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Synopsys nears $2 billion-plus software unit sale to buyout firms, sources say
Out more $IIPR May 17th $110 calls @ 2.15 avg. from .80 avg.
Clifford Sosin has 5 holdings... the top one is a 6% stake $CVNA (43% of his port)
He also has a 14.4% stake in $CDLX and has been adding
GOOOOOOOOOOOOOOOOOooooooooooooooooooooooooooooooood morning
? 317000 ART INSTITUTES STUDENTS' DEBTS CANCELLED
? 317000 ART INSTITUTES STUDENTS' DEBTS CANCELLED
Morning Watch List : https://www.optionmillionaires.com/may-2nd-2024-watch-list/
There's a famous adage on Wall Street called "Sell in May and go away," but investors are analyzing if the strategy still holds any merit. The investment approach posits that stocks tend to underperform in the six months through October, so investors should convert to cash at the start of May and then buy into a dip later in the fall. The origins of the saying go back quite a while, with reasons ranging from vacation cycles to bonus allocations, and others noting that the worst market crashes of 1929 and Black Monday in 1987 occurred during this period.
Thought bubble: Many academic papers and market research have been written on the subject, with breakdowns by stock class or time periods. While seasonal patterns do exist, and equities could face some increased risk in the summer months, they still tend to go up over the long term despite additional volatility. Staying fully invested could prove safer than trying to time the market in any given year, and there are countless indicators out there for better portfolio decisions, such as earnings, valuations, and the direction of interest rates.
"The 'Sell in May and go away' adage has a weak track record over the past 40 years, with the S&P 500 having positive returns in over 75% of summer periods," writes Lawrence Fuller, Investing Group Leader of The Portfolio Architect. "The S&P 500 has historically finished the year higher when the first four months posted a gain, supporting a continuation of the bull market."
Unconvinced? If anything, bears have been pointing to the outsized market gains seen since late October and the latest top hit in late March. In only five months, the S&P 500 Index (SP500) soared nearly 28% to hit a peak of 5,264, before slumping 4% in April. Dip buyers may still be waiting for the too-far, too-fast rally to fizzle before inching back into the market, especially given a new period of inflation uncertainty, slowing consumer spending and GDP, and signs of waning risk appetite. (5 comments)
Lack of progress
Recent data showing higher-than-desired inflation means it will take more time for the Fed to gain confidence that price pressures are sustainably easing. That was the main message coming out of Jay Powell's FOMC presser on Wednesday, where he dismissed talk of stagflation after the central bank maintained its key interest rate at 5.25%-5.50% for the sixth consecutive meeting. The FOMC also decided to ease quantitative tightening by slowing the pace of its balance sheet runoff, pushing Treasury yields lower. "Powell adopted a more dovish tone," noted SA analyst Christopher Robb, but also "expressed confidence that long-term inflation expectations are anchored." (35 comments)
Industry heavyweight
It's hard to trade earnings. Shares of Novo Nordisk (NVO) fell more than 3% in premarket trading despite an outlook boost on the back of strong Q1 results. The performance was driven by increased demand for Novo's blockbuster GLP-1 weight-loss drugs Ozempic and Wegovy, which have taken the industry by storm and sent the stock flying. The Danish drugmaker still faces stiff competition in the weight-loss drug market from Eli Lilly (LLY), which has seen surging demand for its GLP-1s. Novo also warned of continued pricing pressures on its diabetes and obesity drugs, as well as supply constraints and shortages. (9 comments)
Big Oil gets bigger
M&A activity in the Permian Basin is progressing, with the FTC poised to approve Exxon Mobil's (XOM) $60B purchase of Pioneer Natural Resources (PXD) after the companies agreed to minor concessions. The approval is likely within days, but it will reportedly be conditioned on Pioneer founder and former CEO Scott Sheffield not joining Exxon’s board as planned. The all-stock deal was announced in October and would make Exxon the most dominant producer in the region. Pioneer is the Permian's largest operator at 9% of gross production, while Exxon is no. 5 at 6% of gross production. (14 comments)
Today's Markets
In Asia, Japan -0.1%. Hong Kong +2.5%. China -0.3%. India +0.2%.
