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US stocks continue global sell-off with S&P 500 and Nasdaq declining but up off their lowes as the end of the trading week approaches

Oct 26, 2018

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US Market Snapshot

  • The S&P 500 is currently down 0.83%, Nasdaq Composite is down 0.58%, and Russell 2000 is down 0.41%
  • Energy (+0.25%), Materials (+0.26%), and Industrials (-0.22%) stocks are the top performers in the S&P 500 today
  • Telecom (-0.46%), Real Estate (-1.82%), and Consumer Discretionary (-2.11%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is negative with the advance/decline ratio for the S&P 500 currently at 0.48x
  • 14 stocks in the S&P500 are at 4-week highs while 113 stocks are at 4-week lows
  • 1 stocks in the S&P 500 are overbought while 116 stocks are oversold according to the 16-day RSI Measure
  • 17 stocks in the Nasdaq Composite are at 4-week highs while 432 stocks are at 4-week lows
  • 60 stocks in the Nasdaq Composite are overbought while 650 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently 23.53 moving down at 0.69 from yesterday's close of 24.22

Stocks Trending in the News

Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.

  • Amazon (AMZN) reports C3Q EPS of USD$5.75 vs Street estimates of USD$3.11.  While earnings blew out estimates, revenues came in weaker than expected at USD$56.5bn vs. a forecast of USD$57.1bn.  Amazon is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
  • Autoliv (ALV) reports interim C3Q sales slightly below market expectations.  Autoliv sees FY CY2018 operating margin at 10.5% vs. previous guidance of 11.0%.  Autoliv is not rated in our Global Top Stock Ideas.
  • Campbell Soup Company (CPB) is being accused by hedge fund and activist investor, Third Point LLC, for allegedly misleading investors about the competence of its directors and the method employed to carry out a Stategic review. The lawsuit by Third Point represents the hedge fund’s most recent move in a proxy contest to replace Cambell’s 12-person board of directors with their own directors to spark growth in the soup and snack maker. A hearing is scheduled for Tuesday, October 30th, 2018. Cambell is rated “Neutral” in our US Consumer Staples Global Top Stock Ideas and “Unattractive” in our US Large-Cap Global Top Stock Ideas. 
  • Cabot Oil (COG) reports C3Q earnings which came in light vs. Consensus on weaker than expected revenues for the quarter.  Cabot Oil boosts its quarterly dividend 17%.  Cabot Oil is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
  • Charter Communications Inc. (CHTR) shares have suffered their worst single-day decline in six months after the US cable operator’s earnings announcement paled in comparison to competitor, Comcast (CMCS.A). Charter reports CY3Q2018 y/y revenue growth of 4% to USD$10.89bn, falling short of consensus revenue estimates of USD$10.94bn. Comcast, meanwhile, posted CY3Q2018 earnings that surpassed expectations, sending Comcast shares higher. Charter is rated “Neutral” in both our US Large-Cap and US Consumer Discretionary Global Top Stock Ideas. Comcast is not rated in our Global Top Stock Ideas. 
  • Colgate-Palmolive (CL) disappointed investors with negative organic sales growth for the first time in 10 years after reporting CY3Q2018 earnings. Colgate reports CY3Q2018 EPS of USD$0.72/share in line with consensus EPS estimates USD$0.72/share. Consensus revenue estimates, however, called for CY3Q2018 sales of USD$3.89bn while Colgate reports sales of USD$3.85bn in CY3Q2018. Colgate is rated “Attractive” in our US Consumer Staples Global Top Stock Ideas and “Neutral” in our US Large-Cap Global Top Stock Ideas. 
  • Google (GOOG.L) reports C3Q EPS of USD$13.06 vs. Consensus of USD$10.40.  While earnings blew out estimates, Google’s revenues, ex TAC, came in slightly below expectations at USD$27.2bn.  Google average cost-per-click for C3Q dropped 28%.  Google is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Info Tech Global Top Stock Ideas.
  • Intel Corp (INTC) reports C3Q EPS that beat Street estimates as a surprise jump in PC demand boosted revenues for Intel chips.  Revenues from Intel’s PC-focused business grew 16% Y/Y.  Intel is the second large semiconductor maker in the world and its positive earnings should provide a boost to semiconductor stocks and the SOXX ETF.  Intel is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Info Tech Global Top Stock Ideas.
  • Microsoft (MSFT) reports F1Q results which top estimates, though capex came in 4.8% below expectations.  Microsoft’s beat was driven by its cloud computing unit as revenue from Azure cloud computing services jumped 76% Y/Y.  Microsoft is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Info Tech Global Top Stock Ideas. 
  • Moody’s Corp (MCO) reports C3Q EPS of USD$1.69, missing market forecasts of USD$1.78.  FY Adjusted CY2018 is brought down to USD$7.50-7.65, below Street estimates if YSD$7.71.  Moody’s management sees restructuring charges of SUD$30 million to 40 million in C4Q.  Moody’s is rated “Attractive” in our US Large-Cap Global Top Stock Ideas.
  • Mohawk Industries (MHK) reports earnings that disappointed investors, announcing CY3Q2018 adjusted EPS of USD$3.29 while consensus adjusted EPS estimates called for USD$3.58. Mohawk Industrie’s CY4Q2018 guidance also fell short of consensus, with management indicating CY4Q2018 adjusted EPS of between USD$2.45 and USD$2.60 while consensus adjusted EPS forecasts called for between USD$3.24 and USD$3.62. Mohawk Industries’ management announces a USD$500mm share buyback plan. Mohawk Industries is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Unattractive” in our US Consumer Discretionary Global Top Stock Ideas. 
  • Tenneco (TEN) reports all-time high revenue for CY3Q2018 of USD$2.37bn, up 4% y/y. Tenneco’s CY3Q2018 EPS is USD$1.15/share, down 26.7% y/y from USD$1.57/share in CY3Q2018. Tenneco also announces that it officially closed the acquisition of Federal0Modul LLC on October 1st, 2018. Tenneco is rated “Top Buy” in our US SMID-Cap Global Top Picks and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas. 
  • Western Digital (WDC) reports FY1Q2018 EPS of $3.04, matching consensus EPS of $3.04. While top-line revenue was on par with consensus estimates, Western Digital’s top-line revenue fell short of expectations as management reported FY1Q2018 revenue of $5bn compared to consensus of $5.14bn. Highlighting the earnings release was Western Digital’s surveillance hard drive sales and embedded flash solution revenue, both of which grew more than 30% y/y. Western Digital is rated “Attractive” in our US Information Technology Global Top Stock Ideas and “Neutral” in our US Large-Cap Global Top Stock Ideas. 

