Good MorningEquity markets treaded water on Wednesday while traders digested Tuesday's gains. The question on everyone's minds is whether the summer rally will continue or not, and it may be answered on Friday. The May read of the PCE price index is due out and is not expected to give the FOMC much reprieve. The risk for investors is that the market won't heed the message given by the FOMC and continue to rally despite hot inflation. In that scenario, the top of the market may be reached when the FOMC hikes rates again later this year.
The earnings news is less than robust. The latest from General Mills echoes news from Walgreens Boots Alliance in that cautious consumer habits are weighing on the outlook. In the case of General Mills, price hikes continue to offset weak volume and produce growth, but that situation can not last forever, and discretionary names are suffering for it. Nike is scheduled to report after the close of trading today and may shed more light on the matter. Featured: Elon’s big $266,000 per second purchase (Ad) 
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Technology | |
Advanced Micro Devices (NASDAQ: AMD) has been one of the standout performing semiconductor and NASDAQ companies of 2023. YTD shares of the semiconductor company are up about 70%, last trading near $109. This comes after the stock has recently pulled back almost 18% from the year's high, $132.83, s... Read the Full Story |
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Aerospace | |
Shares of AeroVironment Inc. (NASDAQ: AVAV) rose by as much as 5.9% in the after-market hours of Tuesday evening. The price action stems from the company releasing its fourth quarter 2023 earnings results. After posting record-breaking figures across critical drivers in the business, alongside man... Read the Full Story |
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Industrials | |
Unifirst (NYSE: UNF) is not an evident value trading at 24X its earnings outlook. The broad market S&P 500 trades at only 17X or 18X of its earnings, which is well below UniFirst and comes with a better dividend. The problem with that comparison is that its closest competitor Cintas (NYSE: CTA... Read the Full Story |
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From Our Partners | | Trump is launching a new $250 bill - but that may be a distraction. Behind the scenes, Executive Order 14241 is orchestrating what analyst Porter Stansberry calls a total U.S. money reset, bypassing conventional legal channels under the guise of national security.
The last time America reset its currency - under Nixon in the 1970s - it created an average of 1,300 new millionaires a day for over 50 years. Stansberry has identified three asset categories connected to Trump's initiative that could surge, plus his single top investment move. | | Watch the documentary briefing and find out which side you land on |
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Finance | |
Jefferies Financial Group (NYSE: JEF) has missed earnings expectations by a massive 84.6%, making the second quarter of 2023 one of the least profitable quarters for the firm since the 2008 financial crisis.
Jefferies stock has been on a bit of a downtrend since the price peaked in 2021 at $44.7... Read the Full Story |
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Consumer Staples | |
General Mills (NYSE: GIS) retreated following the Q4 results and guidance marking an opportune time to buy the stock. The retreat is due to mixed results and guidance that left investors wanting more, but there is a bigger story. While tepid, the guidance calls for growth in a high-quality dividen... Read the Full Story |
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Finance | |
Income investors who like defensive grocery store stocks may want to add Phillips Edison & Company, Inc. (NASDAQ: PECO) to their shopping list.
The grocery-focused real estate investment trust (REIT) is finally cooling off from a sizzling start to the summer. After surging 21% off its May 2... Read the Full Story |
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Industrials | |
Generac Holdings Inc. (NYSE: GNRC) was the second-biggest price mover in the S&P 500 on June 27. The stock gapped up at the open and advanced $11.52, or 8.79%, to finish at $142.53. Trading volume was more than double.
With the day’s move, Generac shares cleared a four-month base with a... Read the Full Story |
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Finance | |
As shareholders of pet insurer Trupanion Inc. (NASDAQ: TRUP) learned last month, when you post a net loss that's twice what Wall Street expected, things get a little fuzzy.
The May 5 post-earnings drop marked another leg down for the provider of medical plans for dogs and cats. After benefitting ... Read the Full Story |
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Technology | |
Data analytics software developer Splunk Inc. (NASDAQ: SPLK) is up more than 6% since its most recent quarterly earnings report in May.
Like many stocks, Splunk's recent price action has been correlated with the broader market, as shares declined after rallying to June highs. That paralleled ac... Read the Full Story |
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Medical | |
Clinical stage biotech MoonLake Immunotherapeutics AG (NASDAQ: MLTX) shares spiked 70% on positive phase two clinical trial results. The company specializes in nanobodies, fragments of antibodies that can bind to smaller targets. Due to their smaller size, they can penetrate tissue better, are res... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced. The Asset Management and Other Services segment provides services to the legal industry, including litigation insurance. Burford Capital Limited was incorporated in 2009 and is based in Saint Peter Port, Guernsey. | | View Today's Stock Pick |
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