The market closed mostly lower on Tuesday as dismal economic news weighed on sentiment. Specifically, Consumer Confidence tanked another -31.9 points to 86.9 in April following March's -13.8 point plunge to 118.8. Forecasts were for a print of 90.As far as 1Q earnings, five of the six companies with the largest market caps in the S&P - Alphabet (GOOGL), Microsoft (MSFT), Facebook (FB), Apple...
Continue reading >>Halftime of the year 2020 is nearly here, and the bulls are tired after mounting a furious comeback to narrow what was a deep deficit after the first quarter.Fatigue was to be expected after the best 11-week sprint in market history, a gain of 44% in the S&P 500 from March 23 through June 8. And under normal circumstances, stocks giving back one-sixth of a headlong rally, as the index has the...
Continue reading >>The market closed mostly lower on Tuesday as dismal economic news weighed on sentiment. Specifically, Consumer Confidence tanked another -31.9 points to 86.9 in April following March's -13.8 point plunge to 118.8. Forecasts were for a print of 90.As far as 1Q earnings, five of the six companies with the largest market caps in the S&P - Alphabet (GOOGL), Microsoft (MSFT), Facebook (FB), Apple...
Continue reading >>With food-at-home in high demand due to the coronavirus pandemic, Albertsons Cos. has filed paperwork to go public.Albertsons is expected to start trading on the New York Stock Exchange on Friday under the ticker symbol “ACI.” Late Thursday, the company priced its IPO at $16 a share, lower than the $18-to-$20 price range it was seeking. The grocer will sell 50 million shares — also below...
Continue reading >>The market traded lower throughout Wednesday’s action following a resurgence in several states concerning coronavirus cases, including Florida and Texas, and could threaten the economy's recovery. The governors of New York, New Jersey and Connecticut told travelers that are arriving from states with high rates of coronavirus to self-quarantine for 14 days.In addition to the troubling...
Continue reading >>Keep an eye on Carnival (CCL). The stock has been battered by the coronavirus story. However, it’s down too far, too fast, and could soon recover, even though it could see an EPS loss of 55 to 65 cents a share if operations in Asia are suspended through April 2020. “While that has not come to pass and may be averted, the cruise line said there will be a material impact on...
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