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Daily Reports @ WJR

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WJR May 2017 Reports

  May 31, 2017 The conventional wisdom about the stock market says “sell in May and go away.” Well, here we are at the last trading day on May, and it looks as though that wisdom is conventional, but not particularly smart, as the S&P 500 is more than one percent higher since April 30th. Granted, over the past 25 years, June has been the second-to-worst month for stock prices. However, for summer as a whole over the past 25 years, stock prices average a decline of only one-tenth of one percent in the June through September period. Doing somewhat worse than break-even this morning are shares of high-end retailer Michael Kors. Kors made 73 cents per share, 3 cents better than expected if you adjust for the stuff you wish hadn’t happened. Under full GAAP accounting, Kors lost 17 cents per share, compared with the quarterly profit of 98 cents a year ago. Forward...
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WJR April 2017 Reports

  April 28, 2017 A bunch of amazing earnings reports came from the technology sector last night. But, first things first – General Motors shares are almost 2 percent higher pre-market this morning as GM delivered their eighth consecutive quarter of better-than-expected profits. $1.72 of operating profit was 24 cents better than expected. Sales also exceeded estimates as trucks and high-end vehicles keep rolling off the lots. Apparently, a lot of them are rolling on Goodyear Tires. Goodyear beat the 63-cent estimate by 11 cents per share. ExxonMobil also beat estimates. Last night, Amazon – remember them? The company that NEVER showed a profit? Anyway, Amazon reported $1.48 of profit, which was 36 cents better than expected as Amazon Cloud Services continues to drive sales. Not to be outdone, Alphabet (the company formerly known as Google) reported an increase in profit of almost 30 percent. $7.73 of profit handily beat the $7.38 cent estimate. Shares of both Amazon...
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WJR March 2017 Reports

March 31, 2017 It’s the last day of the first quarter of the year and it’s been another good one for stock prices. The S&P 500 Index is almost 6 percent higher since the end of 2016, not even counting the dividends those companies pay. The Dow Jones Industrials are likely to finish about 5 percent higher. Unless we lose all those gains today, which is highly unlikely, we’ll have seen six quarters in a row of increasing prices. That hasn’t happened in more than ten years. The price of a share of Blackberry stock is increasing this morning, although the company is worth only a fraction of its value before Apple’s iphone came along. Nevertheless, Blackberry reported 4 cents of operating profit for last quarter. They had been expected to breakeven. Blackberry shares are gaining about 6½ percent pre-market. Data on personal income and expenditures, the Chicago Purchasing Managers Index and the...
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WJR February 2017 Reports

February 28, 2017 The spotlight hasn’t moved very far from the White House during the past 5 weeks, and tonight it will follow President Trump up to Capitol Hill for a little chat with a joint session of Congress. Military spending, infrastructure spending, healthcare reform, tax reform – it may be a good day for an afternoon nap just to make sure we’re aware enough to listen in starting at 9 o’clock tonight. Target shareholders are ready to go back to bed right now and pretend that last quarter’s earnings report was just a bad dream. Sales were light, earnings of $1.45 were 6 cents short and 2017 earnings guidance went from the Street estimate of $5.34 all the way down to 4 bucks. Target share are looking to open about 11 percent lower this morning. The December Case-Shiller Home Price Index comes this morning and is expected to show a seven-tenths...
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WJR January 2017 Reports

January 31, 2017 It’s been four years since we’ve seen the Dow Jones Industrial Average turn in a positive performance in January. We’ll go into the last day of the month hanging on to about a one percent gain, which may or may not last until 4 o’clock. If you missed the day the Dow rose above 20,000 – well you’ll likely get another chance. It looks like we’ll start the day right around 19,920. Corporate earnings reports have been trending to about a 7 percent year-over-year increase, but we’re hitting some bumps in the road today. The biggest bump, or maybe we should call it a sinkhole came, from Under Armour. Those shares are about 24 percent pre-market after they hit the trifecta this morning: an earnings miss, a sales miss and lowered guidance. Harley Davidson, Eli Lilly, Exxon Mobil and Pfizer all missed earnings targets today. UPS reported $1.63 per share. That missed a 6 cent...
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WJR December 2016 Reports

