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UK Markets Closed in the green yesterday, amid gains in travel and retail sector stocks. Petropavlovsk jumped 8.0%, after the company reported an interim profit. Tyman climbed 7.7%, after a top broker upgraded its rating on the stock to ‘Buy’ from ‘Hold’ and raised its target price to 500.0p from 375.0p per share. 888 Holdings advanced 3.5%, after the online betting group reported a rise in its first half profits and raised its annual forecast. Grainger rose 1.8%. The residential property business proposed a share placing of around 67.38 million in new ordinary shares. Kainos Group gained 1.2%, after a top broker raised its target price on the stock to 1,765.0p from 1,515.0p. On the contrary, WH Smith dropped 3.8%, after the company issued a profit warning for 2022. The FTSE 100 advanced 0.4%, to close at 7,149.8, while the FTSE 250 rose 0.6%, to end at 24,250.8. . European Markets Were also higher yesterday, amid hopes for additional stimulus to support the economy. SAS advanced 2.4%, even though the company reported net loss in the third quarter, amid ongoing travel restrictions. Casino Guichard-Perrachon rose 0.1%, after the company announced that it has signed a partnership deal with Intermarché. BioMerieux advanced 4.0%, after the diagnostics specialist confirmed its annual earnings target. Pernod Ricard gained 3.9%, after the spirits maker reported upbeat annual results reflecting a strong recovery. On the other hand, Carrefour dropped 5.5%, following news that Bernard Arnault sold his 5.7% stake in the supermarket group. The FTSEurofirst 300 index gained 0.5%, to settle at 1,822.2. The German DAX Xetra fell 0.1%, to settle at 15,824.3, while the French CAC-40 added 1.2%, to close at 6,758.7. . US Markets Closed mostly higher yesterday, supported by gains in technology sector stocks. Ambarella surged 27.4%, after the company’s second quarter revenue and earnings surpassed analysts’ expectations. PVH jumped 15.1%, after the company reported upbeat results in the second quarter and raised its annual revenue outlook. Campbell Soup advanced 2.1%, after the company reported better than expected revenue and earnings in the fourth quarter. On the flipside, Southwest Airlines slid 0.5%, after the Southwest Airlines Pilots Association filed a lawsuit against the airline operator over changes made to working conditions during the Covid-19 pandemic. Intuit fell 0.5%. Reports emerged that the company is in talks to acquire e-mail marketing firm, Mailchimp for more than $10.0 billion. The S&P 500 marginally gained to finish at 4,524.1. The DJIA fell 0.1%, to settle at 35,312.5, while the NASDAQ added 0.3%, to close at 15,309.4. . Asian Markets Were trading higher this morning. In Japan, Amada and Nippon Telegraph & Telephone have advanced 1.8% and 2.0%, respectively. Meanwhile, NTN and ANA Holdings have dropped 2.3% and 2.5%, respectively. In Hong Kong, Sunny Optical Technology Group and Country Garden Services Holdings have added 1.2% and 1.7%, respectively. Meanwhile, China Mengniu Dairy and Ping An Insurance (Group) Co. of China have fallen 1.3% and 1.4%, respectively. In South Korea, Namyang Dairy Products and GeneOneLifeScience have declined 5.3% and 5.9%, respectively. Meanwhile, Samyang Holdings and Choil Aluminum have climbed 9.6% and 13.5%, respectively. The Nikkei 225 index is trading 0.1% higher at 28,476.0. The Hang Seng index is trading 0.1% up at 26,061.5, while the Kospi index is trading 1.0% lower at 3,175.5.
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Caleres, Inc. (NYSE:CAL) is estimated to report quarterly earnings at $0.53 per share on revenue of $640.40 million. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is projected to post quarterly earnings at $0.09 per share on revenue of $323.16 million. PVH Corp. (NYSE:PVH) is expected to post quarterly earnings at $1.20 per share on revenue of $2.14 billion. Ambarella, Inc. (NASDAQ:AMBA) is estimated to post quarterly earnings at $0.25 per share on revenue of $75.68 million. Anaplan, Inc. (NYSE:PLAN) is estimated to post quarterly loss at $0.14 per share on revenue of $134.02 million.
