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SPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
BRIEFING.COM
15:26 : CASY Casey's General Stores' famous pizza was not enough to prevent investors from selling today (206.49 -8.27) : Casey's General Stores' (CASY -3%) famous pizza was not enough to prevent investors from selling today despite the company beating on earnings and revs last night. Casey's reported Q4 (Apr) earnings of $1.12 and revenue growth of 31.2% yr/yr to $2.38 bln.BRIEFING.COM
XLE Sector Briefing: Energy (54.18 +1.97) Most sectors started today's session in the green with energy (+3.8%) claiming the early lead. Key factors driving today's performance include: Support from a higher price of oil. WTI crude is up $2.33, or 3.5%, at $68.65/bbl, reaching its highest level since late 2018.STOCK MARKET UPDATE
The U.S. Dollar Index increased 0.1% to 90.07. WTI crude futures decreased 0.8%, or $0.54, to $66.32/bbl. Reviewing Friday's economic data: Personal income declined 13.1% month-over-month (Briefing.com consensus -15.0%), as the total of stimulus payments made was greatlyreduced from March.
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
UPGRADES/DOWNGRADES CALENDAR Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BOND MARKET UPDATE
Personal current transfer receipts declined 41.4% month-over-month after increasing 95.2% month-over-month in March. The personal savings rate fell to 14.9% from 27.7% in March, but still remains at an extremely high level. Real disposable personal income declined 15.1% and was down 4.4% year-over-year.BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
BRIEFING.COM
15:26 : CASY Casey's General Stores' famous pizza was not enough to prevent investors from selling today (206.49 -8.27) : Casey's General Stores' (CASY -3%) famous pizza was not enough to prevent investors from selling today despite the company beating on earnings and revs last night. Casey's reported Q4 (Apr) earnings of $1.12 and revenue growth of 31.2% yr/yr to $2.38 bln.BRIEFING.COM
XLE Sector Briefing: Energy (54.18 +1.97) Most sectors started today's session in the green with energy (+3.8%) claiming the early lead. Key factors driving today's performance include: Support from a higher price of oil. WTI crude is up $2.33, or 3.5%, at $68.65/bbl, reaching its highest level since late 2018.STOCK MARKET UPDATE
The U.S. Dollar Index increased 0.1% to 90.07. WTI crude futures decreased 0.8%, or $0.54, to $66.32/bbl. Reviewing Friday's economic data: Personal income declined 13.1% month-over-month (Briefing.com consensus -15.0%), as the total of stimulus payments made was greatlyreduced from March.
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
UPGRADES/DOWNGRADES CALENDAR Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BOND MARKET UPDATE
Personal current transfer receipts declined 41.4% month-over-month after increasing 95.2% month-over-month in March. The personal savings rate fell to 14.9% from 27.7% in March, but still remains at an extremely high level. Real disposable personal income declined 15.1% and was down 4.4% year-over-year.BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual.BRIEFING.COM
Initial jobless claims for the week ending May 22 decreased by 38,000 to 406,000 (Briefing.com consensus 425,000), marking the lowest claims level since March 14, 2020. Continuing claims for the week ending May 15 decreased by 96,000 to 3.642 million.BRIEFING.COM
XLE Sector Briefing: Energy (54.18 +1.97) Most sectors started today's session in the green with energy (+3.8%) claiming the early lead. Key factors driving today's performance include: Support from a higher price of oil. WTI crude is up $2.33, or 3.5%, at $68.65/bbl, reaching its highest level since late 2018.WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
BRIEFING.COM
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BRIEFING.COM: HOURLY IN PLAY (R) Personal spending (PCE) increased 0.5% month-over-month (Briefing.com consensus +0.4%), down from an upwardly revised 4.7% (from 4.2%) in March. That's not bad on the surface, but it was a price-driven increase. Real PCE decreased 0.1% in April. The PCE Price Index jumped 0.6% and the core PCE Price Index, which excludes food and energy,rose 0.7%.
BRIEFING.COM: EARNINGS CALENDAR Indicates companies have been confirmed, companies without a check box are unconfirmed and still tentative. All release dates are subject tochange.
BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveSTOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
Briefing.com uses cookies to store information on your computer that is essential for making the site work and customizing the userexperience.
UPGRADES/DOWNGRADES CALENDAR Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveSTOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
Briefing.com uses cookies to store information on your computer that is essential for making the site work and customizing the userexperience.
UPGRADES/DOWNGRADES CALENDAR Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual.BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveBRIEFING.COM
Briefing.com uses cookies to store information on your computer that is essential for making the site work and customizing the userexperience.
