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WJR June 2020 Reports

Thank you for reading my daily ceoments as featured on WJR AM 760.  My June 26th report below with be my final report on WJR (at least for a long while.)  Next week, my staff and I will be joining a leading Registered Investment Advisory firm.  Although my WJR Reports must end, we will still be in Southfield, serving clients with more resources than ever.  Please check back on Wednesday for more details.  Best of luck to all with their financial futures.  If you need us for anything, please call me at (248) 352-2211 extension 5. Stay safe! Ron Humenny June 26, 2020 Paul, I am honored and humbled to have been a member of your WJR team since 1996, when you came on as the full-time morning host.  We’ve been through several severe market pullbacks, and a couple of actual crashes that rattled everyone’s nerves, and some furious rallies....
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WJR May 2019 Reports

May 29, 2020 The global pandemic has caused a lot of economic distress to a large number of companies, but it has also supercharged the sales of some others.  Consider the discount retailers. Yesterday we heard positive news from Dollar Tree.  This morning, Big Lots blew away estimates, reporting adjusted income of $1.26 last quarter, versus the estimated 40 cents.  Although the second quarter is expected to slow, Big Lots estimated 73 cents of profit, well ahead of the 24-cent estimate.  Shares are looking to open about 13 percent higher. William-Sonoma shares are higher by 8 percent on strong online sales for home goods. Last night, Costco reported $1.89 of adjusted earnings, 4 cents better than expected.  Traders may have been expecting an even better beat as shares are looking about two percent lower this morning. Markets around the world are holding their breath as we await the Administration’s official...
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WJR April 2020 Reports

April 30, 2020 Some promising news on a trial of Remdesivir to treat Covid-19 sent stock prices roaring higher yesterday.  Today we’ll get off to a much less positive start for the broad market, although large-cap tech stocks continue to roll higher. Last night, Microsoft beat even pre-coronavirus estimates by reporting over 10 billion dollars in profit last quarter.  Tesla’s earnings of $1.24 per share were much better than the estimated 36 cent loss.  Facebook shares are also charging higher this morning, even though results came in short of expectations. If there was a takeaway from the Federal Reserve Open Market Committee’s Report yesterday, it’s that the printing press will run at full speed until the economy stabilizes, and although there’s still a lot we don’t know about the virus, we’ve known for many years that in investing, it’s hard to fight the Fed. Weekly Jobless Claims, the Personal Income...
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WJR March 2020 Reports

March 31, 2020 The stock algorithms keep trying to figure out when the economy might get back to something resembling normalcy.  As you just discussed with Bill Ford, Ford Motor announced that there is no set date to return to car production.  April 6th had been the re-start date, but the actual re-start date will now be data-dependent. More data our of New York regarding Covid-19 appears to show how effective social and physical distancing can be.  New hospital admissions in Manhattan, which has been pretty much locked down, are increasing at a much slower rate than predicted. Package and processed foods produced Conagra reported adjusted fiscal third quarter profit of 46 cents, which was two cents less than expected.  However, it sees a surge in retail sales as people worldwide stuff their freezers and pantries.  Conagra now sees full year profits well above the $2.07 estimate.  Shares are bid...
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WJR February 2020 Reports

February 28, 2020 I wish that we had some good coronavirus news this morning, but fear of what we know and fear of what we don’t know will likely drive stock prices lower for the seventh day in a row. Many analysts now expect that the Federal Reserve will cut interest rates as early as March, which has traditionally backstopped a slide in equity prices.  Although its not clear exactly how lower interest rates will stop a potential pandemic.  The silver lining, if you’re buying a home, is that the 10-year Treasury is now at 1.21 percent, which would be a factor in driving mortgage rates even lower than their current rock-bottom level. Deutsche Bank slashed their price estimates by over 40 percent for a couple of cruise lines this morning. A couple of disappointing earnings reports are driving shares of Wayfair and VMware lower.  Wayfair reported a much bigger...
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WJR January 2020 Reports

