General Electric Co.
102.5501 - 104.505
56.54 - 115.14
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Thursday, September 2, 2021 Futures Up/Down % Last Dow 45.00 0.13% 35,335 S&P 500 6.25 0.14% 4,527 Nasdaq 29.50 0.19% 15,638 Stock index futures are indicating a higher open with rates edging down (10-year drops back below 1.3%) as investors await another set of numbers on the labor market in the form of weekly jobless claims, ahead of Friday’s payrolls report (which followed a weaker private payroll report from ADP yesterday). A brutal night across the Northeast saw tornado watches and flash flood warnings for parts of the Tri-State Area as remnants of Hurricane Ida brought in heavy winds and drenching rains that turned major highways into rivers and even showed water rushing through Newark Liberty International Airport, canceling all flights there. The tail-end of hurricane Ida dumped a “record breaking” amount of rain over New York and New Jersey putting both areas into states of emergency. Hurricane Ida, which devastated Louisiana this week, could mobilize lawmakers to pass the bipartisan $1T infrastructure bill, which is making its way through Congress. In Asian markets, The Nikkei Index rose 92 points to 28,543, he Shanghai Index climbed 29 points to 2,597, and the Hang Seng Index advanced 62 points to settle at 26,090. In Europe, markets are quiet as the German DAX is flat at 15,825, while the FTSE 100 is down a few points to 7,145. Bitcoin prices moved back above the $50K level overnight, last trading up 3.3% around $49,900 in a rebound for crypto; Ethereum prices up modestly after outperformance Wednesday, last around $3,750. Crude is rising after OPEC+ ministers’ unity reinforced market stability Events Calendar for Today 7:30 AM ET Challenger Layoffs for Aug 8:30 AM ET Weekly Jobless Claims…est. 345K 8:30 AM EST Continuing Claims…est. 2.775M 8:30 AM ET International Trade for July…est. (-$71.0B) 8:30 AM ET Nonfarm Productivity, Q2…est. 2.4% 8:30 AM ET Unit Labor Costs for Q2…est. 0.9% 10:00 AM ET Factory Orders MoM for July…est. 0.3% 10:00 AM ET Durable Goods Orders MoM for July 10:30 AM ET Weekly EIA Natural Gas Inventory Data Earnings Calendar: Earnings Before the Open: AEO, BNED, BRC, CIEN, DCI, DLTH, GCO, GIII, GMS, JRL, JW/A, KIRK, LE, MCFT, MEI, SCWX, SIG, TTC Earnings After the Close: AVGO, COO, CTHR, CTLP, DOCU, GWRE, HPE, JOAN, LAW, MDB, MDLA, MEIP, NX, OOMA, OXM, PD, SAIC, TLYS, YEXT Other Key Events: Barclay’s Media & Telecom Forum (virtual), 9/1-9/2 Stephens Auto investor Field Trip, 9/1-9/2 Caixin Services PMI for Aug Market Closing Prices Yesterday The S&P 500 Index gained 1.41 points, or 0.03%, to 4,524.09 The Dow Jones Industrial Average fell -48.20 points, or 0.14%, to 35,312.53 The Nasdaq Composite climbed 50.15 points, or 0.33%, to 15,309.38 The Russell 2000 Index advanced 13.28 points, or 0.58% to 2,287.06 Macro Up/Down Last Nymex 0.36 68.95 Brent 0.38 71.97 Gold 1.50 1,815.40 EUR/USD 0.0015 1.1854 JPY/USD 0.00 110.01 10-Year Note -0.013 1.289% Sector News Breakdown Consumer Chewy ($CHWY) shares fell -10%; 2Q adj EBITDA $23.3Mm vs est. 34.4Mm on sales $2.16B vs est. $2.2B; sees FY net sales $8.9B-$9.0B vs. est. $9.0B Costco ($COST) reported total comparable sales for Aug. that beat the average analyst estimate; Aug. total comparable sales +14.2%, estimate +12.5%; Aug. U.S. comparable sales excluding fuel, currencies +10.1%, estimate +7.10% Five Below ($FIVE) shares fell -9%; 2Q EPS $1.15 vs est. $1.11 on sales $646.6Mm vs est. $648.3Mm; guides 3Q net sales $550-565Mm on +MSD comps vs est. $551Mm, sees EPS $0.23-0.30 vs est. $0.27 Hormel Foods ($HRL) shares fall -4%; Q3 adj EPS $0.39, in-line with estimates; Q3 revs $2.86B vs. est. $2.73B; Q2 volume of 1.2B pounds, up 1%; organic volume down 2%; operating margin 7.2%; cuts FY21 EPS view to $1.65-$1.69 from $1.70-$1.82, while raises FY21 