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XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
LOCK-UPS - BRIEFING.COM Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
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Description. Hourly In Play. Live Short Stories. Live Story Stocks. Live Stock Market Update. Upgrades/Downgrades. Stock Brief. Tech Stocks. Earnings Calendar. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveSTOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
Briefing.com uses cookies to store information on your computer that is essential for making the site work and customizing the userexperience.
UPGRADES/DOWNGRADES CALENDAR Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveSTOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
Briefing.com uses cookies to store information on your computer that is essential for making the site work and customizing the userexperience.
UPGRADES/DOWNGRADES CALENDAR Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual.BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveBRIEFING.COM
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BRIEFING.COM
Live. •. Our most popular streaming service for financial pros and active investors features: Sophisticated, income-generating investing and trading ideas. Live market commentary and analysis. General market and economic perspective. Full suite of calendars. Custom portfolio email alerts. Briefing In Play Plus Subscribers SayPREMIUM SERVICES
We offer the superior market analysis, research, and ideas you need to profit in today's markets. Choose a service below to get started. Our basic market coverage service filters out the noise and keeps you fully-informed with: Live market coverage. In-depth analysis. Full suite of calendars. Custom portfolios &ECONOMIC CALENDAR
GO TO: LOG OUT. Register for Free Access. ×. Get full access to a variety of calendar data, educational articles, and stay fully informed with free email alerts and newsletters. We offer a variety of email notifications and newsletters to help you stay on top of the markets, opt-in to start receiving alerts today. All Column Alerts. LEGAL - BRIEFING.COM Briefing.com collects any applicable taxes, whether state, county, local, city, sales, consumption, value-added, excise, use or other taxes, when due. The sales tax is applied to the total amount of the services ordered and is based on the end-user's state and local sales tax rates. The following services are exempt from sales taxes in anyBRIEFING.COM
The company priced 15M shares at $25 last month. The company reported a ~10% EBITDA margin and triple digit growth (revenue +134% to $46M) in Q1 last Thursday morning. The stock is trading at a record high above $36 premarket with a nearly $6B valuation, or ~25x forward revenue. This is an intriguing company.BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor LOCK-UPS - BRIEFING.COM Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
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An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
WEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
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An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual.BRIEFING.COM
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The company priced 15M shares at $25 last month. The company reported a ~10% EBITDA margin and triple digit growth (revenue +134% to $46M) in Q1 last Thursday morning. The stock is trading at a record high above $36 premarket with a nearly $6B valuation, or ~25x forward revenue. This is an intriguing company.BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor LOCK-UPS - BRIEFING.COM Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
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14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
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This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
STOCK MARKET UPDATE
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BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
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14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveWEEKLY WRAP
This week featured a lot of churn and rotation between growth and value stocks, which made for a lackluster performance at the index level. The Nasdaq Composite (+0.3%) rose modestly, while the S&P 500 (-0.4%), Dow Jones Industrial Average (-0.5%), and Russell 2000 (-0.4%) ended with modest losses. The market appeared to adhere to the"peak
STOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
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Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COM: HOURLY IN PLAY (R) The Advance report for International Trade in Goods for April showed a deficit of $85.2 billion versus $90.6 billion in March. The Advance report for Retail Inventories for April decreased 1.6%, while the Advance report for Wholesale Inventories for April increased 0.8%. As a reminder, the market will be closed on Monday for Memorial Day.BRIEFING.COM
Initial jobless claims for the week ending May 22 decreased by 38,000 to 406,000 (Briefing.com consensus 425,000), marking the lowest claims level since March 14, 2020. Continuing claims for the week ending May 15 decreased by 96,000 to 3.642 million.BRIEFING.COM
14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
STOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
Live. •. Our most popular streaming service for financial pros and active investors features: Sophisticated, income-generating investing and trading ideas. Live market commentary and analysis. General market and economic perspective. Full suite of calendars. Custom portfolio email alerts. Briefing In Play Plus Subscribers SayPREMIUM SERVICES
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An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor LOCK-UPS - BRIEFING.COM Calendars: Schedules of economic releases, broker ratings, stock splits, IPOs, upcoming earnings, company guidance, and conferencecalls.
THE BRIEFING TRADER TEAM ScalpTrader (SCALP) Damon Southward, Chief Market Strategist: In addition to Intraday, Swing and Distressed strategies, I trade Cryptocurrencies and run Yield/Income and Options strategies. I attempt to identify the most compelling opportunities being presented across Financial markets and perform the work necessary to get out in front of those situations. BRIEFING.COM: UPGRADES/DOWNGRADES Market Perform » Outperform. $20 » $21. Pioneer Natural Resources. PXD. Scotiabank. Sector Perform » Sector Outperform. $175 » $185.Pure Storage. PSTG.
