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Color is RED across Indexes
Tbond tension snaps sentiment
October 21, 2022 at 7:00 AM ET
A look at the day ahead in U.S. and global markets
Politics may be painful, currencies restive and the earnings season full of pitfalls - but soaring U.S. Treasury borrowing rates cast the biggest pall over world markets running into the weekend.
U.S. Treasury yields from two to 30-years surged to new cycle highs on Friday as futures markets priced the Federal Reserve's peak 'terminal rate' next year at over 5% for the first time entering a silent period from next week ahead of its November policy meeting, the hawkish message was unchanged from Philadelphia Fed chief Patrick Harker and he said the central bank was not done with raising rates amid very high levels of inflation.
But scale of the Treasury yield surge is being fed variously by concerns about liquidity in the market to the risk that Japan and China may soon sell some of their holdings as they sell dollars against the sliding yen and yuan, extreme moves fueled largely by rising U.S. yield
more
https://www.reuters.com/markets/europe/global-markets-view-usa-2022-10-21/
Morning cap....we shall see, its FRYday afterall
SLB $45.69 Schlumberger third-quarter profit jumps as drilling activity picks up
Oct 21 (Reuters) - Top oilfield services provider Schlumberger Ltd (SLB.N) reported a 64.9% jump in third-quarter profit on Friday as a surge in oil prices encouraged drilling activity.
Oil and gas producers are looking to increase production as crude prices stay near eight-year highs, boosting demand for Schlumberger's equipment, services and technology used to drill oil wells.
The average U.S. oil rig count at September-end climbed to 762 from 508 during the same period last year. The total international rig count was 28% higher at 1,85
Total revenue rose 28% to $7.48 billion, with international operations bringing in $5.88 billion.
Net income was $907 million, or 63 cents a share, in the three months ended Sept. 30, compared with $550 million, or 39 cents per share, a year ago.
Rival Baker Hughes Co (BKR.O) topped Wall Street expectations for third-quarter adjusted profit on Wednesday, also driven by higher drilling activity.
Halliburton Co (HAL.N), the third of the so-called Big 3 oilfield service providers, reports its quarterly results next week.
CPI yesterday----FULL report:
https://www.bls.gov/news.release/cpi.nr0.htm
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.2 percent before seasonal adjustment.
Increases in the shelter, food, and medical care indexes were the largest of many contributors to the monthly seasonally adjusted all items increase. These increases were partly offset by a 4.9-percent decline in the gasoline index. The food index continued to rise, increasing 0.8 percent over the month as the food at home index rose 0.7 percent. The energy index fell 2.1 percent over the month as the gasoline index declined, but the natural gas and electricity indexes increased.
The index for all items less food and energy rose 0.6 percent in September, as it did in August. The indexes for shelter, medical care, motor vehicle insurance, new vehicles, household furnishings and
operations, and education were among those that increased over the month. There were some indexes that declined in September, including those for used cars and trucks, apparel, and communication.
The all items index increased 8.2 percent for the 12 months ending September, a slightly smaller figure than the 8.3-percent increase for the period ending August. The all items less food and energy index rose 6.6 percent over the last 12 months. The energy index increased 19.8 percent for the 12 months ending September, a smaller increase than the 23.8-percent increase for the period ending August. The food index increased 11.2 percent over the last year.
Tables of Percent changes
Then more on food, energy, and all items
https://www.bls.gov/news.release/cpi.nr0.htm
HCA $208.61 HCA Healthcare Q3 $3.91 vs $7.00 a year ago--revenue
$14.97 bln vs $15.28 bln a year ago
Q3 Facility admissions down 1.5%
full report
https://finance.yahoo.com/news/hca-healthcare-reports-third-quarter-103000747.html
VRE $12.42 Veris Residential Shares Climb 20% After Hours on Kushner Bid
to buy rival
7:46 PM ET
Kushner is making an unsolicited bid
https://www.wsj.com/articles/kushner-cos-offers-to-buy-rival-real-estate-company-11666307424?siteid=yhoof2
SAM $336.16 Boston Beer Q3 Earnings and Revenues Surpass Estimates
5:45 PM ET
Boston Beer (SAM) came out with quarterly earnings of $3.82 per share, beating the Zacks Consensus Estimate of $3.16 per share. This compares to earnings of $2.97 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 20.89%. A quarter ago, it was expected that this brewer would post earnings of $5.29 per share when it actually produced earnings of $4.31, delivering a surprise of -18.53%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
more
https://finance.yahoo.com/news/boston-beer-sam-q3-earnings-214509478.html
Intel reportedly to start 'targeted' layoffs in November
October 20, 2022 at 6:26 PM ET
Earnings are expected October 27, with layoff details expected Nov. 1
cont
https://www.marketwatch.com/story/intel-reportedly-to-start-targeted-layoffs-in-november-11666304772?mod=newsviewer_click
Elon Musk plans deep layoffs of 75% at Twitter
October 20, 2022 at 6:32 PM ET
Chief Executive Elon Musk plans deep cuts at Twitter Inc. TWTR, +1.18% should he end up with the embattled company, according to a report in The Washington Post on Thursday. The world's richest man has informed prospective investors in his deal to acquire Twitter that he intends to slash 75% of Twitter's 7,500 workers in the coming months, chopping the company's head count to just over 2,000. And even if Musk's deal falls through, massive cuts are planned as Twitter's current management attempts to lop company payroll by about $800 million by the end of next year. That would mean layoffs of about 25% of all employees, the Post reported
https://www.marketwatch.com/story/elon-musk-plans-deep-layoffs-of-75-at-twitter-report-2022-10-20?mod=newsviewer_click
CSX rallies on earnings beat, while Union Pacific stock lags
October 20, 2022 at 7:20 PMET
Analysts have said rail stocks 'aren't' yet priced for a freight recession
"Ultimately, results were a bit better than expected, which is positive, and following challenging 4Q guidance from Union Pacific, shares should react favorably assuming CSX can avoid a similar step down,” Citi analyst Christian Wetherbee said in a note following CSX’s results.
