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Daily Reports @ WJR

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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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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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Daily Reports @ WJR





















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