Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Wall Street Breakfast: War Demand
Jan. 04, 2024 7:30 AM ET
War demand
Many are watching as conflict and war expand across the globe, and what those consequences might mean for various sectors of the economy. Everything from energy and finance to supply chains hangs in the balance, with spillover effects mostly acutely impacting defense production. Countries and companies alike are preparing by restocking their arsenals and inventories, as well as fast-tracking new technologies to give them the upper hand or banning their adversaries from acquiring them.
Bigger picture: The U.S. has already outlawed or effectively lobbied allies against selling cutting-edge semiconductor chips to China out of fear that the silicon could be used for precision-guided kits or other advanced military systems. Traditional arms are also back in fashion, with BAE Systems (OTCPK:BAESY) announcing today that it would restart production of M777 howitzer parts for the U.S. Army. Putting it in perspective, the last order that took place was five years ago, but with output back online, BAE expects to ink new contracts for the artillery cannons given inquiries from more than eight countries.
Pictures of M777 Howitzers https://www.bing.com/search?q=picture+of+M777+howitzer&form=ANNTH1&refig=f71429a5ce124c3eac8bff9c39b60d33&pc=HCTS
It's not the only company going into overdrive. Thales is bringing back the Starstreak portable air-defense missile, while other firms like Raytheon (NYSE:RTX) struggle to ramp up production of the popular NASAMS, which helps protect crucial areas like the airspace over the White House. Demand may not be the only factor when deciding how to invest, with SA's screening tool helping identify strong buys within the defense sector. Check out the Top Defensive Stocks For Turbulent Times by Steve Cress, Head of Quantitative Strategies at Seeking Alpha.
Conflict zones: It's not only Russia-Ukraine, China-Taiwan, and an escalating war across the Middle East. Cartel chaos in Mexico has prompted mainstream discussion in the U.S. over whether military personnel should be sent south of the border, while a Venezuela-Guyana conflict could shake things up in Latin America. The U.S. is also preparing military options to secure international shipping in the Red Sea, as well as bases for drones in Africa to counter Russia and stop an Islamist insurgency across the region. Preparing for what might come ahead, President Biden and Congress signed off on a U.S. defense policy bill in December that approved a record $886B in annual military spending.
OMGA $5.70 +2.97 (+108.79%)
As of Jan-04-202411:20:14 AM ET
Famed Obesity Drug Maker Novo Nordisk Inks Collaborations For Cardiometabolic Diseases
BENZINGA
Novo Nordisk A/S (NVO.NaE) , Omega Therapeutics Inc (OMGA.NaE) , and Cellarity Inc. announced that Novo Nordisk (NVO.NaE) has entered into separate research collaborations with each company.
The Omega collaboration will leverage its proprietary platform technology to develop an epigenomic controller designed to enhance metabolic activity as a part of a potential new treatment approach for obesity management.
The Cellarity collaboration aims to unravel novel biological drivers of MASH, a chronic and progressive liver disease and will leverage Cellarity's platform to develop a small molecule therapy against this disease.
These are the first two programs signed under the framework collaboration between Flagship Pioneering and Novo Nordisk (NVO.NaE) to leverage Flagship's bioplatform companies to develop novel treatment approaches for cardiometabolic diseases.
In September 2022, Novo Nordisk (NVO.NaE) engaged Cellarity to identify novel cell behaviors implicated in MASH disease progression.
The research collaboration expands on this initial work and will further leverage Cellarity's platform to develop a small molecule therapy.
Each company, Novo Nordisk (NVO.NaE)...... (con't)
Top % gainers
Across all markets
Symbol Last % Change Volume
MINM $4.43 +159.12% 35.7M
OMGA $5.74 +110.29% 57.5M
JFBR $4.21 +33.65% 7.5M
MOBX $3.89 +31.42% 2.3M
QS $8.17 +25.69% 22.3M
Volume movers
2-day
Symbol Last % Change Volume
LFMD $6.17 -20.66% 1.8M
KNSA $18.20 -8.91% 570.7K
FAX $2.83 +3.93% 2.4M
SB $4.27 +6.48% 1.9M
ALRM $61.57 +0.69% 149.8K
Most actives
Across all markets
Symbol Last % Change Volume
OMGA $5.74 +110.07% 57.2M
SOXS $6.93 +1.17% 56.4M
SQQQ $14.63 +0.24% 43.9M
TSLA $241.32 +1.20% 40.1M
SOXL $25.91 -1.29% 39.7M
Commenter on Chip Industry piece:
Fearful greedy and broke
Today, 9:41 AM
Spine shivers and a cold shower for investors in the chip industry might be a good thing. There sure is a lot of optimism baked in there, and the sell side analysts are on hype overdrive.
Mobileye weak Q4, full-year guidance sends shivers down spine of chip industry
https://stockcharts.com/h-sc/ui?s=MBLY
Jan. 04, 2024 10:12 AM ET Mobileye Global Inc. (MBLY) StockINTC, TXN, ADI, STM, ON, IFNNY, NXPI
By: Chris Ciaccia, SA News Editor
Mobileye (NASDAQ:MBLY) shares plunged in early trading on Thursday after it reported preliminary fourth-quarter results and offered a weak full-year outlook for 2024, resulting in a broader sell-off in the semiconductor industry.
For the fourth-quarter of 2023, Mobileye now expects revenue to be between $623M and $648M, below its previous expected forecast of $634M to $638M. Wall Street analysts were expecting sales of $634.98M.
The company also expects adjusted operating income for the period to fall within a range of $202M to $219M, below the previous forecast of $241M to $247M.
Looking to 2024, Mobileye, which helps develop autonomous driving technologies and advanced driver-assistance systems, said it expects sales to be between $1.83B and $1.96B, well below the estimate of $2.58B.
The company expects EyeQ shipments to be between 31M and 33M, below the 37M seen in 2023. SuperVision shipments are expected to rise from 100,000 to be between 175,000 and 195,000.
For the first-quarter, Mobileye expects revenue to be down about 50% year-over-year, as the company has recently become aware of excess inventory at its customers. Mobileye was partially spun off by Intel (INTC) in 2022.
