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Macro

Interactive Brokers - Weekly Roundup


The global automotive industry, financials and energy were in focus this past week, amid renewed trade war rhetoric, new US legislation and oil supply.

The energy sector took a beating Friday, having shed around 3.25% intraday, with the cost of crude oil having plunged around 4% to close to US$67.95. The downward moves followed reports that OPEC and Russia were considering raising supply levels.

Analysts at Nasdaq said plans to increase production by 300k to 800k bpd are “only in the discussion stage at this point, but it seems likely that production curbs in place for about 17-months are nearing an end.  Stockpile have fallen and prices have risen enough to warrant normalization, and there is some pressure to replace lost out from Iran and Venezuela.”

Meanwhile, a fall of 1.7% in durable goods orders in April was primarily attributed to a Boeing (BA)-led decline in aircraft orders. Ex-transportation, orders were up 0.9%, outpacing expectations for a 0.5% rise.

By the afternoon, the yield on the 10-year US Treasury note had fallen roughly 1.55% to 2.935%, and the S&P 500 was off around 0.17% to 2723.

Autos

Global trade tensions resurfaced this past week, with the US and China each effectively directing investor traffic in the auto industry. 

While several automakers drove home with a smile Tuesday after reports that China’s Finance Ministry said it would reduce tariffs on car imports beginning July first, many carmakers’ stocks reversed course following US President Donald Trump’s threats to impose hefty tariffs in the name of national security.


China ignites the auto sector

Chinese officials pledged to cut its tariffs on foreign vehicles by around 10% after resolving with the US to put their heated trade war rhetoric on hold while working towards a deal.

China has levied a 25% cost on car imports for over ten years, placing a burden on many global manufacturers looking to exploit the country’s growing market.

The decision was certainly welcomed by investors, with most US, German and Japanese car company stocks having risen on the day, including Ford, GM, Daimler and Honda. The First Trust NASDAQ Global Auto Index Fund also staged a mild uptick, as did the recently launched Autonomous & Electric Vehicles ETF -- DRIV.

 

But not all electric carmakers were on an upswing. Shares of Tesla, for example, headed downhill after brake-related concerns surfaced with its Model 3, following what appear to be similar complaints related to its Model S and Model X vehicles.

For more, watch the IBKR Traders’ Insight video: Tesla's Stock Travels Downhill Despite China's Tariff Cuts

US sends a different signal

Following China’s tariff-reduction talk, many non-US automakers were taken for spin after the Trump administration decided to launch a probe into whether tariffs should be imposed on foreign imports on grounds of national security.

The move stirred tensions in the EU, Japan and China – and helped drive down several global carmakers stocks – especially among some major German manufacturers, whose shares had dropped around 3% shortly after the news broke.

Many German and Japanese companies’ ADRs, including Bayerische Motoren Werke (BMWYY), Daimler (DMLRY), Volkswagen (VLKRAY), Honda Motor Corp (HMC) and Toyota Motor Corp (TM), remained down between 0.7% and 1.75% ahead of the weekend.

 


Financials

Some M&A activity and proposed legislature colored the financial landscape this past week.

Cincinnati-based Fifth Third Bancorp (FITB) agreed to acquire Chicago-headquartered MB Financial (MBFI) for roughly US$4.7bn amid congressional plans to scale back the severity of the 2010 Dodd-Frank Act.

FITB said it will pay an estimated 90% in stock for the acquisition, with the rest in cash.

If successful, the merger will result in a total Chicago deposit market share of 6.5%, ranking it fourth in total deposits and second in estimated retail deposits among the almost 200 banks in the marketplace. The combined company will also own a 20% share of middle market relationship s in Chicago, ranking it second.

 

The deal comes as congressional leaders voted in favor of Republican-led legislation to loosen the legal framework of Dodd-Frank, which was intended to tighten bank regulations in the wake of the financial crisis of 2007-2008.

The legislation generally aims at lifting the most stringent requirements for small and medium-sized financial institutions, including regional and community banks, as well as credit unions. For example, the threshold for annual regulatory stress testing would be raised five-fold to apply to banks with US$250bn in assets.

The move would remove some of the regulatory burden from regionals such as FITB, which posted around US$141.5bn in total assets as of the end of March 2018. Its acquisition of MBFI – which has US$20bn of assets – would still maintain the combined entity’s position below the bill’s line in the sand for a systemic threat to the financial system.