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Tuesday, August 31, 2021 Futures Up/Down % Last Dow 37.00 0.10% 35,389 S&P 500 2.25 0.06% 4,527 Nasdaq -0.50 0.00% 15,597 U.S. equity futures are again extending gains as the backdrop remains the same, with softer bond yields boosting tech stocks after last night’s record high close, and as investors continue to bet on the prospect of central bank stimulus lasting over the final months of the year. The S&P 500 and the Nasdaq Composite added to their record-setting pace of gains on Monday, driven by a rally in information technology stocks, but the Dow Jones Industrial Average lagged behind its equity benchmark peers. The S&P 500 closed up 0.4% at around 4,529, establishing an intraday record high at 4,537.36, while the Nasdaq Composite Index ended 0.9% higher at roughly 15,266, following its own intraday record on Monday at 15,288.08. Growth stocks have led the market Friday and today, after Federal Reserve Chairman Jerome Powell recently stressed that the central bank should not overreact to a recent jump in inflation. While the central bank is expected to begin reducing its bond purchases later this year, Fed officials have emphasized that the timing of such a move won’t impact any later decision to raise interest rates from near zero. China’s post-COVID recovery appears to have stalled in August, with an official economic activity reading coming in barely above the 50-point mark that separates growth from contraction. Still overseas markets moved higher. In Asian markets, The Nikkei Index jumped 300 points to 28,8089, the Shanghai Index rose 15 points to 3,543 and the Hang Seng Index climbs 339 points (1.33%) to 25,878. In Europe, the German DAX is higher by about 30 points to 15,915, while the FTSE 100 is down about 30-points to 7,120. In stock news, shares of Zoom Video ($ZM), the face of the pandemic stay at home trade tumbled overnight on disappointing earnings results. Market Closing Prices Yesterday The S&P 500 Index gained 19.42 points, or 0.43%, to 4,528.79 The Dow Jones Industrial Average fell -55.96 points, or 0.16%, to 35,399.84 The Nasdaq Composite surged 136.39 points, or 0.90%, to 15,265.89 The Russell 2000 Index declined -11.16 points, or 0.49% to 2,265.99 Events Calendar for Today 7:45 AM ET ICSC Weekly Retail Sales 8:55 AM ET Johnson/Redbook Weekly Sales 9:00 AM ET CaseShiller 20 City Index for June…est. 1.8% 9:00 AM ET Monthly Home Price Index MoM for June 9:45 AM ET Chicago PMI for Aug…est. 68.0 10:00 AM ET Consumer Confidence for Aug…est. 124.0 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: $CHS, $DBI, $DXLG Earnings After the Close: $AMBA, $AMWD, $CAL, $CRWD, $PVH, $PYCR Other Key Events: Jefferies Semiconductor, IT Hardware & Comm Infrastructure Summit 2021 (virtual), 8/31-9/1 Citigroup Asia Tech, Media & telecom Virtual Conference, 8/27-8/31 Piper Sandler 2021 Texas Bank Forum (virtual), 8/30-9/1 Piper Houston E&P Bus Tour, 8/30-8/31 China Caixin Manufacturing PMI for Aug Macro Up/Down Last Nymex -0.59 68.62 Brent -0.45 72.96 Gold 6.50 1,816.85 EUR/USD 0.0034 1.1831 JPY/USD -0.03 109.89 10-Year Note +0.003 1.287% World News Chinese Manufacturing PMI Aug 50.1 vs. expected 50.2 and previous 50.4; the Non-Manufacturing PMI Aug 47.5 below expected 52.0 and prior reading of 53.3; the Composite PMI Aug 48.9 below previous 52.4 S. completes withdrawal of forces from Afghanistan after 20-year war; U.S. ends its military presence in Afghanistan on Tuesday with the final flight out of Kabul – Reuters Japan Aug consumer Conference lower:7 vs 37.5 previous; Japan July Housing Starts beat at 9.9% y/y vs 4.8% consensus; Japan July Unemployment Rate lower: 2.8% vs 2.9% consensus German Aug Unemployment Change lower: -53k vs -40k consensus; and German Aug Unemployment Rate lower: 5.5% vs 5.6% consensus Sector News Breakdown Consumer American Woodmark ($AMWD) Q1 adj EPS $0.70 vs. est. $1.48; Q1 revs $442.6M vs. est. $461.79M; said while delivering sales growth across all channels our adjusted EBITDA margins of 7.3% were below expectations Bed Bath & Beyond Inc. ($BBBY) announced that Cindy Davis has stepped down from her positions as Executive Vice President, Chief Brand Officer, and President of Decorist effective August 30, 2021. The Company also announced the appointment of Rafeh Masood, Executive Vice President and Chief Digital Officer, as Chief Digital Officer & interim Chief Brand Officer, to lead the combined brand, marketing and digital teams effective immediately. Performance Food Group ($PFGC) is moving into the S&P MidCap 400 following its planned acquisition of Core-Mark Holding Co. ($CORE) while taking CORE’s place in the SmallCap 600 is TreeHouse Foods ($THS), which is being displaced in the Midcap 400 by PFGC Energy, Industrials and Materials Nordson (NDSN) 3Q EPS $2.42 vs est. $2.08 on revs $647Mm vs est. $604.3Mm; guides FY revs +11-12% from 8%-10% and vs est. +10.3%, sees FY EPS $4.75-7.95 vs est. $7.58 ReneSola (SOL) Q2 adj EPS $0.11 vs. est. $0.05; Q2 revs $18.5M vs. est. $20.75M; sees Q3 revenue $19M-$21M vs. est. $26.93M; sees FY21 revenue $90M-$100M vs. est. $97.49M Saudi Aramco may reduce the official selling price of its flagship Arab Light crude by 58c/bbl from its previous month for October sales to Asia – Bloomberg Financials StoneCo (STNE) 2Q qtrly payment volume +58.6%, revs -8.1%, SMB net adds 188K; suspending Fy take rate and adjusted net margin views Tradeweb Markets (TW) announced it has appointed Sara Furber as its Chief Financial Officer, effective September 7, 2021. She succeeds Robert Warshaw, who will leave the company following a period of transition Healthcare Inspire Medical Systems, Inc. ($INSP) said that a Centers for Medicare and Medicaid Services ($CMS) panel has unanimously approved a recommendation to increase the previously proposed reimbursement for Inspire procedure performed in Ambulatory Surgical Centers (ASCs) as indicated on the CMS website as posted today. Ligand ($LGND) headed to the SmallCap 600 to replace Cincinnati Bell (CBB), which is to be acquired by Macquarie Infrastructure and Real Assets Galapagos ($GLPG) announced the planned retirement of CEO Onno van de Stolpe Sonnet ($SONN) announces successful completion of the discovery phase for its next preclinical pipeline candidate (SON-1410) Technology, Media & Telecom Zoom Video ($ZM) 2Q adj EPS $1.36 vs est. $1.16 on revs $1.022B vs est. $991Mm; guides 3Q total revs $1.015-1.02B vs est. $1.013B, sees 3Q adj EPS $1.07-1.08 vs est. $1.09; guides FY revs $4.005-4.015B vs est. $4.007B, sees FY adj EPS $4.75-4.79 vs est. $4.67; 2Q number of customers contributing more than $100,000 in TTM rev up 131% YoY; 2Q GAAP Operating Margin of 28.8% and Non-GAAP Operating Margin of 41.6% Yandex ($YNDX) said it would buy Uber’s ($UBER) stakes in their joint foodtech, delivery and self-driving businesses, and increase its stake in a mobility-focused joint venture as part of a $1 billion deal; YNDX added that it had received a call option to purchase Uber’s remaining stake in mobility businesses for up to $2 billion. Google ($GOOGL) will invest $1.2 billion by 2030 to expand its cloud computing infrastructure in Germany and to increase the use of renewable energy. Apple ($AAPL) and Google ($GOOGL) must allow developers to use other payment systems, new Korean law declares; South Korea will require the companies to allow competing payment systems, threatening their 30% cut of most in-app digital sales – WSJ https://on.wsj.com/3yx4Qc8 Digital Turbine ($APPS) is moving into the MidCap 400, to replace Ligand Pharmaceuticals ($LGND)