Morgan Stanley analyst Adam Jonas, who has an equal weight rating and $37 price target on Mobileye, said investors are likely to question the company going forward.
"We cannot recall another example of an established supplier guiding down [50 percent] for a quarter (excluding exogenous shock/macro event) due to excess inventory in the channel," Jonas wrote. "[It] may raise questions about the efficacy of business processes/systems at the company. It may take until deep into 2H24 to rebuild the market's confidence."
Following the updated guidance from Mobileye, several other chipmakers fell, including On Semiconductor (ON), Infineon (OTCQX:IFNNY) and STMicro (STM), all of which have significant exposure to the automotive industry.
NXP Semiconductors (NXPI), Texas Instruments (TXN) and Analog Devices (ADI) also fell 3% or more in early trading on Thursday.
CNBC Morning news
1. New year, new markets
So far the new year hasn’t been kind to the markets. The Nasdaq Composite fell 1.18% on Wednesday, the second trading session of 2024, building on its worst daily performance in months. Investors appeared to be selling last year’s tech winners with Apple, Nvidia, Tesla and Meta all seeing losses. The S&P 500 and the Dow Jones Industrial Average also saw slight declines for the day. Meanwhile, the 10-year Treasury yield briefly topped the 4% mark on Wednesday. Follow live market updates.
2. Waiting on the economy to evolve
The Federal Reserve indicated that it’s still not quite ready to cut rates. The Fed seems to think interest rate cuts are likely in 2024, but it’s not sure when that might happen. The Fed on Wednesday released minutes from its latest meeting, when it held the benchmark rate steady in a range between 5.25% and 5.5%. Members at that meeting also indicated that they expect three quarter-percentage-point cuts by the end of 2024, noting that inflation concerns have subsided. But they struck a cautious tone in the minutes, with several members saying rates might need to stay high if the right conditions don’t come to fruition. Wednesday’s release noted an “unusually elevated degree of uncertainty” about the policy path and said future decisions would depend on “how the economy evolves.”
3. Kicking it up a gear
General Motors just had its best year for vehicle sales since 2019. The automaker reported Wednesday that it sold 2.6 million vehicles in 2023 — good for a 14.1% increase over 2022. That puts the company on track with overall industry expectations. Still, GM’s electric vehicle sales for the year were disappointing. EVs made up only 2.9% of the company’s total sales last year, and most of those were for now-discontinued Chevrolet Bolt models. The automaker said it will bump up its EV production for 2024 and offer $7,500 in incentives for any models that no longer meet requirements for $7,500 in federal tax credits.
4. Oil prices
Oil prices rose more than 3% Wednesday as tensions remain high in the Red Sea. The United States warned Houthi militants, who are backed by Iran and located in Yemen, to stop attacking vessels in the area. To avoid the possibility of conflict, carriers have already diverted more than $200 billion in trade from the Red Sea. Also affecting oil prices, Reuters reported that protests in Libya have shut down the Sharara oilfield, which produces 300,000 barrels per day.
5. Xerox cuts
Xerox plans to cut 15% of its workforce this quarter. A previous SEC filing said the company had 20,500 employees, which means the layoffs would affect about 3,075 employees. Xerox — the digital printing and document management technology company that became so ubiquitous its name is still used as a verb — also said it was planning to implement a new organizational structure and operating model. That includes redesigning its executive team and simplifying its products. Xerox stock fell more than 12% Wednesday after the announcement.
— CNBC’s Michele Luhn wrote this newsletter. Lisa Kailai Han, Jeff Cox, Michael Wayland Spencer Kimball, Lori Ann LaRocco and Ashley Capoot contributed.
DYN Out for one, thin dime.
In yest @17.08 avg, out now @ 17.18
+.10/share win :)
Even tho I got out, I did not like the way this went down. And I mean that figuratively as well as well as literally.
$17.18 +2.41 (+16.32%)
As of Jan-04-202410:25:36 AM ET
Volume 2,784,884
10/90-day avg. vol. 3M / 844K
Day range $14.29 - $17.22
https://stockcharts.com/h-sc/ui?s=DYN
52-week range $6.40 - $18.73
$NDX $QQQ - Update.. Turned after nearing my 4th Target from the Primary Bear 'Wedge' I had warned of
By: Sahara | January 4, 2024
• $NDX $QQQ - Update..
Turned after nearing my 4th Target from the Primary Bear 'Wedge' I had warned of.
I also showed a 'Broadening' Plot (Black) where we have tapped both Measured Move targets.
Now a Bear 'Wedge'. Which may be in-play to the Red Arrowed Targets if correct...
Read Full Story »»»
DiscoverGold
$Oil $WTIC #Energy - Update...
By: Sahara | January 4, 2024
• $Oil $WTIC #Energy - Update...
Price followed my Alt Pattern (Bear 'Wedge') prior, tapped the Target I had & exceeded it.
Therefore I have had to adjust the 'Bowl' with a new pot'l pathway. See if it can hold, as any drop from the Pattern other than a brief one will negate it..
Read Full Story »»»
DiscoverGold
SPY $3.5M Unusual OTM Call Print *Above the Ask*
By: Cheddar Flow | January 4, 2024
• $SPY $3.5M Unusual OTM Call Print
*Above the Ask*
Read Full Story »»»
DiscoverGold
Most Declined
Pre-Market fromnasdaq.com
Symbol Name Last Change % Change
MBLY Mobileye Global Inc. $28.44 -11.28 -28.4%
EVO Evotec SE $9.38 -1.13 -10.75%
MOLN Molecular Partners AG $4.47 -0.53 -10.6%
LFMD LifeMD, Inc. $7 -0.77 -9.91%
AISP Airship AI Holdings, Inc $2.04 -0.18 -8.11%
MRNS Marinus Pharmaceuticals, Inc. $9.70 -0.72 -6.91%
NXPI NXP Semiconductors N.V. $202.50 -13.58 -6.28%
APA APA Corporation $34.69 -2.06 -5.61%
NKGN NKGen Biotech, Inc. $2.87 -0.15 -4.97%
WBA Walgreens Boots Alliance, Inc. $24.30 -1.27 -4.97%
Bear Of The Day: Elbit Systems (ESLT)
By: Hedge | January 4, 2024
Elbit Systems (ESLT) is a Zacks Rank #5 (Strong Sell) and has seen earnings estimates slide lower recently following a rough year with 4 misses of the Zacks Consensus Estimate. This article will look at why this stock is a Zacks Rank #5 (Strong Sell) as it is the Bear of the Day.