revenue view to $11B-$11.2B from $10.2B-$10.8B Chinese regulators summoned 11 ride-hailing firms including DIDI Global ($DIDI) to discuss concerns related to the sector; China’s transport ministry highlighted the hiring of unqualified drivers and use of promotions that disrupt fair market order during the meeting Sportsman’s Warehouse ($SPWH) Q2 adj EPS $0.44 vs. est. $0.48; Q2 sales $361.8M vs. est. $345.6M; said Q2 same store sales decreased 9.9% compared to the same period last year; For the first half of fiscal year 2021, same store sales increased 3.4% compared to the same period last year; Adjusted EBITDA was $35.2M compared to $53.6M in the comparable prior year period; not providing guidance Smith & Wesson Brands ($SWBI) Q1 adj EPS $1.57 vs. est. $1.29; Q1 revs $274.6M vs. est. $278.59M; record gross margin of 47.3% vs. 40.2% last year ChargePoint Holdings ($CHPT) rises 12%; 2Q EPS ($0.29) vs est. ($0.13) on revs $56.1Mm vs est. $49.1Mm, says activated ports exceed 118,000 with over 5,400 in Europe and over 3,700 DC fast charge ports; guides 3Q revs $60-65Mm vs est. $54.7Mm, sees FY revs $225-235Mm up from $195M-$205M vs est. $206.6Mm DraftKings ($DKNG) announced the launch of DraftKings Online Sportsbook in Wyoming, marking the thirteenth state in which its mobile sportsbook is available Tesla ($TSLA) now aims for Full Self-Driving Beta public release ~September 25th, Electrek reports https://electrek.co/2021/09/01/tesla-full-self-driving-beta-public-release-4-weeks/ Energy, Industrials and Materials Greif ($GEF) Q3 adj EPS $1.93 vs. est. $1.54; Q3 revs $1.49B vs. est. $1.39B; sees FY21 EPS $5.10-$5.30 vs. est. $4.63; sees FY21 adjusted free cash flow $335M-$365M Ingersoll Rand Inc. ($IR) authorized a new share repurchase program of $750 mln Exelon ($EXC) tells Illinois lawmakers and Gov. J.B. Pritzker to finalize an energy policy deal by September 13 or face the permanent closure of one of the state’s six nuclear power plants. Energy Transfer ($ET) signed a 15-year power purchase agreement to buy 120 MW of electricity from SoftBank’s ($SFTBY) Eiffel Solar project in northeast Texas; financial terms are not disclosed. General Electric ($GE) was awarded a not-to-exceed $1.65B firm-fixed-price, indefinite-delivery, performance-based logistics requirements contract for the repair, upgrade or replacement, inventory management, and required supply response times of 17 F414 engine components in support of the F/A-18 aircraft Virgin Galactic ($SPCE) slips after the U.S. Federal Aviation Administration (FAA) said on Wednesday it is investigating descent deviation of July 11 flight of SPCE rocket plane that carried British billionaire Richard Branson. FAA spokesman told Reuters vehicle “deviated from its Air Traffic Control clearance as it returned to Spaceport America. The FAA investigation is ongoing.” Donaldson ($DCI) Q4 EPS $0.66 in-line with estimates; Q4 revs $773.1M vs. est. $770.69M; sees FY22 EPS $2.50-$2.66 vs. est. $2.68; sees FY22 sales growth of 5%-10% (est. $3.12B) OPEC+ and its allies agreed yesterday to stick to their existing plan for gradual monthly oil-production increases after a video conference. Ministers ratified the 400,000 barrel-a-day supply hike scheduled for October after one of the quickest meetings in recent memory. Financials CIBC to become exclusive credit card issuer for Costco Mastercard’s in Canada and acquire existing Costco Canadian credit card portfolio Over the last six months SPACs have lost $75 billion. A group of 137 SPACs that closed mergers by mid-February have lost 25% of their combined value. At one point last month, the pullback topped $100 billion – WSJ Healthcare FDA AdComm to discuss Pfizer ($PFE) and BioNTech SE ($BNTX) application for COVID-19 Booster on September 17th Assembly Biosciences, Inc. ($ASMB) shares fall -20%, as the clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus ($HBV), today announced its decision to discontinue development of ABI-H2158 (2158) following the observation of elevated ALT levels consistent with drug-induced hepatotoxicity in an ongoing Phase 2 trial. Cannabis space: The newly inaugurated governor of New York says she wants to “jumpstart” the implementation of marijuana legalization—and she took a major step on Wednesday by making two key regulatory appointments for the state’s cannabis market that have now been confirmed in a Senate committee during a special session (watch shares of $TLRY, $CURLF, $GTBIF, $CRON) https://bit.ly/3jzhR0D Phreesia ($PHR) 2Q EPS ($0.48) vs est. ($0.10) on revs $51Mm vs est. $47.2Mm, says avg number of provider clients was 1,987 in qtr vs 1,668 prior year +19%; guides FY revs $195-198Mm vs est. $193.4Mm, continue to expect overall cash outflow to increase in FY22 vs FY21 NeoGenomics Inc ($NEO) files prospectus related to resale or other disposition of 4.4 mln shares by selling stockholders Ascendis Pharma ($ASND)5M share Secondary priced at $160.00 Technology, Media & Telecom Asana ($ASAN) Q2 adj EPS loss (-$0.23) vs. est. loss (-$0.26); Q2 revs $89.5M vs. est. $82.24M; sees Q3 adj EPS loss (27c)-(26c) vs. est. loss (-$0.28); sees Q3 revs $93M-$94M vs. est. $86.72M; raises FY22 revenue view to $357M-$359M from $336M-$340M (est. $338.81M); Revenues from customers spending $5,000 or more on an annualized basis grew 97% YoY; customers spending $50,000 or more on an annualized basis increased to 598, up 111% YoY ai ($AI) shares fell -10%; Q1 EPS loss (-$0.37) vs. est. loss (-$0.28); Q1 revs $52.4M vs. est. $51.16M; said Q1 included YoY increases of 29% in revenue and 31% in gross profit; sees Q2 revenue $56M-$58M vs. est. $56.12M; sees FY22 revenue $243M-$247M vs. est. $245.4M; Q1 Subscription revenue was $46.1M, up from $35.7M one year ago, an increase of 29% Yoy eGain ($EGAN) 4Q adj EPS $0.08 vs est. $0.03 on revs $20.2Mm vs est. $19.9Mm; guides 1Q adj EPS $0.02-0.05 vs est. $0.03, sees 1Q revs $20.9-21.3Mm vs est. $20.6Mm; guides FY revs $88.2-89.8Mm vs est. $87.1Mm; sees FY adj EPS ($0.03) to $0.00 vs est. $0.20 nCino ($NCNO) 2Q adj EPS ($0.02) vs est. ($0.06) on revs $66.5Mm vs est. $63.7Mm; guides 3Q adj net EPS loss $0.06-0.07 vs est. loss $0.06, sees 3Q revs $66-67Mm vs est. $65.1Mm; guides FY adj EPS net loss $0.22-0.23 vs est. loss $0.23, sees FY revs $263-264Mm vs est. $259.1Mm Nutanix ($NTNX) Q4 adj EPS loss (-$0.26) vs. est. loss (-$0.42); Q4 revs $390.7M vs. est. $362.88M; operating expenses topped revenue at $454.1M though rose from $432.3M a year ago; sees Q1 ACV Billings $172M-$177M Okta ($OKTA) Q2 adj EPS loss (-$0.11) vs. est. loss (-$0.35); Q2 revs $316M vs. est. $296.52M; sees Q3 adj EPS loss (25c)-(24c) vs. est. loss (-$0.34); sees Q3 revs $325M-$327M vs. est. $322.93M; raises FY22 adjusted EPS loss view (77c)-(74c) from ($1.16)-($1.13); Q2 revenue grew 57% year-over-year; subscription revenue grew 59% YoY; remaining performance obligations (RPO) grew 57% YoY to $2.24 billion Semtech ($SMTC) 2Q adj EPS $0.65 vs est. $0.62 on sales $185Mm vs est. $182.9Mm; guides 3Q adj EPS $0.68-0.76 vs est. $0.67 with adj gr margin 62.8-63.8%, adj SG&A $33.5-34.5Mm, adj R&D $32.5-33.5Mm Veev Systems ($VEEV) 2Q adj EPS $0.94 vs est. $0.87 on revs $455.6Mm vs est. $451.9Mm; guides 3Q adj EPS $0.87-0.88 vs est. $0.86, sees 3Q revs $464-466Mm vs est. $460Mm; guides FY revs $1.83-1.835B vs est. $1.823B, sees FY adj EPS about $3.57 vs est. $3.47 China’s Alibaba Group ($BABA) will invest 100 billion yuan ($15.5 billion) by 2025 in support of “common prosperity”, it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping Ireland hit Facebook’s ($FB) WhatsApp with a record 225 million euro ($266 million) fine on Thursday following an inquiry into the messaging app’s transparency around sharing personal data with other Facebook companies.
