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Stock Market Today: August 1st - 5th

Discussion in 'Stock Market Today' started by bigbear0083, Jul 29, 2016.

  1. bigbear0083

    bigbear0083 Content Manager
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    Early movers: PG, PFE, AET, CVS, CAH, HD, GNRC, MNK, ABC, HMC & more

    Procter & Gamble — The consumer products giant reported adjusted quarterly profit of 79 cents per share, five cents a share above estimates. Revenue also beat analysts' projections. P&G did say that current-quarter earnings would be disproportionately affected by currency fluctuations.

    Pfizer — The drugmaker came in two cents a share above estimates, with quarterly profit of 64 cents per share. Revenue was also above estimates. The company's results were helped by sales of its newer products as well as its 2015 acquisition of Hospira.

    Aetna — The insurer reported adjusted quarterly profit of $2.21 per share, beating estimates by nine cents a share. Revenue was also above Street forecasts. Aetna announced it would withdraw all of its 2017 public exchange expansion plans, citing significant structural challenges. Separately, Aetna and potential merger partner Humanaannounced the sale of some Medicare Advantage assets to Molina Healthcare. That would be contingent on completion of Aetna's purchase of Humana, which the Justice Department is currently opposing.

    CVS Health — The drugstore operator and pharmacy benefits manager reported adjusted quarterly profit of $1.32 per share, two cents a share above estimates. Revenue missed analysts' forecasts. The company lowered its 2016 guidance, but did give a current-quarter forecast slightly above analysts' estimates.

    Cardinal Health — The integrated health care products company earned $1.14 per share for its fiscal fourth quarter, beating estimates by a penny a share. The company also beat on the top line.

    Home Depot — Stifel initiated coverage on the home improvement retailer with a "buy" rating, based in part on a bullish backdrop for home improvement spending.

    Generac — The maker of home generators came in four cents a share above estimates, with adjusted quarterly profit of 64 cents per share. Revenue also exceeded forecasts. The results were driven by a strong increase in residential sales.

    Mallinckrodt — The drugmaker earned an adjusted $2.20 per share for the second quarter, 19 cents a share above estimates. Revenue and the company's full-year forecast also exceeded expectations. Mallnckrodt's results are being helped by strong growth in its specialty brands segment.

    AmerisourceBergen — The drug distributor earned an adjusted $1.37 per share for its fiscal third quarter, ten cents a share above estimates. Revenue and the company's full-year forecast are also above consensus. The company said its results have been helped by strong growth in its specialty segment, as well as recent acquisitions.

    Honda Motor — The automaker reported stronger-than-expected first-quarter operating profit. An increase in sales helped offset the negative effects of currency fluctuations.

    Volkswagen — Volkswagen is seeking dismissal of a class action lawsuit in California. The suit claims that the automaker's former CEO Martin Winterkorn and current brand chief Herbert Diess were directly involved in misleading statements regarding Volkswagen's diesel emissions scandal, but the company says no proof has been provided.

    Emerson Electric — Emerson sold its motors and drives unit to Japan's Nidec Corp. for $1.2 billion, and announced an agreement to sell its Network Power unit to a group of investors for $4 billion.

    Coach — Coach struck a 20-year sale and leaseback deal for its New York City headquarters, a transaction which will result in a gain of about $30 million.

    Bank of America — Bank of America said its results could be adversely if Britain's exit from the European Union limits the ability of its U.K. units to conduct business in Europe.

    McDonald's — The restaurant chain will use sugar instead of corn syrup in its hamburger buns, and has eliminated artificial preservatives from its Chicken McNuggets and a handful of items on its breakfast menu.

    Texas Roadhouse — The restaurant operator reported a 3.7 percent increase in same-restaurant sales for the first four weeks of its third quarter, a slower rate than the second quarter's 4.5 percent pace.

    Boeing — Boeing won a $640 million Pentagon contract to supply spare parts for the F/A-18 aircraft.

    Williams Cos — Williams reported a quarterly loss and announced a 69 percent dividend cut, to 20 cents per share from 64 cents a share. The natural gas pipeline company wants to put more cash into affiliate Williams Partners.

    Cognex — Cognex reported better-than-expected second-quarter earnings, and the maker of barcode scanners also predicted current-quarter revenue that exceeds analysts' forecasts. Cognex is benefiting from growth in its consumer electronics business, as well as other sectors.

    Salesforce.com — Salesforce bought document-editing startup Quip for about $582 million. The cloud software maker already had an investment in Quip, and plans to operate it as a wholly owned subsidiary.