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XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
BRIEFING.COMIN PLAY BRIEFING COMDSS COURIER BRIEFING 14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
BRIEFING.COMBRIEFING PRICINGBRIEFING IN PLAYBRIEFING TRADER COSTBRIEFING IN PLAY PLUSBRIEFING IN PLAY REVIEWS Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveWEEKLY WRAP
Week in Review: Good performance from not only stocks but also bonds. The stock market had all-around good performance from the large-caps, mid-caps, small-caps, and even the micro-caps. Risk assets appeared to draw support from the calmness of the Treasury market, which staved off pestering inflation concerns and accompanying valuation concerns.STOCK MARKET UPDATE
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Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
BRIEFING.COMIN PLAY BRIEFING COMDSS COURIER BRIEFING 14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
BRIEFING.COMBRIEFING PRICINGBRIEFING IN PLAYBRIEFING TRADER COSTBRIEFING IN PLAY PLUSBRIEFING IN PLAY REVIEWS Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveWEEKLY WRAP
Week in Review: Good performance from not only stocks but also bonds. The stock market had all-around good performance from the large-caps, mid-caps, small-caps, and even the micro-caps. Risk assets appeared to draw support from the calmness of the Treasury market, which staved off pestering inflation concerns and accompanying valuation concerns.STOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
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Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the laborBRIEFING.COM
Initial jobless claims for the week ending May 22 decreased by 38,000 to 406,000 (Briefing.com consensus 425,000), marking the lowest claims level since March 14, 2020. Continuing claims for the week ending May 15 decreased by 96,000 to 3.642 million.BRIEFING.COM
Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveWEEKLY WRAP
Week in Review: Good performance from not only stocks but also bonds. The stock market had all-around good performance from the large-caps, mid-caps, small-caps, and even the micro-caps. Risk assets appeared to draw support from the calmness of the Treasury market, which staved off pestering inflation concerns and accompanying valuation concerns.BRIEFING.COM
Live. •. Our most popular streaming service for financial pros and active investors features: Sophisticated, income-generating investing and trading ideas. Live market commentary and analysis. General market and economic perspective. Full suite of calendars. Custom portfolio email alerts. Briefing In Play Plus Subscribers SayPREMIUM SERVICES
We offer the superior market analysis, research, and ideas you need to profit in today's markets. Choose a service below to get started. Our basic market coverage service filters out the noise and keeps you fully-informed with: Live market coverage. In-depth analysis. Full suite of calendars. Custom portfolios &BRIEFING.COM
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BRIEFING IN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May ADP Employment Change Report estimates 978,000 positions were added to private-sector payrolls (Briefing.com consensus 675,000) following a downwardly revised 654,000 (from BRIEFING.COM: EARNINGS CALENDAR Briefing.com: Earnings Calendar. Indicates companies have been confirmed, companies without a check box are unconfirmed and still tentative. All release dates are subject to change. Wednesday, May 26. Before The Open. Actual. S&P Capital IQ Consensus. Yr Ago. Yr/Yr Rev. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
BRIEFING.COMIN PLAY BRIEFING COMDSS COURIER BRIEFING 14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
BRIEFING.COMBRIEFING PRICINGBRIEFING IN PLAYBRIEFING TRADER COSTBRIEFING IN PLAY PLUSBRIEFING IN PLAY REVIEWS Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveWEEKLY WRAP
Week in Review: Good performance from not only stocks but also bonds. The stock market had all-around good performance from the large-caps, mid-caps, small-caps, and even the micro-caps. Risk assets appeared to draw support from the calmness of the Treasury market, which staved off pestering inflation concerns and accompanying valuation concerns.STOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
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BRIEFING IN PLAYBRIEFING IN PLAYBRIEFING IN PLAY PLUSBRIEFING LIVE IN PLAYBRIEFING IN PLAY REVIEWSBRIEFING IN PLAY SCHWABBRIEFING COM HOURLYIN PLAY
Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the labor BRIEFING.COMECONOMIC CALENDARLOG INUPGRADES/DOWNGRADESSTOCKSPLITSIPOREGISTER
XLK Sector Briefing: Technology (138.75 +0.84) Most sectors trade near their respective flat lines while the top-weighted technology sector (+0.6%) outperforms, lending support to the broader market. The sector has gained 1.9% this week versus a 1.3% week-to-date gain in the S&P500 (+0.2%).
BRIEFING.COMIN PLAY BRIEFING COMDSS COURIER BRIEFING 14:55 : SPLK Splunk is in a bit of a funk after reporting Q1 earnings yesterday (112.10 -11.69) : Splunk (SPLK -9%) is in a bit of a funk after reporting Q1 earnings yesterday. After returning to profitability last quarter, SPLK dipped back into the red this quarter, posting a loss per share of $(0.91) vs the $(0.70) consensusestimate.
