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Tech stocks lower, industrials higher, broader market little changed ahead of trade talks and Fed decision tomorrow

Jan 29, 2019

 

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US Markets End of Day Snapshot

  • US stocks close mixed with tech shares lower, industrials higher and the broader market little changed; investors await trade talks and the Fed comments over the coming 2 days
  • The S&P 500 finished down 0.15%, Nasdaq Composite is down 0.81%, and Russell 2000 is down 0.14%
  • US prosecutors have formally filed criminal charges against Huawei Technologies, raising fears about the potential for a breakdown in talks between US and China trade officials
  • The UK Parliament voted to back her plan to go back to the EU and seek renegotiations on the Brexit deal 
  • Vice Premier Liu He of China will hold talks with US Treasury Secretary Steve Mnuchin and US Trade Rep Robert Lighthizer on Wednesday and Thursday in Washington, DC
  • Bloomberg suggests the rotation into defensive stocks which started in late CY2018 points to a market bottom and an end to the current correction in stocks valuations 
  • While Bitcoin is viewed as an uncorrelated asset, historically, it has failed to properly serve as a hedge against a falling S&P 500 -- since July 2010, Bitcoin has only recorded positive returns in 3 of the 10 worst months for the S&P 500 (in terms of returns).
  • Industrials (+1.37%), Materials (+1.01%), and Real Estate (+0.79%) stocks were the top performers in the S&P 500 today
  • Consumer Discretionary (-0.82%), Tech (-1.01%), and Telecom (-1.06%) stocks were the worst performers in the S&P 500 today
  • Investor sentiment for US stocks finished neutral with the advance/decline ratio for the S&P 500 closing at 1.15x
  • 74 stocks in the S&P 500 hit 4-week highs while 11 stocks reached 4-week lows
  • 27 stocks in the S&P 500 closed overbought while 3 stocks closed oversold according to the 16-day RSI Measure
  • 149 stocks in the Nasdaq Composite hit 4-week highs while 27 stocks reached 4-week lows
  • 372 stocks in the Nasdaq Composite closed overbought while 125 stocks closed oversold according to the 16-day RSI Measure
  • The VIX closed up 0.43 points today to 19.30 after closing at 18.87 yesterday

Stocks Trending in the News

Click name for Q-Factor rating and financials data.
 