In Europe, at midday, London +0.4%. Paris -0.7%. Frankfurt +0.1%.
Futures at 7:00, Dow +0.5%. S&P +0.7%. Nasdaq +0.9%. Crude +0.6% to $79.50. Gold -0.2% at $2,306.80. Bitcoin +0.3% to $57,822.
Ten-year Treasury Yield -3 bps to 4.61%.
Today's Economic Calendar
Auto Sales
7:30 Challenger Job-Cut Report
8:30 International Trade in Goods and Services
8:30 Initial Jobless Claims
8:30 Productivity and Costs
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
Companies reporting earnings today »
What else is happening...
Big Tech earnings wind down with Apple (AAPL): Looking for GenAI.
IPOs on watch as Viking (VIK) debuts 10% above IPO pricing level.
UnitedHealth (UNH) CEO confirms $22M ransomware payment.
Earnings miss, but NYCB (NYCB) soars on new financial targets.
Tesla (TSLA) pulls back on gigacasting ambitions after cost cuts.
Embraer (ERJ) explores making planes to rival Boeing and Airbus.
Shorts may be put to the test as Carvana's (CVNA) stock drives higher.
More chip earnings: Qualcomm (QCOM) beats, gives strong outlook.
Pfizer (PFE) raises full-year guidance amid major cost savings push.
J&J (JNJ) seeks $6B settlement to resolve talc-related cancer claims.
There's a famous adage on Wall Street called "Sell in May and go away," but investors are analyzing if the strategy still holds any merit. The investment approach posits that stocks tend to underperform in the six months through October, so investors should convert to cash at the start of May and then buy into a dip later in the fall. The origins of the saying go back quite a while, with reasons ranging from vacation cycles to bonus allocations, and others noting that the worst market crashes of 1929 and Black Monday in 1987 occurred during this period.
Thought bubble: Many academic papers and market research have been written on the subject, with breakdowns by stock class or time periods. While seasonal patterns do exist, and equities could face some increased risk in the summer months, they still tend to go up over the long term despite additional volatility. Staying fully invested could prove safer than trying to time the market in any given year, and there are countless indicators out there for better portfolio decisions, such as earnings, valuations, and the direction of interest rates.
"The 'Sell in May and go away' adage has a weak track record over the past 40 years, with the S&P 500 having positive returns in over 75% of summer periods," writes Lawrence Fuller, Investing Group Leader of The Portfolio Architect. "The S&P 500 has historically finished the year higher when the first four months posted a gain, supporting a continuation of the bull market."
Unconvinced? If anything, bears have been pointing to the outsized market gains seen since late October and the latest top hit in late March. In only five months, the S&P 500 Index (SP500) soared nearly 28% to hit a peak of 5,264, before slumping 4% in April. Dip buyers may still be waiting for the too-far, too-fast rally to fizzle before inching back into the market, especially given a new period of inflation uncertainty, slowing consumer spending and GDP, and signs of waning risk appetite. (5 comments)
Lack of progress
Recent data showing higher-than-desired inflation means it will take more time for the Fed to gain confidence that price pressures are sustainably easing. That was the main message coming out of Jay Powell's FOMC presser on Wednesday, where he dismissed talk of stagflation after the central bank maintained its key interest rate at 5.25%-5.50% for the sixth consecutive meeting. The FOMC also decided to ease quantitative tightening by slowing the pace of its balance sheet runoff, pushing Treasury yields lower. "Powell adopted a more dovish tone," noted SA analyst Christopher Robb, but also "expressed confidence that long-term inflation expectations are anchored." (35 comments)
Industry heavyweight
It's hard to trade earnings. Shares of Novo Nordisk (NVO) fell more than 3% in premarket trading despite an outlook boost on the back of strong Q1 results. The performance was driven by increased demand for Novo's blockbuster GLP-1 weight-loss drugs Ozempic and Wegovy, which have taken the industry by storm and sent the stock flying. The Danish drugmaker still faces stiff competition in the weight-loss drug market from Eli Lilly (LLY), which has seen surging demand for its GLP-1s. Novo also warned of continued pricing pressures on its diabetes and obesity drugs, as well as supply constraints and shortages. (9 comments)
Big Oil gets bigger
M&A activity in the Permian Basin is progressing, with the FTC poised to approve Exxon Mobil's (XOM) $60B purchase of Pioneer Natural Resources (PXD) after the companies agreed to minor concessions. The approval is likely within days, but it will reportedly be conditioned on Pioneer founder and former CEO Scott Sheffield not joining Exxon’s board as planned. The all-stock deal was announced in October and would make Exxon the most dominant producer in the region. Pioneer is the Permian's largest operator at 9% of gross production, while Exxon is no. 5 at 6% of gross production. (14 comments)
Today's Markets
In Asia, Japan -0.1%. Hong Kong +2.5%. China -0.3%. India +0.2%.
