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US stocks lower broadly in heavy trading, weak retail results weigh on markets

Nov 20, 2018

 

 

 

Market data as of 12:15pm

US Market Snapshot

  • US markets are trading broadly lower mid-session after Target's (TGT) weak outlook brought growth fears front and center for investors, contributing to today's losses
  • The S&P 500 is currently down 0.87%, Nasdaq Composite is down 1.03%, and Russell 2000 is down 0.77%
  • Today's concerns on weak retail growth outlook join the concerns about tech sector companies' outlook that have already been plaguing the market 
  • Today's volume is ~40% above the average of the last 30 days
  • Utilities (-0.2%), Healthcare (-0.26%), and Telecom (-0.74%) stocks are the top performers in the S&P 500 today
  • Financials (-1.71%), Industrials (-1.87%), and Energy (-2.61%) 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 0.35x
  • 71 stocks in the S&P500 are at 4-week highs while 50 stocks are at 4-week lows
  • 23 stocks in the S&P 500 are overbought while 31 stocks are oversold according to the 16-day RSI Measure
  • 46 stocks in the Nasdaq Composite are at 4-week highs while 235 stocks are at 4-week lows
  • 146 stocks in the Nasdaq Composite are overbought while 432 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently 22.73 moving down 2.45 from yesterday's close of 20.10

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • Apple (AAPL) stock continues to suffer as stories of production cuts from Apple suppliers keep swirling in the market.  Many suppliers are lowering outlooks in the wake of Apple’s cuts.  Apple itself has fallen almost 20% since October 3rd, almost entering bear market territory.  Analysts expect Apple focus on charging higher prices per phone to make up for slower growth expected going forward.  Apple is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.
  • Best Buy (BBY) shares are lower despite boosting full-year adjusted EPS forecasts and beating analyst estimates for FY3Q2018. Best Buy generated adjusted EPS of USD$0.93/share in FY3Q2018 while analysts’ consensus called for USD$0.85/share. Best Buy also raised its full-year adjusted EPS guidance from between USD$4.95/share and USD$5.10/share to between USD$5.09/share and USD$5.19/share. Likely driving shares to trade lower is Best Buy’s FY3Q2018 international comparable sales growth of 3.7%, which missed consensus estimates of 3.9%. Best Buy is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas.
  • Boston Scientific (BSX) agreed to buy its competitor BTG Corp (BTG LN) in an effort to expand its medical devices offerings.  Boston Scientific, the maker of stents for blood vessels, will be adding medical technology products with the acquisition of BTG Corp.  The deal will be financed with cash and debt as Boston Scientific offers a 50% premium over the 90-day average price of BTG.  Boston Scientific is rated “Neutral” in our US Large-Cap Global top Stock Ideas.  BTG Corp is rated “Neutral” in our United Kingdom All-Cap Global Top Stock Ideas.
  • Campbell Soup (CPB) shares are higher after reporting FY1Q2018 adjusted EPS that beat the highest analyst estimate. Campbell reported FY1Q2018 adjusted EPS of USD$0.79 while analyst estimates ranged between USD$0.65 and USD$0.76. Campbell also reported FY1Q2018 net sales of USD$2.69bn while analyst estimates ranged between USD$2.52bn and USD$2.76bn. Campbell is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Staples Global Top Stock Ideas.
  • Inogen (INGN) was upgraded to strong buy from buy at Needham.  Inogen’s price target of USD$280 was reiterated.  Needham said Inogen can deliver “meaningful upside to consensus” as it enters a new product cycle with its new G5 portable oxygen generator.  Inogen should see accelerating sales in 2019 with easy comps for sales.   Inogen is rated “Attractive” in our US Large-Cap Global top Stock Ideas
  • Intuit (INTU) reported FY2Q guidance for adjusted EPS that beat consensus.  Intuit sees FY2Q adjusted EPS of 85-88 cents while consensus is 79 cents.  Intuit sees FY2Q revenue of USD$1.47-1.49 billion.  Intuit sees full year EPS of USD$6.40-6.50.  Intuit reported FY1Q adjusted EPS of 29 cents, well above consensus of 11 cents.  Intuit is rated “Neutral” in our US Large-Cap Global top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock Ideas.
  • Jacobs Engineering (JEC) announced financial results for FY4Q2018. Jacobs Engineering reports FY4Q2018 y/y revenue growth of 56% to USD$4.1bn while analyst consensus called for USD$4.3bn. Jacobs Engineering’s adjusted EPS, however, beat consensus analyst estimates of USD$1.239, reporting FY4Q2018 EPS of USD$1.310. Jacobs Engineering is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Staples Global Top Stock Ideas.
  • Kohl’s (KSS) shares are sliding despite reporting FY3Q2018 financials that showed promising growth. Kohl’s saw comparable same-store sales growth of 2.5% in FY3Q2018 while analysts expected just 1.5%. Kohl’s also raised the lower end of its full-year earnings guidance, forecasting full-year EPS of between USD$5.35/share and USD$5.55/share while analyst consensus mid-point EPS forecasts call for USD$5.49. Kohl’s is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas. 
  • L Brands (LB) provided guidance that beat average consensus.  L Brands sees CY4Q EPS of USD$1.90-2.10 while it sees full year EPS of USD$2.60-2.80, up from USD$2.45-2.70.  L Brands sees direct and comparable sales growth of 4%.  L Brands is rated is rated “Neutral” in our US Large-Cap Global top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock Ideas.
  • Lowes Corp (LOW) announced it will be exiting retail operations in Mexico.  Lowes also announced it will be exiting Alacrity Renovation Services and Iris Smart Home.  Lowes sees full year EPS of USD$4.08-4.24 with comparable sales growing ~2.5% and total sales growing 4%.  CY3Q adjusted EPS came at USD$1.04, above 98 cents consensus.  Lowes is rated is rated “Attractive” in our US Large-Cap Global top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas.
  • Target (TGT) reported 3Q comparable sales growth of 5.1%, missing the 5.2% consensus.  Target 3Q adjusted EPS of USD$1.09 came below USD$1.12 consensus.  Target 3Q sales came at USD$17.82 billion.  Target sees full year adjusted EPS of USD$5.30-5.50.  Target is rated is rated “Top Buy” in our US Large-Cap Global top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
  • TJX Companies (TJX) shares are trading lower as retail pessimism and an EPS miss are overshadowing its FY3Q2018 sales that beat the highest analyst estimate. TJX generated USD$0.83bn of sales in FY3Q2018 while analyst estimates ranged between USD$9.30bn and USD$9.69bn. Despite its sales beat, TJX’s adjusted EPS of USD$0.54/share fell short of analyst consensus which called for USD$0.61/share. Driving TJX’s lagged adjusted EPS in FY3Q2018 was its gross margin, which was 28.9% for the quarter while analysts expected 29.2%. TJX is rated as “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.  
     