Description
Elbit Systems Ltd. engages in the defense and homeland security sector. It develops and supplies airborne, land and naval systems and products for defense, homeland security, and commercial applications. The firm also provides training and support services. The company was founded in 1996 and is headquartered in Haifa, Israel.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
In the case of ESLT, I see four misses of the Zacks Consensus Estimate. This alone does not make the stock a Zacks Rank #1 (Strong Buy) and it doesn’t make it a Zacks Rank #5 (Strong Sell) either.
The Zacks Rank does care about the earnings history, but it is much more heavily influenced by the movement of earnings estimates.
Earnings Estimates
The Zacks Rank tells us which stocks are seeing earnings estimates move higher or in this case lower. For ESLT I see annual estimates moving lower of late.
The current fiscal year (2023) consensus number moved lower from $6.90 to $6.30 over the last 60 days.
The next year moved from a gain of $7.75 to $6.60 over the last 60 days.
Negative movement in earnings estimates like that is why this stock is a Zacks Rank #5 (Strong Sell).
It should be noted that a lot of stocks in the Zacks universe are seeing negative earnings estimate revisions. That means that the stocks that are seeing small but negative earnings estimate revisions are falling to a Zacks Rank #5 (Strong Sell).
Read Full Story »»»
DiscoverGold
Most Advanced
Pre-Market
Symbol Name Last Change % Change
OMGA Omega Therapeutics, Inc. $5.21 +2.48 +90.84%
MSAI Infrared Cameras Holdings, Inc. $3.43 +0.43 +14.33%
ACET Adicet Bio, Inc. $2.01 +0.25 +14.28%
MOBX Mobix Labs, Inc. $3.30 +0.34 +11.49%
CUTR Cutera, Inc. $3.27 +0.33 +11.22%
KROS Keros Therapeutics, Inc. $44.60 +3.34 +8.1%
PTON Peloton Interactive, Inc. $5.79 +0.41 +7.62%
XERS Xeris Biopharma Holdings, Inc. $2.40 +0.16 +7.14%
NKTX Nkarta, Inc. $5.98 +0.39 +6.98%
LBPH Longboard Pharmaceuticals, Inc. $23.96 +1.56 +6.96%
Bull Of The Day: Stronghold Digital Mining (SDIG)
By: Hedge | January 4, 2024
Stronghold Digital Mining (SDIG) is a Zacks Rank #3 (Hold) that has a D for Value and an A for Growth. Stronghold Digital is in the business of mining bitcoin and selling it to fund operations. The price of SDIG stock surges in December as investors piled into Bitcoin related names in anticipation of SEC approval of Bitcoin ETFs. On top of the ETF, there is a “halving” of Bitcoin coming in April of this year and that will be another strong catalyst for Bitcoin miners like Stronghold Digital. Let’s explore more about this company in this Bull of The Day article.
Description
Stronghold Digital Mining, Inc. is a vertically integrated crypto asset mining company, which engages in mining Bitcoin. It operates the Energy Operations and Cryptocurrency Operations segments. The company was founded by Gregory Allan Beard and William B. Spence on March 19, 2021 and is headquartered in New York, NY.
December Surge And Short Interest
When the Federal Reserve declined to increase interest rates in December they also released a dot plot that indicated that rates were likely to come down in 2024. The long awaited pivot will likely force cash from money market accounts and back into the market. Many investors rushed to buy some of the higher beta / beaten down small cap stocks like Stronghold Digital (SDIG)
Stronghold Digital (SDIG) saw its stock price more than double in the month leaving investors waiting for a dip in price in order to build a position in the name. That has come over the last few days as the stock has slipped from more than $11 back down to $6.
Those who have waited for pull back now have a great chance to see their investment prosper. On the flip side, the short sellers have not built a very large position in the stock with only 7.8% of the float sold short. There is a lag in reporting short interest data so we are working with data that was published on December 27 but was accurate as of December 15. The next publication date will be January 10, but again, the lag puts the date of accuracy closer to December 29 when the stock was peaking.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
For Stronghold Digital, I see three beats of the Zacks Consensus Estimate and one miss over the last year. The average positive earnings surprise over the last year works out to be 34%.
Earnings Estimates Revisions
Earnings estimates revisions is what the Zacks Rank is all about.
For SDIG estimates are holding still.
The Zacks Rank tells us which stocks are seeing positive earnings estimate revisions so it makes sense that this stock has no positive or negative revisions over the last 60 days when it is a Zacks Rank #3 (Hold).
A key idea in the estimates for SDIG should be noted here. The company is slated to lose $1.56 for the full year 2023 but estimates are calling for the company to be profitable in 2024 by earning $0.08.
Accelerating Growth
This year the company is looking for 21% topline contraction in 2023, but the story changes in 2024. The consensus estimate for revenue is calling for 47% year over year growth in 2024. Accelerating growth on top is a great signal.
Valuation
The forward PE works out to be 82.5x, which might scare some investors off, but the probability of estimates increasing down the road will probably serve to help lower the forward PE. The price to book of 0.76x means that at current prices, investors are buying the stock for less than the assets on the books. Value investors love to see a low price to book multiple. Price to sales of 0.9x suggests that the market doesn’t fully value the sales of the company, but with Bitcoin set to surge thanks to the probable approval of ETFs and the halving, that should change dramatically.