CSX and Union Pacific reported earnings as large rail operators try to lock down a deal with rail-worker unions to avert a strike, and as Wall Street frets over freight demand and a possible recession. And after years of trying to keep costs lean amid a decline in coal usage and greater competition from trucking, railroads have tried to hire more people to increase crew sizes in an effort to improve service.
Full
https://www.marketwatch.com/story/csx-stock-rallies-after-q3-results-beat-as-higher-prices-lift-results-11666297409?mod=newsviewer_click
TRICK or TREAT be warned-Suspected fentanyl pills hidden in candy boxes seized at Los Angeles airport-
On Wednesday they seized 12,000 fentanyl pills inside CANDY BOXES
in a major drug bust at Los Angeles Airport...
Packed inside Skittles and Whooper boxes.....
(the risk was bad enough years ago, now it is a nightmare!)
IMHO, None should go door to door, have a private party or something.
https://thehill.com/policy/transportation/3696918-suspected-fentanyl-pills-hidden-in-candy-boxes-seized-at-los-angeles-airport/
Asian Stocks Set for Cautious Open as Yields Climb
October 20, 2022 6:13 PM EDT
Stocks in Asia look poised for a cautious open after another down day for US equities, with Treasury yields at the highest level since the global financial crisis.
Futures for Japanese shares were mixed while those for Australia were down and Hong Kong contracts pointed to small gains. Wariness around economic challenges saw the S&P 500 swing from a gain of more than 1% to a loss of almost the same.
more
https://www.bloomberg.com/news/articles/2022-10-20/asian-stocks-set-for-cautious-open-as-yields-climb-markets-wrap?srnd=markets-vp
REV>Appeal Rejected- Revlon Announces New York Stock Exchange decision to DELIST the common stock
NEW YORK, October 20, 2022--(BUSINESS WIRE)--Revlon, Inc. (NYSE: REV) ("Revlon" or the "Company") today announced that on October 20, 2022, the NYSE Regulatory Oversight Committee’s Committee for Review rejected the Company's appeal and affirmed the New York Stock Exchange Staff's ("NYSE Staff") decision to delist the Company's Class A common stock following the June 15, 2022 Chapter 11 filing by the Company and certain of its subsidiaries in the U.S. Bankruptcy Court for the Southern District of New York. Accordingly, the Company expects the NYSE Staff to make an application to the Securities and Exchange Commission ("SEC") to delist the Company's Class A common stock in the near future. In the meantime, the NYSE has suspended trading in Revlon’s Class A common stock. The Company’s Class A common stock is expected to trade on the OTC marketplace/pink sheets following the delisting.
more https://finance.yahoo.com/news/revlon-announces-york-stock-exchange-203000404.html
Well now regardless, it is better for our scheduling, does help in other ways,
and maybe our Alumni will get more excited, open their pockets deeper
Sucks I know, but it is what it is!
Meta, Alphabet, Pinterest, shares shudder on Snap warning
Shares of Meta Platforms, Google-owner Alphabet and other companies that sell digital ads dropped late on Thursday after Snapchat owner Snap Inc (SNAP.N) blamed inflation for its slowest revenue growth since going public five years ago.
Snap was the first major social media company to release its September-quarter earnings, and its stock tumbled 25% following the disappointing results after the bell. Snap warned that it would see no revenue growth in the normally busy holiday quarter.
Last trading at about $8 a share, Snap's stock has now fallen 90% from its record high close in September 2021. Snap debuted on the stock market in a hotly anticipated initial public offer in 2017 that priced its stock at $17.
In a letter to investors, Snap said inflation caused some advertisers to reduce their marketing budgets.
