Pigs Break Out With Yields
It is too early to call it a confirmed breakout, but the Bank index has popped above cyclical bull market highs. Weekly MACD and RSI both look good. The monthly chart shows that BKX has been consolidating above a long-term support area for the better part of 2 years. I had thought the BKX had […]
Is The Stock Market’s 5-Year Return A Useful Proxy For Valuation?
Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg article. The story, published earlier this week, offered the provocative title: “Nobel Winner’s Math Is Showing S&P 500 Unhinged From Reality.” Oh, my, that sounds serious. Or maybe not. As several observers have pointed out (see here, here, and here, for instance), […]
Thursday’s Pre-Market Insights:BLUE, BBY, CRM, RIG
bluebird bio. Inc. (NASDAQ:BLUE) ares increased 3.8% to $179 in pre-market trading after the company announced it will be presenting data on LentiGlobin, a pipeline product, at the 20th Congress of European Hematology Association on June 13. LentiGlobin is a therapy for a rare blood disorder, beta thalassemia. Best Buy Co., Inc. (NYSE:BBY) shares increased 10.12% […]
The Fairway Group Long Swing Trade Thesis – Earnings Play/Short Cover
The Fairway Group (FWM) is set to report earnings after the bell on May 26th, 2015. Immediately before the last earnings report, the stock made a nice run up and continued to run to over $7, before being re shorted down to its current level of about $4.90. The last earnings were reported on Feb. […]
NetApp Falls On Q4 Earnings & Revenue Miss; Outlook Tepid
Shares of NetApp Inc. (NTAP – Analyst Report) went down 8.1% in after-hours trading yesterday, after the company posted dismal fourth-quarter fiscal 2015 results. Also, a tepid first quarter fiscal 2016 guidance impacted the share price. The company reported adjusted earnings (including stock-based compensation but excluding amortization and other one-time items) of 47 cents, which missed the Zacks Consensus […]
Busy U.K. Shoppers Lift Sterling, Spurs Profit-Taking After Dollar Bounce
The US Dollar Index advanced in the first three days of the week but is under some pressure today. The FOMC minutes confirmed what the market had already known, which is a rate hike next month is highly unlikely. Meanwhile outside of the UK’s strong retail sales report, most of the data today has disappointed. These include […]
Salesforce Gains On Q1 Earnings And Revenue Beat
Shares of salesforce.com Inc. (CRM – Analyst Report) gained more than 6% in after-hour trade yesterday following strong first-quarter fiscal 2016 results and upbeat fiscal year guidance issued by the company. The company’s adjusted earnings (including stock-based compensation but excluding all one-time items on a proportionate tax basis) of 2 cents per share came ahead of the Zacks Consensus […]
China Manufacturing PMI Contracts Third Month, Output Index At 13 Month Low
The slowdown in China continues as the HBSC Flash PMI shows Output contracts at strongest rate in just over a year. Key Points Flash China Manufacturing PMI™ at 49.1 in May (48.9 in April). Two-month high. Flash China Manufacturing Output Index at 48.4 in May (50.0 in April). 13-month low. Commenting on the Flash China Manufacturing PMI […]
Portugal’s “Left-Wing” Forces Threaten Troika Revolt
As we discussed on Wednesday, Europe — and now at least one ratings agency — is doing its very best to trigger a terminal bank run in Greece and thereby deal the final, destabilizing blow to the country’s radical socialist saviors (Syriza) who, in the event the ATMs go dark or depositors end up Cyprus’d, would be […]