  • 3M (MMM) reported fourth quarter adjusted EPS of USD$2.31 while consensus was for USD$2.28.  3M fourth quarter revenue came at USD$7.9 billion, missing consensus of USD$7.86 billion.  3M gave guidance for 2019 EPS of USD$10.45-10.90, down from USD$10.60-11.05.  3M is rated “Attractive” in our US Large-Cap Global Top Stock Ideas “Neutral” in our US Industrials Global Top Stock Ideas.
  • Advanced Micro Devices (AMD) reported fiscal first quarter 2019 adjusted EPS of 8 cents matching consensus of 8 cents.  AMD fiscal first quarter revenue came at USD$1.42 billion, in line with consensus of USD$1.44 billion.  AMD gave first quarter 2019 revenue guidance of USD$1.2-1.3 billion, well below consensus of USD$1.47 billion.  AMD is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.
  • Apple (AAPL) reported fiscal first quarter 2019 adjusted EPS of USD$4.18 in line with consensus of USD$4.17.  Apple fiscal first quarter 2019 revenue came at USD$84.3 billion, in line with consensus of USD$83.97 billion.  Apple’s gross margin of 38% matched consensus.  Apple gave second quarter 2019 revenue guidance of USD$55-59 billion.  Apple is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Information Technology Global Top Stock Ideas.
  • Biogen (BIIB) reported fourth quarter EPS of USD$6.33 while consensus was for USD$6.69.  Biogen fourth quarter revenue came at USD$3.53 billion, missing consensus of USD$3.39 billion.  Biogen gave guidance for 2019 EPS of USD$28-29.  Biogen is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
  • Corning Inc. (GLW) announced core EPS of USD$0.59/share while consensus was for USD$0.57/share. Corning generated revenue of USD$3.08bn, beating analysts' consensus of USD$3.01bn. Corning is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Information Technology Global Top Stock Ideas.
  • Danaher Corporation (DHR) announced CY4Q2018 financials that slightly edge past analyst estimates while reporting CY1Q2019 guidance better than analyst expectations. Danaher generated an adjusted EPS of USD$1.28/share in CY4Q2018 while analysts expected USD$1.27. Danaher said that it sees CY4Q2019 adjusted EPS between USD$1.00/share and USD$1.03/share while analysts’ consensus was for USD$1.03. Danaher is rated “Attractive” in our US Large-Cap Global Top Stock Ideas.  
  • E-Bay (EBAY) reported fourth quarter EPS of 71 cents above consensus of 68 cents.  E-Bay fourth quarter revenue came at USD$2.88 billion, in line consensus of USD$2.86 billion.  E-Bay gave guidance for first quarter 2019 EPS of 62-64 cents, in line with consensus that is presently 61 cents.  E-Bay is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.
  • GameStop Corporation (GME) shares fell the most in 16 years after the world’s largest independent video game retailer announced that it was ending an effort to sell itself. GameStop is the victim of an industry that is quickly transitioning to digital streaming. GameStop is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas. 
  • Harley Davidson (HOG) announced CY4Q2018 adjusted EPS that substantially missed analyst expectations. Harley Davidson reported an adjusted EPS of USD$0.17, missing the lowest analyst estimates that ranged between USD$0.19 and USD$0.42. Harley Davidson is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock Ideas.  
  • Harris Corp. (HRS) reported fourth quarter EPS of USD$1.88 while consensus was for USD$1.90.  Harris Corp. fourth quarter revenue came at USD$1.666 billion, in line with consensus of USD$1.64 billion.  Harris Corp. is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Industrials.
  • Juniper Networks (JNPR) reported fourth quarter adjusted EPS of 59 cents beating by a touch consensus of 57 cents.  Juniper Networks fourth quarter revenue came at USD$1.18 billion, in line with consensus of USD$1.22 billion.  Juniper Networks gave first quarter 2019 EPS guidance of 17-23 cents, well below consensus of 37 cents.  Juniper is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.
  • L3 Technologies (LLL) reported fourth quarter EPS of USD$3.10 beating consensus of USD$2.69.  L3 Technologies fourth quarter revenue came at USD$2.77 billion, above consensus of USD$2.66 billion.  L3 Technologies is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Industrials.
  • Lockheed Martin Corporation (LMT) announced CY4Q2018 EPS of USD$4.39, slightly missing analyst expectations of USD$4.40. Lockheed Martin said that it expects CY2019 EPS between USD$19.15 and USD$19.45, the midpoint of which misses analysts’ expectations of USD$19.35. Lockheed Martin is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Industrials Global Top Stock Ideas.  
  • Nucor (NUE) reported fourth quarter EPS of USD$2.07 beating consensus of USD$1.94.  Nucor fourth quarter revenue came at USD$6.3 billion, in line with consensus of USD$6.3 billion.  Nucor is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas.
  • Pfizer Inc. (PFE) reported fourth quarter EPS of USD$0.64 while consensus was for USD$0.63.  Pfizer fourth quarter revenue came at USD$14.0bn, missing consensus of USD$13.9 billion.  Pfizer gave guidance for 2019 EPS of between USD$2.82/share and USD$2.92/share while analysts’ consensus called for USD$3.04/share.  Pfizer is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology.
  • PulteGroup (PHM) reported fourth quarter EPS of USD$1.11 while consensus was for USD$1.10.  PulteGroup fourth quarter revenue came at USD$2.99 billion, missing consensus of USD$2.91 billion.    PulteGroup is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
  • Rockwell Automation (ROK) reported FY1Q2019 EPS of USD$2.21  while consensus was for USD$2.01  Rockwell Automation fourth quarter revenue came at USD$1.64bn, in-line with consensus of USD$1.64bn.  Rockwell Automation sees FY2019 EPS of between USD$8.85/share and USD$9.25/share, the midpoint of which beats consensus of USD$8.96/share.  Rockwell Automation is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Industrials Global Top Stock Ideas.
  • Verizon (VZ) reported fourth quarter EPS of USD$1.12 while consensus was for USD$1.08.  Verizon fourth quarter revenue came at USD$34.28 billion, missing consensus of USD$34.44 billion.  Verizon gave guidance for 2019 EPS of ~USD$4.73.  Verizon is rated “Attractive” in our US Large-Cap Global Top Stock Ideas.
  • Xerox (XRX) reported fourth quarter EPS of USD$1.14  while consensus was for USD$1.04.  Xerox fourth quarter revenue came at USD$2.53 billion, matching consensus of USD$2.56 billion.  Xerox gave guidance for 2019 EPS of USD$3.70-3.80.  Xerox is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology.
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US Treasuries

  • US 2-Year Treasury Notes are higher with yields down -2.32 basis points to 2.56%
  • US 5-Year Treasury Bonds are higher with yields down -4.2 basis points to 2.53%
  • US 10-Year Treasury Bonds are higher with yields down -3.78 basis points to 2.70%
  • The US Treasury 2s-5s Spread has narrowed 1.88 basis points to -0.03%
  • The US Treasury 2s-10s Spread has narrowed 1.46 basis points to 0.14%
  • US Treasury 5s-10s Spread has widened 0.42 basis points to 0.17%

Currencies

  • EUR€ is little changed 0.07% against the USD$ in after hours to 1.1436
  • GBP£ is down 0.699% against the USD$ in after hours to 1.3071
  • CHF is down 0.268% against the USD$ in after hours to 1.0053
  • JPY¥ is little changed 0.009% against the USD$ in after hours to 109.34

Commodities

  • WTI Crude is up 2.54% to USD$53.31/bbl with the Brent-WTI spread down USD$-0.32 to USD$7.48/bbl
  • Gold is up 0.65% to USD$1311.77/oz
     

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

S&P 500 Sector ETFs - End of Day

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

Russell 1000 Factor ETFs - End of Day

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

 

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S&P 500 Movers

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Outperformers Sector Price 1D % Chg Volume
PG&E Corp Utilities 6.95 16.49%      8,564,042.00
Xerox Corp Information Technology 22.8 11.40%            1,805,301
Corning Inc Information Technology 30.1 11.07%            3,552,049
Whirlpool Corp Consumer Discretionary 124 9.67%            1,194,872
Harris Corp Industrials 139 8.78%                508,443
 
Underformers Sector Price 1D % Chg Volume
Allergan PLC Health Care 153 -8.55%            1,403,615
Harley-Davidson Inc Consumer Discretionary 37.1 -5.05%            1,451,784
NVIDIA Corp Information Technology 150 -4.64%            8,139,827
Advanced Micro Devices Inc Information Technology 20.4 -4.61%          19,183,886
Twitter Inc Communication Services 33 -4.50%            2,893,757