Market 2018-05-17 (WMT, NTES, JCP, and more)

As the negotiation kicks off, Trump says I 'doubt' China trade negotiations will succeed. Market is not happy, although indices recover from session lows.

Treasury down again: 30-year -0.4%. 10-yr -0.03%. TLT -0.5%.

Crude +0.14% to $71.59. Gold -0.09% to $1,290.30. UUP +0.12%.

Mortgage rates surge to seven-year high in Freddie Mac survey. The 30-year fixed averaged 4.61% for the week, reaching its highest level since May, 2011, while the 15-year fixed averaged 4.08%. A year ago at this time, the 30-year and the 15-year fixed rates averaged a respective 4.02% and 3.27%. This is good news for banks, bad news for home builders.

Winners

Baozun +18.8% on Q1 beats, 16% Y/Y revenue growth.

 YY +3.5% received new Buy rating from Hua Tai with $126.5 PT. MOMO +2.7%. However, HUYA -11.1%.

 VLO +4.7% on Morgan Stanley upgrade ($140 PT). MPC +5.2%, PSX +3.6%...

Losers

WMT -1.9% despite ER beats and 33% growth in E-commerce.

 NTES -7.5% on mixed ER. Jefferies has slashed its price target to $276 from $310. Benchmark reduced PT to $340 from $355, as maintaining a Buy rating. And Barclays reiterated its Hold stance with $280 PT.

WFC -1.5% facing new scandal: employees changed documents of business clients from late 2017 to early 2018.

 JCP -12.4% after reporting mixed earnings and low guidance. M gained another 2% today.

MCD -1%. McDonald's worker in West Virginia confirmed with Hepatitis A. West Virginia is one of the six states identified by the CDC as having a Hepatitis A outbreak.

MU -3.2% gave back some of recent gains.

SQ -3.1% down PayPal Holdings (PYPL +1.8%) is in advanced talks to acquire iZettle, according to Sky News.

Earnings in AH

Applied Materials (AMAT): Q2 EPS of $1.22 beats by $0.08.
Revenue of $4.57B (+28.7% Y/Y) beats by $120M.
Shares -2% on mixed guidance.

Nordstrom (JWN): Q1 EPS of $0.51 beats by $0.07.
Revenue of $3.47B (+5.8% Y/Y) beats by $10M.
Shares -6.7% amid light guidance.

My Trades Today

Sold M @ $34.6

Sold Rubi @ $2.5

Sold CHK @ $4.25

Comments

  1. UnknownMay 17, 2018 at 2:05 PM

    请教一下前辈，YY这个价位这个态势还要不要加仓。

    ReplyDelete
    Replies
    1. UnknownMay 17, 2018 at 3:14 PM

      我比较保守，如果回落到100以下我会加仓，目前维持仓位观望。

      Delete
  2. AnonymousMay 17, 2018 at 4:13 PM

    谢谢马大的分析！请教一下，SQ , MU 该继续持有吗? By the way, 您什么时候进的CHK？这股最近涨疯了。

    ReplyDelete
    Replies
    1. UnknownMay 17, 2018 at 7:09 PM

      SQ目前还是花街宠儿之一，MU的上升周期也还没结束。我的CHK仓位很小，前阵子均价2.8进的，赚了几顿饭钱而已

      Delete
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