Read Full Story »»»
DiscoverGold
What was moving in late Pre-Mkt
Most Active By Share Volume
Pre-Market fromnasdaq.com
Symbol Name Last Change Share Volume
OMGA Omega Therapeutics, Inc. $5.21 +2.48 12,957,056
MBLY Mobileye Global Inc. $28.44 -11.28 3,564,685
TSLA Tesla, Inc. $238.90 +0.45 1,638,186
AMZN Amazon.com, Inc. $145.40 -3.07 1,475,715
WBA Walgreens Boots Alliance, Inc. $24.30 -1.27 1,434,363
MU Micron Technology, Inc. $83.46 +1.20 1,272,547
AAPL Apple Inc. $181.91 -2.34 1,202,248
INTC Intel Corporation $45.65 -1.40 1,147,801
PTON Peloton Interactive, Inc. $5.79 +0.41 1,084,531
AMD Advanced Micro Devices, Inc. $134.20 -1.12 1,044,432
Data as of Jan 4, 2024 9:27 AM ET
The S&P 500 Reached 4800. Multi-year Top?
By: Dr. Arnout Ter Schure | January 3, 2024
• Last week, the SPX reached $4793, close to our ideal $4800 target anticipated in October. Now, the index may have put in a multi-year top.
First, we wish all our readers, old and new, a Happy New Year. Second, to those new to our work, we reviewed our forecasts since August in our last update of 2023, showing we anticipated most market moves correctly, albeit sometimes inevitably missing the finer nuance.
In that update, we noted that since the October 27 low at $4103, “no pullback exceeded -1.2%. …Hence, the current rally is a significant outlier that is unforeseeable when it starts. However, and therefore, it smells of a 5th wave. Thus, our primary expectation is for the index to top out, as we forecasted it could almost two months ago, at $4750-4795.”
However, the decline from the December 28, 2023, $4793 high is now the deepest and longest since that October low, strongly suggesting the rally has ended. Allow us to explain with Figure 1.
Figure 1. Daily SPX chart with detailed EWP count and technical indicators
Five Waves Up May Have Been Completed
In an Elliott Wave impulse pattern, we expect a correction to the downside to unfold after five completed waves. Five green waves completed at the December 2023 high in this case. The first warning level for the Bulls to confirm this thesis is below the blue dotted line at last Wednesday’s low: 4695. The 2nd warning is the grey level at $4610. At this stage, the Bears haven’t even broken price below the blue level yet but have broken below the equivalent level on the NAS, NDX, and SOX, telling us these indexes are already further along with confirming their “the top is in.”
Now the question is: what kind of top? We already discussed this in our December update, but let’s recap. Figure 1 shows the blue Wave-B (W-B) and black W-3 labels. The former suggests the index has completed its counter-trend rally from the October 2022 low as a regular B-wave and is now ready to embark on a devasting C-wave to $2700-3500. However, it will ultimately require a break below the red warning level, October 2023 low at $4103, with a severe warning below the orange 3rd warning level at $4535, to tell us this potential is the case.
The latter suggests the index has “only” completed the black (major) W-3, is now in black W-4 back down to ideally $4417+/-144 before the black W-5 to ideally $4883-5026 kicks in. From there, we can then anticipate the aforementioned more significant decline. It requires a break below $4535 while staying above $4103 to allow this potential.
Our alternative scenario is in Figure 2 below.
Figure 2. Daily SPX chart with detailed EWP count and technical indicators
Namely, as stated in our last update, “Since the October 27, 2023, low, the price pattern … is truly out of the ordinary for stock markets, which renders the smaller wave structures less clear.” We can, therefore, interpret the current decline as a potential green W-4 to ideally $4650+/-20, followed by another green W-5 to ideally $4483+/-20. This option will be invalidated below $4560 as the decline will then be too large to reliably assess it as a smaller degree (minor) 4th wave.
Thus, our primary expectation “for the index to top out, as we forecasted it could almost two months ago, at $4750-4795” was correct. As such, and as stated in December, our primary expectations remain
1. either a long-term top (blue W-B) and set course for $2700-3500 or
2. a drop to ideally around $4417+/-144 for the black W-4?, before a final rally to as high as $4983-5026 for the black W-5?. Our alternative is
3. for a mild correction to around $4560+/-20, from where a rally to $4883-5026 can materialize.
Unfortunately, at this stage, we can’t discern between A), B), or C). We always wish things to be more transparent, but we are not dealing with a linear environment. We are not prophets. Nobody is; we can never be certain and cannot tell you which way the market will go every day. Still, we certainly can provide the most likely scenarios and the parameters, i.e., price levels to look for, so you will know what to expect.
Thus, the final statement in our last update, when the index was trading 30p higher than now, remains relevant, “Hence, at this point, it would be appropriate to assess the short- to long-term risk/reward at current price levels, and the warning levels above can be used as one’s insurance policy to prevent havoc on one’s portfolio.”
Read Full Story »»»
DiscoverGold
52 week lows
$20+ stocks
Symbol Last % Change Volume
MBLY $28.61 -27.98% 8.4M
HIGH $24.55 -0.06% 27.2K
52 week highs
$20+ stocks
Symbol Last % Change Volume
ALL $150.17 +3.57% 159.5K
MPC $160.35 +1.56% 365.4K
PGR $165.88 +1.66% 58.9K
LPG $48.28 +5.99% 195.9K
NVO $105.45 +1.77% 800.2K
Gold’s Retreat: Assessing Support Levels Amidst Ongoing Price Symmetry
By: Bruce Powers | January 3, 2024
• Gold retraces, testing support at 20-Day MA and raising questions about the depth of the near-term retracement. Key levels and rising trend dynamics are under scrutiny.
Gold retraces 50% of the prior advance and finds support for the day at 2,031. A successful test of support at the 20-Day MA also completed today at 2,034. Today is the second test of support at the 20-Day line, while the first was on December 15 (C). It remains to be seen whether support will hold and turn prices higher. There are no signs of that yet. Therefore, the expectation in the near-term is for a deeper retracement, but maybe not by much.
