ticker

Proposed U.S. Budget Seeks Lower Federal Deficit

Brian Turner
28 Mar, 2022
New York City

The largest military budget in the world is likely to get even larger according to the latest budget proposal from the U.S. president. Of the $5.8 trillion budget proposed by President Biden, $795 billion is for military spending, higher than $770 billion in 2022, and $915 billion for domestic programs with the remainder for mandatory spending.

Movers: Tesla, Poly, AMC Entertainment

Barry Adams
28 Mar, 2022
New York City

Tesla jumped nearly 8% after the company said it is looking to split the stock without declaring the date and split ratio. AMC Entertainment surged 25% after the company CEO said more acquisitions are in the pipeline. Poly soared 50% after the communication company agreed to be acquired by HP Inc.

U.S. Stock Indexes Waver on Rising U.S. Bond Yields

Barry Adams
28 Mar, 2022
New York City

U.S. stock indexes traded sideways and tech stocks rebounded from the morning doldrums. U.S. bond yields were in focus after 5-year bonds traded at 2.56%, 10-year at 2.46%, and 30-year yield at 2.54%. The ever tightening and rising yields are reflecting growing acceptance of larger rate increases in the coming months.

U.S. Stocks Trim Second Weekly Gains on Expanding Negative Real Rates

Barry Adams
25 Mar, 2022
New York City

U.S. indexes turned lower and gave up early gains on the growing worries that the fast rising crude oil and commodities prices are contributing to the latest bout of inflation. Fed is lagging considerably as real rates expands further in negative territory.

Wild Trading On Moscow Stock Exchange

Mukesh Buch
25 Mar, 2022
New York City

The Moscow Stock Exchange reopened after a month on Monday , the longest hiatus since the fall of Soviet Union, and traded federal government bonds on Monday and began trading stocks on Thursday. The dollar denominated RTS index plunged 9% at close and the ruble based MOEX Russia Index closed down 4.4% after opening 10% higher.

Focus on U.S. Direct Sales Lifts Nike Sales

Scott Peters
24 Mar, 2022
New York City

Nike said February quarter sales rose 5% to $10.87 billion from a year ago and earnings edged lower to $1.4 billion from $1.45 billion in the previous quarter. Earnings per share fell to 87 cents from 90 cents. The athletic goods maker has increasingly shifted from wholesale to selling direct.

Ukraine War Disruptions Lift Wheat, Corn, Cotton, Sunflower Oil Prices

Mukesh Buch
24 Mar, 2022
New York City

Commodities price surge is expected to continue as Ukraine war adds to already stretched supply chain worries. Ukraine supplies about half of global sunflower oil used for bio fuel and cooking and about 11% of wheat and 17% of corn of world exports.

KB Home Average Home Selling Price Rises to $490,000

Scott Peters
24 Mar, 2022
New York City

KB Home said fiscal quarter revenues rose 23% to $1.49 billion and earnings increased 38% to $134.3 million and earnings per share rose 44% to $1.47. The home builder delivered 2,868 new homes, an increase of 22% but said labor shortage and supply chain issues intensified in the quarter.

Darden Sales and Earnings Surge Despite Omicron Disruptions

Mukesh Buch
24 Mar, 2022
New York City

Darden Restaurants, the parent of Olive Garden, said quarter sales rose 41.3% from a year ago quarter to $2.45 billion and earnings jumped 90% to $247 million or $1.93 a share. The restaurant operator plans to pass 3% price hike after commodities prices rose 11% in the quarter.

Stocks in New York Halt 7-Day Advance

Barry Adams
23 Mar, 2022
New York City

Stocks in New York struggled to stay in the positive and halted advance for the seventh day in a row. Crude oil prices jumped 5% and producers worry about demand destruction. Home builder stocks declined on the rising mortgage rates. Adobe fell on earnings outlook.

Tech Heavy Nasdaq Rebounds 2%

Barry Adams
22 Mar, 2022
New York City

The battered and tech heavy Nasdaq index rebounded 2% and extended gains of last week after investors looked beyond rate hike worries. The S&P 500 index added 1.1%.

Dollar General Falls on Lower Outlook, HD Supply, Movado Net Tumble

Mukesh Buch
21 Feb, 2019
New York City

AutoZone first-quarter same store sales jumped. Dollar General declined on lowered fiscal outlook. HD Supply beat sales and profit estimates and lifted fiscal outlook. Movado tumbled despite net tumbled. Toll Brothers profit beats estimates but orders decline.

Accenture Revenues Surges; Conagra, Walgreens Beat Earnings Estimates

Mukesh Buch
19 Feb, 2019
New York City

Accenture declined despite outsourcing services provider lifted fiscal outlook. BlackBerry net swung to profit. Carnival beats earnings estimates. Conagra tumbled after net declined. Herman Miller reported higher-than-expected results. Walgreens reported strong results.

Anglo American Lifts Production Outlook, Euronext to Buy Oslo Exchange

Sarla Buch
19 Feb, 2019
London

Anglo American lifted fiscal 2019 production forecast in Brazil after winning the regulatory approval for production expansion. Euronext intends to acquire Oslo stock exchange. Playtech declined after new Italian tax on gambling may reduce its fiscal operating profit.

Apple iPhone China Sales Declines, Teva Pharma Net Loss Narrows

Mukesh Buch
15 Feb, 2019
New York City

Apple iPhone sales in China declined. Barrick Gold net loss widened on higher cost of sales. Diebold net loss widened despite revenues jumped. FLIR Systems net swung to a loss after revenues declined. Teva Pharma net loss narrowed after revenues plunged.

Market Update