In Europe, at midday, London +0.4%. Paris -0.7%. Frankfurt +0.1%.
Futures at 7:00, Dow +0.5%. S&P +0.7%. Nasdaq +0.9%. Crude +0.6% to $79.50. Gold -0.2% at $2,306.80. Bitcoin +0.3% to $57,822.
Ten-year Treasury Yield -3 bps to 4.61%.
Today's Economic Calendar
Auto Sales
7:30 Challenger Job-Cut Report
8:30 International Trade in Goods and Services
8:30 Initial Jobless Claims
8:30 Productivity and Costs
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet
Companies reporting earnings today »
What else is happening...
Big Tech earnings wind down with Apple (AAPL): Looking for GenAI.
IPOs on watch as Viking (VIK) debuts 10% above IPO pricing level.
UnitedHealth (UNH) CEO confirms $22M ransomware payment.
Earnings miss, but NYCB (NYCB) soars on new financial targets.
Tesla (TSLA) pulls back on gigacasting ambitions after cost cuts.
Embraer (ERJ) explores making planes to rival Boeing and Airbus.
Shorts may be put to the test as Carvana's (CVNA) stock drives higher.
More chip earnings: Qualcomm (QCOM) beats, gives strong outlook.
Pfizer (PFE) raises full-year guidance amid major cost savings push.
J&J (JNJ) seeks $6B settlement to resolve talc-related cancer claims.
Australia’s Trade Surplus Narrows as Households Defy High Rates
China’s Climate Envoy Has an Economic Case to Make in Washington
Biden Calls Ally Japan ‘Xenophobic’ Along With China, Russia
Japan Likely Spent About $23 Billion in Latest Yen Intervention
Powell Keeps Rate Cuts on Table But Leaves Timing Less Certain
You Can’t Call Jerome Powell a Big Teaser
What Will It Take for the Fed to Lower Rates?
In Jamie Dimon’s America, the Stock Market Has Already Voted
Wall Street Seizes Opportunity to Gut SEC Trading Surveillance
The State of Crypto Is Anything But Strong
Why Banks These Days Are So Excited About Being Boring
Blackstone Taps Vast Source of Cash in $1 Trillion Credit Push
NYSE-Parent ICE’s Profit Rises on Record Surge in Energy Market Volatility
Strongest U.S. Challenge to Big Tech’s Power Nears Climax in Google Trial
The Judge Deciding Google’s Fate
Why Megacorporations Shouldn’t Overestimate Their Monopoly Power
Musk’s Starlink Persists in Unauthorized Areas Despite Shutdown Warnings
Huawei Secretly Backs US Research, Awarding Millions in Prizes
Intel Bets $28 Billion Comeback on High=Tech US Chip Designs
BYD’s First-Quarter Story Is in The Margins
Apple’s Earnings Come With a Low Bar and Big Buyback Hopes
Shell Beats Forecasts on Gas-Trading Resilience; Launches $3.5 Billion Buyback
Moderna Posts Quarterly Sales Beat, Smaller Loss than Expected
Novo Nordisk Hikes Guidance as Weight-Loss Drug Sales Surge. Why the Stock’s Falling
Peloton CEO McCarthy to Step Down; Firm to Cut 15% of Workforce
? U.S INITIAL JOBLESS CLAIMS ACTUAL: 208K VS 207K PREVIOUS; EST 212K
? U.S CONTINUING JOBLESS CLAIMS ACTUAL: 1774K VS 1718K PREVIOUS; EST 1800K
World Acceptance reports Q4 EPS $6.09, consensus $4.34
Reports Q4 revenue $$159.3M, consensus $149.35M."During the most recent quarter, we did not see a significant change in borrowing from new and former customers compared to the same quarter of fiscal year 2023. Our customer base decreased by 1.5% during the twelve-month period ended March 31, 2024, compared to a decrease of 15.9% for the comparable period ended March 31, 2023. During the quarter ended March 31, 2024, the number of unique borrowers in the portfolio decreased by 6.2% compared to a decrease of 7.0% during the quarter ended March 31, 2023. We continued to improve the gross yield to expected loss ratio for all new, former, and refinance customer originations and will continue to monitor performance indicators and intend to adjust underwriting accordingly."
