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Crude Oil had its biggest green day since the middle of November
By: Barchart | January 3, 2024
• Crude Oil had its biggest green day since the middle of November
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Russell 2000 $IWM close to filling the gap from December 13th. Will it fill and then resume moving higher or is a further correction awaiting?
By: Barchart | January 3, 2024
• Russell 2000 $IWM close to filling the gap from December 13th. Will it fill and then resume moving higher or is a further correction awaiting?
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Coca-Cola $KO has traded green for an 8th straight day, its longest winning streak since 2018
By: Barchart | January 3, 2024
• Coca-Cola $KO has traded green for an 8th straight day, its longest winning streak since 2018
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Starbucks $SBUX continues to fall apart. Missed the entire stock market rally from November-December and is trading lower than when its 12 Day losing streak, the longest in its history, ended in early December!
By: Barchart | January 3, 2024
• Starbucks $SBUX continues to fall apart. Missed the entire stock market rally from November-December and is trading lower than when its 12 Day losing streak, the longest in its history, ended in early December!
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ETFs Record Monthly Inflow: ETFs saw inflows of $135 billion during the month of December, an all-time high
By: Barchart | January 3, 2024
• ETFs Record Monthly Inflow: ETFs saw inflows of $135 billion during the month of December, an all-time high.
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The AAII Investor Sentiment
By: AAII | January 4, 2024
Bullish 48.6%
Neutral 27.9%
Bearish 23.5%
• Historical 1-Year High
Bullish: 52.9%
Neutral: 39.9%
Bearish: 50.3%
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Walgreens Boots (WBA) earnings beat by $0.03, revenue topped estimates
By: Investing | January 4, 2024
Walgreens Boots (NASDAQ: WBA) reported first quarter EPS of $0.66, $0.03 better than the analyst estimate of $0.63. Revenue for the quarter came in at $36.7B versus the consensus estimate of $34.88B.
Guidance
Walgreens Boots sees FY 2024 EPS of $3.20-$3.50 versus the analyst consensus of $3.32.
Walgreens Boots's stock price closed at $25.57. It is up 17.24% in the last 3 months and down -27.34% in the last 12 months.
Walgreens Boots saw 0 positive EPS revisions and 7 negative EPS revisions in the last 90 days. See Walgreens Boots's stock price’s past reactions to earnings here.
According to InvestingPro, Walgreens Boots's Financial Health score is "fair performance".
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Resources Connection (RGP) posts solid Q2 amid tough macro climate
By: Investing | January 4, 2024
In the face of a challenging economic landscape, Resources Connection, Inc. (NASDAQ:RGP) has reported a strong second quarter for the fiscal year ending November 25, 2023. The company's revenue landed in the higher end of their guidance range, and adjusted EBITDA surpassed expectations, largely due to stringent cost management. Veracity, RGP's digital transformation segment, saw sequential revenue growth, bolstered by the acquisition of CloudGo. The company's balance sheet remains robust, with $95.8M in cash and no debt. RGP's outlook for the third quarter includes revenue projections of $150M to $155M and anticipates a compressed gross margin due to seasonal effects.
Key Takeaways
RGP reported revenue within the stronger half of its guidance and an adjusted EBITDA that exceeded forecasts.
Veracity, the digital services division, expanded through the acquisition of CloudGo and saw sequential revenue growth.
The company's balance sheet is strong, with significant cash reserves and no outstanding debt.
RGP's pricing initiative in the U.S. led to a 1.3% year-over-year increase in bill rate.
The company is focusing on diversification, talent strategies, and technology transformation for the remainder of the fiscal year.
RGP expects third-quarter revenue between $150M and $155M, with a compressed gross margin.
Company Outlook
RGP anticipates third-quarter revenue to be in the range of $150M to $155M.
The company plans to continue investing in its business, with a capital allocation focus on disciplined M&A strategies and returning cash to shareholders.
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Oil prices rise more than 3% as U.S. warns Houthis against Red Sea attacks, OPEC pledges unity ...
Stock futures rebound slightly after Nasdaq falls for fourth straight day ,,,
Costco The grocery/retail chain posts December sales tomorrow.
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The stock is up 8% in a month, and it's 5.5% from the Dec. 18th 52-week high.
https://stockcharts.com/h-sc/ui?s=COST
Microsoft, ExxonMobil, Apple, JPMorgan and Johnson & Johnson were the top dividend payers last year.
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Social Security benefits increasing this month due to higher cost of living. Here's the payment calendar
Candy Woodall
USA TODAY
Social Security recipients are getting a raise.
More than 71 million Americans will see a 3.2% increase in their Social Security checks in 2024. That increase, which adds a more than $50 a month on average, hit some checks Friday and will continue this month and throughout the year.
The raise is a cost-of-living adjustment the Social Security Administration says will help recipients keep up with expenses. It's the third year in a row inflation has prompted an increase in benefit payments, though the previous two years were larger: a historic 8.7% increase in 2023 and a 5.9% increase in 2022.
Americans receiving Social Security and Supplemental Security Income (SSI) will see the increase. People who receive both Social Security and SSI will see cost-of-living increases to both benefits.
As of November, the average monthly Social Security benefit was $1,711, and the average monthly SSI benefit was $674, according to the Social Security Administration. The cost-of-living adjustment would add to those amounts.
Social Security payment calendar
Social Security benefits are paid out based on the day of a recipient's birth.
For example:
Beneficiaries born from the 1st and 10th of the month will receive payments on the second Wednesday of the month. The first cost-of-living increase will be received in checks on Jan. 10.
Beneficiaries born from the 11th to the 20th of the month will receive payments on the third Wednesday of the month. The first cost-of-living increase will be received in checks on Jan. 17.
Beneficiaries born from the 21st to the 31st of the month will receive payments on the fourth Wednesday of the month. The first cost-of-living increase will be received in checks on Jan. 24.
SSI benefits are typically paid on the first of the month. But because Jan. 1 is a federal holiday, checks were distributed the Friday before. SSI recipients saw their first cost-of-living increase on Dec. 29.
