11/15/2019
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That Sounds Familiar?
White House advisor Larry Kudlow indicated that the U.S. and China are “getting close” to a deal. Commerce Secretary Ross said the two countries are working diligently and are trying to come to terms on the fine details. This sent futures higher in the overnight session even though it feels like we have repeatedly heard the same statements before with no results.
Under the Armour
The WSJ reported that former executives said they scrambled to meet aggressive sales targets, borrowing from future quarters to mask slowing demand in 2016. The company has recently come under investigation for their accounting practices. Under Armour has responded to the article saying their accounting practices were entirely appropriate and their actions were part of the normal business practices in the apparel, footwear, and retail industries.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) +0.3% near 3107
U.S. Crude Oil futures (/CL) +0.3% near $57 a barrel
RH.COM (RH) +7% near $187, after Berkshire Hathaway announced a stake in the company
Applied Materials (AMAT) +6.4% near $60.70, following a positive earnings report
Major Economic Reports:
7:30 am CT – Retail Sales
7:30 am CT – Empire State Mfg. Survey
7:30 am CT – Import and Export Prices
8:15 am CT – Industrial Production
9:00 am CT – Business Inventories
12:00 pm CT – Baker-Hughes Rig Count
Notable Earnings:
Friday – 11/15:
A.M. – JD
P.M. – N/A
Monday – 11/18:
A.M. – N/A
P.M. – N/A
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11/14/2019
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Mickey says: How about those numbers, Netflix?
Disney (DIS) shares rose over 7% yesterday to a new record closing price of $146.39 on a strong debut of their new Disney+ streaming service. The company announced that it had signed up over 10 million subscribers, within a day of launching. Although an impressive number, the company did not give details on how many were on promotions.
The Cisco Slide
The networking giant stoked fears of a global slowdown in tech when the company issued a disappointing forecast for the second consecutive quarter during its earnings call. The CEO said ‘the entire quarter was worse than we had expected’ and the company projected that revenue would fall between 3% and 5% year over year.
Wally World!
The Arkansas based, retailing giant Walmart (WMT) reported strong earnings results this morning. Their third quarter earnings came in at $1.16 a share, which beat the consensus estimate of $1.09. The company also raised their EPS guidance for 2020, and expects a slight rise over 2019.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.2% near 3088
U.S. Crude Oil futures (/CL) +0.7% near $57.50 a barrel
Cisco (CSCO) -5.0% near $45.75, following a downbeat revenue forecast
Walmart (WMT) +2.5% near $124, following a strong earnings report
Major Economic Reports:
7:30 am CT – Jobless Claims
7:30 am CT – PPI-FD
8:10 am CT – FOMC member Evans speaks
9:30 am CT – EIA Natural Gas Report
10:00 pm CT – EIA Petroleum Status Report
11:00 am CT – FOMC member Williams speaks
3:30 pm CT – Money Supply
3:30 pm CT – Fed Balance Sheet
Notable Earnings:
Thursday – 11/14:
A.M. – CGC, VIAB, WMT
P.M. – AMAT, DDS, NVDA, WPM
Friday – 11/15:
A.M. – JD
P.M. – N/A
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11/13/2019
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Ladies and Gentlemen, the Fed Chairman, Jerome Powell
Federal Reserve Chairman Jerome Powell is set to address the Congressional Joint Economic Committee about the current economic outlook today at 10 am CT. Powell’s testimony comes after the Fed cut rates in October for the third time this year. After that meeting, Powell raised the bar for further cuts, but hinted the Fed was a long way off from raising rates.
Google, not your parent’s bank
Google (GOOG) will soon offer checking accounts to consumers, becoming the latest Silicon Valley power to push into finance. The project, code named Cache, will be operated by Citigroup and the Stanford Federal Credit Union. Google is following other big tech firms such as Apple (AAPL), who has introduced a credit card this summer while Facebook (FB) is working on a digital currency called Libra.
Duck, Duck, Goose!
The popular coat-maker (GOOS) is trading higher by 6% this morning after citing "strong revenue growth in key markets" in their latest quarterly report. Expected revenue growth of 20% along with an even more impressive 25% in EPS growth was reiterated for the remainder of FY 2020 as winter conditions begin to take hold in much of the U.S.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.3% near 3083
U.S. Crude Oil futures (/CL) -0.4% near $56.50 a barrel
Tesla (TSLA) +1.8% near $356.00, after announcing its second factory outside the USA, in Berlin, Germany
Walt Disney (DIS) -0.03% near $138.10, after the release of Disney+ streaming service
Datadog (DDOG) +12.1% near $38.60, following the cloud-based analytics company first earnings report since going public
Luckin Coffee (LK) +7.6% near 19.30, following the Chinese coffee chain’s earnings results
Major Economic Reports:
6:00 am CT – MBA Mortgage Applications
7:30 am CT – CPI
9:00 am CT – Atlanta Fed Business Inflation Expectations
10:00 am CT – Fed Chairman Powell speaks
12:30 pm CT – FOMC member Kashkari speaks
2:00 pm CT – Treasury Budget
Notable Earnings:
Wednesday – 11/13:
A.M. – GOOS, SSYS
P.M. – CSCO, NTAP, NTES, VIPS
Thursday – 11/14:
A.M. – CGC, VIAB, WMT
P.M. – AMAT, DDS, NVDA, WPM
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11/12/2019
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Teeing Up a New CEO
Troubled office sharing start up, WeWork is in talks with telecom veteran and CEO of T-Mobile (TMUS), John Legere to step in as leader. The company is looking to fill the spot as early as January, but Legere stands to receive a significant windfall if T-Mobile (TMUS) completes the takeover of Sprint (S) next year.