    Twitter — Twitter communications chief Natalie Kerris has departed, just a few months after joining the company. Twitter chief marketing officer Leslie Berland will take over those duties.
     
  2. StockJock-e

    StockJock-e Brew Master
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    SODA +12% pre market!
     
  3. StockJock-e

    StockJock-e Brew Master
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    Today our daily dose of doom comes from Oppenheimer:

    10% drop in equities 'quite possible' in coming months: Goldman's Oppenheimer
    - CNBC.com

    Equities in developed markets are once again looking a little expensive, according to Peter Oppenheimer, chief global equities strategist at Goldman Sachs, who has suggested that a 10 percent drop in the asset class could happen in the coming months.

    "I think it's quite possible we could get a move up to around 10 percent lower, we thought for a long time that markets are stuck in what we described as a 'fat and flat' range," he told CNBC Tuesday, expanding on a research note published by the investment bank on Monday.
     
  4. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Bah hum bug :p
     
  5. StockJock-e

    StockJock-e Brew Master
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    The thing is... it is coming!

    But when? :D
     
    Tiptopptrader likes this.
  6. StockJock-e

    StockJock-e Brew Master
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    Wow, nice sell off here so far, decliners still pushing, new lows here in Adv/Dec
     
    Tiptopptrader likes this.
  7. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    if it doesnt break 2150, bulls have nothing to worry about...for now.
     
  8. MaximusAnalysis

    MaximusAnalysis Active Member

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    2139.50 is the next level below for #ES_F $ES_F not saying it is getting there...but rather prepare everyone with levels
     
  9. StockJock-e

    StockJock-e Brew Master
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    Nothing wrong with a little selling after big run ups!
     
  10. HelloIDistance

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    I'm currently short in most of my positions. I think the market needs to take a breather this month. I think with oil as low as it is, this crazy election cycle, mortgage interest rates nearing all time lows (again, still), and global concerns - the market will finally take a hit. I think the jobs report on Friday will be key.
     
  11. MaximusAnalysis

    MaximusAnalysis Active Member

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    leonx81 likes this.
  12. surfsup

    surfsup Active Member

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    There's still some good longs. CVS is doing well today - got some yest. Going to be interesting these next few weeks. FYI SPX PE ratio continues to go skyward - approximately where it was pre-2000 and 2008 crashes. Some good earnings out there but some bad too.
     
  13. bigbear0083

    bigbear0083 Content Manager
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  14. StockJock-e

    StockJock-e Brew Master
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    Markets off the lows, at least sellers have eased up a bit here.
     
  15. duck mich

    duck mich Member

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    Thank you BIIB, I'm still in AGN, I'm hoping AGN bring me some more cash
     
  16. PJCM3

    PJCM3 Member

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    I cant believe how well ETSY performed the last few days. I'm surprised there isn't a thread dedicated to the stock. I'd be happy to start it myself if someone can tell me where they get all the info for each stock.
     
  17. bigbear0083

    bigbear0083 Content Manager
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    @PJCM3

    http://www.finviz.com/ is what many of us use to create each company threads here. Include the chart and company description right from finviz ... If you need any help with it lmk ;)
     
  18. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Just looked at ETSY it is strong. So are GRPN and GRUB, and W. All internet-based businesses.
     
  19. bigbull

    bigbull Active Member

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    The Yen is front and center. To me this is were the center of attention will be in the second half of the year.

    The currency cannot weaken even after the BOJ pledge further easing. Of course, the BOJ will do what it can to keep the Yen above 100 vs. the greenback no matter what the cost just to save face. Will it do anything to spur economic growth and investment? Highly doubtful. But this no longer about reviving the economy but about proving a deflated point just because.

    The BOJ is injecting about 80 trillion Yen a year into the economy through asset purchases, mainly of Japanese government bonds. How much further can it go? This is what you get when you corner a market; you get everyone to flee, leaving you with no two sided action and an unresponsive market place. Who wants to participate in a market were market signals are irrelevant and have the same result?

    The idea of punishing savers and pension funds to force them into the risk(-ier) part of the investment curve is maddening. When a currency fails to respond to monetary policy, a point of entropy is reached. There is no turning back. I am afraid we've reached that point and the market is clearly indicating it. But they want to keep pushing on the string. For what?
     
    #59 bigbull, Aug 2, 2016
    Last edited: Aug 2, 2016
    MaximusAnalysis likes this.
  20. MaximusAnalysis

    MaximusAnalysis Active Member

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    Today's Market Thoughts

     

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