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/*============================================= = Thursday JUN 03 2021 = =============================================*/ Thursday, June 3, 2021 Futures Up/Down % Last Dow -146.00 0.42% 34,444 S&P 500 -18.25 0.44% 4,187 Nasdaq -62.50 0.46% 13,611 Stock futures are edging lower, with investors expressing some caution ahead of key economic data jobs reports later this morning. Stocks finished Wednesday with slim gains ahead of today’s ADP private payrolls and jobless claims and tomorrow’s nonfarm payrolls. Investors have been closely watching for signs of inflation and indications on whether the Fed could put the brakes on the rebounding U.S. economy sooner than anticipated. Politico is reporting this morning that President Biden wants $1 trillion in new spending in the infrastructure bill. Energy stocks were market leaders on Wednesday, led higher as oil prices advanced on improving demand expectations as the economy strengthens and as the dollar weakens. The benchmark S&P 500 is up about 12% this year, and within about 1% of its record high, as investors anticipate an economic rebound from the coronavirus pandemic. The big story this week remains the strength in a group of stocks favored by retail investors on forums such as Reddit’s WallStreetBets, led this week by surges in AMC Theatres ($AMC), Bed Bath & Beyond ($BBBY), and Blackberry ($BB), following the early year surge in GameStop ($GME) which has not given up its gains. In Asian markets, The Nikkei Index rose 111 points to 29,058, the Shanghai Index slipped -12 points to 3,584 and the Hang Seng Index declined -331 points to 28,966. In Europe, the German DAX is lower by about 60 points to 15,540, while the FTSE 100 is down over 50 points to 7,050. Events Calendar for Today 7:30 AM EST Challenger Layoffs for May 8:15 AM EST ADP Employment Change for May…est. 650K 8:30 AM ET Weekly Jobless Claims…est. 390K 8:30 AM EST Continuing Claims…est. 3.615M 8:30 AM EST Q1 Nonfarm Productivity…est. 5.5% 8:30 AM EST Q1 Unit Labor Costs…est. (-0.4%) 9:45 AM EST Markit Composite, May-F…prior 68.1 9:45 AM EST Markit Services PMI, May-F…est. prior 70.1 10:00 AM EST ISM Non-Manufacturing PMI for May…est. 63.0 10:30 AM ET Weekly EIA Natural Gas Inventory Data 11:00 AM ET Weekly DOE Inventory Data Earnings Calendar: Earnings Before the Open: $CIEN, $CONN, $DLTH, $EXPR, $HOV, $SCWX, $SJM, $SWIM, $TTC Earnings After the Close: $ASAN, $AVGO, $COO, $CRWD, $DOCU, $FIVE, $IDT, $JOAN, $MDB, $NX, $PD, $PHR, $SAIC, $SUMO, $TLYS, $WORK, $ZUMZ Other Key Events: Bernstein Strategic Decisions Conference (virtual), 6/2-6/4 Cowen 49th Annual TMT Conference (virtual), 6/1-6/3 Goldman Sachs 3rd Asia Spotlight Symposium (virtual), 6/1-6/4 Jefferies Global Healthcare Conference, 6/1-6/3 KeyBanc Capital Markets Industrials & Basic Materials Conference (virtual), 6/1-6/4 Piper Consumer Marketplace Conference (virtual), 6/2-6/4 William Blair 40th Annual Growth Stock Conference (virtual), 6/1-6/3 Wells Fargo Energy Conference (virtual), 6/2-6/3 Market Closing Prices Yesterday The S&P 500 Index climbed 6.08 points, or 0.14%, to 4,208.12 The Dow Jones Industrial Average rose 25.07 points, or 0.07%, to 34,600.38 The Nasdaq Composite gained 19.85 points, or 0.14%, to 13,756.33 The Russell 2000 Index advanced 3.09 points, or 0.13% to 2,297.83 Macro Up/Down Last Nymex -0.10 68.73 Brent -0.04 71.31 Gold -12.00 1,896.35 EUR/USD -0.0014 1.2197 JPY/USD 0.13 109.69 10-Year Note +0.01 1.601% World News China Caixin services PMI 55.1 vs 56.2 estimate, composite PMI 53.8 vs 54.7 The EIA weekly report on U.S. oil inventories, supply and demand is at 11:00 this morning, pushed back a day due to the Memorial Day holiday. UK May Markit Services PMI (final) higher: 62.9 vs 61.8 consensus Eurozone May Markit Services PMI (final) higher: 55.2 vs 55.1 consensus Sector News Breakdown Consumer PVH Corp. ($PVH) Q1 EPS $1.92 vs. est. $0.83; Q1 revs $2.08B vs. est. $1.93B; Abel-Hodges to Step Down as CEO of Calvin Klein and move to an advisory