Good MorningThe equities markets continue to prove their resilience by holding post-pandemic highs into the close of last week’s trading. The S&P 500 closed on Friday with barely a budge from the previous day’s session and up nearly 3.5% for the week. While not a robust move, the action is bullish and proves the smart money unwilling to be out of the market ahead of next week’s earnings deluge.
Next week begins the peak of earnings season. There are 92 S&P 500 companies set to report including 8 Dow Components. To date, roughly three-quarters of companies that already reported for the quarter beat their estimates. Although the 2nd quarter cycle won’t be good regarding earnings growth it is shaping up to be much better than expected. The risk for traders now is the virus and how it may impact the second half of the year. If the outlook for earnings does not continue to improve the equity market could be in for another deep plunge.
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Whether or not you think the rally in tech stocks can continue, you can’t deny the fact that secular growth is occurring in the cloud computing space. There are plenty of new cloud services companies emerging that have a lot to offer investors in terms of growth and innovation. Even if techn... Read the Full Story |
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On July 15, Goldman Sachs (NYSE: GS) posted earnings that blew away expectations. Goldman stock charged up nearly $10 at the opening bell, but has cooled off some. About two hours into trading the stock is up just over 1%.
This is leaving investors wondering what Morgan Stanley (NYSE: MS) will do... Read the Full Story |
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Stocks | | | The Tides Are Turning
It was only a quarter ago that warnings from truckers and analysts alike sent the entire complex moving lower. Now, a quarter later, the tides are turning as economic rebounding gets underway. Bank of America issued it’s 2nd half trucking outlook to investors just the ot... Read the Full Story |
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California-based athletic equipment and apparel company Big Five Sporting Goods (NASDAQ: BGFV) has its rally cap on and investors may want to take notice.
On July 9th Big Five reported preliminary second-quarter results that caught the market off guard. After recording a net loss of 3 cents per s... Read the Full Story |
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Markets | | | After reviewing the earnings statement and looking at the charts, I have come to the conclusion that UnitedHealth Group (NYSE: UNH) is a #2 verging on #3. All it needs now is to break out to make it a buy. Read the Full Story |
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The Early Bird Stock Of The Day Magenta Therapeutics, Inc., a biotechnology company focus on improving stem cell transplantation. Its product candidates are designed to bring the curative power of stem cell transplant to patients with blood cancers, genetic diseases, and autoimmune diseases. The company's product portfolio includes MGTA-117, an anti-CD117 antibody conjugated to an amanitin payload that targets hematopoietic stem cells (HSCs) and leukemia cells; and MGTA-45, an anti-human CD45 antibody conjugated to a DNA-interacting payload for HSCs, leukemia cells, and immune cells. In addition, it focus on development of ADC-based conditioning program that targets a receptor of T cells; and novel conditioning and translation stem cell sciences, as well as develops cell therapy program, E478, which is a small molecule aryl hydrocarbon receptor antagonist for stem cell-based gene therapy and genome editing. In addition, the company has a research and clinical collaboration agreement with AVROBIO, Inc. for the treatment of lysosomal storage disorders; and Beam Therapeutics, Inc. to evaluate the potential utility of MGTA-117 for conditioning of patients with sickle cell disease and beta-thalassemia. Magenta Therapeutics, Inc. was formerly known as HSCTCo Therapeutics, Inc. and changed its name to Magenta Therapeutics, Inc. in February 2016. The company was incorporated in 2015 and is headquartered in Cambridge, Massachusetts. | | View Today's Stock Pick |
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