Market 2018-03-27 (GE, TWTR, TSLA, and more)

Market has wild swing again, from early gain to big loss. Nasdaq -2.9% lost almost all the gain yesterday. The selloff is triggered by by a violent downturn in tech stocks.

Treasury: 30-year +0.89%. 10-yr +0.51%. 5-yr +0.31%. TLT +1.06%.

Crude -1.17% to $64.78. Gold -0.86% to $1,343.80. UUP +0.47%.

Morning data was good: 

Redbook Chain Store Sales: +3.6% Y/Y vs. +3.2% last week. Month-to-date sales +3.2% Y/Y. March sales are expected to be up 3.8% Y/Y and 0.6% M/M.
 
Home price index continues to rise in January. S&P Corelogic Case-Shiller HPI: +0.8% M/M vs. +0.7% consensus, +0.7% prior (revised).

Winners

Utilities Sector XLU +1.4% attracts cash as Treasury yields drop. Similar case for REITs, IYR +0.3%.

GE +4.3% amid speculation that Warren Buffett will buy a stake in the company.

Losers

All the big tech winners become losers today: NVDA -8.3% (temporarily suspending autonomous driving tests in an effort to learn more about last week's fatal Uber crash), NFLX -6.2%, ADBE -6.1%, MU -5.9%, LRCX -5.3%, AMAT -5.2%, SQ -4.7%, GOOG -4.6%, AMZN -3.8%, AAPL -2.6%, 

TWTR -12%, as it is attacked by Citron on its data licensing business.

FB -4.9%, BofA Merrill Lynch cuts PT to $210 from $230: The FTC probe could take years, The analyst says. A similar investigation into Microsoft by the FTC/DOJ took over a decade. Valuation of FB is attractive.

TSLA -8.2% as Moody's downgrades TSLA rating to B3 from B2. The outlook is negative. Tesla will soon need to execute a sizable equity raise if it wants to avoid a cash crunch.

YY -11.9% drops huge again on no news as I know. MOMO -7.3%. WB -8.2%, SINA -5.4%, NTES -5.6%, BABA -4.5%, JD -2.7%...

Earnings in AH

Lululemon Athletica (LULU -2%): Q4 EPS of $1.33 beats by $0.06. Revenue of $928.81M (+17.6% Y/Y) beats by $17.39M. Shares +6.4% in AH.

Shoe Carnival (SCVL +0.5%): Q4 EPS of $0.11 beats by $0.02. Revenue of $243.2M (+3.8% Y/Y) misses by $5.01M. Shares -3.3% in AH.

My Trades Today

double down YY @ $105, taking my average cost down to $111

Bought NVDA @ $221

Comments

  1. UnknownMarch 27, 2018 at 6:07 PM

    I am really scared of the market downtrend...

    ReplyDelete
    Replies
    1. UnknownMarch 27, 2018 at 8:01 PM

      Yes, it is very volatile, changing fast and violently. I am also stressed these days.

      Delete
  2. UnknownMarch 28, 2018 at 10:56 AM

    The volume is down...I am already sideway.

    ReplyDelete

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