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Tuesday, July 27, 2021 Futures Up/Down % Last Dow -110.00 0.31% 34,924 S&P 500 -10.25 0.23% 4,404 Nasdaq -8.50 0.06% 15,109 Global stock markets and U.S. futures decline amid a further Chinese selloff as Beijing undertook an extensive regulatory overhaul in the country. Focus turns back to the Fed and earnings as Fed officials are expected to discuss an eventual tapering of the stimulus at a meeting concluding tomorrow while Tesla Inc. ($TSLA) rose in premarket trading after an earnings beat. The S&P 500 and Dow closed at new all-time bests in sideways trading Monday as investors prepare for the Fed’s two-day policy meeting and ahead of quarterly earnings. Big tech in focus tonight with Apple, Microsoft, and Alphabet ($GOOGL) expected to post results while China stocks look to recover as big cap Alibaba ($BABA) and Baidu ($BIDU) each fall more than 5% on Monday after Beijing recently unveiled new rules on private tutoring and online education firms, the latest in a series of crackdowns on the technology sector that have roiled financial markets. The S&P 500 energy index was the strongest gainer among 11 sector indexes yesterday, jumping 2.5%, with health care the worst performer. Bitcoin prices pullback slightly after Bloomberg reported late yesterday that Amazon ($AMZN) denies will accept bitcoin, launch crypto coin in 2022 – said an Amazon spokesperson denied the report form City A.M. Crypto assets were up between 15%-20% on Monday after the reports initially surfaced. In Asian markets, The Nikkei Index climbed 136 points to 27,970, the Shanghai Index dropped over 80 points (2.49%) to settle at 3,381 and the Hang Seng Index plunged again, falling over 1,000 points for a 2nd straight day (4.22%) to 25,086. In Europe, the German DAX is down over 70 points to 15,550, while the FTSE 100 is off about 30 points to dip below the 7,000 level. Market Closing Prices Yesterday The S&P 500 Index gained 10.51 points, or 0.24%, to 4,422.30 The Dow Jones Industrial Average rose 82.76 points, or 0.24%, to 35,144.31 The Nasdaq Composite edged higher 3.72 points, or 0.03%, to 14,840.71 The Russell 2000 Index climbed 7.27 points, or 0.33% to 2,216.92 Events Calendar for Today 7:45 AM ET ICSC Weekly Retail Sales 8:30 AM ET Durable Goods Orders for June…est. 2.1% 8:30 AM ET Durable Goods Ex Transportation for June…est. 0.8% 8:55 AM ET Johnson/Redbook Weekly Sales 9:00 AM ET CaseShiller 20 City Index for May…est. 1.6% 9:00 AM ET Monthly Home Prices MoM for May 10:00 AM ET Consumer Confidence for July…est. 123.9 10:00 AMET Richmond Fed Manufacturing for July…prior 22 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AAN, ABG, ADM, ARCH, AWI, BSX, CIT, CNC, CTS, CVLT, DTE, ECL, ENTG, FELE, FISV, GE, GLW, GPK, HUBB, IQV, IVZ, JBLU, LECO, LW, MMM, MSCI, NXRT, PCAR, PHM, PII, RGEN, ROK, RTX, SHW, SIRI, SSTK, ST, SWK, TPB, UPS, WM, XRX Earnings After the Close: $AAPL, AAT, AGYS, $AMD, ASH, ATEN, AXTI, BXP, BYD, CAC, CAKE, CHE, CHRW, CSGP, EGP, EHC, ENPH, EQR, EXR, FCF, FIBK, $GOOGL, HA, HAFC, HBNC, HIW, HRZN, HT, HVT, IEX, JBT, JNPR, LBRT, MANH, MASI, MAT, MDLZ, MPWR, MSFT, MTDR, MXIM, NAVI, NBR, NLOK, NOV, OLN, OVV, PGRE, QS, SBUX, STAG, SYK, TDOC, TENB, TER, TRMK, USNA, V, WHG, WIRE, WSBC Other Key Events: Alzheimer’s Association International Conference (AAIC) 2021 (virtual), 7/26-7/30 Society of Cataract & Refractive Surgery, 7/23-7/27, in Las Vegas Macro Up/Down Last Nymex 0.01 71.92 Brent 0.19 74.69 Gold -030 1,797.35 EUR/USD -0.0017 1.1786 JPY/USD -0.28 110.11 10-Year Note -0.022 1.254% Sector News Breakdown Consumer Tesla Motors ($TSLA) Q2 non-GAAP EPS $1.45 vs. est. $0.96; Q2 revs $11.96B vs. est. $11.3B; said produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $1B of GAAP net income for the first time in our history; qtrly automotive gross margin 28.4% vs 25.4% reported last year; qtrly automotive rev of which regulatory credits $354 mln vs $428 mln reported last year; qtrly vehicle asp declined by 2% yoy as Model S & Model X deliveries were reduced in q2 due to the product updates; records $23 million in bitcoin-related impairments after crypto’s second-quarter plunge PulteGroup, Inc. ($PHM) and Invitation Homes ($INVH), the nation’s premier single-family home leasing company, announced today the formation of an innovative strategic relationship Stanley Black & Decker ($SWK) Q2 EPS $3.08 