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Daily Reports @ WJR

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WJR May 2019 Reports

May 20, 2019 - Ron's away today.  He'll return tomorrow! May 17, 2019 We’re looking at a fairly significant pullback after yesterday’s rather significant rally as traders try to figure out what the rest of the year will bring. It’s not looking to bring good things for companies that supply stuff to Chinese telecom firm Huawei after the U.S. effectively blacklisted Huawei yesterday. A rather murky outlook for server semiconductor chips has shares of Nvidia slightly lower this morning even after a better than expected earnings report.  The famous other hand belongs to shares of Pinterest.  Pinterest shares have only publicly traded for about a month, but those shares are indicated about 16 percent lower pre-market.  Although revenue was higher than expected, a quarterly adjusted loss of 32 cents per share was almost three times larger than the expected loss. Luckin Coffee, the Chinese answer to Starbucks, comes public today...
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WJR April 2019 Reports

April 30, 2019 Someone once said that the stock market is like marriage – the secret to success is sufficiently low expectations.  Now, I didn’t say that, but someone did. True or not for marriage, those are words that stock prices rely on this week.  Earnings estimates for the first quarter had been lowered so much, more than 80 percent of all S&P companies are meeting or beating them.  Perhaps more importantly, however, is that while earnings aren’t higher than last year, a much rumored “earnings recession” just isn’t happening. This morning, Merck, McDonald’s, Mastercard, Pfizer, Ingersoll-Rand and ConocoPhillips are all out with better than expected earnings and revenue numbers.  General Electric shares are 10 percent higher after reporting 14 cents per share of adjusted earnings, which was a nickel better than the average estimate. Beating on earnings but missing on sales are Eaton, Eli Lilly and General Motors.  Apple...
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WJR March 2019 Reports

March 29, 2019 For anyone who gets their kicks out of buying volatile and unpredictable shares of stock, today may be your day.  Lyft, a company that lost over 900 million dollars last year on sales of 2.2 billion and self-admittedly may NEVER make any money, comes public today after pricing shares at 72 dollars apiece.  Could be we’re looking at another Amazon, which had a similar profit story many years ago.  Or, it could be another Snap, which has dipped to about 11 bucks, down from 27 after its IPO last year.  Be careful out there, folks. It’s the last trading day of the quarter, and we do have one earnings warning this morning.  DowDupont, which is about to split into three separate companies, warned that the current quarter will be a little bumpy. Blackberry reported 11 cents of adjusted profit this morning, which was almost double the expected...
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WJR February 2019 Reports

February 28, 2019 Predicting the next recession has become a popular parlor game for market prognosticators.  Of course, a recession is normally described as two consecutive quarters of negative Gross Domestic Product.  At 8:30, we’ll get the delayed first read on 1st quarter 2019 GDP.  However, nobody expects a negative number.  Expect something in the rage of a 1.8 to 2.5 percent increase. J.C. Penney announced earnings of 18 cents per share this morning, which was 8 cents better than expected on better than expected sales.  That has Penney shares up more than 20 percent pre-market.  That’s the good news.  The bad news is that the shares are still only trading around a buck and a half each – the literal definition of a “penny stock.” Horizon Pharmaceuticals shares are more than 20 percent higher on a positive drug test. We’ll find out about how things are going in the...
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WJR January 2019 Reports

January 31, 2019 Yesterday, we were hoping to not hear any bitter words out of the mouth of Fed Chairman Jerome Powell.  We didn’t expect that the words would be coated in sugar, honey and whipped cream with a cherry on top. The Fed, which put interest rate increases “on auto-pilot” not long ago, officially disengaged the auto-pilot yesterday for fear that the economy might nose-dive at too fast of a rate.  And since rising stock prices are a function of solid earnings and low interest rates, stock prices wasted no time in soaring off the runway. Today we’ll get earnings reports from 37 members of the S&P 500.  Earnings guidance for 2019 has cooled off to an expected increase of only about 6 percent on average after a double digit rise last year.  Blame a coordinated slowdown in international economies.  Should we get some good news regarding trade, that...
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WJR December 2018 Reports

