Category Archive: Finance
The Truth Behind Many Of Wall Street’s “Winners”
I have a confession to make. I like betting against companies. I enjoy it! There’s nothing more thrilling to me professionally than catching a company’s management team with their hand in the cookie jar and watching the stock price implode when their shenanigans are exposed. But, just because I’m a short seller doesn’t mean I’m a “permabear.” […]
New Jobless Claims Rise By 10K, But 4-Week Moving Average Lowest Since April 15, 2000
Here is the opening statement from the Department of Labor: In the week ending May 16, the advance figure for seasonally adjusted initial claims was 274,000, an increase of 10,000 from the previous week’s unrevised level of 264,000. The 4-week moving average was 266,250, a decrease of 5,500 from the previous week’s unrevised average of […]
Gold Finds Support But Lacks Momentum
Gold edged higher on Wednesday as the dollar pared its recent gains after minutes from the Fed’s last meeting showed policy makers believed June is probably too soon to start raising interest rates. “Many participants, however, thought it unlikely that the data available in June would provide sufficient confirmation that the conditions for raising the […]
Best Buy Q1 Earnings & Revenues Beat Estimates
Best Buy Co., Inc. (BBY – Analyst Report), specialty retailer of consumer electronics, came out with first-quarter fiscal 2016 results, wherein adjusted earnings of 37 cents a share beat the Zacks Consensus Estimate of 29 cents, and increased 5.7% from the prior-year quarter. Renew Blue transformation program and strength seen in categories like large screen televisions and mobile […]
Ominous Stock Market Charts
A Big Dow Theory Divergence We briefly want to show a few charts that have caught our eye recently. This is by no means a comprehensive market update (we plan to provide one soon). Here is something though one doesn’t see all too often: the Dow Industrials and Transportation averages have diverged from each other […]
UBS And JMP Securities Downgrade Achillion Pharmaceuticals, Inc. Following Johnson & Johnson Deal
Biotechnology company Achillion Pharmaceuticals (NASDAQ: ACHN) fell about 10% in trading on Wednesday, May 20 following the company’s announcement that it licensed its hepatitis C drug pipeline to Johnson & Johnson (NYSE: JNJ) for $1.1 billion. In the terms of the deal, Johnson & Johnson will pay Achillion Pharmaceuticals milestone payments totaling $1.1 billion throughout the development […]
Red Hot Shanghai Pushed Above Another Resistance Level
When it comes to Red Hot stock markets the Shanghai index fits the bill. Below looks at the Year-To-Date performance of the Shanghai, DAX and S&P 500 indices. CLICK ON CHART TO ENLARGE As you can see the S&P 500 is lagging big time this year and even though the DAX is having a great […]
E Value And Beyond: Why Stock Prices Are What They Are, Part 4
<< Read Part 1: Why Stock Prices Are What They Are <<Read Part 2: From Dividends To EPS – Why Stock Prices Are What They Are <<Read Part 3: Out Of The Ivory Tower – Why Stock Prices Are What They Are This series discussing why stocks are priced as they are has traveled a log way. We […]
Morning Call For May 21, 2015
OVERNIGHT MARKETS AND NEWS June E-mini S&Ps (ESM15 -0.12%) this morning are down -0.21% ahead of economic data on U.S. Apr existing home sales and weekly jobless claims to gauge the timing of a Fed interest rate increase after Wednesday afternoon’s Apr 28-29 FOMC minutes reinforced the message that rates could rise at any Fed meeting. European stocks are […]