BRIEFING.COMBRIEFING PRICINGBRIEFING IN PLAYBRIEFING TRADER COSTBRIEFING IN PLAY PLUSBRIEFING IN PLAY REVIEWS Our premier service for active traders includes the live market coverage and income generating ideas from Briefing In Play Plus, and features: Live trading calls with entry & exit points. Live market intelligence from senior analysts. In-depth trading analysis & research. Trader Audio liveWEEKLY WRAP
Week in Review: Good performance from not only stocks but also bonds. The stock market had all-around good performance from the large-caps, mid-caps, small-caps, and even the micro-caps. Risk assets appeared to draw support from the calmness of the Treasury market, which staved off pestering inflation concerns and accompanying valuation concerns.STOCK MARKET UPDATE
Stock Market Update: Frequent updates that focus on broad U.S. and overseas market activity, key economic releases and stock futures trading that begin prior to U.S. market open and end with a final comment after the close.BRIEFING.COM
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Briefing In Play. Stay fully informed with our award-winning, live market coverage service featuring: Columns: In-Depth Analysis. Access a variety of columns that provide in-depth fundamental and technical perspective on the markets and economy, plus proprietary analysis of select individual stocks. See our Briefing InPlay Plus level ofservice
BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May employment report was not as good as expected in terms of payroll growth, but it was better than what was seen in April. The unemployment rate dropped to 5.8%, yet the laborBRIEFING.COM
Initial jobless claims for the week ending May 22 decreased by 38,000 to 406,000 (Briefing.com consensus 425,000), marking the lowest claims level since March 14, 2020. Continuing claims for the week ending May 15 decreased by 96,000 to 3.642 million.BRIEFING.COM
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Week in Review: Good performance from not only stocks but also bonds. The stock market had all-around good performance from the large-caps, mid-caps, small-caps, and even the micro-caps. Risk assets appeared to draw support from the calmness of the Treasury market, which staved off pestering inflation concerns and accompanying valuation concerns.BRIEFING.COM
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BOND MARKET UPDATE
An ongoing synopsis of events that could have an impact on interest and FX rates as they occur in the bond market. The May ADP Employment Change Report estimates 978,000 positions were added to private-sector payrolls (Briefing.com consensus 675,000) following a downwardly revised 654,000 (from BRIEFING.COM: EARNINGS CALENDAR Briefing.com: Earnings Calendar. Indicates companies have been confirmed, companies without a check box are unconfirmed and still tentative. All release dates are subject to change. Wednesday, May 26. Before The Open. Actual. S&P Capital IQ Consensus. Yr Ago. Yr/Yr Rev. BRIEFING.COM: EARNINGS CALENDAR 0.49. (a) Excluding non-recurring items. (b) Calculated using current exchange rate. (c) May not be comparable to consensus. Wednesday, June 23. Before The Open. Actual. Briefing.com uses cookies to store information on your computer that is essential for making the site work and customizing the user experience. By using the site, you consent to the placement of these cookies. Read the cookie policy andlearn more.
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Today's Free FeatureThe Next Big Thing DoorDash looks to sprint out of the gate as red-hot IPO market set to finish 2020 with a bang (DASH) The IPO market is poised to put an exclamation point on a remarkable year that at times resembled the booming days of the dotcom era. Several prominent companies are looking to strike while the iron is hot by launching IPOs before the books close on 2020. Most notably, the list includes food delivery leader DoorDash (DASH) and online home rental company Airbnb (ABNB), both of which are expected to go publicnext week. ...
Live Analysis
Hand-picked samples of today's live market analysis.Updated: 04-Dec-20
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Industry Briefing: Chipmakers__
Ollie’s Bargain Outlet not looking like a bargain after huge Q2 comps tail off in Q3__
Market Briefing: Recovery-minded view boosts market__
DocuSign signed off on another impressive earnings report, billings concerns have disappeared__
Marvell not so marvelous today as supply chain concerns sink shares__
Blue Chip Trader - - Pre-Mkt Friday Notes__
ScalpTrader Morning Notes__
Notable Research Calls for Friday, December 4__
November sees notable slowdown in hiring activity__
Gapping down
14:36
SOXX INDUSTRY BRIEFING: CHIPMAKERS(378.35 +9.01)
The PHLX Semiconductor Index (+2.5%) is among today's best performing groups, rallying to a fresh record high. The high-beta group has jumped 5.8% this week, extending its Q4 gain to 24.1%. Key factors driving today's performance include: * Continuation of a strong showing from one of the best performers of the year. The group is up 50.5% since the end of 2019. * Positive press surrounding the industry. The Semiconductor Industry Association reported a 6% yr/yr increase in October global sales and raised its forecast for 2020 sales. * Gains in 29 out of 30 components of the group with 16 listings reaching fresh records.NOTABLE MOVERS:
* MICRON (MU 73.53, +3.63, +5.2%) best performer in the sector, rising to its best level in more than 20 years. * MKS INSTRUMENTS (MKSI 150.32, +7.11, +5.0%): rising to a freshrecord high.
