Good MorningEquity markets ended a turbulent week on solid footing, rising more than 2.0% on Friday. The move was supported by a robust NFP report that shows job and wage gains with unemployment lingering at low levels. The news suggests core economic strength that will help the Fed achieve its soft-landing but other data disagrees. The number of layoffs is rising while job availability declines and consumer products manufacturers brace for a downturn in spending.
Next week will be about inflation with reports on CPI, PPI and import prices. The CPI data is expected to come in flat compared to the previous month, which is hot and contrary to the idea of the Fed pausing. The risk for the market is that inflation will persist at these levels into the summer and force another interest rate hike. In that scenario, more banks will fail, and consumer spending will slow further. Featured: 48-Hour Alert: This Signal Just Flashed on (TICKER). Get Daily Edge Report Today (Ad) 
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Consumer Discretionary | |
DoorDash Inc. (NYSE: DASH) showed up at Wall Street’s door with better-than-expected revenue in its first-quarter report, sending shares modestly higher.
The stock was up as much as 3.94% in the opening minutes of the session on May 5, but it settled down to a much more mild gain of 0.11% ... Read the Full Story |
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Technology | |
What’s the best way to handle a stock that’s posted gains in five of the past seven months, boasts a year-to-date return of more than 88%, is the S&P 500’s second-biggest gainer so far in 2023, and that Wall Street expects to grow earnings by 47% next year?
The stock meeting... Read the Full Story |
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Consumer Discretionary | |
Booking.com (NASDAQ: BKNG) is moving lower after reporting solid results and spurring analysts to raise their targets. The reason could be that EBITDA came short of expectations, but so what if it did? EBITDA fell short of expectations, but it is up 89% YOY, and it topped $585 million with a net i... Read the Full Story |
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Technology | |
Shopify (NYSE: SHOP) had the opportunity to deliver growth and efficiency in Q1, and it did that and more. The results and outlook have the stock up more than 20% and are on the cusp of a complete reversal. Given the outlook for growth and profitability, analysts will likely up their targets, whic... Read the Full Story |
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Technology | |
Advanced Micro Devices (NASDAQ: AMD) share prices imploded following the Q1 release, but it is not the bearish move it might otherwise be. The move is driven by the guidance, which is tepid and potentially cautious given the environment, but that is the near-term picture. The long-term picture is ... Read the Full Story |
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Technology | |
Mega-cap chipmaker Broadcom Inc. (NASDAQ: AVGO) has been trading in a narrow range since gapping higher following its first-quarter earnings report in early March.
Broadcom stock gapped up 5.70% after the company topped sales and earnings views, as you can see using MarketBeat’s Broadcom e... Read the Full Story |
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Consumer Discretionary | |
Shares of Starbucks (NASDAQ: SBUX) were down more than 6% after the company disappointed the market with guidance. As bad as the move is, it is not a signal to run for the hills or start shedding a position. The pullback is a knee-jerk reaction to an as-expected event in which investors secretly h... Read the Full Story |
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Healthcare | |
As the business cycle gets off its high peak, and interest rates continue to rise in an attempt to get rid of inflation's ugly head, markets and investors alike begin to favor high-quality predictable cash flows over projections and promises of growth. In the real estate side of markets, the glory... Read the Full Story |
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Consumer Discretionary | |
The global automotive industry has been one of the slowest cyclical groups to recover from the pandemic. When restaurants and retailers got back on their feet, automakers continued to struggle with parts shortages and lingering supply chain issues.
As the industry plays catch up, there are signs... Read the Full Story |
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Industrials | |
Typically after a company releases earnings, investors react by weighing two pieces of important information. Firstly, the actual earnings results and other critical financial metrics about the underlying business can be a placeholder to digest what occurred through the period. Secondly, and perha... Read the Full Story |
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Monday's Early Bird Stock Of The Day PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands. The company's portfolio also includes PENN Play, customer loyalty program, which offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Hollywood Casino, Hollywood Gaming, L'Auberge, PENN Play, theScore, theScore Bet, theScore esports, and M Resort. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania. | | View Today's Stock Pick |
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