For more, read: Fifth Third Bancorp Merges with MB Financial as Congress Unleashes Bill to Help Aid Regional Banks


Look Ahead

The week ahead is likely to provide some salient details about the state of US economic growth, with some notable releases that include the May jobs report, consumer confidence, GDP, international trade data, the Fed’s Beige Book, auto sales and the latest reading from the Institute for Supply Management’s manufacturing index.

While ISM manufacturing remained firm in April, the headline level had fallen to its lowest trough since July last year, and most economists think the index in May’s report will climb just slightly higher.

Market participants have been generally keeping a close eye on economic data to gauge whether the Federal Reserve will decide to raise interest rates at a faster pace to meet its objectives of maximum employment and 2% inflation. Analysts widely expect the Fed to raise rates at the conclusion to its next meeting June 13, after pushing up fed funds by 25bps in March.

Meanwhile, investors in the US are set to wake to comments from St. Louis Fed President James Bullard on Tuesday. Bullard is slated to speak about the U.S. economy and monetary policy at the Japan Center in Tokyo, followed by a Q&A.

Also on the calendar in the week ahead, Wall Street Horizon has highlighted a slew of corporate events, including Royal Dutch Shell’s presentation Wednesday at the 4th annual Data Driven Drilling & Production Conference as oil prices have seen a great deal of volatility lately. Also, Amazon is set to hold a shareholder meeting Wednesday, followed by a Facebook stockholder meeting on Thursday.

The week ahead will also be cut short in the US due to the observance of the Memorial Day holiday on Monday.

This will give time for investors to mull over recent geopolitical event risks, as global trade war rhetoric has resurfaced along with uncertainties over US-North Korea relations.

For more, watch the IBKR Traders’ Insight video: Weekly Outlook

The analysis in this article is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


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acciones

Benzinga - WWE Spikes on Reports 'Smackdown Live' Will Move to Fox Following a Massive Offer -By Wayne Duggan


After a huge run last week, World Wrestling Entertainment, Inc. WWE 0.74% stock spiked higher by more than 12 percent Monday after ESPN and other outlets reported that WWE has agreed in principle to a deal that would move “SmackDown” from Comcast Corporation CMCSA 2.06%'s USA Network to Twenty-First Century Fox Inc FOXA 2.19%.

What Happened

According to ESPN, the new TV deal will begin in October 2019. Specific terms of the deal have not been disclosed, but the size of the deal is reportedly “massive.” The Hollywood Reporter said the deal will be worth $1 billion over five years, which would be a three-fold increase over WWE's current deal for the program.

— Darren Rovell (@darrenrovell) May 21, 2018

TheWrap reports that a person with knowledge of the new deal has said “SmackDown” will begin airing on the Fox broadcast channel on Friday evenings. Representatives from both Fox and WWE have so far declined to comment on the potential deal, and no official announcement has been made.

Why It’s Important

Wall Street analysts have said that the two TV licensing contracts WWE has for its “Raw” and “SmackDown” shows are the biggest potential catalyst for WWE stock in 2019. Shares of WWE have surged more than 172 percent in the past year and 22.9 percent in the past five trading sessions on reports that those new deals could be much larger than anticipated.

Last week, The Hollywood Reporter reported Comcast Subsidiary NBCUniversal declined to renew its contract for “SmackDown” due to the high price they would be paying to renew “Raw.” The Hollywood Reporter cited a person familiar with the matter who said the “Raw” renewal is “expected to close it as much as three times its current value.”

What’s Next

While investors wait for official details on the “Raw” and “SmackDown” news to be released, they will ponder just how much value the deals will add to the company and how much upside the stock has left after it has nearly doubled in just the past six months alone.

This past Monday, WWE shares traded around $54.53.

 

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga is a fast-growing financial media outlet that empowers investors with market-moving content. The site also manages Benzinga Pro, a streaming platform with real-time headlines, data and actionable alerts. Sign up for a free trial and profit with faster news now.

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This article is from Benzinga and is being posted with Benzinga's permission. The views expressed in this article are solely those of the author and/or Benzinga and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


18120




acciones

Nasdaq Market Intelligence Desk - Equity Market Insight May, 25, 2018


As of 10:32 AM EDT:

NASDAQ Composite +0.35% Dow +0.01% S&P 500 -0.04% Russell 2000 -0.04%

NASDAQ Advancers: 1150 Decliners: 937

Today’s Volume (100 day avg) -3.6%

A mixed opening begins the trading day ahead of the holiday weekend.  Six sectors are higher led by Consumer Discretionary (+0.5%) and Staples (+0.6%) while Energy tumbles (2.9%).  News flow is relatively quiet as expected and trade volumes are soft.  Treasuries continue strengthening sending yields lower, but the Dollar index is 0.5% higher while gold drifts 0.1% lower. 

