Market 2018-04-17 (Tech Rally, and more)

It is TAX day. IRS payment system is down.

Stocks, commodities and bonds all go north today. Tech leads the rally, QQQ +2.1%.

30-year +0.19%. 10-yr +0.06%. 5-yr +0.01%. TLT +0.27%
Crude +0.38% to $66.47. Gold -0.04% to $1,350.20. NUGT +1.3%.

Chicago Fed President Charles Evans says he's optimistic inflation will rise to the central bank's 2% target.

Starbucks (SBUX +0.7%) will close more than 8000 stores on 5/29 for employee racial-bias training, regarding the recent event in Philly.

Winners

U.S. Supreme Court justices appear undecided on whether states should force out-of-state e-commerce companies to collect sales taxes. AMZN +4.3%. FAANG all shoot higher today: NFLX +9.2%, GOOG +3.5%, FB +2.3%, AAPL +1.4%. 

The U.S. Supreme Court says the privacy fight it was considering between the Justice Department and Microsoft (MSFT +2%) is now moot and dismisses the case.

Semiconductor sector is strong, SOXX +1.9%. LRCX +4.3%,  NVDA +2.6%, AMD +4%, INTC +2.2%...

BABA +2.3%, BIDU +2.5% lead Chinese Tech names higher.

UNH +3.6% after reporting Q1 EPS of $3.04 beats by $0.12. Revenue of $55.19B (+13.3% Y/Y) beats by $330M.

General Electric (GE +3.5%) is sharply higher following reports that Cummins (CMI +0.5%) may be a potential suitor for GE's Jenbacher unit.

Dollar General (DG +2.9%) higher after JPM upgrades the retailer to Overweight from Neutral. DLTR +1.3%.

Losers

GS -1.7% despite ER beats, taking the whole section down XLF flat.

JNJ -1% despite Q1 EPS of $2.06 beats by $0.05. Revenue of $20.01B (+12.6% Y/Y) beats by $630M.

Southwest (LUV -1.1%)  after the NTSB confirms that a passenger died during an incident when one of the company's planes had a severe engine failure.

TSLA -1.2% is under pressure on safety issues (on NPR today again) and another production shutdown. The automaker is suspending the assembly line for 4-5 days despite being somewhat behind schedule. Workers on the line are expected to use vacation days or stay home without pay while some will be offered paid work elsewhere in the factory, according to the report.

Hasbro (HAS -2.2%) and Mattel (MAT -2.7%) are lower on the day amid reports that an offer from MGA Entertainment's Isaac Larian for Toys "R' Us was turned down.

Earnings in AH

LRCX +4.3% Q3 EPS of $4.79 beats by $0.43. Revenue of $2.89B (+34.4% Y/Y) beats by $40M. Upside Q4 guidance has revenue from $2.95B to $3.25B (consensus: $2.94B) with EPS from $4.80 to $5.20 (consensus: $4.65) and non-GAAP gross margin of 46.5% to 48.5%.  Shares -3.5% in AH.

IBM +1.9%, Q1 EPS of $2.45 beats by $0.06. Revenue of $19.08B (+5.1% Y/Y) beats by $370M. Shares -5.6% in AH.

Intuitive Surgical (ISRG +4.1%): Q1 EPS of $2.44 beats by $0.35. Revenue of $847.5M (+24.7% Y/Y) beats by $64.22M. Shares +5.2% in AH.

United Continental (UAL flat): Q1 EPS of $0.50 beats by $0.01. Revenue of $9.03B (+7.2% Y/Y) beats by $30M. Shares +2.6% in AH.

My Trades Today

Sold half TELL @ $9.2
Sold half QD @ $11
Sold 1/6 YY @ $96 (the shares I bought last week between $90 and $92) to reduce weight

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