Good MorningEquity markets pulled back on Wednesday following weaker-than-expected results from Target. Target not only reported weak but warned about a potentially weak quarter in Q4 along with rising inventories. The news sent the stock down more than 15% at the low of the day and took the S&P 500 index down nearly a full percentage point along with it. The move has the S&P 500 confirming resistance at the 4,000 level where it has been present before. If the index can't overcome this hurdle the odds are high that it will retest the 3,800 level or lower.
Wednesday's move comes despite a stronger-than-expected retail sales figure that has sales up more than 1.0% from the previous month. While good news, the gains are due in large part to inflation which is still raging and a sign the FOMC has more work to do. The next FOMC meeting is in less than 1 month and should bring at least another 50 basis points interest rate increase. Featured: 5 Stocks Poised to Soar Under Trump's Presidency (Ad) 
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More than two dozen analysts offering 12-month price targets for Costco Wholesale (NASDAQ: COST) have arrived at a median price forecast of $562.50. This is on the higher side of the $455 to $650 range. The stock has an all-time high of $604.96 (April 7, 2022), which means the stock could register... Read the Full Story |
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Politics | | | A federal judge on Thursday handed down a 20-year prison sentence to a Chinese national who was convicted of trying to steal trade secrets from multiple U.S. aviation and aerospace companies, including the theft of proprietary airplane engine fan technology.
Judge Timothy Black in Cin... Read the Full Story |
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Markets | | | Digital lodging platform Airbnb (NASDAQ: ABNB) shares took a plunge on its Q3 2022 earnings release as the forward guidance was tepid. The Company was “born” in 2007, as a digital booking and home rental platform connecting hosts with guests to rent out their property for days to weeks a... Read the Full Story |
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Tech | | | Taiwan’s envoy to APEC is the 91-year-old billionaire founder of a computer chip manufacturing giant that operated behind the scenes for decades before being thrust into the center of U.S.-Chinese tension over technology and security Read the Full Story |
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Markets | | | The hulking grandstand at the shuttered Arlington International Racecourse casts an eerie shadow as the sun sets on a weekday evening. It sits dormant on a tract of land that could be transformed in a major way.
With the galloping horses long gone, the Chicago Bears see 326 acres of o... Read the Full Story |
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If International Game Technology PLC (NYSE: IGT) were a slot machine, it would be showing three diamonds. The stock is up more than 60% from its September 2022 low and on the move following a sparkling third-quarter performance.
As far as reopening plays go, the electronic gaming equipment maker ... Read the Full Story |
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The TJX Companies (NYSE: TJX) could break out to new highs but it probably won’t because its Q3 results echo news from Target (NYSE: TGT), Walmart (NYSE: WMT) and Home Depot (NYSE: HD) earlier this week. While the Q3 period was OK, there are mitigating factors that take the sparkle out of th... Read the Full Story |
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Markets | | | Three meat plant workers have filed a federal lawsuit accusing 11 of the United States’ largest beef and pork producers of conspiring to depress wages and benefits.
The lawsuit, filed in federal court in Denver on Friday, seeks class-action status and alleges the producers have worked... Read the Full Story |
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Politics | | | NATO member Poland and the head of the military alliance both said Wednesday that a missile strike in Polish farmland that killed two people appeared to be unintentional and was probably launched by air defenses in neighboring Ukraine. Russia had been bombarding Ukraine at the time in an attack that... Read the Full Story |
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Lowe’s (NYSE: LOW) is up strong following a solid report that was foreshadowed by Home Depot (NYSE: HD). Home Depot gave a better-than-expected report driven in large part by strength in the DIY channels and Lowe’s has more exposure to those channels. With the coming (current) quarter ... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Stryve Foods, Inc. manufactures, markets, and sells snacking products in North America. The company's product portfolio consists primarily of air-dried meat snack products marketed under the Stryve, Kalahari, Braaitime, and Vacadillos brands. It also produces charcuterie slabs, thinly sliced steaks, air-dried beef sticks, biltong, biltong slabs, crisps, carne seca, sliced biltong, and droëwors products, as well as markets and sells human-grade pet treats under the brand Two Tails. The company distributes its products through retail channels, including grocery, club stores, and other retail outlets; convenience store; mass merchants; and directly to consumers through its e-commerce websites, as well as directly to consumer through the Amazon and Walmart platforms. Stryve Foods, Inc. was founded in 2017 and is headquartered in Plano, Texas. | | View Today's Stock Pick |
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