Stock market reports

Share to Twitter Share to Linkedin Topline The stock market rebounded for a second day in a row on Thursday, on track to snap a seven-week losing streak, as recession fears cooled amid a slew of strong quarterly earnings reports that boosted investor sentiment. Key Facts Stocks moved higher as investors continued to assess the minutes from the Federal Reserve’s latest policy meeting: The Dow Jones Industrial Average rose 1.6%, over 500 points, while the S&P 500 gained 2% and the Nasdaq Composite 2.7%. Despite seven straight weeks of losses pushing the S&P 500 briefly into bear market territory last Friday, stocks are on track to post a strong rebound this week: The Dow and S&P 500 are up over 4% and the Nasdaq more than 3%. “Last week’s doom and gloom about the all-important U.S. consumer may have been overdone, along with the dire recession headlines,” says Quincy Krosby, chief equity strategist for LPL Financial, about the … [Read more...] about Dow Jumps 500 Points, Market Rebounds As Strong Earnings Alleviate ‘Dire Recession Headlines’

Share to Twitter Share to Linkedin Topline The retail sector has been hard-hit by a selloff in recent weeks amid warnings from major companies that surging inflation has impacted profits, and despite a rebound on Wednesday, experts predict further challenges ahead as consumer spending becomes increasingly hard to predict. Key Facts Retail and consumer stocks rebounded thanks to reports that Kohl’s is preparing to receive competing takeover offers from several bidders, according to Reuters; meanwhile, investors are finding a glimmer of hope in Nordstrom’s strong first-quarter revenue and news that it raised its full-year sales outlook. Despite the retail sector getting “decimated” throughout earnings season, both positive headlines helped “spur buying for the first time in weeks,” says Vital Knowledge founder Adam Crisafulli, who points to the trading activity around Dick’s Sporting Goods—shares of which fell roughly 10% before turning positive … [Read more...] about Retail Stocks Rebound But ‘Feast-Or-Famine Environment’ May Persist Amid Shift In Consumer Spending, Experts Warn

Share to Twitter Share to Linkedin I remain a big fan of cash right now. I know, I know. I’m not supposed to say this in a stock -focused column like this. “But Brett,” I can hear the rebuttal. “We’ve been smartly selling the rips . My cash is burning a hole in my pocket.” “And I’m here for the income. Shouldn’t I buy something ?” Not yet. We contrarians shouldn’t be in a hurry to time the bottom of the market. There will be free and fast money on the other side of this bearish storm. Every correction eventually ends. For now, we buy lightly. And enjoy our comfortable seat. This is what I call the “no beta” portfolio. It’s a pile of cash that we deploy when we “back up the truck” at major market bottoms. In the spring of 2020 , we went on a dividend shopping spree. We bought stocks like energy toll bridge ONE ONE ONEO NEO OK (OKE) for a song—and we’re now sitting on 148% gains. Later that year, we identified … [Read more...] about The Best Dividend Stocks, Bull Or Bear

Key Takeaways Analysts estimate adjusted EPS of RMB 6.11 ($0.92) vs. RMB 10.31 in Q4 FY 2021. Revenue is expected to rise, but at a markedly slower pace compared to recent quarters. Alibaba's growth is decelerating sharply amid the Chinese government's tech crackdown and its Covid Zero policy. Alibaba Group Holding Ltd. ( BABA ), China's giant e-commerce and cloud computing company, has seen its earnings and revenue performance weaken significantly over the past year. That deterioration is expected to continue, at least in the short term. Alibaba is being hurt by the economic fallout of China's Covid Zero policy, and by Beijing's broad crackdown on big tech companies. These developments have set back Alibaba's ambition to reach Amazon-like success in China. Investors will be watching to see if Alibaba is able to prevent a further deterioration of its financial performance when it reports earnings on May 26, 2022 for Q4 FY 2022. Alibaba's 2022 fiscal year ( FY … [Read more...] about Alibaba Q4 FY2022 Earnings Report Preview: What to Look For

Key Takeaways Analysts estimate adjusted earnings per share (EPS) of -$0.01 vs. -$0.09 in the second quarter of fiscal year (Q2 FY) 2021. The number of average daily active users is expected to rise year over year (YOY). Revenue is expected to rise at the fastest pace in at least 14 quarters, continuing its strong momentum amid last year’s boom in online traffic during the COVID-19 pandemic. Snap Inc. ( SNAP ), parent company of the Snapchat app, has been feeding off of momentum set off by the increase in online traffic last year, as people sheltered at home amid the COVID-19 pandemic. While digital ad spending initially took a hit in the early stages of the pandemic, it bounced back in the latter half of 2020. Rising ad spending, Snap’s primary revenue source , helped it to finally post a small profit in recent quarters after years of losses. Investors will focus on whether Snap has been able to build on that performance when the company reports earnings after … [Read more...] about Snap Q2 FY 2021 Earnings Report Preview: What to Look For

