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Daily Reports @ WJR

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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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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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Daily Reports @ WJR





















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