2 of 11 sectors closed green. Energy (+1.63%) led, & real estate (-2.37%) lagged.
TDRip
Apple and the RSI
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Apple fell again today, losing roughly 0.8%.
It is now about 8% from the high hit Dec. 14.
The relative strength index reading on the stock is now down to 35. The RSI is one metric traders and investors might look at to tell if a stock has run up very quickly. A reading of 70 and above indicates a stock may be overbought, and anything below 30 is seen as oversold.
Apple hasn’t seen an RSI this low since late October. Back then, the stock price began a roughly 18% jump over the next seven weeks
Paypal $PYPL chart not looking great. 3 rejections at the 200D moving average over the last year and now dumping through its support level.
By: Barchart | January 3, 2024
• Paypal $PYPL chart not looking great. 3 rejections at the 200D moving average over the last year and now dumping through its support level.
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Crude oil, energy stocks bounce sharply after shutdown at major Libyan oilfield
Jan. 03, 2024 4:15 PM ET Energy Select Sector SPDR® Fund ETF (XLE), USOUCO, VLO, COP, HES, WMB, DVN, TTE, CVX, EOG, MRO, DBO, USL, SCO, BNO, REPYY, OMVJF, REPYF, MPC, FANG, GUSH, DRIP, USOI, EQNR, NRGU, CO1:COM, CL1:COM
By: Carl Surran, SA News Editor
Data analyzing in commodities energy market: the charts and quotes on display. US WTI crude oil price analysis. Stunning price drop for the last 20 years.
SlavkoSereda/iStock via Getty Images
Energy (NYSEARCA:XLE) was Wednesday's easy winner of the S&P stock sector standings, +1.6%, supported by a strong rebound in crude oil futures after protests in Libya shut down the 300K bbl/day Sharara oil field, adding to fears that mounting tensions in the Middle East could disrupt global oil supplies.
A group of people entered the field in 20 vehicles, demanding jobs, services and a new refinery, according to reports.
Operations at Sharara - which is run by a joint venture between Libya's National Oil Company and Spain's Repsol (OTCQX:REPYF) (OTCQX:REPYY), France's TotalEnergies (TTE), Austria's OMV (OTCPK:OMVJF) and Norway's Equinor (EQNR) - also were halted by protesters in July.
Front-month Nymex crude (CL1:COM) for February delivery settled +3.3% to $72.70/bbl, and front-month Brent crude (CO1:COM) closed +3.1% to $78.25/bbl, as both benchmarks snapped four-session losing streaks.
Ten of the day's top 15 gainers on the S&P 500 were in the oil and gas sector: Marathon Petroleum (MPC) +3.6%, EOG Resources (EOG) +2.8%, Valero Energy (VLO) +2.3%, Williams Cos. (WMB) +2.2%, Devon Energy (DVN) +2.1%, Marathon Oil (MRO) +2.1%, Hess (HES) +2.1%, Diamondback Energy (FANG) +2%, ConocoPhillips (COP) +2%, Chevron (CVX) +1.9%.
ETFs: (NYSEARCA:USO), (BNO), (UCO), (SCO), (USL), (DBO), (DRIP), (GUSH), (NRGU), (USOI)
In the Red Sea, Iran-backed Houthi rebels continued to attack vessels Wednesday, sparking continued concerns over the potential for a wider Middle East war that could close crucial oil transport waterways such as the Red Sea and Persian Gulf.
The U.S. and key allies issued what officials described as a final warning to the Houthis to cease its attacks on international shipping or "bear the responsibility of the consequences."
In Iran, two explosions killed more than 100 people at a ceremony to commemorate commander Qassem Soleimani, who was killed by a U.S. drone in 2020.
In another sign the crude market remains well supplied, nearby time spreads for Brent crude flipped into a bearish contango structure, with nearby prices cheaper than later ones, an indication that tends to indicate a market surplus.
Sweden just had the COLDEST January night of the century
A frosty -43,6C was recorded, the coldest since 1999
PETER IMANUELSEN
petersweden@substack.com>
JAN 3, 2024
Let’s take a look at what the media was saying about climate change in 2006…
"Snow is on it's way to be gone forever...In twenty years, large parts of Sweden will have forgotten how to ski" - That is what was said in a news article written in Swedish mainstream media in 2006.
How did that prediction turn out?
Very, very wrong. In fact, Sweden just had the COLDEST January night of the century. We have to go all the way back to 1999 to find a colder night.
It was a chilly -43,6C in the city of Kvikkjokk-Årrenjarka last night. In fact, this is the coldest temperature EVER RECORDED at that weather station since records began in 1888!
But that is not all!
Turns out that for the 3rd year in a row, December has been colder than normal in Sweden.
And now it's being predicted that there will be -25C in Oslo, Norway in a few days. If that turns out to be correct, it will be the coldest day there since 1979.
It's been so cold in Oslo lately that the new electric busses have been struggling, with busses being cancelled.
"It is the cold that does so that the range on the electric busses isn't as good as it is usually. The busses run out of electricity quicker" - said communication director at Ruter, Cathrine Myhren-Haugen.
What is going on, is this the global warming that I was promised?
New York Fed Chief Says Central Bankers Aren't Really Talking About Rate Cuts
Breitbart Business Digest
by John Carney - Breitbart Economics Editor
and Alex Marlow - Breitbart Editor-In-Chief
December 15, 2023
The Implausible Silence of the Fed
Now they are just messing with us.
Two days ago, the Federal Reserve's "dovish pivot" sent financial markets into a frenzy. The Fed's summary of economic projections showed that the median forecast of Fed officials for the federal funds rate at the end of next year fell to 4.6 percent, 50 basis points below where it was in the September projections and 75 basis points lower than today's rate.
This sent stocks soaring, pushing the Dow Jones Industrial Average to a new all-time high, and bond yields falling. Stocks of smaller public companies mounted to the sky, propelling the Russell 2000 up 6 percent in two days to a gain of more than 19 percent for this year.
The ten-year Treasury yield dropped by around thirty basis points and is now below four percent. The two-year fell by 60 basis points. The fed funds futures market went from pricing in four or five cuts next year to six or seven.
