The machines have achieved their short-term goal (getting the S&P above its 50-day moving average), next is getting green for the month. Once again, the US market open triggered a panic-buying bid under mega-cap US Tech stocks…...
Two research firms disagreed on the financial impact of Amazon’s (AMZN) acquisition of Whole Foods (WFM). Jefferies responded to the deal by lowering its earnings per share estimates for Amazon, while RBC Capital increased its 2017 and 2018 EPS estimates for the tech giant. JEFFERIES CUTS EARNINGS OUTLOOK: Analyst Brett Thill slashed his fiscal 2017 and fiscal 2018 EPS estimates for Amazon to $2.48 and $7.38, respectively, from $3.68 and $10.30. Thill lowered previous revenue estimates for Whole Foods by 10%, as he assumed that Amazon would implement “aggressive” price reductions on key staple items, including bananas, eggs,...
I have mentioned a trade possibility of Tata Steel as there is a rising wedge + negative diversion. Today, some steel stocks have breakout on the upside like JSW steel… Now there is another possibility that builds up and it might break the upper trendline of the rising wedge. We have 2 possibilities: Short – Below 628 Targets 615-605-595 Buy – Above 641 Targets 655-665-675 (Though, resistance can be at the upper trendline of the wedge) – I prefer to trade when price breaks the wedge. The chart is below for your reference....
Top Pick of the Day: TRHC Tabula Rasa Healthcare (TRHC) stock perked up as the company announced inking a new deal with CenterLight Healthcare to provide medication risk management services. The company inked the deal through its wholly owned subsidiary CareKinesis. The agreement will be effective from September 1. It will begin with a single launch center with addition of more sites over a period of time. The companies did not disclose the financial terms of the contract. The stock gained over 8 percent in its previous trading session. In the past 12 months, the stock gained 46 percent while its gain on Year to Date basis stands at 45 percen...
Volatility levels are on the rise lately, given escalating North Korea tensions that have rattled global markets this month and Hurricane Harvey that has badly hit the energy sector. Touted as one of the worst storms in history, the storm has caused large-scale flooding along the U.S. Gulf coast, affecting transport of people, food and will likely hurt economic growth if history is any guide. This is because US economic growth dropped 50% in a quarter following Hurricane Katrina in 2005. Additionally, an uncertain Fed policy and fears over the implementation of President Donald Trump’s pro-growth agenda continue to weigh on stocks. The m...
AeroVironment, Inc. (AVAV), a global company that designs, develops, produces, supports, and operates unmanned aircraft systems reported their fiscal first quarter 2018 financial results. AeroVironment reported first quarter earnings of a loss of $0.19 per share which beat analyst expectations of a loss of $0.34 per share. AeroVironment reported first quarter revenues of $43.8 million which beat analyst expectations of $43.7 million. AeroVironment, Inc. CEO’s Comments “The AeroVironment team successfully executed our plan in the first quarter, delivering $43.8 million in revenue, a 21 percent increase over first quarter fiscal 20...
Ok, so Wednesday’s column from Cameron Crise is good. One of the things Cameron is particularly adept at is pissing off Jeff Gundlach. But another thing he’s good at is taking a simple, readily observable dynamic, breaking it down, looking more closely at the numbers, and just generally fleshing it out. Here’s the readily observable dynamic: Spot the odd one out since the election. Again, that’s as 30,000-foot–ish as possible on purpose. That is, it’s just the simplest way of visually communicating the fact that equities (at least at the benchmark level, although if you look under the hood the picture isn’t as pretty) are still...
Thermo Fisher Scientific Inc. (TMO – Free Report) recently completed the buyout of Patheon N.V. Notably, Patheon is a leading contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors. With the closing of the deal, Patheon will be part of Thermo Fisher’s Laboratory Products and Services segment. Thermo Fisher’s initial tender offer for Patheon expires after closing of the deal at $35.00 per share in cash. Patheon generated approximately $1.9 billion revenues in fiscal 2016. Per Thermo Fisher, the collaboration should significantly strengthen its unique value propos...
World markets are still churning, much like Hurricane Harvey…watch for, either a breach of the 50-day moving average, or a retest of 1950 and potential breakout to new highs, as shown on the following Daily chart of the World Market Index. ...
Word is that Hurricane Harvey will end up being the most expensive natural disaster in U.S. history. According to AccuWeather, the estimate for the full cost of the storm will approach $160 billion. To put this number in perspective, Harvey is expected to cost about the same as the combined costs of Hurricanes Katrina and Sandy. Due to the fact that Harvey hit Houston, there will be an economic impact. Analysts are already reducing their estimates for Q3 GDP with AccuWeather suggesting that growth will be reduced by 0.8%. However, the problem is that the true impact of the storm won’t be felt for months as reports argue that Houston won’t...