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Daily Reports @ WJR

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WJR March 2018 Reports

  March 29, 2018 The stock market vertigo continued yesterday, with the Dow trading in a roughly 400 point range before finishing pretty much unchanged. There’s some thought that today’s action will be a little more calm as a fair number of traders will play hooky this afternoon to stretch the upcoming three day weekend to three and a half days or more. There won’t be any trading in U.S. stocks and bonds tomorrow, and that means that the remainder of the week’s economic reports will get scrunched into today. In addition to the traditional Thursday jobless Claims Report, we’ll get the March Chicago Purchasing Managers Index, and a report on February Personal Income and Spending. Expect that income rose four-tenths of a percent and spending rose two-tenths. Perhaps more importantly, in this age of the Federal Reserve’s interest rate campaign, the PCE Deflator, which is the inflation index most closely watched by...
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WJR February 2018 Reports

     February 23, 2018 It should be a relatively quiet day for economic news and earnings reports. But then, a lack of any significant news hasn’t prevented stocks from making significant moves this week. We will get speeches from four Federal Reserve Bank Presidents, but until Chairman Powell goes to Washington next week, those speeches may not make much matter. The text of Powell’s prepared remarks will be release later this morning. HP Enterprises earnings release last night does matter. The shares are about 13 percent higher this morning, as the company beat expectations for earnings, announced a dividend increase a share buyback program and raised full year guidance. Not to be outdone, shares of natural pet food maker Blue Buffalo are almost 17 percent higher. General Mills likes what it sees and will pay 40 dollars per share to acquire Blue Buffalo. That’s an 8 billion dollar deal. The yield on the 10-year Treasury has...
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WJR January 2018 Reports

      January 31, 2018 - Ron is away today.  He'll be back soon.January 30, 2018 Yesterday, stocks took their worst downdraft since September.   That is until today of course. Rising interest rates appear to be giving traders an excuse to recognize some of the massive gains they’ve realized in the recent rally. Shares of Met Life are making for a sad Snoopy this morning. Late yesterday, Met Life said that their earnings report will be delayed. The words “weak internal control” were used, and you know that that’s not good. Traders are shooting first and aiming later, as Met Life shares are down about 6½ percent. Health care stocks are having a rough morning. JP Morgan, Berkshire Hathaway and Amazon are considering a not-for-profit company to lower health care costs for the average American. This could become a real game changer is a space that could use some game-changing. Pfizer reported profit of 62 cents,...
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WJR December 2017 Reports

   Ron is taking a Holiday break.  He'll be back January 3rd.  Happy Holidays!  December 22, 2017 It should be a relatively quiet day of trade as a lot of folks may try to stretch their Holiday weekend by a half day or so. Nevertheless, some companies’ shares could see some interesting action. Trading in the shares of a small company called Agile Therapeutics were halted pre-market for news pending. The company develops contraceptive products. The news is now out, as the FDA has told the company that their contraceptive patch can’t be brought to market in its current form. Drug makers Merck and Pfizer received good news from the FDA regarding their new diabetes fighting drug. If you’re wondering how nutty all this bitcoin related stuff has gotten, look no further than a little beverage company called the Long Island Iced Tea company. We all understand what a Long Island Iced Tea is....
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WJR November 2017 Reports

     November 30, 2017 It’s no secret that a lot of retailers have been having trouble adjusting business models to meet more innovative competition lately. One of those innovative competitors just keeps on growing. Costco reported overall sales up 13 percent on the month and same store sales up a rather amazing 7.9 percent. Costco shares are higher by more than 2 percent this morning. While another retailer’s shares are 30 percent higher in pre-market trade this morning, it’s for dramatically different reasons. Sears reported a loss of $5.19 per share as same store sales declined more than 15 percent. Sears and Kmart have managed to keep about 1,100 stores open, as opposed to 1,500 a year ago. But, believe it or not, Sears shares are about 30 percent higher at $5.45. Accompanying the report were comments about the willingness to “maximize value” of certain corporate assets. Sounds like the mother of all blue-light specials isn’t far away....
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WJR October 2017 Reports