position; sees Q2 EPS $1.15-$1.18 vs. est. $1.22; sees Q2 revs up 34% to 35% from prior year; raises FY21 EPS view to $6.50 from $6.00 (est. $6.16); raises FY21 revenue growth view to 24%-26% from 22%-24% SpartanNash ($SPTN) Q1 adj EPS $0.56 in-line with ests; Q1 revs $2.66B vs. est. $2.7B; reaffirms FY21 adj EPS view of $1.65-$1.80 (est. $1.76) and also backs FY21 revs view $8.8B-$9B vs. est. $8.93B; now expects that Retail comparable sales will be negative 5.0% to 7.0% for 2021 Sportsman’s Warehouse ($SPWH) Q1 EPS 28c vs. est. loss (4c); Q1 revs $327M vs. est. $252.23M; Q1 comp store sales increased 24.1% YoY; Q1 adjusted EBITDA was $23.5 million compared to $8.2 million in the comparable prior year period Churchill Downs ($CHDN) bans trainer Bob Baffert for 2 years after Kentucky Derby winner Medina Spirit’s second positive drug test Conn’s ($CONN) Q1 adj EPS $1.55 vs. est. 30c; Q1 revs $291.3M vs. est. $293.77M; Q1 comp store sales up 19.4%; Q1 e-commerce sales up 95.7% HeadHunter ($HHR)5M share Secondary priced at $37.00 Energy, Industrials & Materials NRG Energy Inc. ($NRG) and Exelon Corp. ($EXC): watch utilities after suppliers to PJM Interconnection LLC’s grid, which serves more than 65 million people, will get $50 a megawatt-day to provide capacity for the year starting June 2022, according to yesterday auction results – down sharply from $140 in the previous auction, held in 2018 (ests, were for the price to fall to about $85). The results showed that the capacity price for the Chicago-area zone, known as ComEd, was $68.96 compared with $195.55 in the last auction. The price for the Pennsylvania and New Jersey zone, known as EMAAC, fell to $97.86 percent, from $165.73 The American Petroleum Institute ($API) showed a draw of 5.36M barrels of oil for the week ended May 28; gasoline inventories showed a build of 2.51M barrels, distillate inventories show a build of 1.59M barrels and Cushing inventories show a build of 741K barrels Patterson-UTI Energy ($PTEN) reports an average of 72 drilling rigs operating for the month of May, 2021 Westport Fuel ($WPRT)2M share secondary prices at $5.50 Financials The Federal Reserve will begin to unwind the corporate bond holdings it acquired last year through an emergency lending facility launched to calm credit markets at the height of the pandemic, the central bank said. The Fed said the sale of its holdings in the Secondary Market Corporate Credit Facility, which includes bonds of companies purchased in the secondary market and exchange-traded funds that invest in corporate bonds, will be “gradual and orderly.” Cushman & Wakefield ($CWK) announces offering of 10M ordinary shares for holders Arch Capital (ACGL) announces $500 million public offering of depositary shares representing series G preferred shares MarketAxess ($MKTX) May trading volume of $478.7B consists of $204.4B in credit volume and $274.3B in rates volume; total credit volume decreased 10.6% this month year-over-year with a 37.9% rise in Eurobond trading volume. Allstate ($ALL) downgraded to Neutral from Buy at Citi Cushman & Wakefield ($CWK) 10M share Spot Secondary priced at $18.75 Healthcare Syneos Health ($SYNH) announces offering of 10.85M shares of common stock for holders Tilray ($TLRY) upgraded to Overweight from Neutral at Cantor Fitzgerald Technology, Media & Telecom com ($BILL) files to sell 10.6M shares of common stock for holders ai ($AI) Q4 EPS loss (24c) vs. est. loss (26c); Q4 revs $52.3M vs. est. $50.6M; sees FY22 revs $243M-$247.0M vs. est. $239.94M Elastic ($ESTC) Q4 adj EPS loss (8c) vs. est. loss (16c); Q4 revs $177.6M vs. est. $157.94M; sees Q1 adj EPS loss (13c)-(10c) vs. est. loss (12c); sees Q1 revs $171M-$173M vs. est. $168.78M; Q4 Revenue of $177.6 million, Up 44% YoY, Q4 SaaS Revenue of $51.3 million, Up 77% YoY and FY21 Revenue of $608.5 million, Up 42% YoY FireEye ($FEYE) entered into