secret' exemptions for Iran after nuclear deal (Reuters) China’s Factory Gauge Unexpectedly Rises to Highest Since 2014 (BBG) Weak Pound Drives U.K. Factories Back From Brexit Shock (BBG) Elon Musk Faces Cash Squeeze at Tesla, SolarCity (WSJ) Cash Keeps Pouring Out of European Stocks (WSJ) Gross Calls for Two Fed Hikes at Double the Pace Seen by Market (BBG) Yellen Speech Contained Clue to Reading the August Jobs Report (BBG) Deutsche Bank Weighs Stronger Medicine (WSJ) Apple Squeezes Parts Suppliers to Protect Margins (WSJ) Hanjin Ships Get Stranded in High Seas, Roiling Supply Chain (BBG) Australia must choose between United States and China: U.S. Army official (Reuters) Andreessen Horowitz’s Returns Trail Venture-Capital Elite (WSJ) Why Luck Plays a Big Role in Making You Rich (BBG) After Initial Drop, Fresh Surge in Migrant Arrivals Puts Extra Strain on Greece (WSJ) Puerto Rico Oversight Panel Named to Halt Island Debt Crisis (BBG) Musk Talked Merger With SolarCity CEO Before Sale of Stock (BBG) Hollywood’s Summertime Bombs Got a Lot More Disastrous This Year (BBG) Salesforce Revenue Forecast Falls Short on Cloud Competition (BBG) STOCK FUTURES NOW: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): CRM SPU WYNN SWHC DB CPB BOX FIVE MPEL LULU CHTR CYNA VUZI GCO CIEN LVS KONE CTRP COST NCLH AMBA NVS PRE-MARKET ER: $CIEN $CPB $JOY $LE $VRA $XCRA $GCO $MEI $ITRI THIS MORNING'S EARLY NEWS MOVERS: Campbell Soup — The food company reported adjusted quarterly profit of 46 cents per share, 4 cents a share below estimates. Revenue was just shy of forecasts. Campbell said it was not pleased with the quarterly results, pointing specifically to "execution issues" with its Campbell Fresh business. Its full-year EPS forecast of $3 to $3.09 is also shy of the consensus estimate of $3.14 a share. Joy Global — The mining equipment maker earned an adjusted 10 cents per share for its latest quarter, 2 cents a share below estimates. Revenue was also below forecasts. Joy said that market conditions remain "extremely challenged." Salesforce.com — The cloud software company reported adjusted quarterly profit of 24 cents per share, 2 cents a share above estimates. Revenue was very slightly above forecasts, but its current-quarter revenue and profit estimates came in below Street estimates. Shoe Carnival — Shoe Carnival's earnings fell 5 cents a share below estimates, with quarterly profit of 22 cents per share. Revenue was below forecasts, as were the shoe retailer's comparable-store sales. Box — Box lost an adjusted 14 cents per share for its latest quarter, 5 cents smaller a share than estimated. The online file sharing company saw revenue come in above Street forecasts, however, and Box raised its full-year outlook on improving sales. Charter Communications — The cable operator's stock will replace EMCin the S&P 500 after the close of trading on September 7, with EMC being acquired by privately held computer maker Dell. Apple — Apple CEO Tim Cook told a Dublin radio station that the company expects to repatriate billions of dollars back to the U.S. next year, although he did not specify an amount. He also called the European Union's $14.5 billion tax bill for the company "total political crap." Las Vegas Sands, Wynn Resorts — Shares in the casino operators could benefit from news that gaming revenue in Macau rose by 1.1 percent in August, the first monthly year-over-year growth in the Chinese territory since May of 2014. Wal-Mart Stores — The retail giant is beginning its holiday layaway program tomorrow, two weeks early, hoping to get a jump on the holiday shopping season. Lazard — Lazard erred in its analysis of SolarCity's worth in its work advising the solar equipment company on its sale to Tesla Motors, according to a regulatory filing, undervaluing SolarCity by $400 million. However, the purchase price of $2.6 billion was within the valuation range even with the miscalculation factored in. McDonald's — McDonald's named Executive Vice President Christopher Kempczinski as the new president of McDonald's USA as of the end of the year, following the retirement of current president Michael Andres. JPMorgan Chase — The bank was given a stand-alone asset management license in China, according to a regulatory filing. Costco — The discount retailer reported flat global comparable-store sales for August, and flat comps in the U.S., as well. Both measures had been expected to rise by 1.3 percent, according to estimates from Thomson Reuters. Five Below — Five Below raised its forecast for the full year, after the discount retailer reported better-than-expected results for its most recent quarter. However, it gave downbeat guidance for the current quarter, which includes the back to school shopping season as well as Halloween. Good trading day to everyone in here today!!
wow, that was an insane reversal in GC just now, i wonder what happened? was down to 1306, and now its up to 1312
i'm thinking more chop today as everyone awaits jobs data tomorrow morning ... i'll be interested to see what the employment # will be within the ISM coming out in 10min ... most of the regional manufacturing indexes for August were pretty crappy to say the least