 

  • Crude oil is taking a hit this morning on reports that OPEC and Russia are looking to increase production anywhere from 300k to 800k bpd.  Plans are only in the discussion stage at this point, but it seems likely that production curbs in place for about 17-months are nearing an end.  Stockpile have fallen and prices have risen enough to warrant normalization, and there is some pressure to replace lost out from Iran and Venezuela.  WTI -3.5%; Brent –2.8%.

 

  • Durable goods orders fell -1.7% in April but the decline was almost exclusively due to a decline in transportation (Boeing airplane orders). When we strip out transportation, orders actually rose 0.9%. The devil is clearly in the details as orders for commercial jets fell by -29% last month following a huge 61% increase the previous month. Orders for Autos in April rose +1.8% while heavy machinery bookings fell -0.8%. Beyond that orders for most other durable goods rose.

 

  • Fleet Week is in full swing in New York, as a parade of ships from the maritime military services dock in the City.  For over 3 decades, the annual event brings more than 3,700 U.S. and Canadian service members to Manhattan through Memorial Day. The event includes ship tours, military demonstrations, musical performances and more. If you see a uniformed serviceman or woman walking by, take a moment and say thank you to those who are willing to make the ultimate sacrifice to keep us safe at home and abroad.

 

  • Nasdaq welcomes Iterum Therapeutics (ITRM), which IPO’d today after raising $80 million.  Congratulations!

 

Nasdaq's Market Intelligence Desk (MID) Team includes: 

Michael Sokoll, CFA is a Senior Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over 25 years of equity market experience. In this role, he manages a team of professionals responsible for providing NASDAQ-listed companies with real-time trading analysis and objective market information.

Jeffrey LaRocque is a Director on the Market Intelligence Desk (MID) at Nasdaq, covering U.S. equities with over 10 years of experience having learned market structure while working on institutional trading desks and as a stock surveillance analyst. Jeff's diverse professional knowledge includes IPOs, Technical Analysis and Options Trading.

Steven Brown is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over twenty years of experience in equities. With a focus on client retention he currently covers the Financial, Energy and Media sectors.

Christopher Dearborn is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq. Chris has over two decades of equity market experience including floor and screen based trading, corporate access, IPOs and asset allocation. Chris is responsible for providing timely, accurate and objective market and trading-related information to Nasdaq-listed companies.

Brian Joyce, CMT has 16 years of trading desk experience. Prior to joining Nasdaq Brian executed equity orders and provided trading ideas to institutional clients. He also contributed technical analysis to a fundamental research offering. Brian focuses on helping Nasdaq’s Financial, Healthcare and Airline companies among others understand the trading in their stock. Brian is a Chartered Market Technician.

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This article is from Nasdaq and is being posted with Nasdaq’s permission. The views expressed in this article are solely those of the author and/or Nasdaq and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


18156




Technical Analysis

Nasdaq - Technical Take


Energy is tumbling sharply today after the Saudi Energy Minister said OPEC and its allies will likely increase output in 2H of 2018.  The S&P 500 energy index is down a whopping (3%) today, and (5%) for the week.  A week ago in the MID BLOG we highlighted the major resistance level the sector had run into following a 15% gain just in the second quarter to date.  After a positive start on Monday which carried the index to three year highs , energy has been trading straight down and has now carved out a large “bearish engulfing” candlestick on the weekly period.  This week’s new high is accompanied with a bearish divergence with the RSI making a lower high.  The combination of a large bearish pattern along clearly defined long term resistance, plus bearish divergence in momentum indicate energy has flipped back to consolidation from trend.   Look to the rising trend line connecting the lows of 2016, 2017, and 2018  as a level where this sector can pull back to and find support. 

 


Nasdaq's Market Intelligence Desk (MID) Team includes: 

Michael Sokoll, CFA is a Senior Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over 25 years of equity market experience. In this role, he manages a team of professionals responsible for providing NASDAQ-listed companies with real-time trading analysis and objective market information.

Jeffrey LaRocque is a Director on the Market Intelligence Desk (MID) at Nasdaq, covering U.S. equities with over 10 years of experience having learned market structure while working on institutional trading desks and as a stock surveillance analyst. Jeff's diverse professional knowledge includes IPOs, Technical Analysis and Options Trading.

Steven Brown is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over twenty years of experience in equities. With a focus on client retention he currently covers the Financial, Energy and Media sectors.