Apparently, the Fed was not all that pleased at these visions of sugar plums dancing in the heads of bond and equities traders. On Friday morning, New York Federal Reserve President John Williams went on CNBC's Squawk Box to declare that rate cuts are not a topic of discussion at the moment for the central bank.
“We aren’t really talking about rate cuts right now,” Williams said.“We’re very focused on the question in front of us, which as Chair Powell said… is have we gotten monetary policy to [a] sufficiently restrictive stance in order to ensure the inflation comes back down to two percent? That’s the question in front of us.”
That statement stretches credibility beyond the breaking point. Back in September, just nine Fed officials thought the year-end 2024 fed funds rate would be below five percent. Now 16 officials do. Ten officials in September put in projections above five percent, including two who penciled in the rate as being even higher than it is now. Now just three see the rate staying above five percent, and none foresee a further increase.
Williams would apparently have us believe that Fed officials significantly moved their projections for their interest rate target while operating under some sort of monastic vow of silence.
But Powell Said They Were Discussing the Timing of Cuts
And then there's the little matter of Fed Chief Jerome Powell's words at his press conference on Wednesday. (Emphasis added and we're sorry for the word salad below, but that's just the way Powell speaks these days.)
So the way we're looking at it is really this. When we started out, right, we said the first question is how fast to move, and we moved very fast. The second question is, you know, really, how high to raise the policy rate, and that's really the question that we're still on here. We're very focused on that. As I mentioned, people generally think that we're at or near that and think it's not likely that we will hike, although they don't take that possibility off the table. So that's -- when you get to that question, and that's your answer, there's a natural -- naturally it begins to be the next question, which is when it will become appropriate to begin dialing back the amount of policy restraint that's in place. So that's really the next question, and that's what people are thinking about and talking about. And I would just say this, we are seeing, you know, strong growth that appears to be moderating, We're seeing a labor market that is coming back into balance by so many measures, and we're seeing inflation making real progress. These are the things we've been wanting to see. We can't know -- we still have a ways to go. No one is declaring victory. That would be premature, and we can't be guaranteed of this progress. So, we're moving carefully in making that assessment of whether we need to do more or not. And that's really the question that we're on, but of course, the other question, the question of when will it become appropriate to begin dialing back the amount of policy restraint in place, that begins to come into view, and is clearly a topic of discussion out in the world and also a discussion for us at our meeting today.
In other words, they were definitely talking about rate cuts.
Powell absolutely hates the emphasis the market places on the summary of economic projections. He frequently goes to great lengths to insist that these are the individual projections of participants in the Federal Open Market Committee meeting and not official projections. The projections are not even debated. But there was some discussion of the cuts.
Here's Powell at the press conference again:
So it comes up in this way today. Everybody wrote down an SEP forecast. So many people mentioned what their rate forecast was, and there was no back and forth, no attempt to sort of reach agreement, like this is what I wrote down, this is what I think, that kind of thing. And a preliminary kind of discussion like that, not everybody did that, but many people did. And then, and I would say there's a general expectation that this will be a topic for us looking ahead. That's really what happened in today's meeting. I can't do the head count for you in real time, but that's generally what happened today.
The market certainly did not take Williams seriously. It is still pricing in around a 75 percent chance of a Fed cut in March and around a 15 percent chance of a January cut. There's nearly a one-in-three chance that the Fed cuts 175 basis points next year, which would be the equivalent of a quarter point cut at every meeting after January.
We will get the official minutes of the Fed meeting in a few weeks. It would be shocking if they support Williams' claim that officials did not discuss rate cuts.
U.S. weekly rail traffic jumps 3.4% year-over-year
Jan. 03, 2024 5:51 PM ET CNI, CP, CSX, NSC, UNP, BRK.A, BRK.B, BIP, BIPC
By: Vansh Agarwal, Seeking Alpha News Editor
The Association of American Railroads [AAR] reported on Wednesday that for the week ending December 30, 2023, U.S. rail traffic was 370,800 carloads and intermodal units, up 3.4% year-over-year.
Total carloads for the week rose 4.1% to 182,062 carloads, while U.S. weekly intermodal volume was 188,738 containers and trailers, rising 2.7%.
Six of the 10 carload commodity groups posted a year-over-year increase for the week. They included chemicals, farm products excl. grain, and food, and petroleum and petroleum products.
Commodity groups that fell year-over-year for the week included motor vehicles and parts, miscellaneous carloads, and nonmetallic minerals.
North American rail volume for the week, on 12 reporting U.S., Canadian and Mexican railroads was 270,807 carloads, up 5% year-over-year, and 254,475 intermodal units, up 3.8%.
Canadian railroads reported 75,463 carloads for the week, up 9.9%, and 56,220 intermodal units, up 6.4%.
Mexican railroads reported 13,282 carloads for the week, down 8.1%, and 9,517 intermodal units, up 13.1%.
Related Tickers: Canadian Pacific Railway (CP), Canadian National Railway (CNI), CSX Corp. (CSX), and Union Pacific (UNP), Berkshire Hathaway (BRK.A) (BRK.B), Norfolk Southern (NSC), and Brookfield Infrastructure Partners (BIP) (BIPC)
Trump Asks Supreme Court to Overturn His Removal From Colorado Primary Ballot
Appeal was expected as states differ on whether 14th Amendment provision barring insurrectionists from federal office applies to former president
By Jan Wolfe and Jess Bravin for the Wall Street Journal
Updated Jan. 3, 2024 5:37 pm ET
(MG Note: There are many grounds for the US Supreme Court to overrule the Colorado and Maine actions to bar Trump from the ballot)
Donald Trump has asked the Supreme Court to weigh in on whether the 14th Amendment bars him from being on the primary ballot in Colorado. WSJ explains the history behind the law and how its lack of jurisprudence leaves a lot of questions.
WASHINGTON—Former President Donald Trump asked the U.S. Supreme Court to overturn the decision by Colorado’s highest court that removed him from the state’s 2024 presidential primary ballot because of his actions surrounding the Jan. 6, 2021, riot at the U.S. Capitol.