vs. est. $2.87; Q2 revs $4.3B vs. est. $4.21B; raises FY21 EPS view to $11.35-$11.65 from $10.70-$11.00 (est. $11.19) and sees FY21 organic revenue growth 16%-18% TriNet Group ($TNET) Q2 adj EPS $1.56 vs. est. $0.81; Q2 revs rose 16% to $1.1B as compared to the same period last year; Q2 adjusted EBITDA was $154 million, compared to Adjusted EBITDA of $199 million, in the same period last year; total Worksite Employees ($WSEs) increased 9% compared to the same period last year, to approximately 340,000; sees FY revs up 10%-12% YoY Energy Range Resources ($RRC) 2Q adj EPS $0.24 vs est. $0.24 on adj revs $644Mm vs est. $569.9Mm, qtrly production avg 2.10 BCFE/day, about 31% liquids; says remains on track to spend at or below $425Mm capital budget; guides FY production avg about 2.15 BCFE/day with about 30% liquids Financials com Inc ($AMZN) on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year. The report from London’s City A.M. newspaper sent Bitcoin prices surging above $40K before it trimmed gains to last trade around $37,500. “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon AGNC Investment ($AGNC) Q2 EPS loss (83c); reports $16.39 tangible net book value per common share as of June 30, decreased ($1.33) per common share, or -7.5%, from $17.72 per common share as of March 31. American Campus Communities ($ACC) 2Q adj FFO/shr $0.42 vs est. $0.37 on revs $208.5Mm vs est. $187.8Mm; guides 3Q FFO/shr $0.32-0.36 vs est. $0.32, sees FY FFO/shr $1.95-2.09 vs est. $1.92 Ameriprise ($AMP) 2Q adj EPS $5.27 vs est. $5.21 on revs $3.42B vs est. $3.37B, AUM +28% to $1.2T Brandywine ($BDN) Q2 FFO $0.32 vs. est. $0.32; sees 2021 FFO $1.34-$1.40 vs. est. $1.36; Core Portfolio: 90.5% occupied and 92.5% leased; New and Renewal Leases Signed: 435,000 square feet; Rental Rate Mark-to-Market: Increased 22.2% / 13.7% on accrual / cash basis; Same Store Net Operating Income: 0.5% on an accrual basis and 1.8% on a cash basis Brown & Brown ($BRO) Q2 adj EPS 49c vs. est. 40c; Q2 revs $727.3M vs. est. $679.46M Heartland Financial ($HTLF) Q2 EPS $1.41 vs. est. $1.26; Q2 revs $173.7M vs. est. $174.7M; Q2 net interest margin was 3.37% compared to 3.44%during the first quarter of 2021 and 3.81% during the second quarter of 2020 Independence Realty ($IRT) 2Q EPS $0.03 vs est. $0.01, sees FY same-store property NOI growth 6.5-7.5%, sees FY core FFO/share $0.76-0.78 vs est. $0.75; announces 14M share secondary offering Sun Communities ($SUI) 2Q core FFO/shr $1.80 vs est. $1.61 on revs $603.9Mm vs est. $374.9Mm, says home sales volume +89.5% to 1,158 homes for qtr ended June 30, 2021; guides FY core FFO/shr $6.25-6.37 vs est. $6.03 TransUnion ($TRU) Q2 adj EPS 96c vs. est. 91c; Q2 revs $774M vs. est. $745.78M; sees FY21 adj EPS $3.63-$3.70 vs. est. $3.54; sees FY21 revenue $3.034B-$3.059B vs. est. $2.98B Healthcare Biogen ($BIIB) and Ionis ($IONS) announced that topline data from a Phase 1b placebo-controlled, multiple ascending dose clinical study showed that BIIB080/IONIS-MAPT met its primary objective of safety and tolerability in patients with mild Alzheimer’s disease. HealthStream Inc. ($HSTM) 2Q EPS $0.08 vs est. ($0.04) on revs $64.8Mm vs est. $60.6Mm; guides FY revs $253-257Mm vs est. $251.3Mm, sees FY adj EBITDA $48-50Mm vs est. $42.8Mm ObsEva ($OBSV) rises 25%; after entering a pact for Organon to exclusively develop and commercialize ebopiprant, a treatment for preterm labor Medpace ($MEDP) Q2 GAAP EPS $1.06 vs. est. $0.99; Q2 revs $278.3M vs. est. $272.1M; raises FY21 EPS view to $4.31-$4.50 from$4.24-$4.42 (est. $4.38); sees FY21 revs $1.11B-$1.15B vs. est. $1.13B; net new business awards were $387.6M in Q2, representing an increase of 52.5% Universal Health ($UHS) Q2 adj EPS $3.76 vs. est. $2.68; Q2 revs $3.2B vs. est. $3.01B; increases 2021 full year earnings guidance and announces $1 billion increase to stock repurchase program authorization; sees year EPS $11.46-$12.16 (above prior $10.05-$11.05) vs. est. $11.00; sees year revs $12.35B-$12.5B vs. est. $12.33B Industrials & Materials General Electric ($GE) Q2 adj EPS 5c vs. est. 4c; Q2 revs $18.3B vs. est. $18.13B; Q2 Industrial organic revenues $16.9B, up 7%; reiterates FY21 adjusted EPS view 15c-25c vs. est. 26c; raises 2021 outlook for Industrial free cash flow range from $2.5B-$4.5B to $3.5B-$5.0B 3M ($MMM) Q2 adj EPS $2.59 vs. est. $2.26; Q2 revs $8.95B vs. est. $8.55B; Q2 operating cash