Christopher Dearborn is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq. Chris has over two decades of equity market experience including floor and screen based trading, corporate access, IPOs and asset allocation. Chris is responsible for providing timely, accurate and objective market and trading-related information to Nasdaq-listed companies.

Brian Joyce, CMT has 16 years of trading desk experience. Prior to joining Nasdaq Brian executed equity orders and provided trading ideas to institutional clients. He also contributed technical analysis to a fundamental research offering. Brian focuses on helping Nasdaq’s Financial, Healthcare and Airline companies among others understand the trading in their stock. Brian is a Chartered Market Technician.

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This article is from Nasdaq and is being posted with Nasdaq’s permission. The views expressed in this article are solely those of the author and/or Nasdaq and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


18157




Macro

Hammerstone - Mid-Morning Look


Index

Up/Down

%

Last

 

DJ Industrials

-9.57

0.04%

24,802

S&P 500

-2.72

0.09%

2,725

Nasdaq

24.28

0.32%

7,448

Russell 2000

-1.09

0.07%

1,627

             

 

U.S. equities are mixed in early trading, with volume light across the board ahead of the Memorial Day holiday weekend. Energy stocks are pacing the early losses, following oil prices lower, after Saudi Energy Minister Khalid Al-Falih said OPEC and its allies are likely to gradually revive oil output. Once again, defensive assets leading early gains with utilities, REITs and Staples outperforming along with strength in technology, while bonds rally. Gold is little changed as the dollar surges to fresh 2018 highs. Markets have plenty to digest ahead of the weekend as President Trump, a day after he canceled a planned meeting with North Korea citing North Korea's "tremendous anger and open hostility," said this morningthat  the June 12 summit with North Korea "could" still happen. But troubles in the EU have yields falling in Western Europe and the U.S. Economic data was mixed as Durable goods orders sank 1.7%, but the internals were better after a 0.9% rise ex-autos, while UoM confidence data was in-line with estimates.

Political unrest in Europe is having an affect overseas on Spanish and Italian markets: Spain’s main opposition party (center-left Socialist Party supported by the far-left Podemos) called a parliamentary vote in an effort to oust Prime Minister Mariano Rajoy from office after a court ruled that the premier’s party benefited financially from an illegal kickback scheme during the country’s property boom. Italian markets decline amid the prospect of an impending anti-establishment government that threatens to balloon borrowing and resist further European integration. Bond yields surging overseas as Bloomberg noted the Spain-German 10-year spread has jumped to over 110 basis points, while the measure for Italy has hit the widest since 2014.

Treasuries, Currencies and Commodities

  • In currency markets, dollar index rises (DXY) back above the 94 level, fresh 2018 highs; the euro falls to morning lows, down roughly -0.6% at 1.1653 vs. the dollar - lowest since early November while Pound also new lows vs. dollar down -0.5% just above the 1.33 level (lowest since November). The safe-haven Japanese yen little changed around 109.15.
  • Precious metals little changed, still holding above the $1,300 an ounce level, but down slightly on the day – gold buoyed as safe haven asset buying kicks in given the global fears (EU political questions, trade spat with China and North Korea news) – but weak as dollar hits new 2018 high.
  • Energy futures dropped sharply after reports that OPEC and Russia are considering lifting oil production in order to hold down recent gains linked to supply shortfalls from Venezuela. The report suggested that OPEC and Russia could lift production by as much as 1 million barrels a day.
  • Treasury markets extend its weekly rally, with the 10-year yield falling below 2.93% (down about 18 bps from last week highs) and the 2-yr down under 2.48% (down over 10 bps from last week); weakness overseas in European markets, fears of uncertainty with North Korea, and trade dispute concerns with China and countries related to NAFTA all weighing on market sentiment this week.

Economic Data

  • Durable Goods Orders for April fell (-1.7%) vs. est. down (-1.3%) – dragged down by civilian aircrafts; Durable goods new orders revised up to 2.7% for March from 2.6%; new orders ex-transportation rose 0.9% in April after 0.4% rise and new orders ex-defense fell 1.9% in April after 4.3% rise; non-defense capital goods orders ex-aircraft rose 1% in April after falling 0.9% in March
  • May final University of Michigan Confidence fell to 98.0 – compared to preliminary reading, last month figure and estimate all standing at 98.8; the expectations index rose to 89.1 vs. 88.4 last month and the current economic conditions index fell to 111.8 vs. 114.9 last month.