* QUALCOMM (QCOM 157.17, +7.24, +4.8%): rising to a fresh recordhigh.
* MICROCHIP (MCHP 143.13, +4.62, +3.3%): rising to a fresh recordhigh.
* ANALOG DEVICES (ADI 143.75, +4.00, +2.9%): rising to a fresh recordhigh.
* BROADCOM (AVGO 411.63, +11.83, +3.0%): rising to a fresh recordhigh.
* MAXIM INTEGRATED (MXIM 86.29, +2.28, +2.7%): rising to a fresh record high. Senior VP sold $784,000 worth of shares on Tuesday. * QORVO (QRVO 163.91, +4.78, +3.0%): rising to a fresh record high. * ON SEMICONDUCTOR (ON 29.92, +0.82, +2.8%): rising to a fresh recordhigh.
* APPLIED MATERIALS (AMAT 88.22, +2.12, +2.5%): rising to a freshrecord high.
* MARVELL (MRVL 43.10, -2.42, -5.3%): lone decliner in the group, deepening its pullback from a record high after acknowledging supply chain issues in its in-line report for Q3. Summit Insights downgraded the stock to Hold from Buy.12:37
OLLI OLLIE’S BARGAIN OUTLET NOT LOOKING LIKE A BARGAIN AFTER HUGE Q2 COMPS TAIL OFF IN Q3 (81.22 -8.28) OLLIE'S BARGAIN OUTLET'S (OLLI -9%) is falling sharply today despitereporting
strong
upside with its Q3 (Oct) earnings report last night. However, when we dig a bit deeper, we can find some nuggets that are of understandable concern to investors. * At first glance, a $0.07 EPS beat and decent revenue upside for this extreme value retailer should not warrant a big drop in the stock price. However, after beats of $0.15 and $0.14 the past two quarters, the upside in Q3 was not as impressive. * Comps of +15.3% in OctQ were also very strong, but, again, OLLI posted ridiculous +43.3% comps in Q2 (Jul). Granted these comparisons are not totally fair because consumers were stocking up early in the pandemic, yet maybe the drop off was more than investors wereexpecting.
* Another concern is for the upcoming holiday quarter. While OLLI did not provide specific guidance for Q4 (Jan), it did say comps moderated in the latter part of Q3 and continue to do so now, with quarter to date positive comps in low single digits. The quarter is a third over and mid-single digit comps thus far is not that great. We also do not like to see comps tail off at the end of quarters like happened in Q3. It doesn't bode well for the next quarter. We also like to see good momentum going into the all-important holiday quarter, so this was anegative.
* The commentary on the call was a bit subdued. OLLI says it's locked and loaded for the remainder of the holiday season; however, it also conceded there is a great deal of uncertainty related to COVID-19 and its potential impact on consumer demand. It's also disappointing that OLLI continues to refrain from providing guidance, although it's not a surprise since most retailers are doing this. Bottom line, we see OLLI being a victim of its own success. This was a good quarter overall (in what world are +15% comps a bad thing?). The problem is that OLLI just did not stack up to the booming results of Q1 and Q2. And while the Q3 comps were not bad, the linearity was not great, with weakness late in the quarter that seems to be extending into Q4. This latter point seems to be a real nugget of concern forinvestors.
11:06
TALKX MARKET BRIEFING: RECOVERY-MINDED VIEWBOOSTS MARKET
There was a clear slowdown in hiring activity seen in the November employment report, yet THERE HASN'T BEEN ANY SLOWDOWN IN THE STOCK MARKET'S RECOVERY OUTLOOK. The major indices are all trading higher, with the Russell 2000 leading the way; cyclical sectors are today's best-performing areas; and longer-dated Treasury securities are getting hit with selling interest. The 10-yr yield is up six basis points to 0.98%. The stock market's recovery view has been tethered today to the following influences: * Expectations that the weaker than expected 245,000 increase in nonfarm payrolls and rising number of long-term unemployed workers, who accounted for 36.9% of the unemployed in November versus 32.5% in October, will be seen as a basis by Congress to agree to another stimulus package soon. * The impending approval and distribution of Covid vaccines in theU.S.