 

US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -4.05 basis points to 2.80%
  • US 5-Year Treasury Bonds are higher with yields down -4.57 basis points to 2.91%
  • US 10-Year Treasury Bonds are higher with yields down -3.56 basis points to 3.08%
  • The US Treasury 2s-5s Spread has narrowed 0.52 basis points to 0.11%
  • The US Treasury 2s-10s Spread has widened 0.49 basis points to 0.27%
  • US Treasury 5s-10s Spread has widened 1.01 basis points to 0.17%
     

Currencies

  • EUR€ is currently up 0.316% against the USD$ to 1.1411
  • GBP£ is currently up 0.164% against the USD$ to 1.2838
  • CHF is currently up 0.21% against the USD$ to 1.0026
  • JPY¥ is currently down 0.596% against the USD$ to 111.75

Commodities

  • WTI Crude is currently up 0.39% to USD$67.59/bbl with the Brent-WTI spread up USD$0.58 to USD$9.29/bbl
  • Gold is currently up 0.48% to USD$1238.12/oz

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Sector ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Russell 1000 Factor ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Movers

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Outperformers Sector Price 1D % Chg Volume
Cabot Oil & Gas Corp Energy 22.9 7.01%            1,064,648
Roper Technologies Inc Industrials 284 6.89%                104,121
Cincinnati Financial Corp Financials 76 6.05%                146,217
ResMed Inc Health Care 103 4.59%                  91,258
Phillips 66 Energy 102.65 4.59%                300,698
 
Underformers Sector Price 1D % Chg Volume
Mohawk Industries Inc Consumer Discretionary 118 -21.74%                454,146
Western Digital Corp Information Technology 45.1 -16.37%            3,832,377
Cerner Corp Health Care 55.3 -11.34%                920,878
SVB Financial Group Financials 237 -10.24%                333,454
Fortune Brands Home & Security Inc Industrials 43 -8.23%                386,304