flow was $1.9B with adjusted free cash flow of $1.6B contributing to adjusted free cash flow conversion of 103%; raises FY21 EPS view to $9.70-$10.10 from $9.20-$9.70 (est. $9.81) and also boosts FY21 revenue view to up 7%-10% from up 5%-8% China is considering imposing more tariffs on steel exports as it seeks to cap domestic production and tame surging prices. Potential rates being discussed range from 10% to 25% and products include hot-rolled coil, according to two people familiar with the matter – Bloomberg (watch shares of $X, $STLD, $RS, $NUE) Axalta Coating ($AXTA) Q2 EPS $0.54 vs. est. $0.46; Q2 sales $1.13B vs. est. $1.08B; Q2 sales increased 72.6% year-over-year, including a 5.3% foreign currency benefit, driven by 56.4% higher volumes and 9.3% higher average price and product mix; sees FY 2021 adjusted eps $1.85-$2.00 vs. est. $2.06; sees FY adjusted Ebit $685-$725 mln and sees FY 2021 net sales growth about 20%-22% Hexcel Corp. ($HXL) 2Q adj EPS $0.08 vs est. $0.01 on sales $320Mm vs est. $324Mm, continues to withhold financial guidance Crane Co. ($CR) 2Q adj EPS $1.83 vs est. $1.38 on sales $796Mm vs est. $743.6Mm; guides FY adj EPS $5.95-6.15 vs est. $5.73, sees FY core sales +7-9%, sees FY net sales $3.1B vs est. $3.03B Packaging Corp. ($PKG) 2Q adj EPS $2.17 vs est. $1.78 on sales $1.9B vs est. $1.78B, guides 3Q EPS $2.37 vs est. $2.11 PotlatchDeltic ($PCH) Q2 EPS $2.77 vs. est. $2.52; Q2 revs $447.5M vs. est. $422.2M; Generated record Total Adjusted EBITDDA of $275.0M and Total Adjusted EBITDDA margin of 61%; historic lumber prices drove record Wood Products Adjusted EBITDDA of $204.6M Simpson Manufacturing ($SSD) Q2 EPS $1.66 vs. est. $1.60; Q2 revs $410.3M vs. est. $393.68M; raises FY21 CapEx view to $55M-$60M from $50M-$55M TFI International Inc. ($TFII) 2Q adj EPS $1.44 vs est. $0.96 on revs $1.84B vs est. $1.35B, increased qtrly dividend by 21% to $0.23/share
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*GE WILL PROCEED W/ 1-FOR-8 REVERSE STOCK SPLIT APPROVED AT AGM *GE STOCK WILL BEGIN TRADING ON A SPLIT-ADJUSTED BASIS ON AUG. 2
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/*============================================= = Wednesday, June 9, 2021 = =============================================*/ Futures Up/Down % Last Dow -25.00 0.07% 34,561 S&P 500 2.25 0.05% 4,228 Nasdaq 28.50 0.20% 13,839 U.S. stock futures are mixed with Dow futures slipping, S&P futures flat and Nasdaq futures looking higher as Treasury yields fall to their lowest levels in weeks (1.50% for the 10-year) ahead of key inflation data later this week. Stock averages flirted with record highs on Tuesday, as the S&P neared but could not hold its early gains (ended Tuesday at 4,227, just off its closing high on May 7 of 4,232) while the Russell 2000 neared its all-time best close as investors appear wary ahead of inflation data due on Thursday in the form of consumer prices (CPI). Consumer discretionary and energy were the best performing major S&P 500 sectors on the day, while utilities were the weakest group. A lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally with more volatility from the likes of AMC, GME, BBBY, WKHS, BB, with new names such as CLOV and WEN added to the fray. Fear remains non-existent in the market as the CBOE volatility index (VIX) touched its lowest level in over a year. It appears for the time being the “meme stocks” are taking over from crypto as the place to be as Bitcoin prices slid. Oil prices inch higher with WTI crude above $70 per barrel for the first time since October 2018 and Bitcoin rebounds. In Asian markets, The Nikkei Index fell -102 points to 28,860, the Shanghai Index rose 11 points to 3,591 and the Hang Seng Index dipped -38 points to 28,742. In Europe, the German DAX is down about -80 points to 15,555, while the FTSE 100 slides about -40 points to 7,050. China data showed May PPI +9.0% y/y vs +8.5% poll, +6.8% in April, May CPI +1.3% y/y vs +1.6% poll, +0.9% in April (CPI highest in eight months). Chinese stocks edge higher despite the fastest factory inflation since 2008 as benign CPI suggests only limited pass-through to consumers Market Closing Prices Yesterday The S&P 500 Index inched higher 0.74 points, or 0.02%, to 4,227.26 The Dow Jones Industrial Average fell -30.42 points, or 0.09%, to 34,599.82 The Nasdaq Composite gained 43.19 points, or 0.31%, to 13,924.91 The Russell 