If Gold Keeps Falling It Targets 61.8
There is likely support around the lower uptrend line, whose price will vary depending on when is reached, and the 61.8% Fibonacci retracement at 2,017. A little lower is the 50-Day MA at 2,008. Either of these levels may see demand increase. It seems like if gold is going to make a run for new highs in the foreseeable future, ideally, we would want to see the price structure of higher swing highs and lows retained in the rising trend channel.
Symmetry Between Swings
Gold is currently within the third leg up in a rising trend begun from the early-October swing low of 1,810. There is both time and price symmetry between the first two moves, which may provide clues to the upside target for the third move. The first advance from the October low saw the price of gold rise by 199 points or 11% in 15 days, while the second upswing was 203 or 10.5% in 15 days. This doesn’t mean that the third leg up in the trend will match the prior moves, but it could, or at least have some degree of mathematical relationship.
Price Symmetry Points to 2,176
The third advance, that started from the recent swing low of 1,973, successfully tested support at the 50-Day MA. Given that the current leg up is on its thirteenth day, a match in time looks unlikely. However, a similar move in price can be represented by the rising ABCD pattern where the CD leg equals the AB leg. That pattern completes at a target of 2,176. If reached, it will show a mathematical relationship between all three recent advances.
Read Full Story »»»
DiscoverGold
Top $ losers
Across all markets
Symbol Last % Change Volume
MPWR $568.40 -1.71% 42.3K
MDB $362.20 -2.89% 289.5K
NXPI $205.11 -5.08% 407.1K
MBLY $29.04 -26.89% 8.1M
MKTX $269.11 -3.53% 37.4K
Top $ gainers
Across all markets
Symbol Last % Change Volume
MUSA $375.04 +3.51% 12.1K
EPAM $292.70 +3.55% 21.3K
NOC $482.60 +1.63% 30.3K
MSTR $637.25 +0.98% 141.2K
INSP $171.26 +3.61% 72.3K
Top % losers
Across all markets
Symbol Last % Change Volume
EJH $1.06 -28.68% 2.1M
MBLY $29.11 -26.71% 7.9M
OPK $1.13 -24.56% 5.7M
LFMD $6.34 -18.40% 597.0K
AVNS $18.82 -13.33% 37.6K
Top % gainers
Across all markets
Symbol Last % Change Volume
MINM $4.50 +163.22% 19.0M
OMGA $5.44 +99.08% 24.2M
SMFL $2.52 +52.73% 5.9M
JFBR $4.00 +26.98% 3.5M
ACON $4.09 +22.31% 633.7K
Volume movers
2-day
Symbol Last % Change Volume
MTC $1.65 -8.84% 193.1K
SCYX $2.01 +2.55% 337.9K
KNSA $18.43 -7.76% 221.7K
EJH $1.08 -27.03% 2.0M
DYN $16.03 +8.53% 748.6K
AI-generated Buy and Sell signals
By: Hedgeye | January 4, 2024
• This is free access to our brand-new AI-generated buy and sell signals.
Read Full Story »»»
DiscoverGold
Most actives
Across all markets
Symbol Last % Change Volume
OMGA $5.80 +112.45% 22.1M
SOXS $7.05 +2.92% 21.1M
SOXL $25.45 -3.04% 17.8M
MINM $4.84 +182.88% 17.0M
SQQQ $14.75 +1.10% 11.4M
Protracted Manufacturing Downturn Represents Economic Reality
By: Hedgeye | January 4, 2024
Is there a more representational chart of today's market dynamics than today's bonus chart? ISM manufacturing vs. S&P 500. The ISM data represents the economic reality of the business cycle, while the S&P 500 represents flow dynamics in the face of deteriorating fundamentals.
The latest ISM Manufacturing PMI data revealed a marginal improvement to 47.4 in December 2023 from November's 46.7, slightly surpassing expectations of 47.1. Nonetheless, the figure marks a 14-month decline in manufacturing activity, the most prolonged downturn since the 2000-2001 period. While production saw a bounce (50.3 from 48.5), areas like new orders (47.1 from 48.3), employment (48.1 from 45.8), and inventories (44.3 from 44.8) continued to contract. Price pressures eased (45.2 from 49.9) despite mixed influences from energy and metal markets. The Supplier Deliveries Index also increased (47 from 46.2), hinting at shorter lead times, which could bode well for future economic conditions.
The protracted nature of this manufacturing downturn really can't be understated. If we start to see the job market weaken, there's your hard landing.
Read Full Story »»»
DiscoverGold
The 10 Top/Bottom S&P 500 Index percent net change performers
By: Thom Hartle | January 4, 2024
• Today (8:33 CST), the 10 top/bottom percent net change performers in the S&P 500 Index.
Read Full Story »»»
DiscoverGold
Insiders dumping on the puffy PR in the morning- offering announced in the evening!
Stock tanking before the Offering is announced!
So crooked !!
SEC should investigate!
The 10 Top/Bottom NASDAQ 100 Index percent net change performers
By: Thom Hartle | January 4, 2024
• Today (8:33 CST), the 10 top/bottom percent net change performers in the NASDAQ 100 Index.
Read Full Story »»»
DiscoverGold
Today Merck & Co Inc. (MRK) is the best performer in the DJIA
By: Thom Hartle | January 4, 2024
• Today (8:32 CST), the best performer in the DJIA is Merck & Co Inc. MRK.
Read Full Story »»»
DiscoverGold
Crude Oil
73.05 +0.48%
Gold
2,049.50 +0.33%
US 10 Year
39.91 +2.15%
OPEN
Today (8:31 CST), the performance of the Country Stock Index ETFs is mixed
By: Thom Hartle | January 4, 2024
• Today (8:31 CST), the performance of the Country Stock Index ETFs is mixed.
Read Full Story »»»
DiscoverGold
DJIA
37,482.92
+52.73 (+0.14%)
NASDAQ
14,535.93
-56.28 (-0.39%)
S&P 500
4,700.63
-4.18 (-0.09%)
OPEN
Today (8:30 CST), equities mixed, FI lower, metals mixed, crude & products mixed, nat gas higher, $ mixed
By: Thom Hartle | January 4, 2024
• Today (8:30 CST), equities mixed, FI lower, metals mixed, crude & products mixed, nat gas higher, $ mixed.