a definitive agreement to sell the FireEye Products business, including the FireEye name, to a consortium led by Symphony Technology Group in an all-cash transaction for $1.2B; board approves share repurchase program of up to $500M Guidewire ($GWRE) Q3 adj EPS loss (16c) vs. est. loss (24c); Q3 revs $164M vs. est. $157.74M; sees year revs $732M-$738M up from $725M-$733M prior (est. $730.4M) NetApp ($NTAP) authorizes additional $500M stock buyback; raises quarterly dividend by 4% to 50c per share; Q4 EPS $1.17 vs. est. $1.12; Q4 revs $1.56B vs. est. $1.50B; Q4 billings up 12% at 1.74B; sees Q1 EPS 89c-97c vs. est. 87c; sees Q1 revs $1.37B-$1.47B vs. est. $1.37B Semtech ($SMTC) Q1 adj EPS 53c vs. est. 52c; Q1 revs $170.4M vs. est. $164.31M; Q1 Wireless and Sensing products group net sales increased 7% sequentially and 78% year-over-year for a new record that included record net sales for our LoRa(R) platforms and proximity sensing products; guides Q2 adj EPS 57c-65c vs. est. 57c; sees Q2 revs $177M-$187M vs. est. $169.58M Smartsheet ($SMAR) Q1 Non-Gaap EPS loss (9c) vs. est. loss (14c); Q1 revs $117.1M vs. est. $111.81M; Q1 calculated billings grew 48% YoY to $132.8M; Q2 net operating cash flow was negative $3.0M, net free cash flow was negative $8.2M; number of all customers with annualized contract values (“ACV”) of $5,000 or more grew to 12,655, an increase of 32% YoY; sees FY22 EPS loss (44c)-(36c) vs. est. loss (40c); sees FY22 revenue $510M-$515M vs. est. $502.76M Splunk ($SPLK) Q1 EPS ($2.89) vs. est. loss (70c); Q1 revs $502M vs. est. $491.32M; sees Q2 revenue $550M-$570M vs. est. $561.36M; sees Q2 ARR $2.59B-$2.62B and Q2 Cloud ARR $950M-$960M; said Q1 net loss widened on higher operating expenses, driven in part by its transition to the cloud Cambium Networks ($CMBM) 2M share Secondary priced at $48.00 dLocal ($DLO)41M share IPO priced at $21.00 Flex ($FLEX) files mixed securities shelf
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/*============================================= = Wednesday June 02 2021 = =============================================*/ U.S. stock futures are looking flat after a muted trading session overnight, with markets listless in its return from the three-day Memorial Day Weekend yesterday as investors look ahead to U.S. jobs data and for the moment appear unphased by any inflationary pressures. Markets have been gradually rising the last two-weeks, moving back near record highs for major averages on lighter volumes as we head into the summer. Some upcoming catalysts might be seen in the coming sessions, when the Labor Department releases its jobs report on Friday, before a high-profile FOMC meeting set for in mid-June. Oil prices traded near two-year highs on Wednesday after OPEC and its allies said they gradually would increase production in July as expected. On the economic calendar, investors will be eyeing the Fed’s Beige Book this afternoon. In Asian markets, The Nikkei Index rose 131 points to 28,946, the Shanghai Index fell -27 points to 3,597, and the Hang Seng Index declined -170 points to 29,297. In Europe, the German DAX is up around 20 points to 15,590, while the FTSE 100 is up a few points to 7,085. The S&P 500 and Nasdaq slipped late day as declines in healthcare and technology overshadowed energy and financial gains, as investors weighed the latest round of U.S. economic data for signs of a rebound and rising inflation. The energy sector posted its biggest one-day gain in nearly four months as oil prices rose while healthcare stocks dropped after a weak profit forecast from Abbott Labs weighed on testing and medical equipment stocks. Smallcaps outperformed again as the Russell 2000 advanced over 1% again led by energy stocks. While the S&P 500 remains less than 1% of its record high (came within 4 points of its all-time high intraday) after four straight months of