 

US Treasuries

  • US 2-Year Treasury Notes are lower with yields up 1.03 basis points to 2.79%
  • US 5-Year Treasury Bonds are lower with yields up 0.51 basis points to 2.87%
  • US 10-Year Treasury Bonds are higher with yields down -0.55 basis points to 3.05%
  • The US Treasury 2s-5s Spread has narrowed 0.52 basis points to 0.08%
  • The US Treasury 2s-10s Spread has narrowed 1.58 basis points to 0.26%
  • US Treasury 5s-10s Spread has narrowed 1.06 basis points to 0.18%

Currencies

  • EUR€ is currently down 0.585% against the USD$ to 1.1387
  • GBP£ is currently down 0.335% against the USD$ to 1.2811
  • CHF is currently little changed against the USD$ at 1.0054
  • JPY¥ is currently little changed against the USD$ at 112.67

Commodities

  • WTI Crude is currently down -4.12% to USD$54.42/bbl with the Brent-WTI spread down USD$-1.37 to USD$8.26/bbl
  • Gold is currently little changed -0.11% to USD$1222.88/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

On Mobile/Tablet scroll to the right.

Outperformers Sector Price 1D % Chg Volume
Agilent Technologies Inc Health Care 67.56 7.87%                430,006
Applied Materials Inc Information Technology 36.38 5.66%            3,546,586
Campbell Soup Co Consumer Staples 40.6 5.56%                508,551
NVIDIA Corp Information Technology 152.8 4.94%            8,214,378
Analog Devices Inc Information Technology 88.95 3.94%                950,740
 
Underperformers Sector Price 1D % Chg Volume
L Brands Inc Consumer Discretionary 30.225 -12.59%            1,825,285
Jacobs Engineering Group Inc Industrials 65.34 -10.53%                284,982
Target Corp Consumer Discretionary 69.4 -10.14%            1,642,365
Kohl's Corp Consumer Discretionary 65.22 -8.39%                868,411
Ross Stores Inc Consumer Discretionary 85.83 -5.98%                914,924