Macro

Up/Down

Last

 

WTI Crude

-2.13

68.58

Brent

-1.93

76.86

Gold

-0.70

1,309.10

EUR/USD

-0.0058

1.1661

JPY/USD

0.01

109.27

10-Year Note

-0.065

2.924%

           


Sector Movers Today

  • Retailers; in apparel, GPS shares decline as Q1 EPS missed with comp sales mixed as Old Navy comp result was the weakest since 3Q16 (+3%) and significantly decelerated from 4Q17 (+9%), with under-performance in the company's second largest brand, Gap (-4% comp); BKE shares slip after profit beat expectations, but revenue missed/Q1 comps fell (-3.1%) vs. est. (-3.3%); ROST Q1 EPS and sales top consensus, though Q2 outlook disappointed; in sporting goods, HIBB  reported an unexpected Q1 comp sales decline of (-0.3%) vs. est of up over 1%/reaffirms year
  • Energy sector the top decliner in the S&P 500 as OPEC and Russia are considering lifting oil production in order to hold down recent gains linked to supply shortfalls from Venezuela, which has sent oil prices tumbling and stocks following; APA, NBL, MRO, NFX, HES, HAL, BHGE all down 4% or more while Dow components XOM and CVX top decliners in the index a second day
  • Athletic and footwear-related stocks active after FL Q1 results topped consensus estimates across the board, citing improvement in the flow of premium goods from top vendors (comp sales fell a smaller -2.8% vs. est. -3.6%); shares of NKE, UAA, DKS got a lift; also in footwear, DECK shares jumped as Q4 EPS and revenue topped consensus estimates, including better-than-expected sales growth (+8.4%), while gross margin was in-line as UGG sales increased for the second straight quarter; SCVL trades higher after issuing profit guidance ahead of expectations (expects full-year EPS of $1.90-$2.05 vs. $1.94 est.) and said sales growth and a "favorable" inventory position led to the 31% Y/Y increase in operating income during Q1

Stock GAINERS

  • AAL +4%: amid strength in Transports and airlines in general for a second session
  • DECK +4%; Q4 EPS and revenue topped consensus estimates, including better-than-expected sales growth (+8.4%)
  • DGX +6%; and comp LH shares also higher after the lab companies established a long-term strategic partnership with UNH
  • FL +14%; Q1 results topped consensus estimates across the board, citing improvement in the flow of premium goods from top vendors
  • QSII +13%; reported higher profits and higher sales than estimated while continues to expect FY20 rev growth in the high single-digits

Stock LAGGARDS

  • ADSK -5%; as 1Q earnings/revs beat estimates on strong ARR (annual recurring revenues) but new subscription adds of 101k were below consensus estimates of 123k/606 write-downs negatively impacted billings
  • APA -4%; among top decliners in the S&P along with other energy related stocks on oil drop
  • FCAU -2%; recalling 4.8M vehicles to address a defect that could prevent the cruise control system from disengaging
  • GPS -12%; Q1 EPS missed with comp sales mixed as Old Navy comp result was the weakest since 3Q16 (+3%) and significantly decelerated from 4Q17 (+9%)
  • HIBB -11%; reported an unexpected Q1 comp sales decline of (-0.3%) vs. est of up over 1%
  • HLF -8%; Carl Icahn said at most only 11.4M shares could possibly be purchased in the Herbalife tender, which would still leave the investor the largest shareholder with at least 34.3M shares
  • SPLK ; reported results that came in above guidance and consensus, though, the billings metric came in somewhat light/also raised its full-year outlook/negative was the implied 606-adjusted billings growth of just 18%
  • ZOES -32%; on wider Q1 EPS loss on lower than expected revs of $102.1M and a unexpected decline in Q1 comps (-2.3%)/also cut full year outlook

Syndicate

  • BG Staffing (BGSF) 1.125M share Spot Secondary priced at $18.00
  • Callon Petroleum (CPE) 22M share Spot Secondary priced at $11.80
  • Iterum Therapeutics (ITRM) 6.15M share IPO priced at $13.00
  • Universal Stainless & Alloy (USAP) 1.224M share Spot Secondary priced at $24.50

The content of this post was created by the Hammerstone Group. The Hammerstone Institutional Forum, a chat-based platform for traders, provides subscribers with up-to-the-minute breaking news headlines and instant analysis that drive the market. For more information please visit www.thehammerstone.com. For more information on the stocks mentioned in the Hammerstone Recap, please contact Brian Ducey at brian@thehammerstone.com.

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This article is from the Hammerstone Group and is being posted with the Hammerstone Group's permission. The views expressed in this article are solely those of the author and/or the Hammerstone Group and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


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Avisos legales

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