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US stocks push higher with tech leading tepid gains on a day of lighter trading amid the US election, S&P 500 volume 18% below average

Nov 06, 2018

 

 

US Market Snapshot

  • US stocks are moving higher today with tech again leading the gains on a day of lighter volume with the US election underway, volume of the S&P 500 is 18% below average today
  • The S&P 500 is currently up 0.36%, Nasdaq Composite is up 0.49%, and Russell 2000 is up 0.13%
  • Materials (+1.04%), Industrials (+0.95%), and Tech (+0.47%) stocks are the top performers in the S&P 500 today
  • Consumer Staples (+0.18%), Utilities (+0.04%), and Energy (-0.59%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is positive with the advance/decline ratio for the S&P 500 currently at 2.31x
  • 36 stocks in the S&P500 are at 4-week highs while 5 stocks are at 4-week lows
  • 9 stocks in the S&P 500 are overbought while 8 stocks are oversold according to the 16-day RSI Measure
  • 52 stocks in the Nasdaq Composite are at 4-week highs while 128 stocks are at 4-week lows
  • 208 stocks in the Nasdaq Composite are overbought while 151 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently moving up at 20.10 from yesterday's close of 19.96

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Air Products (APD) announces FY4Q2018 adjusted EPS from continuing operations of USD$2.00, in-line with consensus adjusted EPS expectations of USD$1.99. ADP’s adjusted EBITDA of USD$822mm in FY4Q2018 falls short of consensus revenue expectations of USD$833.1mm. ADP reports FY1Q2019 adjusted EPS from continuing operations guidance between USD$1.85/share and USD$1.90/share while consensus forecasts call for USD$1.93/share. APD is rated “Neutral” in our US Large-Cap Global Top Stock Ideas. 
  • Alibaba (BABA) said it will do its part to help global enterprises import USD$200 billion of goods into China over the next 5 years.  Alibaba sees a growing demand from China’s middle class as a way to whittle down the present trade surplus.  Alibaba has said it will “do its part” to reverse the surplus.  Alibaba is rated “Neutral” in our China All-Cap Global Top Stock Ideas.
  • Becton Dickinson (BDX) announced FY2019 guidance that falls short of the lowest analyst estimate. Becton Dickinson sees its FY2019 adjusted EPS between USD$12.05 and USD$12.15 while analyst estimates range between USD$12.39 and USD$12.89. Becton Dickinson’s management stated that the firm’s FY2019 adjusted EPS includes an adverse impact of 600 basis points in relation to headwinds and divestitures. Becton Dickinson’s CY4Q2018 adjusted EPS of USD$2.93 matches consensus analyst expectations. Becton Dickinson is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.  
  • Booking Holdings Inc. (BKNG) shares are trading higher today after reporting CY3Q2018 earnings that surpass analyst consensus estimates. Booking Holdings announces CY3Q2018 revenue of USD$4.85bn while consensus revenue estimates called for USD$4.81bn. Booking Holdings offered CY4Q2018 adjusted EPS guidance between USD$18.90/share and USD$19.40/share while consensus estimates called for USD$18.74/share. Booking Holdings is rated “Attractive” in both our US Large-Cap and US Consumer Discretionary Global Top Stock Ideas.  
  • CVS Health (CVS) announces strong CY3Q2018 earnings, reporting EPS of USD$1.1.36/share while consensus forecasts called for USD$1.34/share. CVS Health’s top-line revenue of USD$47.3bn is slightly above consensus analyst forecasts of USD$47.2bn. CVS Health’s management detailed in its conference call that they expect the USD$69bn acquisition of Aetna to close by this Thanksgiving. CVS Health is rated “Neutral” in our US Large-Cap Global Top Stock Ideas. 
  • Eli Lilly (LLY) announces CY3Q2018 earnings with bottom-line EPS of USD$1.12 that missed consensus estimates of USD$1.23. Eli Lilly saw top-line revenue grow 7.1% y/y to USD$6.06bn, beating consensus estimates of USD$5.86bn. Eli Lily is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
  • General Electric Company (GE) has agreed to sell its Current business, which sells LED lighting for commercial use and generated USD$1bn of sales in 2017, to private equity firm American Industrial Partners. General Electric is also reportedly attempting to sell the entirety of its consumer-lighting business, according to people familiar with the matter. General Electric is rated “Top Short” in our US Large-Cap Global Top Stock Ideas “Unattractive” in our US Industrials Global Top Stock Ideas.  
  • GreenSky (GSKY) shares are plummeting after the company reported CY3Q2018 earnings and slashed full-year guidance. GreenSky reports CY3Q2018 revenue of USD$113.9mm while consensus revenue estimates called for USD$121.3mm. GreenSky’s management cut CY2018 EBITDA guidance from between USD$192mm and USD$199mm to between USD$165mm and USD$175mm. GreenSky is rated “Unattractive” in our US SMID-Cap Global Top Stock Ideas and “Neutral” in our US Information Technology Global Top Stock Ideas.  
  • Marriot International (MAR) shares are trading lower after the company announced CY4Q2018 EPS guidance of between USD$1.37 and USD$1.41 while consensus EPS estimates call for USD$1.50. Marriott reported CY3Q2018 EPS of USD$1.38/share that beat consensus estimates of USD$1.30/share. Marriott International is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock Ideas.  
  • New York Times Co. (NYT) shares are seeing the largest pull-back in intraday trading in more than four years after Barclays downgraded the stock and adjusted its price target for NYT. Barclays downgraded New York Times to underweight from equal-weight and adjusted its price target from USD$20/share to USD$18/share -- the new price target represents a 36% decline from yesterday’s close. Barclays analysts cited in a note that they believe New York Times’ rally in 2018 has been overdone. New York Times is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas. 
  • Stifel Financial Corporation (SF) announced that it has agreed to buy Mainfirst bank, a German financial institution with 200 employees and 60 analysts that cover European equities. The acquisition is meant to scale Stifel’s equity research business in Germany and Switzerland while preparing Stifel for Britain’s departure from the European Union. Stifel is rated “Neutral” in our US SMID-Cap Global Top Stock Ideas.  
  • Symantec (SYMC) shares are soaring after reports broke that Thoma Bravo, a US private equity firm, approached Symantec about an acquisition. Reports stress that there is no guarantee that talks will lead to a deal. Trading of Symantec shares was halted briefly for volatility after the initial surge. Symantec is rated “Neutral” in both our US Large-Cap and US Information Technology Global Top Stock Ideas.  
  • Thomson Reuters (TSX: TRI) announces CY3Q2018 earnings that beat analyst expectations while the company’s top-line sales fell short of consensus forecasts. Thomson Reuters reports CY3Q2018 EPS of USD$0.37/share while consensus forecasts called for a loss of USD$0.01/share. Thomson Reuters’ CY3Q2018 revenue of USD$1.29bn fell short of consensus revenue expectations by USD$20mm. Thomson Reuters is not rated in our Global Top Stock Ideas. 