“In the context of the history of violent American political protests, Jan. 6 was not insurrection and thus no justification for invoking Section 3,” Trump’s brief argues, referring to the 14th Amendment provision barring individuals who engaged in insurrection or rebellion after swearing an oath to the Constitution from holding public office.
The brief cited Trump’s use of the word “peaceful” several times in his public statements on Jan. 6 to rebut findings by Colorado courts that he engaged in insurrection by encouraging a mob of his supporters to attack the Capitol where Congress was meeting to certify President Biden’s victory in the November 2020 election.
Additionally, Trump argued that it is for Congress rather than state courts to determine whether Section 3’s conditions are met and that the president shouldn’t be classified as an officer of the U.S. for 14th Amendment purposes.
The justices, the brief said, should “summarily reverse the Colorado Supreme Court’s ruling, and return the right to vote for their candidate of choice to the voters.”
Eric Olson, a lawyer representing Republican and independent voters in Colorado who sought Trump’s disqualification, promised a vigorous defense of the state court’s decision. “We are reviewing Trump’s appeal and will be filing our response tomorrow to ensure the Colorado Supreme Court’s historic ruling stands,” Olson said.
Trump had said he would appeal the state court’s historic Dec. 19 ruling, which deemed him an insurrectionist and therefore ineligible to hold public office. The Colorado court halted its ruling from taking effect until Thursday to give the former president and current Republican front-runner an opportunity to appeal. The Colorado Republican Party earlier asked the Supreme Court to reverse the ruling.
The high court is widely expected to agree to hear Trump’s appeal to provide clarity on Trump’s eligibility, which has divided state judges and officials.
Michigan’s Supreme Court ruled on Dec. 27 that Trump could appear on the ballot in that closely contested state, and California has kept the former president on its primary ballot. But Maine’s top election official, a Democrat, on Dec. 28 barred Trump from appearing on that state’s primary ballot. Trump lodged an appeal of that decision in a Maine state court on Tuesday.
“The court can’t let state supreme courts make a patchwork of decisions,” said Jessica Levinson, a professor at Loyola Law School in Los Angeles, after Colorado’s Dec. 19 ruling. “The case brings up an important federal constitutional question with time-sensitive consequences. They will need to act, and act quickly.”
Trump’s lawyers say he was denied due process in the Colorado proceedings and is being penalized for constitutionally protected free speech. They argue the Colorado Supreme Court’s 4-3 decision sets a dangerous precedent that could embolden state election officials around the country to disqualify candidates for partisan reasons.
The Colorado case is one of a handful around the country that considered whether the Republican front-runner should be barred from the ballot under Section 3 of the 14th Amendment. Enacted after the Civil War, the provision disqualifies from public office those who swore to defend the Constitution and then “engaged in insurrection or rebellion” against the U.S.
The Colorado Supreme Court’s ruling threw an unexpected jolt of uncertainty into the 2024 presidential contest and placed the U.S. Supreme Court in the uncomfortable position of having to resolve unprecedented legal issues that also ignite strong political passions among the nation’s electorate, as it did in Bush v. Gore in 2000.
In the Colorado case, a group of voters alleged that Trump’s speeches, social-media posts and other statements in the run-up to Jan. 6 incited the riot, in which Trump supporters attempted to block Congress from certifying Joe Biden’s election as president.
Trump’s legal team has argued the challenge and others like it are antidemocratic attempts to prevent voters from deciding the next occupant of the White House.
Michigan’s highest court declined to review lower-court rulings that deemed the insurrectionist issue a political question that couldn’t be resolved by the courts. Trump has prevailed in a handful of early rulings in other states, including in Minnesota, whose supreme court in November rejected a bid to keep Trump off the primary ballot, saying that election served the GOP’s “internal party purposes.”
Wall St notches second lower finish as 2024 starts with profit-taking
BY David French, REUTERS
(Reuters) - U.S. stock indexes ended the second session of the year down again in extended profit-taking on Wednesday after a strong finish to 2023, with minutes from the Federal Reserve's December meeting failing to shake off the funk hanging over markets.
It was the first time the benchmark S&P 500 index has started the year with two straight declines since it kicked off 2015 with a three-session skid. It is also its worst two-day result, on a percentage basis, since late-October.
(con't)
Stock market news today: Stocks extend losses to start new year as Nasdaq slides over 1%
Josh Schafer and Karen Friar for Yahoo Finance
Wed, Jan 3, 2024, 5:10 PM EST
US stocks slid on Wednesday as optimism for fast interest-rate cuts waned amid fresh jobs data and minutes from the latest Federal Reserve meeting showed the timing of rate cuts remains uncertain.
The Dow Jones Industrial Average (^DJI) fell more than 0.7%, or 285 points, while the benchmark S&P 500 (^GSPC) slipped about 0.8%. The Nasdaq Composite (^IXIC) dropped nearly another 1.2% the day after a bruising session that saw tech stocks shed almost 1.6%.
Further signs of a cooling US labor market greeted investors on Wednesday. New data from the Bureau of Labor Statistics showed there were 8.79 million job openings at the end of November, the lowest level since March 2021. Economists surveyed by Bloomberg had expected 8.82 million openings.
Hopes that the year-end market rally would roll on into 2024 has taken a battering as stock indexes and bond prices sank in tandem for their worst start to a year in decades. Bonds headed lower for fourth day in a row, pushing the 10-year Treasury yield (^TNX) up near 4% before reversing course in the afternoon. The 10-year Treasury yield closed Wednesday at roughly 3.91%.
Stocks were little changed after the release of the minutes from the most recent Federal Reserve meeting on Wednesday afternoon. The minutes revealed Fed officials believe "upside risks" to inflation have diminished.
"Almost all participants indicated that ... a lower target range for the federal funds rate would be appropriate by the end of 2024," the minutes said.
LHX L3Harris Technologies awarded $479M USSOCOM contract
Jan. 03, 2024 5:37 PM ET
By: Jaskiran Singh, SA News Editor
https://stockcharts.com/h-sc/ui?s=LHX
L3Harris Technologies (NYSE:LHX) Wednesday was awarded a $479M indefinite-delivery/indefinite-quantity, firm-fixed-price contract with seven one-year ordering periods.