Read Full Story »»»
DiscoverGold
Simulations Plus (SLP) posts strong Q1 growth, leadership changes
By: Investing | January 4, 2024
Simulations Plus , Inc. (NASDAQ:SLP), a leading provider of simulation software for pharmaceutical development, reported a robust start to fiscal 2024 with a 21% increase in first-quarter revenue, which totaled $14.5 million. The Software segment, particularly the Physiologically Based Pharmacokinetics (PBPK) offerings, was a significant growth driver, posting a 25% revenue surge. Despite this, the Clinical Pharmacology and Pharmacometrics (CPP) unit saw a slight 1% dip in revenue. The Services segment also showed strength with a 17% revenue increase. The company's leadership team was strengthened with four key appointments, signaling a strategic emphasis on operational efficiency and market expansion. With a solid backlog and a steady outlook, Simulations Plus remains committed to leveraging AI and predictive analytics to deliver value to its clients.
Key Takeaways
Simulations Plus reported a 21% increase in Q1 revenue, reaching $14.5 million.
The Software segment's revenue grew by 25%, with PBPK revenue up by 27%.
The CPP business unit's revenue declined by 1% due to biotech churn.
Services segment revenue increased by 17%.
Four significant leadership appointments were announced, including a new COO and CRO.
The company's backlog grew to $18.9 million, with over 80% expected to convert to revenue within 12 months.
Adjusted EBITDA rose to $3.4 million, with net income at $1.9 million.
Diluted earnings per share increased to $0.10.
The company ended the quarter with $113.9 million in cash and short-term investments.
Fiscal 2024 revenue guidance remains at a 10% to 15% growth, with software and services segments expected to contribute 55-60% and 40-45% of revenue, respectively.
Company Outlook
Maintains 10%-15% revenue growth guidance for fiscal 2024.
Software segment to contribute 55%-60% of total revenue.
Services segment to account for 40%-45%.
Aims for a 60-40 software to services revenue ratio to sustain profitability.
Read Full Story »»»
DiscoverGold
UniFirst (UNF) Q1 FY2024 performance shows solid growth
By: Investing | January 4, 2024
UniFirst Corporation (NYSE:UNF), a leading provider of workplace uniforms and laundry services, has reported a robust start to fiscal year 2024 with its first-quarter results. The company's revenues saw a 9.5% increase over the same period last year, a rise attributed to the strategic acquisition of Clean Uniform and a notable 22.4% growth in its first aid and safety division. Profits soared by over 20%, benefiting from the company's top-line growth and reduced costs due to key initiatives. Despite these positive results, UniFirst acknowledged facing challenges with pricing, customer retention, and wearer levels, which could affect organic growth in the upcoming months. The company has projected full-year consolidated revenues to range between $2.415 billion and $2.435 billion and expects diluted earnings per share to be in the range of $6.52 to $7.16.
Key Takeaways
UniFirst reports a revenue increase of 9.5% in Q1 FY2024, driven by the acquisition of Clean Uniform and growth in the first aid and safety division.
Profits climbed by over 20% due to top-line growth and efficiency initiatives.
The company faces challenges with pricing, customer retention, and wearer levels, potentially impacting future organic growth.
Full-year revenue is projected to be between $2.415 billion and $2.435 billion, with diluted EPS expected between $6.52 and $7.16.
UniFirst anticipates lower price sensitivity and customer retention in future quarters.
The company received a $2.1 million interest income from a tax dispute settlement.
There are no significant changes in the acquisition environment, but the company remains open to strategic opportunities.
Company Outlook
The company expects to hit the lower end of its full-year revenue projections.
UniFirst maintains guidance for key initiatives costs and tax rate.
They anticipate flat merchandise costs with slight headwinds.
Read Full Story »»»
DiscoverGold
DYN Well, at least we were playing with a quality stock.
I came within .80/share of crossing the threshold into green.
I got a bunch of lessons from yesterday's play
I could even add one more time when the weight of the offering is fully felt, in the ensuing days.
These tend to snap back when the offering closes- although this is a pretty substantial offering, about a quarter of its MC
Walgreens, Ford, Micron rise premarket; Apple, Cal-Maine Foods fall
By: Investing | January 4, 2024
U.S. futures traded higher Thursday, with investors digesting the minutes from the December Federal Reserve meeting ahead of more labor market economic data.
Here are some of the biggest premarket U.S. stock movers today:
Walgreens Boots Alliance (NASDAQ:WBA) stock rose 3.3% after the drug store chain reported better-than-expected profit for the first quarter on strength in its pharmacy operations and cut its quarterly dividend in an attempt to save cash.
Ford (NYSE:F) stock rose 0.4% after the auto giant announced plans to increase the prices of some of its electric F-150 Lightning pickup trucks, suggesting demand is strong for the product.
Apple (NASDAQ:AAPL) stock fell 0.7% after brokerage Piper Sandler downgraded its stance on the tech giant to ‘neutral’ from ‘overweight’, saying new checks showed a soft broader handset environment in the first half of 2024.
Micron (NASDAQ:MU) stock rose 0.9% after Piper Sandler upgraded the chipmaker to ‘overweight’ from ‘neutral’, saying recent supply cuts should accelerate upward pricing in both flash memory and chip markets.
Cal-Maine Foods (NASDAQ:CALM) stock fell 4.3% after a drastic fall in egg prices hit the company’s second-quarter results.
APA (NASDAQ:APA) stock fell 3.6% after the independent energy company agreed to acquire Callon Petroleum (NYSE:CPE), up 7.2%, in an all-stock deal valued at about $4.5 billion.
Mattel (NASDAQ:MAT) stock fell 0.3% after brokerage Roth MKM downgraded the Barbie doll maker to ‘neutral’ from ‘buy’, citing a cautious outlook for 2024.
Mobileye Global (NASDAQ:MBLY) stock fell over 25% after the autonomous driving tech company slashed its revenue forecast for 2024, expecting customers to pull back on orders.
