Market 2017-10-04, (GOOG, MYL and more)

The bulls seems to lose stream today, although all three indexes finish green again.
Dow Jones +0.09% to 22,661.57. S&P 500 +0.12% to 2,537.73. Nasdaq +0.04% to 6,534.63

What is Going on Today?

Google (-0.64%) shows new products: phone --- Pixel 2 (waiting for reviews), Home products (integrate Nest), Pixelbook laptop ($999 up), 'smart' Clips camera (GoPro had a hit today, -6.4%), and VR headset.

TEVA (-14.6%) took a hit after FDA approved Mylan (MYL, +16.2%) generic MS treatment, BIIB also dropped below $308 at the opening, but recovered most of the loss.

SHOP, after Citron Research warns with video release on the retailer that is decisively on the bearish side. Andrew Left says the FTC is going to take notice of the actions of Shopify.

 Background: Shopify is a rapidly expanding cloud-based, multi-channel commerce platform business.
Here is an analytical article calling to short SHOP
https://seekingalpha.com/article/4108901-shopify-overly-expensive-bit-investing-trap

Cruise lines rebound after positive outlook: CCL RCL, NCLH. CCL is in my watch list.

Other winners:

 MNKD, nanocap, doubled in a week. https://seekingalpha.com/article/4111450-mannkind-bullish-fda-label-changes

FCEL +18% --- Oppenheimer initiates coverage with an Outperform rating and a $4 price target
CPST + 20% --- Oppenheimer upgrades shares to Outperform from Perform with a $2 price target

Other news: Foxconn announces the location for its Wisconsin-based display screen factory. Wisconsin lawmakers approved a $3B incentive package for Foxconn. I believe WISCONSIN is loser in this deal.

My Trades Today

Not much today. Only one trade --- selling more UAL @ $65.6. Weight of UAL in my portfolio has dropped from 10% to 3%. I expect their earning will not be impressive in the last quarter. However, I will buy more if UAL drops to $60 again.

Comments

  1. UnknownOctober 4, 2017 at 1:32 PM

    News: SeaWorld (SEAS, +7% AH) jumps about a buyout deal for at least part of the company.

    ReplyDelete

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