The Mother Of All Breakouts Still In Play
Short-Term View The NYSE Composite stock index traded near the bottom of the orange box shown below in 2013 and 2016. The index visited the top of the box in 2014, 2015, and again in late 2016, before breaking out. A successful retest of the breakout occurred earlier in 2017. Fractals Are Key Since markets […]
FANG Stocks Suffer Longest Losing Streak Since Election As Earnings Hopes Slide
The so-called FANG group of stocks (FB, AMZN, NFLX, GOOGL) fell for the fifth day yesterday – the longest losing streak since right after the election. Worst 5-day drop in almost 4 months, sliding back to 3-week lows… NFLX is the biggest loser in the last 5 days (down 5%) and while TSLA is not in […]
Lilly (LLY) Beats On Q3 Earnings, Explores Sale Of Elanco
Eli Lilly and Company (LLY – Free Report) reported third-quarter 2017 adjusted earnings per share of $1.05, which beat the Zacks Consensus Estimate of $1.03 per share by 1.9%. Earnings rose 19% from the year-ago quarter backed by volume driven pharma sales growth and higher operating profits. Revenues Beat Quarterly revenues of $5.66 billion also beat the Zacks […]
Broadridge Financial Solutions: A High Quality But Often-Overlooked Dividend Growth Stock
Sometimes, the most boring, under-the-radar businesses prove to be the best long-term investments, and Broadridge Financial could be one of them. In fact, Broadridge was called “the most important firm on Wall Street that you’ve never heard of” by Dick Grasso, the former CEO and chairman of the New York Stock Exchange. Paying higher dividends […]
Morning Call For Tuesday, Oct. 24
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ17 +0.13%) this morning are up +0.10% and European stocks are up +0.19% on signs that the global economic expansion will continue after European manufacturing activity this month unexpectedly accelerated. The German 10-year bund yield rose to a 2-week high of 0.476% and EUR/USD strengthened after the Eurozone Oct […]
Fear Has Left The Building
Although the S&P 500 finished the session with the biggest decline in nearly two months, the fact that the venerable index didn’t fall 3% yesterday meant a new record for the longest period of time without a 3% correction in the stock market. According to Ryan Detrick, Monday marked the 242nd trading day without a […]
Trump May Reappoint Yellen As Fed Chair After All
Candidate Donald Trump was none too kind to current Federal Reserve Chair Janet Yellen during his 2016 campaign. However, the President’s tone with regards to Yellen and Fed policy has been softening since his election. Trump met one on one with Yellen and other top contenders last week and now appears quite open to the […]
Richmond Fed Manufacturing: Activity Remains Positive In October
Today the Richmond Fed Manufacturing Composite Index was at 12 for the month of October, down from last month’s 19. Investing.com had forecast 17. Because of the highly volatile nature of this index, we include a 3-month moving average to facilitate the identification of trends, now at 15.0, which indicates expansion. The complete data series behind today’s […]
Graphic Packaging Forms Partnership With IP’s Consumer Packaging Unit
Graphic Packaging (GPK) said it will create a $6B paper-based packaging company by forming a new partnership comprised of Graphic Packaging’s existing businesses and International Paper’s (IP) North America Consumer Packaging business. Graphic Packaging will own 79.5% of the partnership and will be the sole operator. International Paper will own 20.5% of the partnership, equivalent […]
Billion Dollar Unicorns: Atlassian Hits A New High
Photo Credit: Dmitry Baranovskiy/Flickr.com In December 2015, legitimate Billion Dollar Unicorn and collaboration software maker Atlassian (NASDAQ: TEAM) had a successful IPO that valued it at $5.8 billion, and today its stock is trading in the public market at almost double that valuation. Atlassian’s Financials In its most recent first quarter results, Atlassian had a strong quarter beating analyst […]