January 24, 2020 So far, the World Health Organization hasn’t labeled the coronavirus as a “global emergency.”  However, given the spread of the virus, a change in that position will likely put a shiver into stock prices.  In the meantime, it looks like rally fever will rule the early markets. Leading that charge will be shares of chip-maker Intel.  Shares are looking to open almost 5 percent higher.  Intel says that they expect quarterly earnings to come in at about $1.30 per share, which would be 26 cents better than expected as cloud computing growth continues to accelerate. American Express reported $2.03 in adjusted quarterly profit, which was 2 cents better than expected on better than expected revenue.  Amex shares are indicated about 2½ percent higher. On the downside this morning, Discover Financial shares are could lose almost 7 percent at the open on larger than expected charge-offs. A similar...
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WJR December 2019 Reports

Ron is taking a Holiday Break.  He will return to the air January 6, 2020.  Merry Christmas and Happy New Year to all!  Let's have a great 2020! December 20, 2019 The late-year melt-up in stock prices continues this morning even though Santa Claus has yet to board his sleigh. This morning we’re getting early Christmas presents from a couple of companies, while others are leaving us with a lump of coal. And speaking of lumps of coal, with pun intended, yesterday U.S. Steel announced an adjusted quarterly loss of $1.15 per share, which was 53 cents per share worse than expected. They cut their dividend by 80 percent, stopped buying back stock, and could cut as many as 1,500 jobs dur to a plant closure.  U.S. Steel stock is indicated about 8 percent lower this morning. Also on the naughty list are shares of Carmax.  Sales last quarter were...
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WJR November 2019 Reports

Have a great Thankgiving Weekend!  Ron will return to the air on December 2nd! November 26, 2019 All three major domestic stock indexes closed at record highs once again last night.  So far this morning, it appears that stock prices may pause to catch their figurative breath.  In the meantime, they’ll have a fresh batch of earnings and a couple of economic reports to review as we jam 5 days of market news into a 3½ day week. Two days before the big parade down Woodward, we have Best Buy leading a parade of earnings reports this morning.  Shrugging off a feared downdraft from tariffs, $1.13 of adjusted profit at Best Buy was 10 cents better than expected. Best Buy shares are indicated about 4 percent higher. Not to be outdone, Dick’s Sporting Goods reported 52 cents per share, 14 cents better than expected. Third quarter same store sales were...
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WJR October 2019 Reports

October 31, 2019 The S&P 500 closed at a record level yesterday after the Federal Reserve meticulously followed the widely anticipated script.  They cut short term rates be a quarter of a percent but apparently brought this easing cycle to an end, or at least paused until early 2020 at the earliest.  At 9:30 this morning we’ll get the latest the PCE.  That’s the personal consumption expenditure index and it’s reportedly the Fed’s favorite inflation indicator.  Any big uptick in future inflation may convince the Fed that the next necessary step might be a rate increase. Expect that today’s reading will reflect only a one-tenth of one percent increase. Shares of Fiat Chrysler are looking to open more than 3 percent higher on word of their 50/50 merger with the parent of Peugeot.  In European trade Peugeot shares are more than 13 percent lower. Shares of Apple, Facebook and Kraft-Heinz...
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WJR September 2019 Reports

September 30, 2019 It’s the last day of the third quarter.  For all the recent volatility, the S&P 500, including dividends, is about one percent higher than its level of June 30th.  Not doing quite as well recently is the price of bitcoin, down 34 percent over the last three months including a drop of 20 percent just last week. Another company has joined the long list of retailers operating while bankrupt.  Forever 21 has filed for Chapter 11 protection and will close almost 200 of their 800 stores as mall-based retailers continue to lose sales to online rivals. Another hard-luck story (maybe a hard-boiled story) this morning is the earnings report from Cal-Maine Foods.  A 30 percent drop in egg prices resulted in a 94 cent per share loss, nine cents worse than expected.  Cal-Maine stock is more than 5 percent lower pre-market. The Institute of Supply Management releases...
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Starfire Investment Advisers, Inc.
3000 Town Center Suite 2235
Southfield, MI 48075-1191

Phone: 248-352-2211 x 223
Fax: 248-352-4535
Email: ronh@starfireinvest.com