March 2018 -

E Market Briefing For Monday, April 2 – And Happy Easter

Mar 31, 2018 Jeremy Parkinson Finance 0

Happy Easter & Passover to all! It’s been a ‘Monster Bull’ since I said ‘if Trump wins it’s going to the moon’; not interstellar space. For now that’s the point. Next week I will address several new topics of potential influence: among those are Japan’s decision to make ALL pension managers for the State ‘performance’ […]

GBP/USD Forecast Apr. 2-6: Losing Its Shine

Mar 31, 2018 Jeremy Parkinson Finance 0

GBP/USD made a move to the upside but eventually ended the week lower. Where next? The first week of April features the all-important purchasing managers’ indices. Here are the key events and an updated technical analysis for GBP/USD. UK GDP was confirmed at 0.4% q/q and 1.4% y/y. While this was no surprise, the numbers are […]

Estimating Domino’s Pizza Free Cash Flow And Intrinsic Value

Mar 31, 2018 Jeremy Parkinson Finance 0

With the stock up 21.5% over the last three months, investors may be tempted to sell their shares of Domino’s Pizza, Inc. (NYSE: DPZ). In this article, I am going to calculate the fair value of Domino’s Pizza by forecasting its future cash flows and discounting them back to today’s value. Value investors may find the results […]

Coca-Cola Tells Shareholders To Reject TRC Capital’s Mini-Tender Offer

Mar 31, 2018 Jeremy Parkinson Finance 0

Coca-Cola said it has learned of an unsolicited mini-tender offer by TRC Capital for the purchase of up to 2.5M shares at $41.50 per share. The stock closed yesterday up 10c to $43.33. “Coca-Cola does not endorse TRC Capital’s offer. The Company recommends that shareholders reject the offer and not tender their shares in response […]

What Lies Ahead For Telecom ETFs?

Mar 31, 2018 Jeremy Parkinson Finance 0

U.S. telecommunications industry had a disappointing 2017. However, signs of improvement were apparent from fourth-quarter 2017 with most of the major telecommunications stocks starting to perform well. Notably, all four national wireless carriers have gained postpaid subscribers in the last reported quarter. Upcoming 5G Wireless Network Fifth-generation (5G) superfast wireless networks will provide primary impetus […]

‘Nervous Reactions Will Be More Frequent’: Lessons From 2018’s Two Selloffs

Mar 31, 2018 Jeremy Parkinson Finance 0

In the foreword to their Q2 outlook, Barclays describes a phone call with an “exasperated” client who in late January was desperate to buy a dip that wouldn’t come. How, he wondered, does one buy the dip if stocks only keep rising? Well, “one” doesn’t. Rather, “one” is relegated to buying on any momentary, fleeting weakness or, […]

In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars

Mar 31, 2018 Jeremy Parkinson Finance 0

Just days after Beijing officially launched Yuan-denominated crude oil futures (Beijing officially launched , as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took the next major step in the challenging the Dollar’s supremacy as global reserve currency (and internationalizing the […]

USD/CAD Forecast April 2-6 – CAD Climb Down

Mar 31, 2018 Jeremy Parkinson Finance 0

Dollar/CAD turned around once again and it seems that the comeback of the Canadian dollar is over. The upcoming week features the all-important jobs report and a few other figures. Here are the highlights and an updated technical analysis for USD/CAD. Canada’s GDP shrank in January 2018, the first monthly drop in a year. This came […]

China Macro And Copper

Mar 31, 2018 Jeremy Parkinson Finance 0

After the very weak result in February (largely a result of Chinese New Year holiday distortions – albeit consistent with our view that growth slows this year), the March results showed a stark, and somewhat predictable rebound. Certainly at the very least the results show that China’s economy is largely stable if not a little […]

Another Event Study: Hogs

Mar 31, 2018 Jeremy Parkinson Finance 0

Source: ino.com. Section 232 measures were announced to be announced on 7 March, Section 301 measures on 22 March. China’s retaliation was announced on 23 March. Figure 2 depicts the evolution of hog prices: Figure 1: Pork prices (net farm value, cents per pound) (blue), 29 March futures for June (blue square) (2017M01 cents per pound) (red). Real […]