October 31, 2017 - Ron's away today.  He'll be back Wednesday.  Happy Halloween!October 30, 2017 The last hyper-busy week of third quarter earnings reports is here, and will include reports from Facebook, Apple and Tesla. We’ll also get a full load of economic surveys, October Car Sales, the monthly Jobs Report and a Federal Reserve Open Market committee meeting. Before all that unfolds, it looks like we have a full-on Merger Monday on our hands. Home builder Lennar is buying competitor CalAtlantic for what amounts to $51.34 per share in a 9 billion-dollar deal. CalAtlantic shares are higher by about 19 percent. Strayer Education and Capella Education are merging, and there’s a deal cooking in the energy space as well. Dynegy shareholders will get an 18 percent premium in the form of cash and stock of Vista Energy. That has Dynegy shares higher by about 12 percent this morning. European Bank HSBC reported a five-fold pre-tax...
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WJR September 2017 Reports

  Ron is away today.  He'll be back soon. Have a great day! September 26, 2017 Four more speeches from Federal Reserve officials are on the agenda today, including a 12:45 speech from Janet Yellen in Cleveland. Interestingly, Minneapolis Fed head Neel Kashkari opined yesterday that the economy is in no danger of overheating and there is no need for an immediate hike in short term interest rates. In the hit-a-home-run-or-strike-out world of biotech, a firm called Axovant Sciences had a pretty good batting average going into today. Through yesterday, its shares had risen 95 percent this year. Unfortunately, we hear this morning that the company’s late stage treatment to combat Alzheimer’s disease struck out swinging and Axovant shares are lower by about 70 percent pre-market. Lot of housing news on the way today, including the August New Home Sales report and the July Home Prices Report. Expect that prices have risen almost 6...
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WJR August 2017 Reports

August 31, 2017 It’s the last trading day of the month, and it will be a day rich with economic data as traders try to divine the direction of the economy. If yesterday’s ADP Employment Report is any indicator, things are looking up. According to the big payroll processing firm, 237,000 new jobs were created during the month. That exceeded expectations by almost 30 percent. The official word on new jobs comes from the Labor Department tomorrow. This morning, while the Challenger Job Cut Report told us that layoff announcements rose to almost 34,000 in July, the biggest increase in job losses come in construction. But given the disasters in Texas and Louisiana this past week, those layoffs may get rescinded before they result in actual job losses. Reports on Personal Income and Spending come at 8:30 and are expected to reveal a four-tenths of a percent jump in personal income and only a one-tenth...
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WJR July 2017 Reports

July 31, 2017 Tell me if you’ve heard this one before – The Dow Jones Industrials closed the last session at an all-time high, and it looks as if we’ll tack on more gains when the market opens at 9:30. With earnings season about half over for the S&P 500 companies, 79 percent of those reporting have come in with better than expected profits which is much higher than average, and the average outperformance is more than 7 percent. That’s almost double the long-term average. Sales have exceeded expectations 73 percent of the time, which is the best quarter on that score in ten years. The next potentially market moving report comes tomorrow from Apple. It’s not much of a “merger Monday” but one deal has been announced. Discovery Communications is buying Scripps Networks for 90 bucks per share. That widely rumored deal is worth 14.6 billion dollars. And one deal apparently won’t happen as...
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WJR June 2017 Reports

Have a Great July 4th weekend!  Ron will return July 5th.June 30, 2017 Stock prices took an end-of-the-quarter trip to the tropics yesterday, with the NASDQ 100 losing about 2 percent. The futures are positive this morning, but as we saw yesterday – it’s not how you start – it’s how you finish. Shares of Nike are should start almost 6 percent higher today. Nike reported 60 cents of profit for the quarter, which was a dime better than expected. Micron Technology also beat their bogey by a dime, reporting $1.62 of profit. Micron also raised guidance for the rest of the quarter, and their shares are about 3 ½ percent higher. The 4thof July notwithstanding, fireworks are about to begin at Hain Celestial. And activist investor firm has taken a 9.9 percent stake in the company and will no doubt look to shake things up. Hain shares are looking to open about 8½ percent...
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