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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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WJR July 2018 Reports

July 31, 2018 Overnight, the Bank of Japan decided that no major changes were necessary in their super-low-interest rate policy, as they continue to try to stoke some semblance of price inflation.  Tomorrow, we’ll find out what the chieftains of our Federal Reserve say.  There will be no presser after the decision is announced tomorrow, and the Fed usually moves rates only at meetings that include a post-announcement press conference.  Accordingly, the smart money says “no move tomorrow, but the September meeting looks like a lock for higher rates. The Bank of England will chime in on Thursday. A couple of big earnings announcements are having little impact on their respective stock prices pre-market.  Pfizer reported 81 cents per share in profit, seven cents better than expected.  They raised earnings but lowered the sales outlook.  Procter& Gamble’s 94 cents of profit was a 4 cent beat, but sales missed. Pfizer...
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WJR June 2018 Reports

  June 29, 2018It’s the last trading day of the second calendar quarter of the year. While stock futures are indicating a strong start for stock prices, a lot of the gain in the large-cap indexes this morning come thanks to Nike’s earnings report from late yesterday.Nike checked in with a 69 cent per share profit, 5 cents better than expected. They also announced a 15 billion dollar share buyback program which they expected to complete by the end of next year. Nike shares are indicated more than 10 percent higher on the news. Novartis shares are also higher after announcing a stock buyback and a spin-off of their Alcon eyecare business. The famous other hand belongs to Constellation Brands. $2.20 of profit missed expectations by 24 cents and Constellation shares are looking almost 5 percent weaker.Yesterday’s GDP inflation number came in a little hot, at a 2.2 percent rise....
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WJR May 2018 Reports

 May 31, 2018Big news from General Motors this morning. A GM investment of over a billion dollars and a 2¼ billion-dollar investment from Softbank Vision Fund will fund GM subsidiary GM Cruise Holdings as they plan to bring autonomous vehicles to market by 2019 – which is like, next year. Softbank gets ownership of just a little less than 20 percent of GM Cruise Holdings. General Motors shares are more than 10 percent higher pre-market.Just as the Italian political crisis seems to be easing, all eyes will be on the White House today for the likely imposition of steel and aluminum tariffs. The problem is that tariffs we impose will likely lead to complementary tariffs out of the European Union among others. Yes, it’s all part of a grand negotiation, but until the negotiations are settled, traders will remain unsettled.The famous other hand belongs to Dollar General. Shares are more...
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WJR April 2018 Reports

    April 30, 2018 Three corporate mergers officially qualifies today as a “merger Monday.” In the timeshare industry, Marriott Vacations is buying ILG for 4.7 billion dollars. The big merger drama in telecom land may be over. T-Mobil has agreed to buy Sprint in a 26-billion-dollar deal. Sprint shares are down 12 percent on the news. Now the deal goes to the regulators and getting approval there is no slam dunk. In an even bigger deal at 35 billion dollars, Marathon Petroleum is buying refiner and pipeline operator Andeavor. The price there is a 24 percent premium to Andeavor’s closing price on Friday. The economic calendar is crowded today. At 8:30, March personal spending and income are expected to each be four-tenths of a percent higher. A slowdown in  Also at 8:30, the Fed’s favorite indication of inflation, the PCE deflator, is expected to be higher by only one-tenth of a percent. Anything much higher will bolster...
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Daily Reports @ WJR




















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