2000 Index advanced 24.58 points, or 1.06% to 2,343.76 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 10:00 AM EST Wholesale Inventories for April 10:30 AM ET Weekly DOE Inventory Data Earnings Calendar: Earnings Before the Open: BF/B, $CPB, $DAKT, $LOVE, $UNFI, $VRA Earnings After the Close: $ENZ, $GEF, $GME, $KLXE, $LAKE, $OXM, $RH, $TCL, $VRNT Other Key Events: Baird Global Consumer, Technology & Services Conference 2021 (virtual), 6/8-6/10 Deutsche Bank Global Consumer Conference (virtual), 6/7-6/10 Goldman Sachs Healthcare Conference (virtual), 6/8-6/10 Goldman Sachs 25th Annual European Financials Conference (virtual), 6/8-6/10 Jefferies Healthcare Virtual Conference, 6/8-6/10 Oppenheimer Virtual Software & Semiconductor Bus Tour, 6/7-6/11 Piper Global Exchange & FinTech Conference (virtual), 6/9-6/10 REITWeek 2021 Investor Virtual Conference, 6/8-6/10 UBS Global Industrials and Transportation Conference, 6/8-6/9 Macro Up/Down Last Nymex 0.11 70.16 Brent 0.12 72.34 Gold -2.60 1,890.25 EUR/USD 0.0019 1.2192 JPY/USD -0.06 109.44 10-Year Note -0.019 1.509% World News China’s factory gate prices rose at their fastest annual pace in over 12 years in May as the producer price index (PPI) increased 9.0% from a year earlier (est. 8.5%), the National Bureau of Statistics (NBS) said driven by significant price increases in crude oil, iron ore and non-ferrous metals. On a monthly basis, the PPI rose 1.6%, up from a 0.9 uptick in April. China’s consumer price index (CPI) rose 1.3% in May in annual terms, the biggest increase in eight months. That was still slower than analysts’ forecast for a 1.6% increase, after a 0.9% gain in April. S. Senate passed a wide ranging $250b Bill designed to counter China & compete with China Bipartisan group meeting, Republican Senators came out of the meeting saying that they made a lot of progress, there is work to be done to reach an agreement, Manchin says a positive meeting, moving in the right direction. Sector News Breakdown Consumer Casey General ($CASY) Q4 EPS $1.12 vs. est. 88c; Q4 revs $2.38B vs. est. $2.22B Calavo Growers ($CVGW) Q2 adj EPS $0.43 vs. est. $0.44; Q2 revs $276.82M vs. est. $267.07M; sees Q3 revs $280M-$300M vs. est. $295.8M; sees Q3 adjusted EBITDA $11M-$15M; Q2 Fresh segment revenue decreased 5%, due primarily to 9% growth in avocado volume, offset by a 10% decrease in avocado prices and 31% lower tomato revenue Limoneira ($LMNR) Q2 adj EPS 10c vs. est. 6c; Q2 revs $45.1M in-line with ests; believes it is prudent to not provide lemon guidance at this time until covid-19 vaccine is widely distributed; continues to believe avocado revenue in fiscal 2021 will be strong due to market factors and positive initial crop indicators Target Corp. ($TGT) raises its quarterly dividend by 32% to $0.90 Energy, Industrials and Materials The American Petroleum Institute ($API) showed crude oil stockpiles fell -2.1m bbl vs -3.5m expected: Cushing -420k: Gasoline +2.4m: Distillates +3.75m Air Products ($APD) and Baker Hughes (BKR) announced a strategic global collaboration to develop next generation hydrogen compression aimed at lowering the cost of production and accelerating the adoption of hydrogen as a zero-carbon fuel Ahead of its investor and analyst conference today, UPS (UPS) announced 2023 financial targets with FY23 consolidated revenue ranging from approximately $98 billion to approximately $102 billion vs. $99.92B consensus SPX Corporation ($SPXC) signs an agreement to sell 100% of the issued and outstanding stock of its wholly-owned subsidiary, SPX Transformer Solutions, to GE-Prolec Transformers, for $645 million in cash; lowers FY21 adjusted EPS view to $2.17-$2.37 from $3.06-$3.26 and lowers FY21 revenue view to $1.25B from $1.70B (est. $1.69B) ABM Industries ($ABM) Q2 adj EPS $0.82 vs. est. $0.71; Q2 revs $1.5B vs. est. $1.48B; raises year EPS view to $3.30-$3.50 from prior $3.00-$3.25 (est. $3.18); maintaining its guidance for FY 2021 Gaap income from continuing operations Boeing ($BA) seeks increase in $3.9bn Air Force One fixed-price contract; Manufacturer’s supplier problems could delay new jets for White House by a year – Financial Times reported Sherwin-Williams ($SHW) raises Q2 sales guidance and full year 2021 sales and diluted net income per share guidance; raises FY 2021 consolidated net sales guidance to be up a high-single to low-double-digit percentage over full year 