<div><span > <div><span > <div><br></div><span > <div><span > <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <div><strong>December 22, 2016</strong></div> <p><span > <p><span > <p><span > <p><span > <div><strong>December 21, 2016</strong></div> <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <div><strong>December 20, 2016</strong></div> <div> <div>&nbsp;</div><span > <p><span > <p><span > <p><span > <div><span > <div>&nbsp;</div><span > <div><strong>December 19, 2016</strong></div> <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <div><strong>December 16, 2016</strong></div> <p><span > <p><span > <p><span > <p><span > <p><span > <div><strong>December 15, 2016</strong></div> <p><span > <p><span > <p><span > <p><span > <p><span > <div><strong>December 14, 2016</strong></div> <p><span > <p><span > <p><span > <p><span > <p><span > <div><strong>December 13, 2016</strong></div> <div> <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <p><span > <div><span > <div>&nbsp;</div><strong>December 9, 2016</strong></div> <p><span > <p><span > <p><span...
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WJR November 2016 Reports

November 30, 2016 Welcome to the last trading day of November, and it may be a pretty good one for you is your portfolio is dripping with oil related stocks. Optimism about a production limiting agreement among OPEC members has the price of oil up almost 7 percent and the price of most oil-related stocks higher pre-market.  By the way, for November so far, the Dow Industrials are more than 5 percent higher, the S&P 500 is up almost 4 percent, and the small-cap Russell 2000 is up over 11 percent. Also focused on a higher price are shares of GoPro. Now, understand that the price of Go Pro shares has been nearly cut in half this year. But this morning, they’re looking about 4 percent higher on word that about 15 percent of GoPro workers will be wearing their cameras on the Unemployment Line soon. We’ll get the Fed’s Beige Book survey...
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WJR October 2016 Reports

  October 31, 2016 As we mentioned last Friday, we’re in a five or six day stretch of trading days that is historically the best stretch of the year for stock prices. Although the futures are pointing us higher this morning, things could get very bumpy due to the new FBI email investigation. It’s apparent that we have a stock market that has become convinced, if not comfortable of an upcoming Clinton victory, and we all know how the stock markets hates uncertainty and surprises. This isn’t a big surprise, but Level 3 Communications shares are more than 8 percent higher pre-market after confirming that Century Link will buy the company for what equates to about 66 dollars per share. That’s a 23 percent premium to what Level 3 shares went for less than a week ago. In another deal widely rumored last week, General Electric will merge its oil and gas operations with Baker Hughes....
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WJR September 2016 Reports

September 30, 2016 Rule number one – if you drive costs lower, you’re likely to drive profits higher. That’s the case with Costco this morning. $1.77 per share of profit beat estimates by four cents. Although personnel costs were higher due to pay raises to their workers, the switch from American Express credit cards to VISA cards lowered costs enough to give rise to the earnings surprise. Costco shares, which have not had a banner year, are about 2 percent higher pre-market. The Deutsche Bank turmoil continues to upset traders around the world. Many remember the failure of Lehman Brothers as the tipping point of the 2008 bear market. However, while history may be rhyming here – it’s not likely to be repeating. There are huge differences in the two situations. Personal Income and Spending numbers are on the way this morning as well as the University of Michigan’s final verdict on the September mood of the...
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WJR August 2016 Reports

August 31, 2016 As we slide into the last few days before Labor Day, trading volume should continue to fade as many traders will give summer an extended goodbye from the beach rather than the office. However, for better or worse, and usually worse, nothing seems to keep Federal Reserve Regional Presidents off the rubber chicken circuit. Neel Kashkari is giving a speech right now, while Charles Evans threatens to disrupt the status quo at 3:30 this afternoon. Two other Fed heads spoke in China last night. One suggested that low rates will be here for a long while. The other suggested it was time to hike rates. Go figure. Bob Evans reported better than expected results. Palo Alto Networks and H&R Block are both out with disappointing reports. The ADP Employment Report, a survey of their 400,000 business clients comes in 5 minutes and is expected to estimate that 175,000 new jobs were born in...
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