Category Archive: Finance
Global Value Chains And Productivity
Production processes have become more likely to cross international borders, thus creating what are called “global value chains” or “global supply chains.” Chiara Criscuolo and Jonathan Timmis discuss “The Chiara Criscuolo and Jonathan Timmis discuss “The” in the Spring 2017 issue of International Productivity Monitor (vol. 32, pp. 61-83). I’ll start here with a few facts, and then […]
AUD: Valuation Getting Stretched; What’s Next? – NAB
The Australian dollar made a big break, taking advantage of the hawkish RBA minutes. Has it gone too far? Here is their view, courtesy of eFXnews: NAB FX Strategy Research notes that AUD/USD spent much of the March-June period significantly undervalued relative to NAB’s Short Term Fair Value model (STFV), before spending all of July above […]
Euro Break-Out, Pound Break-Down, And The Dollar Drops Again
While this week does contain the potential for some fireworks, few were probably expecting matters to develop so quickly ahead of the European Central Bank rate decision on Thursday. Starting at about 9PM ET yesterday, EUR/USD began to breakout to the upside, again, and the move hasn’t yet stopped. This breakout has cleared above the […]
Johnson & Johnson And Harley-Davidson, Inc. Q2 Earnings Reports
The Johnson & Johnson (JNJ) Q2:F17 and Harley-Davidson (HOG) Q2:F17 earnings reports were released before opening bell this morning. Johnson & Johnson posted adjusted earnings of $1.83 per share on $18.8 billion in sales, compared to the consensus estimates of $1.79 per share and $18.95 billion in revenue. In last year’s second quarter, the company […]
USD/CAD’s Performance At The Start Of Previous BOC Rate Hike Cycles Points To More Downside
Last week’s price action in the Canadian dollar marked a major “sea change” for the currency. Whereas the loonie had previously been lumped in with the other commodity dollars struggling to recover from the big downdraft in the price of hard goods, last Wednesday’s rate hike from the Bank of Canada injected new life into […]
Bear Of The Day: O’Reilly Automotive
O’Reilly Automotive (ORLY) is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the US, serving both professional service providers and do-it-yourself customers. Founded in 1957, the company IPO’d in April 1993. As of March 31, 2017, they operated 4,888 stores in 47 states. Shares Plunge After Weak Sales […]
The Stock Whisper Of The Day: BAC, ERIC, DIA, TGT, NLY, HOG
Hot stocks of the day: BAC, ERIC, DIA, TGT, NLY, HOG Video length: 00:04:46
Krona Slides Most In Two Months As Riksbank Minutes Add To Central Bank Confusion
So, the Riksbank. That’s the folks in Sweden. You know, the people Paul Krugman called “sadomonetarists” in a truly cartoonish 2014 blog post. Those would be the same “sadomonetarists” who abandoned their sadomonetaristic tendencies to follow Mario Draghi down the accommodative policy, ZIRP-to-NIRP, QE rabbit hole in order to ensure the krona didn’t soar in the face […]
AMD Downgraded To Underweight From Equal Weight At Barclays
Barclays analyst Blayne Curtis downgraded AMD (AMD) to Underweight with an unchanged price target of $9. The chipmaker closed yesterday down 12c to $13.80. The analyst is “unconvinced” that AMD products will gain enough traction to support the current valuation. He also has difficulty “getting anywhere near” the company’s long-term earnings per share target of […]
Oil Cracks
Oil prices are trying to recover on a weak dollar after selling off yesterday on the August oil future contract expiration. Also on a prediction by the Energy Information Administration (EIA) that US oil production would rise by 113,000 barrels a day to 5.585 million barrels a day in August from July, even as they […]