The contract entailed the continued procurement of next-generation tactical communications radios and associated sustainment and support services as required in support of U.S. Special Operations Command.
I felt like I was fighting the market in my play, today.
Repost: The Dow into January 2024
By: Marty Armstrong | December 8, 2023
We can see that August was indeed the high, and we got the traditional 2-month correction into an October low. The market has bounced, rising to retest resistance. The Stochastic is warning that this bounce is not really sustainable just yet. With the geopolitical wars, 2024 being the Year from Political Hell with Elections around the world, including Europe, Russia, and the USA, there is a lot of uncertainty out there...
Note that next week is a Panic Cycle, and the market has lost some luster with the Stochastic turning down; the prospect of this moving down into perhaps the target week of January 15th is still realistic. Note the Directional Change and Panic Cycle the week of Feb 5th.
It appears that a low in January would be more bullish for 2024 than a high. It looks like choppiness and uncertainty thereafter into May and the turning point on the ECM. So stay alert. Do not assume anything for it does not appear to be sustainable.
Today's heat map: https://finviz.com/map.ashx
Crude Oil
72.90 +3.58%
Gold
2,049.00 -1.18%
US 10 Year
39.07 -0.99%
CLOSE
DJIA
37,430.19
-284.85 (-0.76%)
NASDAQ
14,592.21
-173.73 (-1.18%)
S&P 500
4,704.81
-38.02 (-0.80%)
CLOSE
All these stocks hit new 52 week highs at some point today
By: Evan | January 3, 2024
• All these stocks hit new 52 week highs at some point today
Citi $C
Waste Management $WM
$AIG
Allstate $ALL
Amgen $AMGN
Check Point $CHKP
General Dynamics $GD
$GSK
Marathon Petroleum $MPC
OneOk $OKE
Petrobras $PBR
Regeneron $REGN
T-Mobile $TMUS
Vertex $VRTX
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Bank Earnings, Inflation Data on Tap Next Week
By: Schaeffer's Investment Research | January 3, 2024
• Fed President John Williams is set to deliver remarks
• Both CPI and PPI readings are coming
While 2024 is just getting started, next week will shake things up with a slew of inflation data, including consumer price index (CPI) and producer price index (PPI) readings. The earnings docket starts to fill up toward the end of the week as well as bigwigs barge into the confessional, including Bank of America (BAC), Citigroup (C), Delta Air Lines (DAL), JPMorgan Chase (JPM), Tilray (TLRY), UnitedHealth (UNH), and Wells Fargo (WFC).
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
Consumer credit data is on tap for Monday, Jan. 8.
Tuesday, Jan. 9 will bring trade deficit data.
Wholesale inventories are due out on Wednesday, Jan. 10, before New York Federal Reserve President John Williams delivers remarks.
Thursday, Jan. 11 features jobless data, as well as CPI and core CPI readings.
The PPI and core PPI readings are slated for Friday, Jan. 12.
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Top Stock Picks for 2024: Dropbox (DBX)
By: Schaeffer's Investment Research | January 3, 2024
• There's still a lot of pessimism surrounding outperforming DBX
• DBX's collaboration with NVDIA could be a tailwind in 2024
Every day for the next three weeks, we're going to highlight one of Schaeffer's top 12 picks for 2024. First up, we have software stock Dropbox Inc (NASDAQ:DBX). To access the entirety of the 2023 report, click here.
Software stock Dropbox (DBX) is knocking at the $10 billion valuation plateau around $29 for the sixth time in the last six months. The company -- which has begun collaborating with semiconductor stalwart NVIDIA (NVDA) -- reported a top-line beat for the third quarter that also included an upwardly-revised fiscal year revenue outlook. On the charts, DBX boast's a 23% 12-month gain that easily outflanks the SPDR S&P 500 ETF Trust's (SPY) year-over-year return of 18%. The shares are breaking through a downtrend on the monthly/weekly timeframes, with recent consolidation coming on the bull side of this trendline.
Despite the outperformance, six of the 11 brokerages in coverage maintain "hold" or "sell" ratings. Short interest, meanwhile, is up 50% year-to-date even as DBX rallied, underscoring technical strength. And with 7.6% of the stock's total available float still sold short, there's ample room for a short squeeze to keep tailwinds blowing.
In the options pits, Dropbox stock's Schaeffer's put/call open interest ratio (SOIR) ranks in the 78th percentile of the past 12 months, while four of the top five OI positions are puts. With puts outnumbering calls using all expiries, an unwinding of this pessimism could push DBX higher in 2024.
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Wayfair (W) Stock Trades Down, Here Is Why
By: Investing | January 3, 2024
What Happened: Shares of online home goods retailer Wayfair (NYSE: NYSE:W) fell 6% in the morning session after minutes from the December 2023 Fed meeting revealed that there is uncertainty regarding rate cuts in 2024. The committee added in the meeting remarks "In discussing the policy outlook, participants viewed the policy rate as likely at or near its peak for this tightening cycle, though they noted that the actual policy path will depend on how the economy evolves."
As a reminder, the Fed hinted at a more accommodative interest rate stance last month, signaling three quarter-point rate cuts in 2024 as a result of taming inflation. Today, the minutes showed that the path forward may not be as smooth or predictable as the markets may have thought. As a rule of thumb, the market dislike uncertainty and increases in uncertainty tend to be followed by volatility.
As a reminder, the driver of a stock's value is the sum of its future cash flows discounted back to today. With lower interest rates, investors can apply higher valuations to their stocks. No wonder so many in the investment community are optimistic about 2024. We at StockStory are not macro prognosticators. Instead, we think there are opportunities to pick market-beating stocks in any macro backdrop. We remain steadfast in our view that it's best to own high-quality companies with margins of safety over the long term in any market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Wayfair? Find out by reading the original article on StockStory.
