Written by StockNews.com United Rentals, Inc. (NYSE: URI) late Wednesday posted better than expected first-quarter earnings results and lifted its full-year outlook, as rental volumes rose but rental rates fell....
It says a lot when consistently softer economic data can’t bring down a currency. The U.S. dollar refuses to fall despite clear evidence of a slowdown in the recovery. We’ve seen consumer spending drop for the second month in a row, consumer price growth decline for the first time in more than a year, job growth slow to 98K in the month of March and manufacturing activity in the NY region almost grind to a halt in April. This deterioration drove the odds of a June rate hike down to 47% and the chance of tightening in September down to 67.5%. To put this into perspective, at the beginning of the month, the market saw an 80% chance of a rat...
With the Philadelphia Fed Manufacturing Index coming out during the session, as well as the Initial Jobless Claims, it’s likely that we will see a lot of focus on the United States today. With this, we are paying attention to several different markets, with a particular interest in America. USD/CAD The US dollar rallied again during the day on Wednesday, testing the 1.3450 level. If we can break above there, it makes sense that call buyers might be attracted to this market as it would show a gain in momentum to the upside. USD/CHF The US dollar bounced slightly against the Swiss franc during the day on Wednesday, using the 0.9950 level as s...
Most of the talk yesterday concerned Europe and specifically the UK’s snap election decision by the PM, Theresa May. In Asia, we saw the reaction to the news which resulted in most core indices closing lower on the day; with the only positive from core being the Nikkei, but even then only just! The Yen continues to be the a safe haven flight for many and especially after yesterdays re-pricing of the US curve which now implies just one FED rate hike. After the decline in rates, accompanied by the weaker USD, the strip currently prices just one hike expected for September in 2017. The market also has re-priced built in optimism surrounding Pr...
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. For May 2017, we see some candidates to become breakout stocks. Coincidentally, our selection is focused on Canada, specifically the Toronto Ventures stock exchange so these are small cap stocks. The first small cap breakout stock for May 2017 is Atlantic Gold Corp, symbol AGB.V. This is a junior gold miner with a market cap of $226M. The company is not profitable (yet?), its EPS is -0.03. Recently, the company came with decent drilling results. The chart shows a breakout setup, though not exa...
Qualcomm (QCOM) and eBay (EBAY) released their latest earnings reports after closing bell tonight. Qualcomm posted adjusted earnings of $1.34 per share on $6 billion in adjusted revenue. Wall Street had been expecting earnings of $1.19 per share on $5.89 billion in revenue. In the same quarter a year ago, the chipmaker reported $5.5 billion in adjusted revenue and $1.04 per share in non-GAAP earnings eBay posted non-GAAP earnings of 49 cents per share on $2.2 billion in revenue, compared to the consensus estimates of 48 cents per share and $2.2 billion. In last year’s first quarter, the online marketplace firm posted $2.1 billion in sales a...
Six months ago back in October, IBM reported what seemed to be encouraging results. Though revenues at the company were down for the eighteenth consecutive quarter, they were so by the slimmest of margins, just -0.3%. For Big Blue, that had been the best revenue comparison since the first quarter of 2012 back when global recovery was the most plausible. The positive momentum was attributed to the company’s shift toward the new growth model, cloud, SAAS, and other next step technologies in lieu of IBM’s traditional hardware products. Fortune reported at the time: Some analysts expressed optimism that the company’s 44% gain in cloud rev...
Fed Vice Chair Stanley Fischer sought to reassure markets just after the close. “On Wednesday, he [Stanley Fischer] said that spillovers from [rate] tightening ‘will be manageable.’ It’s possible that U.S. and foreign economic growth can align, Fischer said. He added that downside risks from overseas are noticeably smaller and that foreign growth appears more entrenched. Fischer said that China’s economy also seems to be on more solid footing.” Stanley, you are not all that reassuring. This seems to be just another self-serving exercise from the Fed which wishes to get off the zero bound so that...
The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated “the pace of expansion equally split between modest and moderate“. The previous report stated “the economy expanded at a modest to moderate pace from early January through mid-February“. Analyst Opinion of this month’s Beige Book Seems like the rate of growth is unchanged. Still the Fed is not saying the economy is strong. Please see the end of this post for words the Federal Reserve uses when the economy is entering a recession. The Beige Book completely missed the 2001 recession, and was late in seeing the Great Recession...