Good MorningInvestor confidence was rattled on Tuesday when word of not one but two trials of COVID-19 vaccines was halted due to “adverse” events. The news triggered an early morning sell-off that had the major indices down about -0.50% when the opening bell sounded. While concerning, the news was largely shrugged off in favor of earnings from JP Morgan Chase and Citigroup. The nation’s two largest consumer banks reported better than expected results that foreshadow what could be a market-moving earnings season.
Revenue at both JP Morgan and Citigroup fell on a YOY period but came in above the consensus estimates. The most noteworthy detail in either report is that reserve-builds for credit losses were less than expected. In light of the current conditions, the slowdown in reserve-build was taken as a vote of confidence in the economic recovery. If the rest of the financial sector reports in like fashion a new all-time high is in store for the S&P 500.
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Sometimes a company issues positive news and its stock price inexplicably goes down. Investors that take advantage of these situations can come out ahead when the market catches up with reality.
Last week GenMark Diagnostics (NASDAQ:GNMK) provided better than expected revenue guidance and announc... Read the Full Story |
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From Our Partners | | Tesla's About to Prove Everyone Wrong... Again
Back in 2018, when Jeff Brown told everyone to buy Tesla…
The "experts" said Elon was finished and Tesla was headed for bankruptcy.
Now they're saying the same thing, but Jeff has uncovered Tesla's next breakthrough. | | Click here to see why Tesla's about to prove everyone wrong... again. |
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Markets | | | JPMorgan Chase & Co Is A Buy After Reporting Q3 Result
After reviewing the JPMorgan Chase & Co (NYSE:JPM) calendar Q3 earnings report and looking at the chart I cannot believe this stock is still trading at such a low valuation. Trading at only 17X this year’s consensus and 12X next i... Read the Full Story |
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A Golden-Age For Fastenal?
I’ve heard (read I should say) that current conditions are a “golden age” for homebuilders. Pent-up demand, low inventory, streamlined businesses, and low-interest rates are combining in a way that means sustained, healthy business for the home builder... Read the Full Story |
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Markets | | | Admittedly, things weren't looking good for AstraZeneca (LON:AZN) for a while there. With good reason, too; its vaccine trials were stopped dead in their tracks when some truly disastrous side effects started showing up, Read the Full Story |
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Markets | | | The Upgrades Are Already Rolling In For Levi Strauss
Levi Strauss (NYSE:LEVI) reported earnings about a week ago and blew away the consensus. The company proved that established brands with a healthy eCommerce presence are well-positioned for the pandemic. The company saw its revenue fall nearly 27... Read the Full Story |
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From Our Partners | | Cold War Discovery Could Unlock $100 Trillion in Wealth
Jeff recently traveled to an American ghost town to investigate this crazy Cold War story…
Because it could hold the key to the entire $100 trillion AI boom.
It involves an American ghost town with just 30 people…
And a new twist to the AI boom that could make a lot of people rich. | | Click here to see the details on what could be the biggest tech story of this decade. |
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The Early Bird Stock Of The Day CareDx, Inc. engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients. The company offers Olerup SSP, which is used to type human leukocyte antigen (HLA) alleles based on sequence specific primer technology; QTYPE that enables precision in HLA typing; and Ottr, a transplant patient management software. In addition, it provides AlloSeq Tx, a high-resolution HLA typing solution; AlloSeq cfDNA, a surveillance solution to measure dd-cfDNA in blood; AlloSeq HCT, a solution for chimerism testing for stem cell transplant recipients; Allocell, a surveillance solution that monitors the level of engraftment and persistence of allogeneic cells for patients who have received cell therapy transplants; and XynQAPI cloud-based transplant quality management software, as well as AlloCare, a mobile app that offers a patient-centric resource for transplant recipients. The company offers its products directly to customers, as well as through third-party distributors and sub-distributors. It has a license agreement with Illumina, Inc. for the distribution, development, and commercialization of NGS products and technologies; and Cibiltech SAS to commercialize iBox, a software for the predictive analysis of post-transplantation kidney allograft loss. The company was formerly known as XDx, Inc. and changed its name to CareDx, Inc. in March 2014. The company was incorporated in 1998 and is headquartered in South San Francisco, California. | | View Today's Stock Pick |
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