2/21/2020
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Oh Deere!
Farm equipment maker Deere (DE) reported earnings of $1.63 per share compared to $1.54 per share a year ago. A total of $6.5 billion in equipment sales were registered for the first quarter ending in January to beat expectations. Deere stated that it sees signs of stabilization in the U.S. farm sector and though framer confidence is still subdued. The mood has improved due in part to hopes of a relaxation of trade tensions and higher agricultural exports. Deere is trading 6.4% higher in pre-market now just $5 away from its all-time high.
‘Drop’ it likes it hot
Dropbox (DBX) is higher in pre-market trading after the cloud-based storage company posted better-than-expected fourth-quarter results and announced a large stock repurchase plan worth $600 million. For the quarter Dropbox reported revenue of $446 million, up 19% from a year ago, ahead of the consensus estimate of $443.4 million. Earnings were $0.16 per share, which beat the consensus estimate of $0.14 per share by 14.29%. This is an 60% increase over earnings of 10 cents per share from the same period last year. Shares of DBX are up 15% as a result near $21.60 ahead of the open.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.4% near 3356
U.S. Crude Oil futures (/CL) -1.75% near $53.00 a barrel
CBOE Volatility Index (VIX) +8.0% near 16.80
Chewy (CHWY) +4.0% near $33.30, after outperform status from analyst
Weight Watchers (WW) +4.0% near $39.36, after the company sees a healthy upgrade
First Solar (FSLR) -11.75% near $52.35, after the solar-power company reported weaker earnings
Major Economic Reports:
7:30 am CT – Retail Sales
9:00 am CT – Existing Home Sales
Notable Earnings:
Friday:
A.M. – DE, HSC, RY
P.M. – N/A
Monday:
A.M. – CRSP, DDS
P.M. – OKE, SHAK, THC, TNDM
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2/20/2020
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The Secret is Out
Sycamore Partners is set to take a controlling stake of Victoria’s Secret from parent company-L Brands (LB) which is valued near $1.1 Billion for a reported $525 million. The company has struggled to adapt to a quickly changing retail landscape over past years as sales have shifted online toward cheaper alternatives. Founder and longstanding CEO, Les Wexner also revealed plans to step down from his position while maintaining his seat on the board. The company will continue to operate its popular Bed Bath and Body Works Unit independently which just saw quarterly comps jump 10% compared to the same period last year. Shares of LB are down 12% ahead of the open as investors digest the monumental change.
Domino’s Delivers
Shares of the re-invented pizza company are enjoying a strong showing today after smashing both earning and revenue estimates. Net income exceeded $129 million which was $20 million more than last year at this same time. The jump was attributed to higher franchise revenue and lower admin costs. Same store also sales jumped by 3.4% despite growing competition from other delivery services. There were 141 new stores added over the 4th quarter as their international footprint expands. Shares of DPZ are up an impressive 17% ahead of the open near $353.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.22% near 3379
U.S. Crude Oil futures (/CL) +0.7% near $53.86 a barrel
CBOE Volatility Index (VIX) +3.0% near 14.81
Zillow (Z) +8% near $61.50, after beating revenue expectations thanks to $1 billion in house flipping
Morgan Stanley(MS) -3% near $53.66, after the company announces plans to acquire E*TRADE for $13 Billion.
Major Economic Reports:
7:30 am CT – Philadelphia Fed Business Outlook Survey
7:30 am CT – Jobless Claims
9:00 am CT – Leading Indicators
9:30 am CT – EIA Natural Gas Report
3:30 pm CT – Fed Balance Sheet
3:30 pm CT – Money Supply
Notable Earnings:
Thursday:
A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX
P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE
Friday:
A.M. – DE, HSC, RY
P.M. – N/A
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**BOLD above indicates important and potential market-moving news and information
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2/20/2020
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The Secret is Out
Sycamore Partners is set to take a controlling stake of Victoria’s Secret from parent company-L Brands (LB) which is valued near $1.1 Billion for a reported $525 million. The company has struggled to adapt to a quickly changing retail landscape over past years as sales have shifted online toward cheaper alternatives. Founder and longstanding CEO, Les Wexner also revealed plans to step down from his position while maintaining his seat on the board. The company will continue to operate its popular Bed Bath and Body Works Unit independently which just saw quarterly comps jump 10% compared to the same period last year. Shares of LB are down 12% ahead of the open as investors digest the monumental change.
Domino’s Delivers
Shares of the re-invented pizza company are enjoying a strong showing today after smashing both earning and revenue estimates. Net income exceeded $129 million which was $20 million more than last year at this same time. The jump was attributed to higher franchise revenue and lower admin costs. Same store also sales jumped by 3.4% despite growing competition from other delivery services. There were 141 new stores added over the 4th quarter as their international footprint expands. Shares of DPZ are up an impressive 17% ahead of the open near $353.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.22% near 3379
U.S. Crude Oil futures (/CL) +0.7% near $53.86 a barrel
CBOE Volatility Index (VIX) +3.0% near 14.81
Zillow (Z) +8% near $61.50, after beating revenue expectations thanks to $1 billion in house flipping
Morgan Stanley(MS) -3% near $53.66, after the company announces plans to acquire E*TRADE for $13 Billion.