2020; raises FY21 EPS view to $9.15-$9.45 from $8.80-$9.07 (est. $9.32) Global Ship Lease ($GSL) agrees to purchase 12 container ships from Borealis Finance LLC for an aggregate purchase price of $233.9M; GSL’s fleet will comprise 62 container ships with a total capacity of 322,770 TEU Vale ($VALE) said it will prepay an outstanding ~$2.5B balance related to project financing for the Nacala logistics corridor that serves the Moatize coal mine in Mozambique. Financials Cohen & Steers ($CNS) reports preliminary AUM $94.2B as of May 31; an increase of $1.4B from assets under management at April 30. The increase was due to net inflows of $760M and market appreciation of $815M, partially offset by distributions of $201M Amazon ($AMZN) is considering replacing JPMorgan (JPM) in its co-brand card deal, Bloomberg reported saying American Express (AXP) and Synchrony Financial (SYF) are being considered as an alternative UP Fintech ($TIGR)5M share Secondary priced at $24.50 Healthcare Karyopharm Therapeutics ($KPTI) announces key management changes to its commercial organization LYRA Therapeutics ($LYRA) announces positive outcome of end-of-phase 2 meeting with the FDA for lyr-210 for the treatment of chronic rhinosinusitis Option Care Health ($OPCH) 15M share Spot Secondary priced at $20.00 Technology, Media & Telecom Comtech ($CMTL) Q3 sales $139.4M vs. est. $140.7M; Q3 adj EPS 26c vs. est. loss of (1c); still sees FY adj Ebitda $74M-$76M vs. est. $74.5M; lowers FY net sales $580M-$590M from prior $610.0M-$620.0M (est. $616.4M) Pegasystems ($PEGA) expands share repurchase program to $60M UiPath ($PATH) Q1 EPS loss ($1.11) vs. (33c) last year; Q1 revs $186.2M vs. $113.1M last year Ondas Holding ($INDS)4M share Spot Secondary priced at $7.00
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Habe in den letzten 2 Wochen beinahe meine BTC`s verdoppelt weil ich relative nahe bei den Tief und Höchständen ge und verkauft habe. Ja die selbe grüne Zohne habe ich auch eingezeichnet. Mometan bin ich wieder raus und kaufe bei 32600 wieder ein. Dann sehe wir wie sich der Markt entwickelt. erneute 40k sind durchaus möglich wenn Gebote da sind
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GE kinda gets flooded with volume
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this will ge a nice trade soon
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GE still makes jet engines.
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@everyone Bought more Dogecoin on this dip. Elon Musk Tweeted a poll this morning on whether or not people would like Tesla to accept payments in Dogecoin.
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@everyone Missed the dip, but I'm getting in now as it should be up from here!
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@everyone Selling all of my Dogecoin and looking for a large dip to buy back in on.
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@everyone Back in on this dip. SNL this weekend!
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Aber noch mal zum Minen: BTC minen ist heftig und in der toll ver(ge)steuerten BRD kaum sinnvoll, aber bei ETH soll es noch lecker sein
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@victordefreitas754 #Market Masters Academy
gold ge tf down
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@everyone Once more, sold all of my Dogecoin and am looking for another dip to re-enter.
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@everyone Sold all of my Dogecoin again and looking for another dip to re-enter.
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@everyone Sold all of my Dogecoin, and looking for a dip to buy back in.
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some bigger sweeps trying to get a little GE bounce
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uno sguardo in USA... dati GE, diamo un'occhiarìta dove arrivato il grafico di lungo
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Ge -CHILLIZ Party 😁 http://s1.bookmap.com/?id=6079daec68885
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The General Electric Company (GE) is an American multinational company. For more than 125 years, GE has invented the future of industry. Today, GE is best known for its work in the Power, Renewable Energy, Aviation and Healthcare industries.
CEO: H. Lawrence Culp
HQ: 5 Necco Street Boston, 02210 Massachusetts