Alibaba….BOOM!
Chinese e-commerce giant, Alibaba (BABA) set another Singles Day shopping record, which is part Black Friday, part Super Bowl half time show. The company sold $38.3 billion of goods, which is 26% higher than the record set last year.
Pre-Market Movers and Shakers(as of this writing)
S&P 500 futures (/ES) +.05% near 3088
U.S. Crude Oil futures (/CL) +.5% near $57 a barrel
Advanced Auto Parts (AAP) -6% near $158.50, after trimming same store sales view
Rockwell Automation (ROK) +11%% near $199.50, after easily beating earnings estimates
Major Economic Reports:
5:00 am CT – NFIB Small Business Optimism Index
7:55 am CT – Redbook
12:00 pm CT – FOMC member Harker speaks
5:00 pm CT – FOMC member Kashkari speaks
Notable Earnings:
Tuesday– 11/12:
A.M.– CSIQ, CBS, NIO, OSTK,DHI, PCG, SAGE, TSN, VOD
P.M. – HUYA, RIOT, SWKS, TLRY, YY
Wednesday– 11/13:
A.M. – GOOS, SSYS
P.M. – CSCO, NTAP, NTES, VIPS
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November 11, 2019
The Week Ahead
Single and Ready to Mingle
Alibaba (BABA) has just reached $33.3 Billion in sales in the space of 24 hours amid the ever-growing popularity of singles day in China. Today becomes the world’s largest shopping event pacing both Black Friday and Cyber Monday in the United States. Surprisingly, shares of BABA are down nearly $2 ahead of the open at $185, but up nearly 5% so far in the month of November leading up to the awe-inspiring event.
Sparking Interest
Shares of automaker, TESLA (TSLA) are getting a boost today after an astronomic $100 jump in a price target was announced by an analyst this morning. TSLA has been on a rampage since reporting a profit in their last quarterly result which has shares bouncing back to January highs near $342. Sustained profitability was cited as the primary factor in the change.
Movers and Shakers (pre-open)
Chewy (CHWY) –The rapidly growing online pet products seller is finally seeing positive movement this morning from an analyst price raise to $29 a share. Shares have slipped near lows of $22.99 with 9 of the last 10 sessions trading weaker. The CEO purchased nearly $1 million worth of shares earlier in October in a show of confidence.
S&P 500 futures (/ES) -0.4% near 3078
U.S. Crude Oil futures (/CL) -1.52% near $56.38 per barrel off renewed trade concerns
Major Earnings for the Upcoming Week (11/11-11/15):
Monday:
A.M. – FOLD
P.M. – N/A
Tuesday:
A.M.– CSIQ, CBS, DHI, PCG, SAGE, TSN, VOD
P.M. – HUYA, SWKS, TLRY, YY
Wednesday:
A.M. – GOOS, SSYS
P.M. – CSCO, NTAP, NTES, VIPS
Thursday:
A.M. – CGC, VIAB, WMT
P.M. – AMAT, DDS, NVDA, WPM
Friday:
A.M. – JD
P.M. – N/A
Economic Releases (11/11-11/15):
Monday:
U.S. Holiday: Veteran’s Day
Tuesday:
5:00 am CT – NFIB Small Business Optimism Index
7:55 am CT – Redbook
12:00 pm CT – FOMC member Harker speaks
5:00 pm CT – FOMC member Kashkari speaks
Wednesday:
6:00 am CT – MBA Mortgage Applications
7:30 am CT – CPI
9:00 am CT – Atlanta Fed Business Inflations Expectations
10:00 am CT – Fed Chairman Powell speaks
12:30 pm CT – FOMC member Kashkari speaks
2:00 pm CT – Treasury Budget
Thursday:
7:30 am CT – Jobless Claims
7:30 am CT – PPI-FD
8:10 am CT – FOMC member Evans speaks
9:30 am CT – EIA Natural Gas Report
10:00 pm CT – EIA Petroleum Status Report
11:00 am CT – FOMC member Williams speaks
3:30 pm CT – Money Supply
3:30 pm CT – Fed Balance Sheet
Friday:
7:30 am CT – Retail Sales
7:30 am CT – Empire State Mfg Survey
7:30 am CT – Import and Export Prices
8:15 am CT – Industrial Production
9:00 am CT – Business Inventories
12:00 pm CT – Baker-Hughes Rig Count
*Follow us on Twitter @TradeWise
**BOLD above indicates important and potential market-moving news and information
TradeWise Advisors is offering a free trial for 2 trading strategies for 60 days each: Use coupon code Marketblog to apply this trial on your current account at www.tradewise.com or contact us at support@tradewise.com
