Market 2018-04-20 (GE. AAPL, SKX and more)

Today's selloff was broad, with 10 of 11 S&P 500 sectors finishing in the red, as tech (-1.5%) and consumer staples (-1.7%) were the worst performers, while financials (+0.1%) finished at the top of the sector standings with a slight gain.

Treasury yields continue to rise: 30-year -0.6%. 10-yr -0.3%. 5-yr -0.18%. TLT -0.72%.

Crude -0.01% to $68.28. Gold -0.79% to $1,338.10. UUP +0.6%.

Winners

Wells Fargo WFC +2%, after removing the overhang of a couple of government probes by agreeing to pay a $1B fine.

RF +4.1%, Q1 EPS of $0.35 beats by $0.04. Revenue of $1.41B (+6.0% Y/Y) misses by $30M. XLF flat.

 CLF +7.4% on raised outlook for iron ore pellet volume, prices。

HON +1.6%, Q1 EPS of $1.95 beats by $0.04. Revenue of $10.39B (+9.5% Y/Y) beats by $360M.

GE +3.9%, Q1 EPS $0.16 beat by $0.04, Revenue of $28.66B (+6.6%) beat by $1.14B. Very encouraging.

BHGE +0.8%, Q1 EPS of $0.09 beats by $0.03. Revenue of $5.4B (+76.5% Y/Y) misses by $20M.

Losers

California's Division of Occupational Safety and Health is investigating a serious injury at Tesla's (TSLA -3.3%) assembly plant in Fremont on 4/12: a worker breaking his jaw when he was struck by a skid carrier.

Apple -4.1% as iPhone X might be dead this year (Apple is not ordering new parts for next generation). AMZN -1.9%, FB -1.1%, GOOG -1.3%, NFLX -1.5%.

Chinese Tech companies are also down: JD -3.8% as Credit Suisse slashes earnings outlook, BABA -1.3%, NTES -3.2%, YY -2.6%....

SLB -1.5% despite ER beats: Q1 EPS of $0.38 beats by $0.01. Revenue of $7.83B (+13.6% Y/Y) beats by $20M.

SWK -6.7% regardless ER beats: Q1 EPS of $1.39 beats by $0.03. Revenue of $3.21B (+12.2% Y/Y) beats by $110M.

SKX -27%, after guidance disappoints, which raises concerns on margins in the footwear sector. DECK -3.5%, FL -1.8%... I would like to wait for a few days before jumping in.

My Trades Today

Bought BGS
Bought LB
Bought OHI

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