What is the market telling us: Wayfair's shares are very volatile and over the last year have had 65 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 8 months ago, when the stock gained 18.1% on the news that the company reported first-quarter results that exceeded analysts' revenue and earnings per share (EPS) expectations. Active customers also came in above estimates. The company nearly broke even on adjusted EBITDA, with management expecting to have positive Adjusted EBITDA in the second quarter. Improving profitability is a welcome dynamic for the stock. Overall , it was a strong quarter.
At $54.57 per share, Wayfair is trading 35.6% below its 52-week high of $84.67 from August 2023. Investors who bought $1,000 worth of Wayfair's shares 5 years ago would now be looking at an investment worth $645.07.
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Why MACOM (MTSI) Shares Are Sliding Today
By: Investing | January 3, 2024
What Happened: Shares of network chips maker MACOM Technology Solutions (NASDAQ: MTSI) fell 5% in the afternoon session after minutes from the December 2023 Fed meeting revealed that there is uncertainty regarding rate cuts in 2024. The committee added in the meeting remarks "In discussing the policy outlook, participants viewed the policy rate as likely at or near its peak for this tightening cycle, though they noted that the actual policy path will depend on how the economy evolves."
As a reminder, the Fed hinted at a more accommodative interest rate stance last month, signaling three quarter-point rate cuts in 2024 as a result of taming inflation. Today, the minutes showed that the path forward may not be as smooth or predictable as the markets may have thought. As a rule of thumb, the market dislike uncertainty and increases in uncertainty tend to be followed by volatility.
As a reminder, the driver of a stock's value is the sum of its future cash flows discounted back to today. With lower interest rates, investors can apply higher valuations to their stocks. No wonder so many in the investment community are optimistic about 2024. We at StockStory are not macro prognosticators. Instead, we think there are opportunities to pick market-beating stocks in any macro backdrop. We remain steadfast in our view that it's best to own high-quality companies with margins of safety over the long term in any market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy MACOM? Find out by reading the original article on StockStory.
What is the market telling us: MACOM's shares are somewhat volatile and over the last year have had 6 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 8 months ago, when the company dropped 5.2% on the news that the company reported second-quarter results that narrowly beat analysts' revenue, operating income, and earnings per share (EPS) expectations. However, free cash flow missed, and inventory levels increased. In addition, revenue and EPS guidance for the next quarter were below Consensus estimates and management noted that "the second half is expected to be more challenging." It was a mixed but overall negative quarter given the outlook.
At $84.79 per share MACOM is trading 11.2% below its 52-week high of $95.51 from December 2023. Investors who bought $1,000 worth of MACOM's shares 5 years ago would now be looking at an investment worth $5,997.
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Why Appian (APPN) Shares Are Getting Obliterated Today
By: Investing | January 3, 2024
What Happened: Shares of low code software development platform provider Appian (Nasdaq: NASDAQ:APPN) fell 5.6% in the afternoon session after minutes from the December 2023 Fed meeting revealed that there is uncertainty regarding rate cuts in 2024. The committee added in the meeting remarks "In discussing the policy outlook, participants viewed the policy rate as likely at or near its peak for this tightening cycle, though they noted that the actual policy path will depend on how the economy evolves."
As a reminder, the Fed hinted at a more accommodative interest rate stance last month, signaling three quarter-point rate cuts in 2024 as a result of taming inflation. Today, the minutes showed that the path forward may not be as smooth or predictable as the markets may have thought. As a rule of thumb, the market dislike uncertainty and increases in uncertainty tend to be followed by volatility.
As a reminder, the driver of a stock's value is the sum of its future cash flows discounted back to today. With lower interest rates, investors can apply higher valuations to their stocks. No wonder so many in the investment community are optimistic about 2024. We at StockStory are not macro prognosticators. Instead, we think there are opportunities to pick market-beating stocks in any macro backdrop. We remain steadfast in our view that it's best to own high-quality companies with margins of safety over the long term in any market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Appian? Find out by reading the original article on StockStory.
What is the market telling us: Appian's shares are very volatile and over the last year have had 24 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 2 months ago, when the stock dropped 5.9% on the news that the company reported third quarter results with revenue and adjusted EBITDA guidance for the next quarter falling below Wall Street's expectations. Similarly, its full-year revenue guidance slightly missed Wall Street's estimates. In addition, the company continued to burn cash.
On the other hand, revenue and adjusted EPS beat expectations during the quarter, and we enjoyed seeing Appian materially improve its gross margin.
Overall, this was a mediocre quarter for Appian.
At $33.13 per share, Appian is trading 38.5% below its 52-week high of $53.90 from June 2023. Investors who bought $1,000 worth of Appian's shares 5 years ago would now be looking at an investment worth $1,296.
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Wall St stays weaker with muted reaction to Fed minutes
By: Investing | January 3, 2024
(Reuters) -U.S. stock indexes extended losses for a second straight day on Wednesday as investors locked in profits after a strong 2023, with the release of minutes from the latest Federal Reserve meeting failing to shake off the funk hanging over markets.
Fed policymakers appeared increasingly convinced at their December meeting that inflation was coming under control, with "upside risks" diminished and growing concern about the damage that "overly restrictive" monetary policy might do to the economy, minutes of that rate-setting meeting showed.
The minutes shed little light on when rate cuts might commence.
At 2:07 p.m. ET, the Dow Jones Industrial Average was down 210.67 points, or 0.56%, at 37,504.37, the S&P 500 was down 29.67 points, or 0.63%, at 4,713.16, and the Nasdaq Composite was down 148.6 points, or 1.01%, at 14,617.34.
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A bearish divergence for the % of stocks > 10-day MAs
By: Mike Zaccardi | January 3, 2024
• A bearish divergence for the % of stocks > 10-day MAs.
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More complacent put/call ratios also a tactical risk
By: Mike Zaccardi | January 3, 2024
• More complacent put/call ratios also a tactical risk.
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Pfizer Inc (PFE) Stock the Worst to Own in January, Historically
By: Schaeffer's Investment Research | January 3, 2024
• PFE had a rocky 2023, and could stumble to start 2024
• Pfizer stock's rally from 10-year lows could be short-lived, if past is precedent
Pfizer Inc (NYSE:PFE) stock moved steadily lower in 2023, closing 11 out of 12 months lower, with March as the only gainer. Though the shares have been on the rise since their Dec. 13 10-year low of $25.76 -- a result of the company's disappointing 2024 forecast -- PFE might not be in the clear just yet.
