Good MorningEquity markets got what they wanted from the Fed but it was a two-edged sword that left the S&P 500 more than 2.5% at the end of the day Wednesday. The FOMC raised rates by 765 basis points as generally expected and gave a policy statement that sounded dovish at first read. The takeaway from the statement, however, is the FOMC is prepared to keep hiking rates at the current 75 basis point clip or near-to until the data changes and the data is not good.
Not only was the latest PCE price index hotter than expected and accelerating but this week's labor data suggest economic activity isn't slowing appreciably. The ADP report came in hotter than expected and included a 7.7% increase in wages that is underpinning inflation. Add to that another upswing in oil prices and it looks like the FOMC will hit its 4.5% to 4.75% core interest rate sooner rather than later. And the S&P 500? It's still in a downtrend and heading down to retest its lows. Featured: 25 candidates screened. 5 made it. (Ad) 
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Finance | |
While the company started the year off with a big earnings drop from Q4 2021, Paypal Holdings Inc (NASDAQ: PYPL), has already begun to claw its way back. And even with the rocky start they had, the digital payment systems provider is on track to continue an impressive earnings climb over the past ... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
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Technology | |
Over the past month, the share value of Apple Inc. stock (NASDAQ: AAPL) has risen nearly 10%, currently at $150.06 per share. This value sits near the median of not only the most recent 12-month price target range ($122.00 to $200.00) but also the stock's overall 52-week range ($129.04 to $182.94)... Read the Full Story |
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Markets | |
TravelCenters of America (NASDAQ: TA) stood out the day after the company reported earnings. But not in the way investors would like. TA stock fell over 20% after the company delivered a mixed earnings report. The company beat on revenue but came in light on earnings estimates.
We’ve seen... Read the Full Story |
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Energy | | Oil-and-gas explorer Devon Energy (NYSE: DVN) was trading lower Wednesday after reporting third-quarter results after Tuesday’s closing bell.
The Oklahoma-based company beat top- and bottom-line views, but investors gave a thumbs down to Devon’s plan to slash its dividend by 13%.
Earn... Read the Full Story |
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Markets | |
Chesapeake Energy (NASDAQ:CHK) is one of the latest oil and gas companies to deliver strong earnings. On the heels of reports from “big oil” companies such as Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVK), Chesapeake showed that the little guys are getting a piece of the action as well... Read the Full Story |
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From Our Partners | | Tobacco, telecom, pipelines, and healthcare real estate trade at 10 to 15 times earnings while the index yields about 1 percent.
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Consumer Staples | |
The sell side is supportive of Mondelez International (NASDAQ: MDLZ) and helping to drive the share prices higher. The institutions have been net buyers for 4 of the last 5 quarters and have their ownership up to 76% of the company and growing. The analysts, in the wake of the Q3 earnings results,... Read the Full Story |
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Communication Services | |
Perhaps it's an omen that Snap Inc.’s (NYSE: SNAP) monthly chart is shaped like a boomerang. What soared through the air during the pandemic ultimately returned to where it was launched.
Down almost 90% from its September 2021 peak, the social media stock has been rudely ghosted by the mark... Read the Full Story |
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Consumer Staples | |
If you are wondering if the Freshpet (NASDAQ: FRPT) growth story is over it isn’t. The company is having some trouble with execution but it is clearly an in-demand product with value to investors. The question is whether or not the company can work through its growing pains or will result in... Read the Full Story |
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Consumer Staples | |
When Nomad Foods Limited (NYSE: NOMD) fell to a five-year low last week, investors decided enough was enough.
Buyers began nibbling on the U.K.-based company ahead of its preliminary financial results release on Halloween day. The timing of the bottom-feeding looks scary good with the stock now u... Read the Full Story |
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Consumer Discretionary | |
Big 5 Sporting Goods (NASDAQ: BGFV) stock fell over 8% the day after it reported third-quarter earnings. And that brings the 12-month loss for BGFV stock to over 56 percent. This drop comes even though the sporting goods retailer delivered a solid earnings report. In fact, the company beat on both... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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