CyberArk Software Ltd. (CYBR), a global software-based IT security solutions yesterday reported their preliminary second quarter 2017 financial results. CyberArk reported that they expect second quarter revenues to be in between $57 to $57.5 million which is down from previous guidance of $61 to $62 million. CyberArk Software Ltd. CEO’s Comments “We are disappointed that our results for the second quarter will be below the guidance we provided in May,” said Udi Mokady, CyberArk Chairman and CEO. “The primary reason for our revenue shortfall was our performance in EMEA, where certain deals that we anticipated would close did n...
Out of the Darvas Box – just barely though Okay, so we have been here before. This almost-two month long box that the S&P 500 has been trading in has been broken for only the second time, yesterday. The last time it broke was on June 19th, and the following day resulted in a huge sell-off. The bulls really have to avoid this scenario at all costs. The best case scenario would be a rally in the range of 15-20 points which would also establish new all-time highs in the process. That wouldn’t be a bad gig at all, and in the process it would provide some clarity and direction for traders going forward. What you don’t want...
This “amateur cyclist’s” chart (I am anything but a cycles analyst) of the S&P 500 shows that the 12 month marker (C12) meant exactly nothing as the market remained firmly on trend, after brief pokes down in April and May. We noted that C12 was a lesser indicator than the 30 month cycle, which has coincided with some pretty significant changes (+/- a few months). That cycle (C30) is coming due at the end of the summer. Will it mean anything? Well, this market eats top callers for breakfast, lunch, dinner and midnight snacks. But it is worth knowing about to a lucid and well-armed market participant. Here is the S&P 500 from...
PPG Industries (PPG) is a Dividend Aristocrat. It has increased its dividend for 44 years in a row, which is certainly an impressive feat. That said, there may be a better Dividend Aristocrat to buy, and it happens to be one of PPG’s biggest competitors. Sherwin-Williams (SHW) has 38 consecutive years of dividend increases under its belt. PPG has a higher dividend yield than Sherwin-Williams right now, but Sherwin-Williams has stronger growth potential going forward. This article will discuss why Sherwin-Williams is the better Dividend Aristocrat, in a matchup of two giants of the paint and coatings industry. Business Overview Winner: Sherw...
Top Pick of the Day: FMI Foundation Medicine Inc. (Nasdaq: FMI) announced inking a new deal with Kura Oncology for supporting enrollment in its its Phase 2 clinical trial evaluating farnesylation inhibitor tipifarnib in patients with treatment-resistant HRAS-mutant squamous cell carcinoma of the head and neck (SCCHN). Under the terms of the collaboration, Foundation Medicine’s SmartTrials Precision Enrollment program will contact physicians treating individuals across the U.S. diagnosed with SCCHN whose tumors harbor HRAS mutations as detected in the course of routine clinical care. The company stock gained over 1 percent in its past tradin...
Ok, well the biggest econ print of the week is in and it’s a miss. You can read the full breakdown here, but suffice to say the CPI disappointment is another blow to the Fed’s “transitory” narrative and if this trend doesn’t turn around soon, they’ll need to come right out and admit that they are going to simply ignore inflation in the interest of hiking to curb excessively loose financial conditions. The market reaction was of course swift and predictably, the dollar is diving… … and Treasurys are rallying… …with 10Y yields now back to where they were after Yellen’s prepared remarks were first released on Wednesday mor...
The Bureau of Labor Statistics released the June Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 1.63%, down from 1.87% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 1.70%, down from the previous month’s 1.73%. Here is the introduction from the BLS summary, which leads with the seasonally adjusted monthly data: The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 1.6 percent. The energy index...
Rising interest rates and loan growth drove JPMorgan Chase & Co.’s (JPM – Free Report) second-quarter 2017 earnings of $1.82 per share, which easily surpassed the Zacks Consensus Estimate of $1.57. Also, the figure reflects a 17% rise from the year-ago period. Notably, the results included a legal benefit of $406 million. Solid loan growth and higher interest rates supported net interest income. Further, investment banking fees recorded a rise. Apart from these, results were supported by a fall in provision for credit losses, mainly driven by reserve releases in the Oil & Gas loan portfolio. As expected, fixed income and eq...
The latest economic data came out this morning, and it indicates that, in spite of the Fed’s best efforts, inflation just is not kicking in. CPI fell for the fourth month in a row, and the US dollar has continued doing what it’s been doing the entirety of 2017, which is sink. In turn, precious metals are getting a hearty bid (which will probably blow me right out of my DUST position at the opening bell). For gold bulls to reclaim power, they’ll need to close the gap I’ve pointed out below and push above it. Otherwise, this is just going to be another opportunity for the bears to take advantage of precious metals weakness, more or less...
Platinum is one of the rarest elements in the world, much rarer than gold. This is why historically the white metal has been more valuable – just think of platinum credit cards which offer greater privileges and prestige than the gold ones. However, the ‘little silver’ has recently been traded at a discount to gold, as one can see in the chart below. Chart 1: The platinum-to-gold ratio (the price of platinum divided by the price of gold, red line, right axis), the price of gold (yellow line, left axis, London P.M. Fix, weekly average), and the price of platinum (blue line, left axis, London P.M. Fix, weekly average) from April 1990 to...