DoorDash price target lowered to $125 from $150 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered the firm's price target on DoorDash to $125 from $150 and keeps an Outperform rating on the shares. The firm notes shares were down 15% in after-hours trading as investors factor in slowing GOV growth and less margin upside, likely pushing bull case EBITDA targets from 2025 to 2026. While 21% GOV growth was above Street, Q2 guided to +17%, and Street margin estimates seem headed down, as Q1 margins in line and Q2 below Street, Oppenheimer adds.
Afternoon Rant if you missed -> https://www.optionmillionaires.com/jb-afternoon-rant-may-1st-2024/
*FED: LACK OF FURTHER PROGRESS TOWARD 2% GOAL IN RECENT MONTHS
*FED HOLDS BENCHMARK RATE IN 5.25%-5.5% TARGET RANGE
*FED TO SLOW PACE OF BALANCE-SHEET RUNOFF STARTING IN JUNE
Don't forget about $TERN - $324 mil market cap with $263.4 mil in cash. Company says enough cash until at least into 2026
One of those names that may get FOMO in the GLP-1 space
$VKTX $NVO $LLY
Out some $IIPR May 17th $110 calls @ 1.82 avg. fom .80 avg.
$IIPR ->
What does $IIPR look like after marijuana is reclassified?
— Option Millionaires (@OMillionaires) May 1, 2024
🤷♂️🤷♂️🤷♂️$MSOS $CGC $ACB pic.twitter.com/GMEpgDRPIQ
Pre-market rant if you missed -> https://www.optionmillionaires.com/jb-pre-market-rant-may-1st-2024/
Morning Watch List :
https://www.optionmillionaires.com/may-1st-2024-watch-list/
💡 $ACB
💡 $CGC
💡 $IIPR
💡 #cannabisindustry
💡 #StocksToWatch
💡 $CVNA
💡 $SPY
💡 $AMZN
💡 $VKTX
💡 $TERN
Morning Watch List : https://www.optionmillionaires.com/may-1st-2024-watch-list/
Market trading like everyone is out getting high...$SPY $QQQ $IWM
— Option Millionaires (@OMillionaires) April 30, 2024
Today's Rant ---->
https://www.optionmillionaires.com/jb-afternoon-rant-april-30th-2024/
👉0:31 #markets #employmentcostindex #inflation $SPY
👉2:20 $CAVA #cava
👉4:00 $VKTX #vikingtherapeutics $LLY $NVO #glp1 👉6:40 $CGC $ACB $IIPR $MSOS #cannabis #WEED #Marijuana
👉11:40 $ROKU $NFLX $SPOT
The Afternoon Rant if you missed -> https://www.optionmillionaires.com/jb-afternoon-rant-april-30th-2024/
JMP Securities Reiterates Market Outperform on $TERN - keeps $15 PT
Pre-market rant if you missed ->
https://optionmillionaires.com/jb-pre-market-rant-april-30th-2024/
Morning Watch List : https://www.optionmillionaires.com/april-30th-2024-watch-list/
$LLY adding $48.39 billion in market cap this morning on strong Zepbound, Mounjaro sales...
That is equivalent to 5.8 - $VKTX 's
$LLY adding $48.39 billion in market cap this morning on strong Zepbound, Mounjaro sales...
That is equivalent to 5.8 - $VKTX 's
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