gains, investors are worried about whether rising inflation could hit equity prices. Market Closing Prices Yesterday The S&P 500 Index slipped -2.08 points, or 0.05%, to 4,202.04 The Dow Jones Industrial Average climbed 46.85 points, or 0.14%, to 34,575.31 The Nasdaq Composite dipped -12.26 points, or 0.09%, to 13,736.48 The Russell 2000 Index rose 25.01 points, or 1.10% to 2,293.99 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 4:30 PM ET API Weekly Inventory Data Earnings Calendar Earnings Before the Open: $AAP, $DCI, $LE Earnings After the Close: $AI, $AMSC, $CLDR, $EDR, $ESTC, $GWRE, $MIND, $NCNO, $NTAP, $PVH, $SMAR, $SMTC, $SPLK, $SPTN, $SPWH Macro Up/Down Last Nymex 0.73 68.45 Brent 0.89 71.14 Gold -3.40 1,898.00 EUR/USD -0.0036 1.2177 JPY/USD 0.32 109.80 10-Year Note -0.009 1.606% Sector News Breakdown Consumer Overstock’s ($OSTK) tZERO Is Looking for a Buyer, according to CoinDesk. The company is exploring a number of options, including a SPAC merger, said tZERO VP of Investor Relations Michael Mougias. https://bit.ly/3pfoXIX Scotts Miracle-Gro ($SMG) boosts FY21 view for EPS $9.00-$9.30 (from prior $8.60-$9.00) and company-wide sales up 17%-19% vs. et. $9.15 and $4.65B, led by continued strength in both U.S. consumer and Hawthorne segments Advance Auto Parts ($AAP) Q1 adj EPS $3.34 vs. est. $3.08; Q1 sales $3.3B vs. est. $3.28B; Q1 comp sales rose 24.7%; raises FY21 revenue view to $10.4B-$10.6B from $10.2B-$10.4B and ups its FY21 comp sales view to 4%-6% from 2%-4%. AMC Entertainment ($AMC) shares looking higher by another 30% in pre-market trading, as individual traders on social media forums were unfazed after Hedge fund Mudrick Capital Management sold 8.5 million freshly issued AMC shares at a profit on Tuesday, immediately after buying them. Tesla ($TSLA) is recalling nearly 6,000 U.S. vehicles because brake caliper bolts could be loose, with the potential to cause a loss of tire pressure; the recall covers certain 2019-2021 Model 3 vehicles and 2020-2021 Model Y vehicles – in filing with the National Highway Traffic Safety Administration Energy, Industrials and Materials Donaldson ($DCI) Q3 EPS 66c vs. est. 58c; Q3 revs $765M vs. est. $707.59M; raises FY21 adj EPS view to $2.28-$2.34 vs. est. $2.21; expects full-year sales to increase between 9%-11% YoY, compared with prior guidance of between 5%-8% ProPetro Holding ($PUMP) files mixed securities shelf Orion Energy Systems ($OESX) 4Q EPS $0.04 vs. est. $0.10 on revs $35.5Mm vs. est. $39.1Mm; guides FY22 revs at least +28% vs. est. +34.3% Westport Fuel Systems ($WPRT) announces $100M offering of common shares Tellurian ($TELL) should start construction this summer on the Driftwood LNG export terminal in Louisiana, Executive Chairman Souki said RBC initiated Sector Perform ratings on Couer Mining ($CDE) with a $10 target and Pan American Silver (PAAS) Financials $SOFI was initiated with an Outperform rating and $25 price target at OpCo First Bancorp ($FBNC) to acquire Select Bancorp ($SLCT) for $18.10 per share in an all-stock transaction with a total current value of approximately $314.3 million, based on First Bancorp’s stock price as of May 28, 2021 Healthcare Amazon ($AMZN) said it will no longer screen its workers for cannabis (except for positions subject to regulation by the U.S. Department of Transportation) and will drop weed-testing requirements for recruitment as it supports a proposed U.S. legislation to legalize cannabis at the federal level (watch pot stocks $TLRY, $CGC, $CRON, $GTBIF, $CURLF) Eli Lilly ($LLY) got permission for restricted emergency use of bamlanivimab & etesevimab to treat covid-19 Edwards Lifesciences ($EW) announces that its Acumen Hypotension Prediction Index (HPI) software with the Acumen IQ finger cuff has received U.S. FDA clearance. iRhythm Technologies ($IRTC) said Mike Coyle has decided to resign from his position as