Revenue for the third quarter ended Sept. 30 was $1.13 billion, an increase of 6% from the prior-year quarter. The figure narrowly missed analyst expectations of $1.14 billion, according to Refinitiv.
full @
https://www.reuters.com/technology/meta-alphabet-pinterest-shares-shudder-snap-warning-2022-10-20/
WHR< That's a big warning, it's down even more now -12%+, low after
hours so far $120's...
I Would think going a lot lower?
Went under $100 during 2020 Covid outbreaks..
older chart
https://finviz.com/quote.ashx?t=WHR&ty=c&ta=1&p=m&tas=0
Very nice! Thought it would go more than the 2% pre-market on report.
Great play in this market
Geez, I linked out from ZH to author, wonder if that is why
I didn't get a warning? I just deleted it, you could have when that
happened.
I use Chrome and have always gotten an alert, strange......
Have a profitable day everyone~~
POOF!
MAN $72.27 Manpower Group Q3 EPS $2.13 vs $1.77 year ago-revenue
$4.80B vs $5.14B a year ago
Factset consensus $4.87B
MMC $156.97 Revenue missed market views
https://finance.yahoo.com/news/marsh-mclennan-reports-third-quarter-110000873.html
PAG $98.17 Penske Automotive raises quarterly dividend by 7.5%
https://finance.yahoo.com/news/penske-automotive-group-increases-dividend-105500154.html
report around October 26
Why Penske Could beat Earnings Estimates again
https://finance.yahoo.com/news/why-penske-pag-could-beat-161004330.html
(I've followed/played this before, do wish options had more contracts-liquidity)
Strongly considering to play this-one way or the other
BX $87.74 Blackstone's earnings fall 16% on sharp drop in asset sales
https://finance.yahoo.com/news/blackstones-earnings-fall-16-sharp-110101731.html
AAL $13.99 up 2.9% on report-3rd Quarter 2022 results
https://finance.yahoo.com/news/american-airlines-reports-third-quarter-110000148.html
PM $86.47 Philip Morris International Q3 EPS $1.34 vs $1.55 a year ago
DGX $126.66 Quest Diagnostics Q3 revenue $2.49B vs $2.77B a year ago,
raises guidance
https://finance.yahoo.com/news/quest-diagnostics-reports-third-quarter-104500400.html
Futures now ALL Green across the indexes, DOW up 100+
DOV $121.36 Dover Corp cuts FY earnings, revenue views on lower levels of demand
https://finance.yahoo.com/news/dover-reports-third-quarter-2022-103000975.html
chart
https://finviz.com/quote.ashx?t=DOV&ty=c&ta=1&p=d
DHR $257.89 Danaher reports Third Quarter results
reports earnings of $2.56 consensus was $2.24, beat whisper est., as well
https://finance.yahoo.com/news/danaher-reports-third-quarter-2022-100000719.html
chart
https://finviz.com/quote.ashx?t=DHR&ty=c&ta=1&p=d
TSCO $196.32 Tractor Supply profit, same-store sales top expectations, but
total sales come up shy
https://finance.yahoo.com/news/tractor-supply-company-reports-third-100500627.html
^up 2%-T $15.54 AT&T Tops Earning Estimates. Cash Flow Guidance Maintained
https://www.barrons.com/articles/att-tops-earnings-estimates-51666224134?siteid=yhoof2
How an Illiquid Dollar Ruins the World
by Matthew Piepenburg
October 19, 2022
One cannot emphasize enough how dangerous the current macro setting
is in the wake of a deliberately strong and Illiquid Dollar.
Why Strong is Weak
It may intuitively feel good to see one's currency beating all the others
and hence puff American chests in a kind of proud admiration for the strongest
currency on the block.
Nothing, however, could be further from the truth.
U.S. stock futures dip as Treasury yields hit 14 year high, Telsa stock tumbles, post results
Morning, Futures were flat, now a little RED, with Nasdaq showing
scarlet
Kentucky, Indiana agree in principle to reviving series in 2025
John Calipari, says
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Kentucky, Indiana agree in principle to reviving series in 2025, John Calipari says
By The Athletic Staff
Oct 19, 2022
The rivalry is returning. Kentucky has “agreed in principle” to start a series with Indiana beginning in the 2025-26 season, coach John Calipari said Wednesday at SEC media days. The decision is “at the administrative level now, so all the details will be worked out,” he added.
The two powerhouses faced off in the regular season every year from 1969 to 2011, but since 2012, they have met only once. That matchup occurred in the second round of the 2016 NCAA Tournament. Indiana won 73-67 and advanced to the Sweet 16 where the Hoosiers ultimately fell to North Carolina.
Cont
https://theathletic.com/3709348/2022/10/19/kentucky-indiana-reviving-series/
Shall try to check back later..
PTCT $48.78 pauses enrollment in mid-stage study for Huntington's disease
candidate in U.S.
<----WGO pulls back after warning on Uncertain Market Conditions
Inflation causes the IRS to raise tax brackets~Here are 2023 rates and brackets
October 18, 2022
https://finance.yahoo.com/news/federal-income-tax-rates-brackets-191003008.html