Ron is taking a Holiday break.  He will return in January.  Here's to a great 2019!   December 21, 2018 The stock market hates uncertainty.  Currently, we’re uncertain as to how high interest rates are headed, we’re uncertain how severe an apparent global economic slowdown will be and now we’re uncertain whether much of the Federal Government will be functioning past midnight.  In the U.K., they’re not even certain if they can get a flight out of Gatwick Airport. Seems like the only thing we’re certain about is that people continue to spend a lot of money on sneakers.  Last night Nike reported 50 cents of adjusted quarterly profit, which was 4 cents better than expected, and Nike shares are looking to open about 8 percent higher. The famous other hand belongs to Carmax, with shares about 8 percent lower pre-market.  Earnings were better than expected but used car sales...
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WJR November 2018 Reports

November 30, 2018 This weekend’s G-20 meeting in Argentina will be more than just a little three-day weekend for world leaders.  Traders will watch closely for ANY kind of cooperation between Presidents Trump and Xi regarding trade.  Any substantive breakthrough, which seems unlikely, would likely trigger a big relief rally in stocks.  However, some sort of progress may be enough to soothe the market vertigo we’ve been seeing since September. Experiencing some turbulence in the pre-market, shares of Gamestop are at a 10% discount.  Last quarter’s 67 cent per share profit was a dime better than expected, but current quarter guidance was weak, as sales are forecast to drop between 2 and 6 percent. The famous other hand belongs to image processing producer Ambarella.  21 cents of profit more than doubled the 9-cent estimate, but Ambarella raised guidance and the shares are almost 15 percent higher.  Shares of Marriott are...
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WJR October 2018 Reports

October 31, 2018 - Ron's awway today.  See you tomorrow! BOO! October 30, 2018 Yesterday gave us another wild ride in stock prices, especially in the dollar-weighted Dow Jones Industrials.  A big down day in Boeing shares was responsible for 163 points of the Dow’s 245-point loss on the day.  However, it’s not just Boeing shares that are in the dumps.  As we start the day, about two-thirds of the S&P 500 are trading below their 200-day moving average. What’s been a good quarter of earnings reports is being overshadowed by worries about the trade spat with China.  Nevertheless, those earnings reports continued to be generally positive this morning.  Mondelez shares are almost 3 percent higher on an earnings beat.  Akamai reported 94 cents versus the expected 83, and those shares are about 10 percent higher.  Coca Cola beat the 55-cent estimate by 3 cents. On the famous other hand,...
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WJR September 2018 Reports

September 26, 2018 The Federal Reserve will wrap up another two-day tea party this afternoon with another quarter-point hike on short-term interest rates. While another quarter point hike is widely expected come December, traders will focus on Chairman Powell’s 2:30 press conference for any hints regarding 2019 interest rate policy. Profit expectations were surpassed last quarter at Nike. 67 cents per share came in a nickel better than expected and a dime better than last year. However, marketing expenses rose more than expected and Nike shares are looking to open about 2 percent lower. Cintas shares are lower this morning, also due to rising costs. KB Homes shares are higher by about 7 percent. 87 cents in quarterly profit compares to the 77-cent estimate and 51 cents a year ago. In another bit of good news for housing, mortgage applications were up almost 3 percent last week as the average rate for a 30-year...
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WJR August 2018 Reports

August 30, 2018 Hopefully, we’ll have some good news regarding NAFTA by tomorrow, and not much news about it afterward. Intense talks are reportedly underway in Washington with the goal of having Canada on board with NAFTA 2.0 by tomorrow, in time for the outgoing Mexican President to sign off on a deal.   Campbell Soup is looking for a deal this morning, looking to sell its international unit and its refrigerated foods unit. Combined, they represent about 20 percent of Campbell’s sales. Campbell has been under pressure by activist investors to sell the entire company.   Signet Jewelers isn’t selling itself but is apparently moving a lot of jewelry. Shares are 13 percent higher pre-market on word of 52 cents per hares of quarterly profit, crushing the 20-cent estimate.   The retail loser of the morning may be Michael’s Stores. Shares are off 7 percent. Earnings were okay last...
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