president and CEO and a member of the company’s board, effective June 1, due to personal matters. Douglas Devine, the company’s CFO, has assumed the role of interim CEO while a search for a permanent CEO is conducted; reiterates Q2 guidance of ~4% sequential volume growth over Q1 Moderna, Inc. ($MRNA) entered into an agreement with Thermo Fisher Scientific (TMO) for fill/finish sterile manufacturing services and supply packaging for Moderna’s COVID-19 vaccine Invitae ($NVTA) files to sell 26.63M shares of common stock for holders Stealth Biotherapeutics ($MITO) receives orphan drug designation from the European medicine’s agency for elamipretide for the treatment of Barth syndrome ADC Therapeutics ($ADCT) files to sell 5.56M shares of common stock for holders Technology, Media & Telecom Ambarella ($AMBA) 1Q adj EPS $0.23 vs. est. $0.17 on revs $70.1Mm vs. est. $68.6Mm; guides 2Q revs $74-77Mm vs. est. $69.5Mm, adj gr margin 61-62%, adj op exp $36-37.5Mm Digital Turbine ($APPS) Q4 adj EPS 25c vs. est. 19c; Q4 revs $95.01M vs. est. $88M; sees Q1 non-GAAP EPS 31c vs. est. 21c; sees Q1 revs $188M-$192M vs. est. $101.94M; sees Q1 non-GAAP adjusted EBITDA2 $32M-$34M. Hewlett Packard Enterprises ($HPE) Q2 EPS 46c vs. est. 42c; Q2 revs $6.7B vs. est. $6.62B; raises FY21 EPS view to reflect momentum in demand to $1.82-$1.94 from $1.70-$1.88 (est. $1.84); guides Q3 EPS 38c-44c vs. est. 43c Medallia ($MDLA) raises FY22 revenue view to $566M-$570M from $563M-$567M; 1Q adj EPS ($0.08) vs. est. ($0.07) on revs $131.4Mm vs. est. $127.4Mm; guides 2Q subscription revs $113-114Mm, total revs $137-139Mm vs. est. $135.3Mm, adj loss ($12.5Mm) to ($11.5Mm); guides FY subscription revs $467-471Mm, total revs $566-570Mm vs. est. $564.7Mm Zoom Media ($ZM) Q1 adj EPS $1.32 vs. est. $0.99; Q1 res $956.2M vs. est. $906M; raises FY adj EPS view to $4.56-$4.61 from prior $3.59-$3.65 (est. $3.77); sees Q2 EPS $1.14-$1.15 vs. est. $0.94 and sees Q2 revs $985.0M-$990M vs. est. $941.6M; Q1 Number of customers contributing more than $100,000 in TTM revenue up 160% YoY; Q1 approximately 497,000 customers with more than 10 employees, up 87% YoY; Q1 free cash flow $454.2M vs. est. $280.4M
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US Market US closed mostly higher yesterday, as positive US jobs data outweighed concerns over the Covid-19 vaccine rollout. Snowflake surged 16.1%, after reporting a surge in revenue growth in its first earnings report. CrowdStrike Holdings jumped 13.6%, after the cybersecurity company reported better than expected revenue and earnings in the third quarter. Boeing advanced 6.0%, after Ryanair agreed to purchase 75 additional 737 Max Jets with a catalogue value of $9.0 billion. PVH added 5.8%, as the company’s third quarter revenue and earnings surpassed analysts’ forecast. Tyson Foods rose 4.6%, after a top broker upgraded its rating on the stock to ‘Overweight’ from ‘Neutral’. On the flipside, Kroger dropped 4.4%, as the grocery stock company reported lower than expected revenue in the third quarter. The S&P 500 slipped 0.1%, to settle at 3,666.7. The DJIA rose 0.3%, to settle at 29,969.5, while the NASDAQ added 0.2%, to close at 12,377.2. .
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some good retail ones like FIVE PVH
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PVH is one of the most admired fashion and lifestyle companies in the world. PVH powers brands that drive fashion forward – for good. Our brand portfolio includes the iconic Calvin Klein, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True&Co. intimates brand. We market a variety of goods under these and other nationally and internationally known owned and licensed brands. PVH has 40,000 associates operating in over 40 countries. That's the Power of Us. That’s the Power of PVH.
CEO: Emanuel Chirico
HQ: 200 Madison Ave New York, 10016-3903 New York