Good MorningEquity markets rebounded on Thursday after an upward revision to the 2nd quarter GDP. While the revision is good news, the 2nd quarter GDP was still negative and ultimately worse than expected. The S&P 500 gained about 1.0% on the news at the high of the day and may move higher on Friday.
Friday's action will be driven by both the PCE price index and FOMC Chief Jerome Powell's speech at the Jackson Hole Symposium. The market is hoping Mr. Powell will give some indication the pace of interest rate hikes will ease but it may be disappointed. Even if the pace of inflation comes down, it is expected to remain high for a sustained period of time and is begging for the Fed to act. As it is, the CME's Fedwatch Tool is pricing in a 60% chance for another 75 basis point increase in September and there could be another in November if inflation still hasn't subsided. Featured: Jon Najarian: Tiny $6 Billion Stock Is Set to Launch (Ad) 
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Technology | |
Salesforce (NYSE: CRM) stock was down 3.3% as earnings came in weaker than analysts had expected. Analysts had predicted earnings per share to come in at $1.29, instead, the earnings per share came in slightly lower at $1.20. Despite the weaker-than-expected earnings, Salesforces' revenue came in ... Read the Full Story |
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Healthcare | |
You want to sink your money into a no-brainer stock. You want the type of stock that would have been the equivalent of investing your money in Michael Jordan in the nineties, if it would have been possible.
AbbVie Inc. (NYSE: ABBV) is a research-based biopharmaceutical company that developed as a... Read the Full Story |
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Finance | | Shares of PayPal Holdings (NASDAQ: PYPL) are up 6% since the company reported better-than-expected second-quarter results earlier this month.
Earnings fell 19% from the year-ago quarter to $0.93 per share, while revenue grew 9% to $6.8 billion. The company topped analysts’ expectations, whic... Read the Full Story |
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Consumer Discretionary | |
Williams-Sonoma (NYSE: WSM) is living proof that not all is lost within the retail world. Results within the retail sector are mixed to be sure but ultimately some have done poorly while others fared better. When it comes to Williams-Sonoma, calculus is simple. A respected brand combined with a we... Read the Full Story |
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Technology | |
Snowflake (NYSE: SNOW) reported earnings after-hours on 24th August. Shares soared over 18% after-hours as better-than-expected results played strongly into investor sentiment. Revenue surged by 83% to $497 million. The revenue retention rate came in at 171% meanwhile customers grew to 6800, i... Read the Full Story |
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Markets | | While larger medical device makers such as Medtronic (NYSE: MDT) and Intuitive Surgical (NASDAQ: ISRG) are struggling to gain traction, mid-cap Shockwave Medical (NASDAQ: SWAV) has bolted 40% higher since its second-quarter earnings report on August 8.
The company specializes in products to treat ... Read the Full Story |
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Technology | |
NVIDIA’s (NASDAQ: NVDA) 2nd quarter results reveal a growing bifurcation within the microchip industry (NASDAQ: SOXX). On the one hand, data center demand is supporting growth while on the other, weaknesses in PCs and gaming are sapping the company’s strength. In this light, NVIDIA&rsq... Read the Full Story |
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Industrials | | Cloud-based payroll and human resources management specialist Paylocity (NASDAQ: PCTY) has lost ground in recent sessions, although it’s still far from closing the gap from a price jump following its earnings report.
Paylocity offers a suite of products to simplify payroll, automate processe... Read the Full Story |
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Consumer Discretionary | | Domestic casino and gaming operator PENN Entertainment (NASDAQ: PENN) stock has changed its name to reflect the nature of its gaming businesses. The stock is trading down (-32%) for the year, but the Company has been profitable throughout the pandemic whiles it’s competitors like Las Vegas San... Read the Full Story |
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Consumer Staples | |
The Kraft Heinz Company, well-known worldwide for its successful brands, may offer investors a great dividend option.
The Kraft Heinz Company was formed in 2015 through a merger between Kraft Foods and Heinz, and Warren Buffett got involved in the merger in 2013, owning a 26.65% stake and over 3... Read the Full Story |
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Friday's Early Bird Stock Of The Day Ecolab Inc. provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries. Its Global Institutional & Specialty segment provides specialized cleaning and sanitizing products to the foodservice, hospitality, lodging, government and education, and retail industries. The Global Healthcare & Life Sciences segment offers specialized cleaning and sanitizing products to the healthcare, personal care, and pharmaceutical industries, such as infection prevention and surgical solutions, and end-to-end cleaning and contamination control solutions under the Ecolab, Microtek, and Anios brand names. In addition, the company provides pest elimination services to detect, eliminate, and prevent pests, such as rodents and insects in restaurants, food and beverage processors, hotels, grocery operations, and other commercial segments including education, life sciences, and healthcare customers. Further, it offers colloidal silica for binding and polishing applications in semiconductor, catalyst, and aerospace component manufacturing, as well as chemical industries; and products and services that manage wash process through custom designed programs, premium products, dispensing equipment, water and energy management, and reduction, as well as real time data management. It sells its products through field sales and corporate account personnel, distributors, and dealers. Ecolab Inc. was founded in 1923 and is headquartered in Saint Paul, Minnesota. | | View Today's Stock Pick |
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