* The broadening out of buying efforts that includes interest in owning both growth and value stocks. * Upward-trending commodity prices, including copper ($3.52/lb, +0.03, +0.8%) and oil ($45.97/bbl, +0.33, +0.7%), the latter of which has been supported by news of a smaller-than-potential production increase from OPEC+ members beginning in January The energy sector (+4.4%) is well ahead of today's leadership pack and is being followed by the materials (+1.5%), industrials (+1.3%), real estate (+1.2%), and financials (+1.1%) sectors. The Russell 2000 is up 1.2%; the S&P 500 is up 0.7%; the Dow Jones Industrial Average is up 0.6%; and the Nasdaq Composite is up 0.4%.10:58
DOCU DOCUSIGN SIGNED OFF ON ANOTHER IMPRESSIVE EARNINGS REPORT, BILLINGS CONCERNS HAVE DISAPPEARED(247.75 +16.74)
DOCUSIGN (DOCU +7%) signed off on yet another impressive earningsreport .
DOCUSIGN IS TAILOR-MADE TO BENEFIT FROM THE NEED FOR SOCIAL DISTANCING AND WORKING FROM HOME since its electronic signature platform allows people to sign and create important documents and contracts without being in the same room as other people. This dynamic has been made evident by the numbers DOCU has posted in recent quarters, including Q3 (Oct) last night. * MOST PEOPLE ARE LIKELY FOCUSING ON THE HEADLINE EPS AND REVENUE NUMBERS. THEY WERE BOTH SOLID BEATS AND DESERVE PRAISE. The $0.12 EPS beat this quarter was DOCU's largest since the company went public in April 2018. Also, revenue rose 53.5% yr/yr to $382.9 mln, well ahead of prior guidance of $358-362 mln. This revenue growth rate was also DOCU's largest as a public company. * AS GOOD AS THE EPS AND REVENUE NUMBERS WERE, WE THINK THE BULK OF THE RISE IN THE STOCK IS BEING FUELED BY THE BILLINGS DATA. Last quarter, DOCU guided to a sequential decline in billings in Q3 ($380-390 mln vs $405.7 mln in Q2). It was a big relief to investors -- and us -- to see billings jump 63% yr/yr to $440.4 mln in Q3. That means billings grew sequentially, and billings growth was higher than sales growth (63% vs 53.5%) which we always like to see. That's good news for coming quarters. * AND TO TOP IT ALL OFF, DOCU guided to Q4 (Jan) billings of $512-522 mln, a big sequential improvement. Whatever concerns caused DOCU to issue cautious billings guidance last quarter seem to havedisappeared.
* Other positive metrics that stand out to us are international revenue growth, which jumped 77% yr/yr in Q3 and hit the 20% of total revenue milestone. Expanding beyond the US is a key goal for DOCU and that seems to be going well. Another key metric was non-GAAP operating margin nearly doubling to 13% in Q3 from 7% a year ago. It's a good example of the operating leverage DOCU's model brings to the table as revenue gains scale. The last few quarters have shown that COVID-19 has accelerated the digital transformation of key business and agreement creation processes. DOCU estimates that COVID-19 has caused companies to accelerate their digital transformation efforts by two, three, four years or more. These customers see that remote work can be even more productive and that digital agreement processes are fast becoming business as usual. And, yes, the pandemic will end, but when customers go from paper-based processes to digital agreement processes, they donot go back.
09:59
MRVL MARVELL NOT SO MARVELOUS TODAY AS SUPPLY CHAIN CONCERNS SINK SHARES (43.61 -1.91) The semiconductor space has been red-hot, as reflected in the 20% surge in the Philadelphia Semiconductor Index over the past month. Robust demand from data center customers, a sharp recovery from auto OEMs, and an accelerating roll-out of 5G technology have fueled strong results from companies like MICRON (MU), QUALCOMM (QCOM), NVIDIA (NVDA), MICROCHIP (MCHP), and NXP SEMI (NXPI). This bullish sentiment spread to MARVELL (MRVL), heightening expectations ahead of last night's 3Q21 earnings report. MRVL's report was solid as its results and 4Q21 guidance met analysts' EPS and revenue forecasts. The issue, though, is that an upside report was likely factored in based on the stock's ~25% run since earlyNovember.
Beyond the lofty expectations, MRVL also disclosed that supply chain issues are preventing it from fully meeting the strengthening demand. During the earnings call, CEO Matt Murphy commented that the rapid recovery in the semiconductor industry is applying stress on portions of the supply chain. Prior to the pandemic, production capacity in the semiconductor industry was already limited due to a soft 2019. When the virus struck, factories shut down, sending the supply chain into disarray. Now, semiconductor demand is very healthy, but chip producers are having a tough time accessing the needed components. MRVL is not the only semiconductor company to express these concerns. NVDA mentioned this issue during its Q3 earnings call, and this summer BROADCOM (AVGO) and INTEL (INTC) also acknowledged the supply chain headwinds. However, with factories reopened across China and Asia, the hope was that the worst of these issues were behind the industry. MRVL's commentary indicates that supply chain bottlenecks are stillprevalent.