Major Economic Reports:
7:30 am CT – Philadelphia Fed Business Outlook Survey
7:30 am CT – Jobless Claims
9:00 am CT – Leading Indicators
9:30 am CT – EIA Natural Gas Report
3:30 pm CT – Fed Balance Sheet
3:30 pm CT – Money Supply
Notable Earnings:
Thursday:
A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX
P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE
Friday:
A.M. – DE, HSC, RY
P.M. – N/A
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**BOLD above indicates important and potential market-moving news and information
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2/19/2020
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Not So Heavy Metal
Palladium futures (/PA) rallied 7.8% to a new record of $2,497 a troy ounce in yesterday’s trading, despite an extended disruption of China’s automotive market due to the coronavirus outbreak. The metal has been in high demand as auto makers seek to meet tighter emissions standards. It has continued to extend its gains this year, with a greater than 30% rise in 2020. If Palladium continues to rise, there are thoughts the expense could force auto makers to add electric vehicles to their lineups faster than previously planned.
The Hits Just Keep Coming…
Boeing (BA), manufacturer of the troubled 737 MAX airplane, has a new issue to worry about. If the flight control software debacle wasn’t enough, the company has discovered debris in undelivered plane’s fuel tanks. The debris was found in an undisclosed number of 737 MAX’s that were stored in Texas and Washington state, during routine inspections.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) +0.35% near 3381
U.S. Crude Oil futures (/CL) +1.4% near $53 a barrel
CBOE Volatility Index (VIX) -4% near 14.25
Palladium (/PA) +7.1% near $2674, continuing its epic rally
Groupon (GRPN) -31% near $2.10, after a disappointing earnings report
Major Economic Reports:
6:00 am CT – MBA Mortgage Applications
7:30 am CT – CPI
7:30 am CT - PPI-FD
7:30 am CT – Housing Starts
7:55 am CT – Redbook
9:00 am CT – E-Commerce Retail Sales
1:00 pm CT – FOMC Minutes
Notable Earnings:
Wednesday:
A.M. – ADI, AG, APRN, ATHM, BHC, DISH, FUN, GPC, IMAX, THRM, VIPS, WING
P.M. – CAKE, CAR, CYH, FOSL, H, JACK, MOS, NTES, PAAS, PXD, STMP, WMB, Y, Z, ZG
Thursday:
A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX
P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE
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**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
2/18/2020
The Week Ahead
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Hey Warren, what’s in your grocery cart?
Warren Buffet’s Berkshire Hathaway (BRKB) disclosed in its 13f filing with the Securities and Exchange Commission that it purchased 18.9 million shares of Kroger (KR) in 4Q of 2019. Shares of Kroger (KR) are trading higher in pre-market. In addition to purchasing a new stake in the grocery chain, Berkshire also initiated a stake in Biogen (BIIB) and more than doubled its investment in Occidental Petroleum (OXY). The investment giant trimmed its stake in Apple (AAPL), Wells Fargo (WFC) and American Airlines (AAL) among a few others.
Sour Apple
Apple (AAPL) is trading down in pre-market after the computer giant warned that it does not expect to meet its own guidance for the March quarter because of impact from the coronavirus. The tech company had previously forecasted fiscal second-quarter revenue of $63 to $67 billion, and said it will fall short of those figures due to limited iPhone production for worldwide sales and lower demand for its products in China. They did not give a new revenue estimate for the quarter, saying it will provide more information during its next earnings call in April.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.4% near 3368
U.S. Crude Oil futures (/CL) -1.9% near $51.30 a barrel
CBOE Volatility Index (VIX) +10.0% near 15.00
Kroger’s (KR) +6.2% near $30.00, after Berkshire Hathaway initiated position in grocery chain
Apple (AAPL) -2.0% near $318.50, after company warned coronavirus will negatively impact revenue for the March quarter
Legg Mason(LM) +23.4% near $50.25, after company agreed to be purchased by Franklin Resources (BEN) for $50 per share
Major Earnings for the Upcoming Week (2/17-2/21):
Monday:
U.S. Holiday – Presidents Day, Markets Closed
Tuesday:
A.M. – AAP, ECL, FLR, HSBC, MDT, SAGE, TRU, WLK, WMT
P.M. – A, DVN, GRPN, HLF, LZB, NTR, TIVO, VNO
Wednesday:
A.M. – ADI, AG, APRN, ATHM, BHC, DISH, FUN, GPC, IMAX, THRM, VIPS, WING
P.M. – CAKE, CAR, CYH, FOSL, H, JACK, MOS, NTES, PAAS, PXD, STMP, WMB, Y, Z, ZG
Thursday:
A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX
P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE
Friday:
A.M. – DE, HSC, RY
P.M. – N/A
Economic Releases (2/17-2/21):
Monday:
U.S. Holiday – Presidents Day, Markets Closed
Tuesday:
7:30 am CT – Empire State Mfg Survey
7:30 am CT – Manufacturing Sales
9:00 am CT – Housing Market Index
3:00 pm CT – Treasury International Capital
Wednesday:
6:00 am CT – MBA Mortgage Applications
7:30 am CT – CPI
7:30 am CT - PPI-FD
7:30 am CT – Housing Starts
7:55 am CT – Redbook
9:00 am CT – E-Commerce Retail Sales
1:00 pm CT – FOMC Minutes
Thursday:
7:30 am CT – Philadelphia Fed Business Outlook Survey
7:30 am CT – Jobless Claims
9:00 am CT – Leading Indicators
9:30 am CT – EIA Natural Gas Report
3:30 pm CT – Fed Balance Sheet
3:30 pm CT – Money Supply
Friday:
7:30 am CT – Retail Sales
9:00 am CT – Existing Home Sales
Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*
*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
2/18/2020
The Week Ahead
Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call877.733.6786*
Hey Warren, what’s in your grocery cart?
