Good MorningFearful equity markets pulled back more than 1.0% on Tuesday following dire news from Walmart. Walmart missed its earnings estimates and cut its guidance, citing the impact of inflation on consumer spending. While sales of food and other staple items continue to be strong, sales of discretionary items are flagging under the weight of inflation. The news was taken as a sign of weakness in the broader economy and had the market shedding discretionary and other inflation-sensitive names with the FOMC and key inflation just due out this week.
The FOMC is expected to hike rates by at least 75 basis points today and may go for a full 100 basis points in an effort to outrun inflation. Regardless, the economy is already in a recession, and it looks like inflation and Fed action are going to make it deeper. The PCE index is due on Friday and is expected to show an acceleration from the previous month. Featured: China Declares War (Ad) 
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Healthcare | |
Canopy Growth (NASDAQ: CGC) experienced a severe sell-off, as it currently trades at the very bottom of its 52-week range. It's almost near the bottom on shorter time spans, including the 50-day range. The stock is currently down -74.62%, severely underperforming the S&P 500 with a loss of -18... Read the Full Story |
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From Our Partners | | Since 2003, one private alert service has sent over 14,000 buy signals averaging 310% gains each - including the underperformers. Past picks include Butler National Corporation up 564%, D-Box Technologies up 610%, and Limbach Holdings up 790%.
The same service predicted nearly every major financial crisis of the past century and called the collapse of 99.8% of banks that failed during the Great Financial Crisis. The next alert could arrive as early as 9:30 tomorrow morning. | | Join the alert list now before tomorrow's first signal goes out |
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Technology | |
-Earnings per share came in at 2.23 versus an expectation of $2.29 per share by analysts.
-Operating income came in 8% higher at $20.5 billion, and net income was up 2% at $16.7 billion.
-Revenue was up 12%, coming in at $51.8 billion, but slowing to multi-year lows.
“In a dynamic environ... Read the Full Story |
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Consumer Staples | |
See the retailer’s warning clearly, but don’t be a prisoner of the moment
Shares of Walmart (NYSE:WMT) are down nearly 10% the day after the retailer issued a profit warning in advance of its second-quarter earnings in August. The company lowered its guidance not only for the current... Read the Full Story |
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From Our Partners | | A tanker called the Iberica Knutsen once sailed 2,272 miles from Trinidad and Tobago to deliver liquefied natural gas to Boston.
The odd part: the Marcellus Shale, one of the largest natural gas reserves in the world, sits just a few hundred miles away.
Porter Stansberry spent years digging into why this happens and what it means for the American energy system. | | Uncover the full story behind Boston's costly LNG imports |
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Technology | |
Inflation. Rising interest rates. Supply chain snags. An uptick in Covid-19 cases. Recession fears. The list goes on.
With the U.S. economy facing a myriad of challenges, 2022 has been a difficult time to be an equity investor. However, history has shown that the market finds a way to work throug... Read the Full Story |
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Consumer Staples | |
The Coca-Cola Company: A Dividend King And Growing
The Coca-Cola Company (NYSE: KO) has been an attractive investment over the past few years because of its resilience in the face of tough times. The company has been able to maintain and even grow the business while also paying a healthy 2.8% div... Read the Full Story |
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From Our Partners | | The Buffett Indicator once flagged the 1929, 1969, and 2000 market peaks - and it's now at 231%, its highest reading in history.
Gold analyst Garrett Goggin, CFA, CMT, has tracked this signal for years and says the pattern points to money rotating from overpriced tech into gold.
Porter Stansberry has called Goggin the most knowledgeable gold investor in the world. | | See Garrett Goggin's four top gold mining picks now |
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Finance | |
Cloud base artificial intelligence (AI) lending platform Upstart Holdings (NASDAQ: UPST) stock has collapsed (-82%) for 2022. It’s hard to believe the stock was trading at a high of $401.49 in October of 2021. Shares were rocketed higher by triple-digit growth blowout earnings through 2021 t... Read the Full Story |
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Consumer Discretionary | |
It takes all kinds to make the stock market go round.
From heavy-handed institutional investors to small but increasingly powerful retail traders to closely followed media pundits, there is no shortage of characters in the world of investing.
The same goes for the analytical approaches that form... Read the Full Story |
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Technology | |
Advanced Micro Devices (NASDAQ: AMD) is one of the most hotly-debated stocks in the semiconductor industry. My colleague Sam Quirke at MarketBeat recently outlined some arguments for and against investing in the stock, which included the fact that some analysts trimmed their price targets while st... Read the Full Story |
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Energy | |
Like Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX) and other oil-and-gas producers, Occidental Petroleum (NYSE: OXY) has been forming a potentially constructive consolidation, rather than falling off a cliff.
Does that mean Occidental may be poised for more gains?
Let’s take a look at the... Read the Full Story |
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Healthcare | | Medical device maker Medtronic (NYSE: MDT) stock is trading down (-14%) for the year. Medtronic is the world’s largest medical device maker with a portfolio of glucose monitors, stents, insulin pumps, pacemakers, and catheters. It serves patients in over 150 countries. The Company makes medica... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Cal-Maine Foods, Inc., together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States. Cal-Maine Foods, Inc. was founded in 1957 and is headquartered in Ridgeland, Mississippi. | | View Today's Stock Pick |
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