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Archives by Year:
Leadership Since 2009 Lows Testing Strong Support, Says Joe Friday
Few if any sectors have been stronger than Semiconductors over the past 9-years. The table below highlights that SMH almost doubled the performance of the S&P 500 since the 2009 lows. Softness this year has SMH testing rising support and this year’s lows at (1) above. Joe Friday Just The Facts– This leading sector is facing a […]
Netflix Upgraded To Buy From Neutral At Citi
Citi analyst Mark May upgraded Netflix (NFLX) to Buy from Neutral with an unchanged price target of $375. The streaming service closed yesterday down $4.79 to $321.10. The valuation, following this week’s selloff, has reached a level that warrants an “opportunistic” upgrade to Buy, May tells investors in a research note. Netflix has a highly […]
E Markets: Almost
We are almost at the weekend. We almost have headlines for a EU/UK Brexit deal. We almost have a deal between US and Turkey over Pastor Brunson. We almost are sure that the US won’t list China a currency manipulator and so trigger more sanctions/tariffs. We almost have a convincing calm back in equities after a week-long rout. The phrase “almost” […]
The Underestimators
The International Energy Agency (IEA), famous for underestimating demand, is at it again, lowering their oil demand forecast for this year and next. This comes as oil starts to rebound after a surprise build in crude supply and a panicked stock market set prices tumbling yesterday. Yet, while the crude oil supply increase in the […]
Flip Flop Friday – Bank Earnings Boost Confidence
Don’t be fooled by weak bounces. The Dow may be up 370 points at the open and that seems like a lot but we closed near 25,000 and, as noted in yesterday’s PSW Report, we were expecting a bounce off 25,175 back to 25,450 just to complete a WEAK bounce off the 5% correction (which we also […]
PNC Financial’s Q3 Earnings & Revenues Beat Estimates
Have you been eager to see how The PNC Financial Services Group, Inc. (PNC – Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Pennsylvania-based money center bank’s earnings release this morning: An Earnings Beat PNC Financial came out with earnings per share of $2.82, easily beating the […]
Rail Week Ending Saturday, October 6: Growth Rate Slowing On Economically Intuitive Movements
Week 40 of 2018 shows same week total rail traffic (from same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. Analyst Opinion of the Rail Data Rail continues to have relatively good growth – and the overall rate of growth in 2018 has been fairly stable. We review this data […]
Snap Upgraded To Buy From Hold At Pivotal Research
Pivotal Research analyst Brian Wieser upgraded Snap (SNAP) to Buy from Hold while lowering his price target for the shares to $8 from $9. The stock closed yesterday up 22c to $6.81. The analyst says that despite declining usage and liquidity, the data he looks at is showing a “widening user base, although one which […]
Wells Just Reported The Worst Mortgage Number Since The Financial Crisis
When we reported Wells Fargo’s Q1 earnings back in April, we drew readers’ attention to one specific line of business, the one we dubbed the bank’s “bread and butter“, namely mortgage lending, and which as we then reported was “the biggest alarm” because “as a result of rising rates, Wells’ residential mortgage applications and pipelines both […]
Tax Loss Opportunities In Emerging Market Portfolios
After a phenomenal 2017, the last eight months have been painful for emerging market (EM) investors. The initial leg lower coincided with a general spike in volatility in February. Since then, we’ve seen declines from January levels of almost 15% for a broad EM equity index, 20% for broad China benchmarks, 13% for EM local currency debt and close […]