The unpredictable nature of the supply chain could explain why MRVL's Q4 revenue guidance was so wide. For the quarter, the company is projecting revenue of $745.75-$824.50 mln vs. the $786.4 mln consensusestimate.
At the high end of the range, MRVL would generate healthy yr/yr growth of 15%. The catalysts are in place for MRVL to achieve that level ofgrowth:
* MRVL's networking business (~50% of revenue) grew by 35% yr/yr in Q3 with strength in the 5G, cloud, automotive, and enterprise end markets. The company anticipates healthy demand from these areas moving forward, underscored by building momentum in 5G. * Murphy noted that the rollout of 5G in markets outside China is picking up pace and that demand for 5G services is expanding following the launch of new 5G phones from APPLE (AAPL). * On October 29, MRVL announced its intention to acquire INPHI (IPHI) for $10 bln. In Q3, IPHI reported revenue growth of 92%, fueled by its strong presence in the cloud market. * The combination will bolster MRVL's cloud positioning, potentially adding multiple $100+ mln cloud customers. The bottom line is that business conditions are quite healthy for MRVL and for the semiconductor industry in general. In fact, the recovery has been so rapid and steep that the unsettled supply chain can't keep up with demand. So far, semiconductor companies' financial results haven't been severely impacted, but if the supply chain disruptions persist, a more urgent threat to the industry may emerge.09:28
BLUEX BLUE CHIP TRADER - - PRE-MKT FRIDAYNOTES
* Not expecting much out of today's action given the market's slowdown in momentum these last few days along YTD highs. Maybe some downside to undercut some lows and shake out "weak-handed" longs, alleviate some "overbought" sentiment indicators a little, but still expect the dips to get bought. * Expect EV space to remain volatile for some potential day-trades. Airlines, Energy, and Big Tech also on my radar to trade.09:25
SCALP SCALPTRADER MORNING NOTES * Pretty quiet pre-mkt, so going to use the morning note to catch up on our Income/Yield holdings. * Note that this update excludes the approx. 10 REIT positions still held in the Swing Portfolio, which are all up dramatically from entry. * Instead, the focus is on the PREFERRED/BOND PORTFOLIO: * TWOPRC: Entry $17.48; current price $21.73...currently sitting on 24% gain... yield is 10.35% from entry & 8.3% at current price... distribution will remain fixed until Jan 2025, at which time it will trade at 3-month LIBOR + 5.00%... I put fair value in $23-24.00 area. * NGLSPRA: Entry $6.60; current price $25.00... recently sold remainder of position for a 280% gain after it was announced that the security would be redeemed. * DCPPRB: Entry $4.13; current price $22.28... currently 439% in the money on position... yield is 47.7% from entry and 8.8% at current price... distribution will remain fixed until June 2023, at which time will trade at 3-month LIBOR +4.9%... I put fair value in the $25.00par area.
* MFO: Entry $12:01; current price $25.18... currently 108% gain on position... yield is 16.6% from entry and 7.94% at current price.. payment remains fixed through April 2042 maturity on this Senior Note... I put fair value in the $26.00 area. * ANHPRB: Entry 12:12; current price $24.00... currently 98% in the money on position... yield is 12.9% from entry and 6.5% at current price.. this is a convertible preferred that has already traded past its initial call date... would move stop up to the $21.00 area onposition.
* BPYPO: Entry $8.79; current price $24.16... currently 175% gain on the position... yield is 18% from entry and 6.6% at current price... payment remains fixed through the life of the security... I think these shares are trading at fair value currently and I would consider locking in profits on part of the position and raising stop. It's really a question of capital gains vs ongoing collection of an 18%dividend.
