Market 2017-12-20 (AAPL, Energy, and more)
First of all, Tax Reform Bill has been passed in Congress, which is ready for Trump to sign into law.
The market opened high, then quickly retreated into the red zone, although Tech managed to recover the early loss (Nasdaq was -0.4% at some point). It seemed like a "sell on the news" in the early morning, which was killed by Santa.
10-year Treasury yield goes up to 2.5%. It was only 2% in Sept. If it keeps climbing, inflation will surface soon.
Apple (-0.1%) officially admited that old iphones (from iphone 6 to 7plus) run slower as they rolled out new models. The problem was first reported on Reddit. Apple blames the slowdown to the battery. They updated the iOS so that old iphone would automatically lower clock if battery wore down. Two ways to fix it: get a new phone, or replace the battery. It is evil!
MU +4% after reporting strong earnings and guidance. Same case is FDX +3.5%.
GIS +2% after reporting Q2 EPS of $0.82 in-line. Revenue of $4.2B (+2.2% Y/Y) beats by $110M.
Energy Sector is the strongest today: CHK +4.7%, CXO +4.6%, PXD +4.4%, FTI +4.1%, HAL +3.4%, COP +3%, DVN +3%. API reported US crude supply -5.2M barrels last week. USO +0.9%.
UAL +2.3%. The Atlanta Power Outage seems to have little impact on airlines.
In AH, BBBY (+2.5%) reported Q3 EPS of $0.44 beats by $0.07. Revenue of $2.96B (flat Y/Y) beats by $60M. Shares was up 7% initially. It is in red now.
RHT -5.2% despite Q3 beats upside guidance.
CMG -4.6% ---- another food safe issue.
SQ -3.4%. It has been volatile recently.
DIS -1.9% at light volume.
Added more SQ.
The market opened high, then quickly retreated into the red zone, although Tech managed to recover the early loss (Nasdaq was -0.4% at some point). It seemed like a "sell on the news" in the early morning, which was killed by Santa.
10-year Treasury yield goes up to 2.5%. It was only 2% in Sept. If it keeps climbing, inflation will surface soon.
Apple (-0.1%) officially admited that old iphones (from iphone 6 to 7plus) run slower as they rolled out new models. The problem was first reported on Reddit. Apple blames the slowdown to the battery. They updated the iOS so that old iphone would automatically lower clock if battery wore down. Two ways to fix it: get a new phone, or replace the battery. It is evil!
Winners
Blackberry (BB +12%) reported Q3 EPS of $0.03 beats by $0.03. Revenue of $235M (-21.9% Y/Y) beats by $19.58M.MU +4% after reporting strong earnings and guidance. Same case is FDX +3.5%.
GIS +2% after reporting Q2 EPS of $0.82 in-line. Revenue of $4.2B (+2.2% Y/Y) beats by $110M.
Energy Sector is the strongest today: CHK +4.7%, CXO +4.6%, PXD +4.4%, FTI +4.1%, HAL +3.4%, COP +3%, DVN +3%. API reported US crude supply -5.2M barrels last week. USO +0.9%.
UAL +2.3%. The Atlanta Power Outage seems to have little impact on airlines.
In AH, BBBY (+2.5%) reported Q3 EPS of $0.44 beats by $0.07. Revenue of $2.96B (flat Y/Y) beats by $60M. Shares was up 7% initially. It is in red now.
Losers
RHT -5.2% despite Q3 beats upside guidance.CMG -4.6% ---- another food safe issue.
SQ -3.4%. It has been volatile recently.
DIS -1.9% at light volume.
My Trades Today
Double down on QD.Added more SQ.
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