Major Moves Trading was aimless during today's session as economic and earnings data came in below expectations. While there was plenty of bad news, some of the media's hand-wringing was a great example of post-hoc rationalization. This was particularly true in the energy sector. Each Wednesday, the Energy Information Administration (EIA) releases a report of oil inventories held by commercial firms in the U.S. Like most weekly reports, the data can be very "noisy," with wide swings from week to week. In a bullish oil market, we would like to see inventories fall because purchases and shipping are picking up. The weekly oil inventory report swung back hard today to show an increase of 7.1 million barrels versus a decrease of 8.6 million barrels last week. When the two data points are added together, we see a small net decrease over the past two weeks that is more likely to be an accurate reflection of the market. Most traders expected today's news after inventories were … [Read more...] about Resistance Firms Ahead of Labor Report

Pfizer Inc. ( PFE ) reported better-then-expected earnings on April 30, and shares of the pharmaceutical giant responded with an upside move. However, the stock is under a " death cross " on its daily chart and still trades under a negative weekly chart. Pfizer is a component of the Dow Jones Industrial Average and is one of the eight members of the " Dogs of the Dow " for 2019. The company has a P/E ratio of 13.19 with a dividend yield of 3.55%, according to Macrotrends. Pfizer shares closed Wednesday, May 1, at $40.77, down 14.1% year to date and up 18.6% from the low of $34.37 posted on May 4, 2018. The stock is in correction territory at 12.3% below its Dec. 4 high of $46.47. The daily chart for Pfizer The daily chart for Pfizer shows that a "death cross" was confirmed on April 22, when the 50-day simple moving average fell below the 200-day simple moving average, indicating that lower prices lie ahead. Under this warning, the strategy is to sell strength to … [Read more...] about Pfizer Stock Rebounds Under Cloud of Negative Charts

Merck & Co., Inc. ( MRK ) reported better-then-expected earnings on April 30, and the stock responded with an upside move. This rebound was helped by a "golden cross" on its daily chart, while the weekly chart is neutral. Merck is a component of the Dow Jones Industrial Average and was a member of the " Dogs of the Dow " in 2018. The company did not qualify in 2019, as it has a P/E ratio of 17.45 with a dividend yield of 2.79%, according to Macrotrends. To qualify as a member of the dog pound, the dividend must be above 3.00%. Merck stock closed Wednesday, May 1, at $78.72, up 3.00% year to date and up by a bull market 39.9% from its low of $56.26 posted on May 9, 2018. The stock is 6.1% below its high of $83.85 set on April 1, 2019. The daily chart for Merck The daily chart for Merck shows that a "golden cross" has been in play since June 12, when the 50-day simple moving average rose above the 200-day simple moving average, indicating that higher prices lie … [Read more...] about Merck Stock Bounces Back Thanks to a ‘Golden Cross’

Key Takeaways Analysts estimate adjusted EPS of RMB14.42 ($2.23) vs. RMB14.82 in Q1 FY 2021. Annual active consumers in China are expected to rise YOY. Revenue is expected to rise amid the Chinese government's crackdown on big tech. Alibaba Group Holding Ltd. ( BABA ) has not gone unscathed by the broad selloff in Chinese technology stocks. The sector shed hundreds of billions of dollars in market value in July amid a campaign by the Chinese government to rein in the power and influence of the country's tech giants. As part of the big tech crackdown, Alibaba was slapped with a fine worth $2.8 billion earlier this year for abusing its dominance over rivals and vendors on its e-commerce platforms. Investors will get a chance to focus on Alibaba's recent financial performance when it reports its Q1 FY 2022 earnings on August 3, 2021—the company's fiscal year ( FY ) ends in March. Analysts expect adjusted EPS to decline for the first time in at least four … [Read more...] about Alibaba Q1 FY 2022 Earnings Report Preview: What to Look For

Key Takeaways Analysts estimate EPS of $3.04 vs. $2.75 in Q3 FY 2021. Comparable sales are expected to rise YOY, but at a slower pace than recent quarters. Revenue is expected to rise as demand remains strong. Costco Wholesale Corp. ( COST ) has been enjoying its fastest earnings, revenue, and comparable sales growth in recent years. The company got a big boost from increased spending on food and goods by consumers sheltering at home during the pandemic. Now, Costco's business model is poised to benefit from the highest inflation in decades as consumers increasingly seek out the lowest-priced goods. While Costco's growth has been slowing, it's notable that the company's revenue is still climbing faster than before the pandemic. Investors will be watching to see if Costco can maintain its strong financial performance when the company reports earnings on May 26, 2022 for Q3 FY 2022. Costco's 2021 fiscal year ( FY ) ended August 29, 2021. Analysts expect … [Read more...] about Costco Q3 FY2022 Earnings Report Preview: What to Look For