Warren Buffet’s Berkshire Hathaway (BRKB) disclosed in its 13f filing with the Securities and Exchange Commission that it purchased 18.9 million shares of Kroger (KR) in 4Q of 2019. Shares of Kroger (KR) are trading higher in pre-market. In addition to purchasing a new stake in the grocery chain, Berkshire also initiated a stake in Biogen (BIIB) and more than doubled its investment in Occidental Petroleum (OXY). The investment giant trimmed its stake in Apple (AAPL), Wells Fargo (WFC) and American Airlines (AAL) among a few others.
Sour Apple
Apple (AAPL) is trading down in pre-market after the computer giant warned that it does not expect to meet its own guidance for the March quarter because of impact from the coronavirus. The tech company had previously forecasted fiscal second-quarter revenue of $63 to $67 billion, and said it will fall short of those figures due to limited iPhone production for worldwide sales and lower demand for its products in China. They did not give a new revenue estimate for the quarter, saying it will provide more information during its next earnings call in April.
Pre-Market Movers and Shakers
S&P 500 futures (/ES) -0.4% near 3368
U.S. Crude Oil futures (/CL) -1.9% near $51.30 a barrel
CBOE Volatility Index (VIX) +10.0% near 15.00
Kroger’s (KR) +6.2% near $30.00, after Berkshire Hathaway initiated position in grocery chain
Apple (AAPL) -2.0% near $318.50, after company warned coronavirus will negatively impact revenue for the March quarter
Legg Mason(LM) +23.4% near $50.25, after company agreed to be purchased by Franklin Resources (BEN) for $50 per share
Major Earnings for the Upcoming Week (2/17-2/21):
Monday:
U.S. Holiday – Presidents Day, Markets Closed
Tuesday:
A.M. – AAP, ECL, FLR, HSBC, MDT, SAGE, TRU, WLK, WMT
P.M. – A, DVN, GRPN, HLF, LZB, NTR, TIVO, VNO
Wednesday:
A.M. – ADI, AG, APRN, ATHM, BHC, DISH, FUN, GPC, IMAX, THRM, VIPS, WING
P.M. – CAKE, CAR, CYH, FOSL, H, JACK, MOS, NTES, PAAS, PXD, STMP, WMB, Y, Z, ZG
Thursday:
A.M. – AKS, CLF, DPZ, GIL, HFC, HRL, NEM, SIX, SO, TFX
P.M. – AAOI, COG, CUBE, DBX, ED, FIT, FSLR, MORN, NBR, OLED, PYBI, VALE
Friday:
A.M. – DE, HSC, RY
P.M. – N/A
Economic Releases (2/17-2/21):
Monday:
U.S. Holiday – Presidents Day, Markets Closed
Tuesday:
7:30 am CT – Empire State Mfg Survey
7:30 am CT – Manufacturing Sales
9:00 am CT – Housing Market Index
3:00 pm CT – Treasury International Capital
Wednesday:
6:00 am CT – MBA Mortgage Applications
7:30 am CT – CPI
7:30 am CT - PPI-FD
7:30 am CT – Housing Starts
7:55 am CT – Redbook
9:00 am CT – E-Commerce Retail Sales
1:00 pm CT – FOMC Minutes
Thursday:
7:30 am CT – Philadelphia Fed Business Outlook Survey
7:30 am CT – Jobless Claims
9:00 am CT – Leading Indicators
9:30 am CT – EIA Natural Gas Report
3:30 pm CT – Fed Balance Sheet
3:30 pm CT – Money Supply
Friday:
7:30 am CT – Retail Sales
9:00 am CT – Existing Home Sales
Option Trade Ideas for your Inbox! Get 2 Free Strategies for 60 days email support@tradewise.com or call 877.733.6786*
*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