Read Full Story »»»
DiscoverGold
Simply Good Foods (SMPL) Reports Q1 In Line With Expectations, Reaffirms Full Year Guidance
By: Investing | January 4, 2024
Packaged food company Simply Good Foods (NASDAQ:SMPL) reported results in line with analysts' expectations in Q1 FY2024, with revenue up 2.6% year on year to $308.7 million. It made a non-GAAP profit of $0.43 per share, improving from its profit of $0.42 per share in the same quarter last year.
Key Takeaways from Simply Good Foods's Q1 Results This was a quarter with no surprises and the company's management also described the results as "in line" in the earnings release. Revenue and operating margin missed by a bit, but adjusted EBITDA and EPS beat. The company reaffirmed its full year outlook, showing that things are very much on track. The stock is up 1.4% after reporting and currently trades at $40.18 per share.
Is now the time to buy Simply Good Foods? Find out by reading the original article on StockStory.
Simply Good Foods (SMPL) Q1 FY2024 Highlights:
Market Capitalization: $3.95 billion
Revenue: $308.7 million vs analyst estimates of $309.3 million (small miss)
EPS (non-GAAP): $0.43 vs analyst estimates of $0.42 (3.4% beat)
Reaffirmed full year guidance
Free Cash Flow of $46.78 million, down 21% from the previous quarter
Gross Margin (GAAP): 37.3%, up from 36.9% in the same quarter last year
Best known for its Atkins brand that was inspired by the popular diet of the same name, Simply Good Foods (NASDAQ:SMPL) is a packaged food company whose offerings help customers achieve their healthy eating or weight loss goals.
Packaged FoodAs America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods, prepared meals, or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options.
Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.
Sales GrowthSimply Good Foods is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefitting from better brand awareness and economies of scale.
As you can see below, the company's annualized revenue growth rate of 11.8% over the last three years was impressive for a consumer staples business.
This quarter, Simply Good Foods's revenue grew 2.6% year on year to $308.7 million, falling short of Wall Street's estimates. Looking ahead, Wall Street expects sales to grow 7.4% over the next 12 months, an acceleration from this quarter.
Read Full Story »»»
DiscoverGold
Conagra (CAG) Misses Q2 Sales Targets
By: Investing | January 4, 2024
Packaged foods company Conagra Brands (NYSE:CAG) fell short of analysts' expectations in Q2 FY2024, with revenue down 3.2% year on year to $3.21 billion. It made a non-GAAP profit of $0.71 per share, down from its profit of $0.81 per share in the same quarter last year.
Key Takeaways from Conagra's Q2 Results This was an underwhelming quarter. Organic revenue growth was down and missed expectations, leading to a revenue miss. EPS beat, but the company lowered its full year outlook for EPS. Overall, the results could have been better. The company is down 2.6% on the results and currently trades at $28.5 per share.
Is now the time to buy Conagra? Find out by reading the original article on StockStory.
Conagra (CAG) Q2 FY2024 Highlights:
Market Capitalization: $13.99 billion
Revenue: $3.21 billion vs analyst estimates of $3.23 billion (0.8% miss)
EPS (non-GAAP): $0.71 vs analyst estimates of $0.68 (4.6% beat)
Free Cash Flow of $340.7 million, up 13.6% from the previous quarter
Gross Margin (GAAP): 26.4%, down from 27.8% in the same quarter last year
Organic Revenue was down 3.4% year on year (miss vs. expectations of down 2.1% year on year)
Sales Volumes were down 2.9% year on year
Founded in 1919 as Nebraska Consolidated Mills in Omaha, Nebraska, Conagra Brands today (NYSE:CAG) boasts a diverse portfolio of packaged foods brands that includes everything from whipped cream to jarred pickles to frozen meals.
Packaged FoodAs America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods, prepared meals, or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options.
Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.
Sales GrowthConagra is one of the larger consumer staples companies and benefits from a well-known brand, giving it customer mindshare and influence over purchasing decisions.
As you can see below, the company's annualized revenue growth rate of 1.9% over the last three years was weak as consumers bought less of its products. We'll explore what this means in the "Volume Growth" section.
This quarter, Conagra missed Wall Street's estimates and reported a rather uninspiring 3.2% year-on-year revenue decline, generating $3.21 billion in revenue. Looking ahead, Wall Street expects sales to grow 1.4% over the next 12 months, an acceleration from this quarter.
Volume GrowthRevenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is the lifeblood of a successful staples business as there’s a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive.
To analyze whether Conagra generated its growth from changes in price or volume, we can compare its volume growth to its organic revenue growth, which excludes non-fundamental impacts on company financials like mergers and currency fluctuations.
Over the last two years, Conagra's average quarterly sales volumes have shrunk by 1.9%. This decrease isn't ideal as the quantity demanded for consumer staples products is typically stable. Luckily, Conagra was able to offset fewer customers purchasing its products by charging higher prices, enabling it to generate 4.5% average organic revenue growth. We hope the company can grow its volumes soon, however, as consistent price increases (on top of inflation) aren't sustainable over the long term unless the business is really really special.
In Conagra's Q2 2024, sales volumes dropped 2.9% year on year. This result was a step in the right direction compared to its 8.4% year-on-year decline 12 months ago.
Read Full Story »»»
DiscoverGold
Mobileye (MBLY) expects chip supply glut to hit 2024 revenue, shares fall
By: Investing | January 4, 2024
(Reuters) -Self-driving technology company Mobileye Global (NASDAQ:MBLY) warned on Thursday that a pullback in orders from customers clearing excess inventory will batter its revenue this year, sparking a selloff in the shares of auto chip suppliers.
Shares of the Israel-based company, whose customers include Volkswagen (ETR:VOWG_p) and Porsche, tumbled 26.3% to $29.28 in premarket trading.
Mobileye forecast preliminary 2024 revenue below estimates showing that the automotive chip industry, which had so far avoided the chip supply glut crisis, will likely face a downturn too.
Shares of auto chipmakers such as NXP Semiconductors (NASDAQ:NXPI), Onsemi, Texas Instruments (NASDAQ:TXN) and Wolfspeed (NYSE:WOLF) were down between 2.0% and 3.8%.
