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Quantamize Midday Market Update

May 01, 2018

US Market Snapshot

US markets are lower today. The S&P 500 is down 0.58%, the Russell 2000 is down 0.38%, and the Nasdaq Composite is down 0.10%. 

The S&P 500 is being led lower today by Telecom (-1.89%), Industrials (-1.15%), and Energy (-1.12%), while Technology (+0.29%), Real Estate (-0.02%), and Utilities (-0.16%) are the biggest outperforming sectors.

S&P 500 Sector ETFs - Intraday 

Russell 1000 Factor ETFs - Intraday 

Stocks Trending in the News

AbbVie (ABBV) shares are 5.30% higher today after the company announced that is has begun repurchasing up to $7.5 billion worth of outstanding stock.

Facebook (FB), in the wake of scrutiny over its involvement in the Cambridge Analytica data breach, will be adding a “Clear History” feature to its site allowing users to clear data that has been stored.

Fiat Chrysler (FCAU) reported a surprise 4.5% increase in vehicles sold m/m. Edmunds.com and Cox Automotive both estimated Fiat Chrysler sales to decline.

Ford (F) vehicle sales in April fell 4.7% m/m. Ford branded sales were 4.3% lower while purchases of Lincoln luxury vehicles sharply declined by 12.1%.

Honda Motor Co (7267 JP) auto sales in April declined 9.2% m/m, worse than consensus estimates (-8.3% at Edmunds and -6.1% at Cox Automotive).

Nissan Motor Co (7201 JP) posted April vehicle sales that were significantly softer than expectations. Nissan’s auto sales plunged 28.1% m/m in April, with Edmunds.com and Cox Automotive estimating sales to decline by only 10.6% and 6.6%, respectively.

Pfizer (PFE) shares are 5.14% lower today after reporting mediocre earnings growth this morning. Pfizer is reportedly still weighing options for its consumer-health unit after an attempt to sell the unit early last month produced no “acceptable-offers”.

Schneider Electric SE (SU.FR) announced that it will be acquiring the electrical and automation division of Larsen & Toubro, India’s largest engineering and construction firm, for $2.1 billion.

Toyota Motor Co (7203 JP) sales slid 4.7% m/m in April, with Toyota branded vehicle sales declining 5.1%, while sales of Lexus autos fared better (-2.1%).

Under Armour (UAA) shares are 3.66% lower after the company announced earlier this morning that it expects widening losses in the second quarter. Under Armour has projected losses of $0.09 - $0.10 per share, higher than the $0.06 consensus.

Xylem (XYL) has projected FY2018 to fall within a range of $2.82-$2.97, compared to an expectation of $2.92.