Per data from Schaeffer's Senior Quantitative Analyst Rocky White, Pfizer stock is at the top of the list of the worst stocks to own in January. In the past 10 years, the equity has finished lower eight times, averaging a 4% loss. A comparable move from its current perch at $29.86 would send PFE back toward its all-time lows. Furthermore, long-term pressure at the 60-day moving average is still in place.
An unwinding of optimism could provide headwinds as well. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day call/put volume ratio of 6.22 ranks higher than all other readings from the past year.
Options look like a good way to go when weighing in on Walgreens. Its Schaeffer's Volatility Scorecard (SVS) of 78 out of 100 means the stock usually exceeds volatility expectations.
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Buffett Valuation Indicator: December 2023
By: Jennifer Nash | January 3, 2024
• Note: This update incorporates the Q3 GDP final estimate and the December close data. Please note that this update follows GDP releases, which always lag.
The Buffett Indicator, also known as Market Capitalization to GDP Ratio is a long-term valuation indicator for stocks that has become popular in recent years, thanks to Warren Buffett. Back in 2001, he remarked in a Fortune Magazine interview that "it is probably the best single measure of where valuations stand at any given moment." It is a measure of the total market value of all publicly-traded stocks in a country divided by the country's GDP and can be used as a way to assess whether the country's stock market is undervalued, fair valued, or overvalued.
The four valuation indicators we track in our monthly valuation overview offer a long-term perspective of well over a century. The raw data for the "Buffett Indicator" only goes back as far as the middle of the 20th century. Quarterly GDP dates from 1947, and the Fed's balance sheet has quarterly updates beginning in Q4 1951. With an acknowledgment of this abbreviated timeframe, let's take a look at the plain vanilla quarterly ratio with no effort to interpolate monthly data.
Buffett Indicator: The Latest Data
With the Q3 GDP final estimate and the December close data, we now have an updated look at the popular "Buffett Indicator" -- the ratio of corporate equities to GDP. The current reading is 167.3%, down from 178.3% the previous quarter.
Here is a more transparent alternate snapshot over a shorter timeframe using the Wilshire 5000 Price Index divided by GDP. We've used the St. Louis Federal Reserve's FRED repository as the source for the stock index numerator (WILL5000PR). The Wilshire index is a more intuitive broad metric of the market than the Fed's rather esoteric "nonfinancial corporate business; corporate equities; liability, level". I've noticed some folks use lagging GDP figures to estimate the current Buffett indicator figures - in other words, people have used the current numerator and the lagging GDP figure in the calculation, which is not accurate. I have chosen to use data from the concurrent time period for all series.
A quick technical note: To match the quarterly intervals of GDP, for the Wilshire data I've used the quarterly average of daily closes rather than quarterly closes (slightly smoothing the volatility) when the latest data is not yet available.
Buffett Indicator and Wilshire 5000: How well do the two views match?
The first chart above uses Fed data back to the middle of the last century for the numerator, the second uses the Wilshire 5000, the data for which only goes back to 1971. The Wilshire is the more familiar numerator, but the Fed data gives us a longer timeframe. And those early decades, when the ratio was substantially lower, have definitely impacted the trend.
To illustrate the point, here is an overlay of the two versions over the same timeframe. The one with the Fed numerator has a tad more upside volatility, but they're singing pretty much in harmony.
Buffett Indicator: De-trending the Data
A conspicuous feature of the Buffett indicator is the upward trend over the decades since the start of the data series. For a better sense of valuation over time, let's de-trend the data by letting Excel draw a regression through the series and eliminating the upward trend. First, let's draw the regression through the series.
Now let's de-trend and add standard deviations.
The current Buffett Indicator value of 167.3% is 1.4 standard deviations above the trend line, indicating the market is overvalued.
Buffett Indicator: Wouldn't GNP give a more accurate picture?
That is another question we've been asked many times. Here is the same calculation with gross national product (GNP) as the denominator; the two versions differ very little from their GDP counterparts.
Here is an overlay of the two GNP versions -- again, very similar.
Buffett Indicator: What do these charts tell us?
A question we're repeatedly asked is why we don't include the "Buffett Indicator" in the overlay of the four valuation indicators updated monthly. We've not included it for various reasons: The timeframe is so much shorter, the overlapping timeframe tells the same story, and the four-version overlay is about as visually "busy" as we're comfortable graphing.
One final comment: While this indicator is a general gauge of market valuation, it's not useful for short-term market timing, as this overlay with the S&P 500 makes clear.
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Energy Sector $XLE Decent size coming in at HOD into the 01/12 $86 Calls ~ $455K prem/3727 contracts
By: FLOWrensics | January 3, 2024
• $XLE Decent size coming in at HOD into the 01/12 $86 CALLS ~ $455K prem/3727 contracts
$XOM $CVX $XOP $EOG $SLB $PSX $MFC
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Why Etsy (ETSY) Shares Are Trading Lower Today
By: Investing | January 3, 2024
What Happened: Shares of online marketplace Etsy (NASDAQ:ETSY) fell 5.6% in the morning session after stocks experienced a second consecutive day of decline, accompanied by an increase in yields. The 10-year Treasury yield rose past the 4% mark for a brief moment. The 2-year yield rose to 4.38%. This may be a sign that there is a hint of uncertainty and questions about whether the broader market is positioned too optimistically or whether the market has "gotten ahead of itself". Other than this, there is nothing specific to directly explain the downward move.
As a reminder, the driver of a stock's value is the sum of its future cash flows discounted back to today. With lower interest rates, investors can apply higher valuations to their stocks. No wonder so many in the investment community are optimistic about 2024. We at StockStory are not macro prognosticators. Instead, we think there are opportunities to pick market-beating stocks in any macro backdrop. We remain steadfast in our view that it's best to own high-quality companies with margins of safety over the long term in any market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Etsy? Find out by reading the original article on StockStory.