"As supply chain concerns have eased, we expect that our customers will use the vast majority of this excess inventory in the first quarter of the year," Mobileye said.
The company expects revenue in the first quarter of the year to fall about 50% from a year earlier.
Estimating an excess supply of 6 million to 7 million units of its EyeQ advanced driver-assistance chips at its customers, Mobileye said it expects first-quarter profit to be "significantly below the subsequent quarters".
Mobileye, whose parent company is Intel (NASDAQ:INTC), forecast 2024 revenue between $1.83 billion and $1.96 billion, compared with estimates of $2.58 billion, according to LSEG data.
Read Full Story »»»
DiscoverGold
Cathie Wood & Ark Invest's yesterday's trade activity
By: Ark Invest Daily | January 3, 2024
• Cathie Wood bought some more Tesla $TSLA today
Ark Invest's trade activity from today 1/3.
Read Full Story »»»
DiscoverGold
DYN This is what killed my play, yesterday- along with insiders dumping in the morning. So crooked..
Dyne Therapeutics commences public offering of $175M shares of its stock
Jan. 03, 2024 4:29 PM ETDyne Therapeutics, Inc. (DYN) Stock
By: Sinchita Mitra, SA News Editor
Dyne Therapeutics (NASDAQ:DYN) said it has commenced an underwritten public offering of $175M of shares of its common stock.
The company said it also intends to grant the underwriters a 30-day option to purchase up to an additional $26.3M of shares of its common stock.
Shares in the company down 3.86% in after market trade.
Raymond James Maintains Strong Buy on Dyne Therapeutics, Raises Price Target to $56
BENZINGA
4:30 AM ET Jan-04-2024
Raymond James analyst Steven Seedhouse maintains Dyne Therapeutics (DYN.NaE) with a Strong Buy and raises the price target from $27 to $56.
Costco, MongoDB And 2 Other Stocks Insiders Are Selling
BENZINGA
7:46 AM ET Jan-03-2024
...................when insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
Costco Wholesale
The Trade: Costco Wholesale Corporation (COST.NaE) Daniel Hines sold a total of 1,400 shares at an average price of $662.81. The insider received around $927,934 from selling those shares.
What's Happening: Tigress Financial analyst Ivan Feinseth, last week, maintained Costco Wholesale (COST.NaE) with a Buy and raised the price target from $635 to $745.
What Costco Does: Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices.
ETFs w/ most active options trading:
By: Barchart | January 3, 2024
• ETFs w/ most active options trading:
$SPY - 7.7M
$QQQ - 3.6M
$IWM - 1.9M
$HYG - 506k
$TLT - 473k
$XLI - 364k
$EEM - 358k
$SLV - 291k
$TQQQ - 253k
$EWZ - 252k
$SQQQ - 251k
$ARKK - 244k
$MSOS - 210k
$GLD - 196k
$GDX - 183k
$FXI - 165k
$IEF - 163k
$SOXL - 143k
$EFA - 140k
Read Full Story »»»
DiscoverGold
Stocks w/ most active options trading:
By: Barchart | January 3, 2024
• Stocks w/ most active options trading:
$TSLA - 2.3M
$AAPL - 1.1M
$JPM - 970k
$NVDA - 832k
$AMD - 546k
$SOFI - 526k
$AMZN - 495k
$C - 472k
$BABA - 460k
$MARA - 435k
$MSFT - 315k
$PYPL - 261k
$COIN - 255k
$AMC - 242k
$META - 235k
$PLTR - 223k
Read Full Story »»»
DiscoverGold
Followers
|
1146
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
648882
|
Created
|
12/19/06
|
Type
|
Free
|
Moderators SkeBallLarry fuzzy DiscoverGold Tuff-Stuff MiamiGent |
DISCLAIMER:
1. DO THE MATH!!! - Before placing any trade, do the math. Where is the trigger? Where is the proper stop based on the chart setup? How many shares should I buy? This is easy to figure out. You never want to lose more than 1% of your trading account balance on any given trade. So, if you have a $30,000 account, your maximum acceptable loss on any given trade should be $300. If the stop is .20 cents below the entry price (again, based on the chart setup), then you should not buy more than 1500 shares (for the purpose of this lesson I have left commissions out of the equation for simplicity).
2. PAY YOURSELF!!! - Once you have a small profit (I use a dime as a rough personal guideline) sell part of your position and move your stop to breakeven on the rest. You will have very few losing trades if you do this, and the losses you do have will be small.
3. STOP TRADING!!! - What do I mean by this? If you hit your daily goal (everyone should have one and make it realistic) stop trading. Afternoons are tougher to trade than mornings anyway, so take the money and run....tomorrow is another day.
4. STOP TRADING!!! - Didn't we go over this already? Well, this one has another meaning. If you lose 1/2 the amount of your daily goal, stop trading and come back tomorrow. For instance, if your goal is to make $500 a day, and you are down $250 on the day, quit for the day. This is the best way to avoid falling into a 'trading death spiral'.
DOW 30 HEATMAP
http://www.stockmarketdrama.com/dow30heatmap.php
http://finviz.com/futures_charts.ashx?p=m5
This is a great free site to get some good info about technical analysis.
www.informedtrades.com/trades.php
http://stockcharts.com/school/doku.php?id=chart_school
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns
Charting tools
http://www.stockcharts.com
http://www.chartpatterns.com
http://stockcharts.com/education/IndicatorAnalysis/
http://www.investopedia.com/categories/technicalanalysis.asp
http://www.candlesticker.com/Default.asp
http://candlestickforum.com/PPF/Parameters/16_332_/candlestick.asp
http://www.incrediblecharts.com/technical/candlesticks.htm
http://www.chartpatterns.com/
http://www.investopedia.com/university/technical/techanalysis8.asp
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators
http://www.freestockcharts.com/
http://www.barchart.com/
Posts Today
|
0
|
Posts (Total)
|
648882
|
Posters
|
|
Moderators
|
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |