Börsipäev 11. november
Kommentaari jätmiseks loo konto või logi sisse
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Kuigi S&P 500 (+0,2%) ja Dow Jones Industrial Average (+1,2%) jätkasid eile positiivsel lainel ning on purustanud või jõudnud taas ajalooliste rekordite juurde, siis sektorite lõikes erinevad meeleolud Trumpi võidu järel üsna dramaatiliselt.
Finants ja tervishoid püsisid esirinnas (vastavalt +3,7% ja +2,0%), samal ajal said tugevamalt pihta intressimäära suhtes tundlikumad kinnisvarasektori ja kommunaalteenuste ettevõtted. Samuti vaevab tehnoloogiasektorit (Nasdaq -0,8%) küsimus, kuidas võiks uue presidendi immigratsiooni ja töökohtade poliitika mõjutada innovatsiooni ja kulusid. Sarnast sektorite rotatsiooni oli näha ka Euroopas, kus Stoxx andis ära päeva esimese poole plussi ning pidi leppima -0,3% kaotusega.
Nii St. Luis FEDi president James Bullard kui ka Richmond FEDi president Jeffrey Lacker olid eile ühel meelel, et intressimäära tõstmine detsembris näib hetkel olevat üsna tõenäoline stsenaarium. Bullard jäi aga siiski kindlaks oma varasemale seisukohale, et pärast seda ühte tõstmist jääb intressimäära tase madalaks veel kaheks-kolmeks aastaks, kuna majandus on aheldatud madala produktiivsusega kasvukeskkonda. Lacker leidis fiskaalpoliitikat kommenteerides, et valitsuse suuremad kulutused võivad tingida intressimäärade kiirema tõusu tulevikus.
FEDi esindajatest on täna üles astumas asepresident Stanley Fischer, kelle sõna on Föderaalreservis üks kaalukamaid, kuid tõenäoliselt ei muuda temagi valimistejärgselt oma retoorikat, et USA keskpank on lähedal eesmärkide saavutamisele, seistes potentsiaalselt silmitsi isegi tööturu ülekuumenemise ja inflatsiooni kiirenemisega. Majandusuudistest selgub USA tarbijate novembrikuu esimese kindlustunde küsitluse tulemus.
15.30 FEDi Fischer esineb
17.00 USA Michigani ülikooli tarbijate kindlustunde indeks (november)
20.00 USA Baker Hughes aktiivsete nafta puurtornide arv (11. november) -
ka fondide statistikast peegeldub sama pilt, mida oleme viimastel päevadel turgudel näinud
* U.S. election triggers “violent rotation” out of deflation into inflation plays: from EM to U.S. small cap, from REITS to U.S. banks, to industrial commodities, from U.S. “uber-growth” to global banks, BofAML strategists including Michael Hartnett write in note.
* U.S. stocks see net inflows of $5b in week to Nov. 9, largest in 17 weeks, while European stocks see outflows of $1.3b, outflows in 39 of past 40 weeks
* Japan equities see big $4.8b inflows (largest in 14 months)
* EM equities see big $4.8b inflows (largest in 14 months)
* Globally by sector: 7 straight weeks of inflows into financials; 5 straight weeks of inflows into energy; largest healthcare inflows since October 2015
* In fixed income: HY bond funds see $0.8b outflows IG bond funds see outflows of $0.3b, first outflows in 16 weeks, EM debt funds see outflows of $73m, first outflows from EM debt funds in 19 weeks; TIPS see inflows of $0.8b, 22 straight weeks of inflows -
FISCHER: CASE FOR GRADUALLY REMOVING ACCOMMODATION QUITE STRONG
FISCHER SAYS FED REASONABLY CLOSE TO ACHIEVING ITS TWO GOALS
FISCHER SEES FED RATES RISING MORE SLOWLY, BY LESS THAN IN PAST
FISCHER: NOTICEABLY FASTER U.S. GROWTH WOULD MEAN QUICKER HIKES -
Gapping up
In reaction to strong earnings/guidance:
NVDA +14.7%, (also adds $2 bln to buyback and raises dividend 22% to $0.14/share), CATB +10.7%, RUN +5.5%, CWH +5.5%, LXFT +4.4%
JWN +3.9%, HTBX +3.7%, ELF +3.2%, EROS +2.5%, DIS +2.1%, EMAN +2.1%, BAM +2.1%, MSCC +1.5%, TWNK +1.5%, TTD +1.2%, PTX +1.2%
M&A news:
MACK +3.7% (M&A blog Betaville reports that Shire (SHPG) may be one of the parties interested in a potential acquisition of Merrimack)
Select materials stocks trading higher:
CLF +4.1%, SLW +2.5%, GG +2.1%, HL +1.6%, ABX +1.5%, BTG +1.2%, MTL +1.1%
Other news:
PTCT +80% (EMA's CHMP recommends that the conditional marketing authorisation for Translarna be renewed)
GNCA +6.5% (will present findings supporting its ATLAS system in identifying 'clinically meaningful' personalized neoantigens that could guide development of neoantigen vaccines)
AMD +4.5% (in sympathy with NVDA)
IMGN +3.3% (will present new preclinical data that demonstrate the potential for enhanced activity when combining mirvetuximab soravtansine with immune checkpoint inhibition at SITC Meeting)
ADXS +1.8% (announces new data highlighting the potential therapeutic benefit of Advaxis' lead immunotherapy candidate axalimogene filolisbac AXAL at upcoming Society for Immunotherapy of Cancer)
Gapping down
In reaction to disappointing earnings/guidance:
PLAB -23.7%, VJET -13.4%, DDS -9.2%, JCP -7.9%, KORS -6.6%, HEAR -6.3%, CRBP -5.8%, ACIA -5.8%, UNXL -4.5%, AMDA -4.1%
APHB -3.6%, SBS -3.6%, SANW -2.1%, TCMD -1.5%, PBR -1.5%, SUPN -1.4%, ( files to delay Form 10-Q, updates guidance ), TRTN -1.2%
RELV -1%, VRML -0.9%
Select oil/gas related names showing early weakness:
RDS.A -2.9%, RIG -1.5%, SDRL -1.4%, TOT -1.1%
Other news:
AFSI -9.4% ( files to delay Form 10-Q)
PRAH -4.8% (commences 7.5 mln common stock offering by selling stockholders Kohlberg Kravis Roberts)
NWN -3.6% (prices offering of 880,000 shares of common stock, at $54.63 per share)
KTWO -3.4% (commences 4.5 mln common stock offering by selling stockholders, affiliates of Welsh, Carson, Anderson & Stowe )
COMM -2.8% (announces the sale of 19,716,970 shares of its common stock on an underwritten basis by an affiliate of The Carlyle Group )
COMM -2.8% (announces the sale of 19,716,970 shares of its common stock on an underwritten basis by an affiliate of The Carlyle Group)
HAIN -0.8% ( files to delay Form 10-Q)
Analyst comments:
SPWR -4.4% (downgraded to Neutral from Buy at UBS )
HMY -1.4% (downgraded to Sell from Neutral at Citigroup)
CEMP -0.8% (downgraded to Hold from Buy at Needham)
Briefing.com -
UPGRADES:
* Aetna (AET) raised to outperform at Credit Suisse
* AGT Food & Ingredients (AGT CN) raised to strong buy at Raymond James
* Canadian Energy Services (CEU CN) raised to strong buy at Raymond James
* Danaher (DHR) raised to outperform at Cowen
* Deckers Outdoor (DECK) raised to buy at Stifel
* Disney (DIS) raised to equal-weight at Barclays
* Humana (HUM) raised to outperform at Credit Suisse
* Northland Power (NPI CN) raised to buy at TD
* Nvidia (NVDA) raised to equal-weight at Barclays
* Perrigo (PRGO) raised to neutral at BofAML
* Radware (RDWR) raised to outperform at Oppenheimer
* Sienna Senior Living (SIA CN) raised to outperform at Raymond James
* Tiffan (TIF) raised to outperform at Cowen
* Vornado (VNO) raised to buy at BofAML
* Wellcare (WCG) raised to neutral at Credit Suisse
DOWNGRADES:
* ADM (ADM) cut to underweight at JPMorgan
* Brookdale (BKD) cut to hold at Jefferies
* Cara Operations (CARA CN) cut to market perform at BMO
* Centene (CNC) cut to neutral at Credit Suisse
* Commercial Metals (CMC) cut to neutral at DA Davidson
* Community Health (CYH) cut to underperform at Credit Suisse
* Curtiss-wright (CW) cut to neutral at BofAML
* Harmony gold Mining (HMY) cut to sell at Citi
* Lifepoint (LPNT) cut to neutral at Credit Suisse
* PHX Energy Services (PHX CN) cut to market perform at BMO
* Photronics (PLAB) cut to hold at Stifel
* Photronics (PLAB) cut to hold at Needham
* Spark Networks (LOV) cut to neutral at B Riley
* Sunpower (SPWR) cut to neutral at UBS
* Texas Capital (TCBI) cut to hold at Deutsche Bank
* Tubemogul (TUBE) cut to neutral at Citi
* Voxeljet (VJET) cut to sell at Citi
* World Point Terminals (WPT) cut to hold at Stifel
* Yellow Pages (Y CN) cut to sector perform at RBC
INITIATIONS:
* Acadia Pharma (ACAD) rated new neutral at Goldman, PT $28
* Alder Bio (ALDR) rated new outperform at BMO, PT $42
* Bluebird Bio (BLUE) rated new market perform at BMO, PT $61
* Lamb Weston Holdings (LW) new buy at Stifel, PT $34
* Lamb Weston Holdings (LW) new overweight at Barclays, PT $35 -
Trump on täna 60 minutis ning kinnitab endiselt plaani ehitada USA-Mehhiko piirile müür ning saata riigist kohe välja 2-3M illegaalset immigranti.
President-elect Trump says how many immigrants he’ll deport