09:12
CALLS NOTABLE RESEARCH CALLS FOR FRIDAY,DECEMBER 4
* ALLEGHENY TECH (ATI) UPGRADED TO BUY FROM HOLD AT THE BENCHMARK COMPANY (TGT $21); UPGRADED TO EQUAL WEIGHT FROM UNDERWEIGHT ATBARCLAYS (TGT $16)
* CRACKER BARREL (CBRL) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT TELSEY ADVISORY GROUP; TGT $165 * MICHAELS STORES (MIK) UPGRADED TO EQUAL-WEIGHT FROM UNDERWEIGHT AT MORGAN STANLEY; TGT RAISED TO $13 * SPIRIT AEROSYSTEMS (SPR) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS; TGT $47 * WESTROCK (WRK) UPGRADED TO BUY FROM HOLD AT ARGUS; TGT $47 * WEYERHAEUSER (WY) UPGRADED TO OUTPERFORM FROM MKT PERFORM AT RAYMOND JAMES; TGT $34 * BOEING (BA) DOWNGRADED TO UNDERPERFORM FROM PEER PERFORM AT WOLFERESEARCH
* DELTA AIR LINES (DAL) DOWNGRADED TO UNDERPERFORM FROM PEER PERFORMAT WOLFE RESEARCH
* OLLIE'S BARGAIN OUTLET (OLLI) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS; TGT LOWERED TO $95 * SPIRIT AEROSYSTEMS (SPR) DOWNGRADED TO PEER PERFORM FROM OUTPERFORMAT WOLFE RESEARCH
* STITCH FIX (SFIX) DOWNGRADED TO SELL FROM NEUTRAL AT MKM PARTNERS * UNITED AIRLINES (UAL) DOWNGRADED TO UNDERPERFORM FROM PEER PERFORMAT WOLFE RESEARCH
* AFLAC (AFL) INITIATED WITH A SELL AT GOLDMAN SACHS; TGT $43 * CARVANA (CVNA) INITIATED WITH A BUY AT JEFFERIES; TGT $300 * FORTIVE (FTV) INITIATED WITH A BUY AT UBS; TGT $83 * PRUDENTIAL (PRU) INITIATED WITH A BUY AT GOLDMAN SACHS; TGT $88 * ZEBRA TECH (ZBRA) INITIATED WITH A BUY AT UBS; TGT $43009:06
ECONX NOVEMBER SEES NOTABLE SLOWDOWN INHIRING ACTIVITY
The November employment report was mixed, as disappointing nonfarm payrolls growth was offset somewhat by higher than expected average hourly earnings growth and a lower than expected unemployment rate. The clear slowdown in hiring activity, though, is what jumps out -- that and the rising rate of long-term unemployed workers, who accounted for 36.9% of the unemployed in November versus 32.5% in October. Permanent job losers increased to 3.743 million from 3.684million in October.
THE SLOWDOWN IN HIRING AND THE INCREASE IN PERMANENT JOB LOSERS ARE KEY TAKEAWAYS FROM THE REPORT FOR THE MARKET, WHICH IS APT TO INFER THAT CONGRESS WILL SEE THOSE TRENDS AS A BASIS FOR AGREEING TO MORE STIMULUS TO PRE-EMPT A BENEFITS CLIFF ON DECEMBER 31. * November nonfarm payrolls increased by 245,000 (Briefing.com consensus 650,000). The 3-month average for total nonfarm payrolls fell to 522,000 from 938,000 in October. * October nonfarm payrolls revised to 610,000 from 638,000. * September nonfarm payrolls revised to 711,000 from 672,000. * November private sector payrolls increased by 344,000 (Briefing.comconsensus 450,000).
* October private sector payrolls revised to 877,000 from 906,000. * September private sector payrolls revised to 930,000 from 892,000. * November unemployment rate was 6.7% (Briefing.com consensus 6.9%), versus 6.9% in October. * Persons unemployed for 27 weeks or more accounted for 36.9% of the unemployed versus 32.5% in October. * The U6 unemployment rate, which accounts for unemployed and underemployed workers, was 12.0%, versus 12.1% in October. * November average hourly earnings increased 0.3% (Briefing.com consensus 0.1%) versus 0.1% in October. Over the last 12 months, average hourly earnings have risen 4.4%, unchanged from the 12 monthsending in October.
* The average workweek in November was 34.8 hours (Briefing.com consensus 34.8), versus 34.8 hours in October. * Manufacturing workweek decreased 0.2 hours to 40.3 hours. * Factory overtime decreased 0.1 hour to 3.1 hours. * The labor force participation rate decreased to 61.5% from 61.7% inOctober.
* The employment-population ratio slipped to 57.3% from 57.4% inOctober.
07:54
SCANX GAPPING DOWN
Gapping down
In reaction to earnings/guidance: * OLLI -11.5%, YEXT -9.5%, MRVL -4.2%, ULTA -3.6%, SAIC -2.6%, COO -1.4%, MDLA -1.1%, BIG -1.1%OTHER NEWS:
* CEMI -13.6% (received Response Letter from Food and DrugAdministration)
* LI -6.9% (prices underwritten follow-on offering of 47,000,000 American depositary shares at $29.00 per ADS) * AXTI -3% (completes ramp of its gallium arsenide substrate shipments for OSRAM) * AIR -2.4% (AIR and FTAI ink deal to provide CFM56 engine material to aviation aftermarket) * CMBM -2.1% (prices secondary public offering of 2,500,000 ordinary shares by selling shareholders at $28.00 per share) * EA -0.7% (says two execs to leave BioWare unit) * RCL -0.7% (filed a prospectus supplement for $1bln "at-the-market" equity offering program)* Premium Services
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