 

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 1.23 basis points to 2.9198%
  • US 5-Year Treasury Bonds are lower with yields up 1.54 basis points to 3.0434%
  • US 10-Year Treasury Bonds are lower with yields up 1.15 basis points to 3.2123%
  • The US Treasury 2s-5s Spread has widened 0.31 basis points to 0.12%
  • The US Treasury 2s-10s Spread has narrowed 0.08 basis points to 0.29%
  • US Treasury 5s-10s Spread has narrowed 0.39 basis points to 0.17%
     

Currencies

  • EUR€ is currently little changed against the USD$ at 1.1416
  • GBP£ is currently up 0.299% against the USD$ to 1.308
  • CHF is currently little changed against the USD$ at 0.9962
  • JPY¥ is currently up 0.194% against the USD$ to 113.41
     

Commodities

  • WTI Crude is currently down -2.61% to USD$61.45/bbl with the Brent-WTI spread up USD$0.68 to USD$9.3/bbl
  • Gold is currently down -0.36% to USD$1227.1/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
Mylan NV Health Care 36.2 15.24% 3342736
Symantec Corp Information Technology 22.8 13.64% 5080211
Martin Marietta Materials Inc Materials 188 7.38% 74424
Mosaic Co/The Materials 34.7 7.36% 814074
TripAdvisor Inc Communication Services 56.2 5.54% 524793
 
Underperformers Sector Price 1D % Chg Volume
Nektar Therapeutics Health Care 36.1 -9.83%                661,739
Ralph Lauren Corp Consumer Discretionary 126 -8.29%                289,427
Broadridge Financial Solutions Inc Information Technology 107 -8.19%                115,614
AmerisourceBergen Corp Health Care 82.5 -7.05%                236,689
Marriott International Inc/MD Consumer Discretionary 113 -6.89%                743,358