What is the market telling us: Etsy's shares are very volatile and over the last year have had 18 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 16 days ago, when the company gained 5.9% as stock rebounded following a steep sell-off in the previous week. Etsy announced on December 13th, 2023, that it is cutting 11% of its workforce, or approximately 225 employees, as the company looks to restructure its business and streamline costs against a "very challenging" macro and competitive environment. This move marks a shift from the negative sentiment in the previous week, and there haven't been any further updates on the situation.
At $77.53 per share, Etsy is trading 47.7% below its 52-week high of $148.20 from February 2023. Investors who bought $1,000 worth of Etsy's shares 5 years ago would now be looking at an investment worth $1,684.
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Why Paycom (PAYC) Shares Are Getting Obliterated Today
By: Investing | January 3, 2024
What Happened: Shares of online payroll and human resource software provider Paycom (NYSE:PAYC) fell 5% in the morning session after stocks experienced a second consecutive day of decline, accompanied by an increase in yields. The 10-year Treasury yield rose past the 4% mark for a brief moment. The 2-year yield rose to 4.38%. This may be a sign that there is a hint of uncertainty and questions about whether the broader market is positioned too optimistically or whether the market has "gotten ahead of itself". Other than this, there is nothing specific to directly explain the downward move.
As a reminder, the driver of a stock's value is the sum of its future cash flows discounted back to today. With lower interest rates, investors can apply higher valuations to their stocks. No wonder so many in the investment community are optimistic about 2024. We at StockStory are not macro prognosticators. Instead, we think there are opportunities to pick market-beating stocks in any macro backdrop. We remain steadfast in our view that it's best to own high-quality companies with margins of safety over the long term in any market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Paycom? Find out by reading the original article on StockStory.
What is the market telling us: Paycom's shares are not very volatile than the market average and over the last year have had only 6 moves greater than 5%.
The biggest move we wrote about over the last year was 2 months ago, when the stock dropped 24% on the news that the company reported third quarter revenue that fell short of Wall Street's expectations. In addition, its full-year revenue and adjusted EBITDA guidance, which are more important because markets are forward-looking, were below estimates. The company attributed the weaker growth trend to cannibalization from Beti, its automated payment processing system. While it enhances efficiency, Beti has also led to lower billable services and reduced monetization opportunities.
On a positive note, its EPS and adjusted EBITDA beat analysts' expectations during the quarter.
Overall, it was a weaker quarter for the company.
Following the results, multiple Wall Street analysts downgraded the stock, signaling that they think the worst may not be behind Paycom yet. For example, Deutsche Bank analyst Bhavin Shah downgraded Paycom from Buy to Hold, adding, "Beti is leading customers to spend less on services and unscheduled payroll runs, which is negatively impacting monetization opportunities for Paycom."
At $196.38 per share Paycom is trading 47% below its 52-week high of $370.78 from July 2023. Investors who bought $1,000 worth of Paycom's shares 5 years ago would now be looking at an investment worth $1,685.
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Why Semtech (SMTC) Stock Is Falling Today
By: Investing | January 3, 2024
What Happened: Shares of semiconductor company Semtech (NASDAQ:SMTC (NASDAQ:SMTX)) fell 5.2% in the morning session after stocks experienced a second consecutive day of decline, accompanied by an increase in yields. The 10-year Treasury yield rose past the 4% mark for a brief moment. The 2-year yield rose to 4.38%. This may be a sign that there is a hint of uncertainty and questions about whether the broader market is positioned too optimistically or whether the market has "gotten ahead of itself". Other than this, there is nothing specific to directly explain the downward move.
As a reminder, the driver of a stock's value is the sum of its future cash flows discounted back to today. With lower interest rates, investors can apply higher valuations to their stocks. No wonder so many in the investment community are optimistic about 2024. We at StockStory are not macro prognosticators. Instead, we think there are opportunities to pick market-beating stocks in any macro backdrop. We remain steadfast in our view that it's best to own high-quality companies with margins of safety over the long term in any market.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Semtech? Find out by reading the original article on StockStory.
What is the market telling us: Semtech's shares are somewhat volatile and over the last year have had 28 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 28 days ago, when the stock gained 13.8% on the news that the company reported third quarter results, which blew past analysts' adjusted EBITDA and EPS expectations. Revenue was in line, with its infrastructure and high-end consumer segments outperforming expectations. On the other hand, its revenue guidance for the next quarter underwhelmed. The company noted stabilization in the market demand for the semiconductor business despite ongoing constraints in the hardware business and the effects of elevated channel inventories.
On October 2nd 2023, Mark Lin became the company's Chief Financial Officer. With a net leverage ratio of 6.4x (indicating how many times the company's debt exceeds its earnings and cash flow), the CFO provided helpful insights relating to the highly leveraged balance sheet. He discussed the $250 million, 4% convertible note issued in October 2023, emphasizing its benefits in increasing the mix of fixed to floating rate debt, eliminating scheduled principal payments, and reducing cash interest costs amid potential future interest rate changes.
Given that Semtech continued to burn cash during the quarter, reducing the total near cash outlay will play a vital role in improving the health of the balance sheet and raising investors' conviction in the ability of the business to navigate the challenging high-interest rate environment.
Overall, this was a mixed quarter for Semtech, with investors likely encouraged by the improved business updates provided by management and adjusted EBITDA and EPS beats in the just-reported quarter.
At $20.51 per share Semtech is trading 41% below its 52-week high of $34.74 from February 2023. Investors who bought $1,000 worth of Semtech's shares 5 years ago would now be looking at an investment worth $475.76.
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ISM Manufacturing PMI confirms 14 months of contraction within the goods producing industries of the US, and 16 months of declining new orders
By: Markets & Mayhem | January 3, 2024
• ISM Manufacturing PMI confirms 14 months of contraction within the goods producing industries of the US, and 16 months of declining new orders.
The silver lining here is we're seeing signs that prices are decreasing.
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We are not a penny board, JusDePomme
ihub was on the ball. He's already kicked off.
None of that stuff, ten post William_Mercer. You are spamming
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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/
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