It’s not just that Fitbit (FIT) reported a miss on the top-line, but more so that the company lowered expectations for the full-year and expectations regarding growth going forward. The average analyst estimate for revenue growth in 2016 was roughly 40%, before Fitbit’s revised guidance.Now, analysts expect the company to report revenue growth of roughly 26 percent for 2016.For 2017, analysts formerly modeled revenues growing roughly 16%, as of today and with Fitbit’s lowered expectations going forward, analysts model the company growing revenues roughly 3 percent.It remains to be seen if even that lowered 2017 top-line number can be ac...
It’s interesting how quickly the consensus around what a Trump presidency means for markets went from “it’d be an unequivocal disaster” to “his policies will bring forth a new and lasting economic expansion.” Moral of the story: consensus has a habit of being wrong and reality tends to be bit more nuanced. What should we make of all the hoopla then? Let’s first note that: Presidents and political parties don’t drive business cycles, they simply enhance or dampen them. There are still many unknowns regarding exactly what a Trump presidency will look like. Trump will be moving his oversized self-portraits into the West Wing at a...
Buffy may have her way on slaying vampires but she has nothing on Fed Chair Janet Yellen when it comes to killing commodities. Ms. Yellen’s testimony to Congress basically assured us that the Federal Open Market committee will raise rates in December as the economy is making significant progress. The talk sent the dollar, that was already on a tear in the aftermath of Donald Trump’s victory to heights not seen for over a decade, crushing gold and reversing a Saudi/ Russian inspired rally on the oil market. The impact was shattering, dragging down industrial commodities like copper, iron ore, coal and steel that had, in some cases, sored...
Several companies were present at the annual meeting of the American College of Rheumatology (ACR) presenting data on approved as well as pipeline candidates. Meanwhile, Bristol-Myers (BMY – Free Report) announced an immune-oncology deal and also provided updates on some of its cancer treatments. Recap of the Week’s Most Important Stories Data Presented at ACR: Quite a few companies presented data at the annual meeting of the American College of Rheumatology (ACR). Sanofi (SNY – Free Report) and partner Regeneron presented results on sarilumab from their late-stage SARIL-RA-MONARCH study, which demonstrated sarilumab’s su...
The election of Ronald Reagan in 1980 provides the best recent precedent for the unexpected triumph of Donald Trump (in my opinion, the other post-war Republican takeovers of the White House –Ike in ’52, Nixon ’68, and W. in ’00 – did not constitute a real break from the status quo.) As many people expect great changes from Trump, it is worthwhile to look at what the Reagan Revolution actually wrought. Both Reagan and Trump were better known to many as entertainers rather than politicians, both came from outside the Republican mainstream, and both engineered hostile takeovers of the Party. During the 1970s, the Republican Pa...
Shares of Ross Stores Inc. (ROST – Free Report) rose 3.4% in the after-hours trading session on Nov 17, after the company reported robust third-quarter fiscal 2016 results. Both the top and bottom-line beat our estimates as well as the company’s projections. Moreover, earnings and sales improved year over year. The strong results stemmed from impressive dd’s DISCOUNT performance as well as growth in the ladies’ apparel business as customers favorably responded to its improved merchandise. The company’s third-quarter fiscal 2016 earnings of 62 cents per share were substantially ahead of its guidance of 52–55 cents and the Zacks...
After more than a week following the election, the markets, and a large chunk of the nation, remain a mixed bagged of emotions ranging from exuberance and disbelief to anger and depression. While I don’t want to get into the “left versus right” debate in this missive, it has been interesting to watch market participants swing from “Trump The Terrible” to “Trump The Great” in relation to the markets and economy and he isn’t even in office yet. It is same as giving Obama the Nobel Peace Prize when he entered office, an action the Nobel committee has come to regret. But which is it really? While Trump certainly has an e...
With intraday fluctuations of up to 80% – yes, 80% – the Canadian marijuana stocks on our list create significant day-trading opportunities for those so inclined. By SmallCapPower.com Circuit breaks are tripped when a stock climbs or falls at least 10% in a five-minute period and the following 5 stocks did more than that going on a wild ride this past Wednesday, causing more than one trading halt in their stock in a single day! I you’re a trader these stocks could be good for you. 1. Canopy Growth Corp. (TSE:CGC) – $11.40Pharmaceuticals Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a diversified cannab...
Conditions are up but under very high stress. Take a look at today’s chart that show’s Institutional Buying and Selling. Institutional Investors were in net Accumulation with down ticks in Buying and Selling yesterday....
One of the oil world’s longest and best kept secrets may finally be revealed. Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades. The decision to bring such important data to light comes as Saudi Aramco is preparing to partially privatize its assets, an IPO that could bring in some $100 billion. The IPO will be a monumental event, one that the Wall Street Journal says could offer Wall Street some of the largest fees in history. Saudi Arabia often trades off with Russia – and more recently, with the U.S. – as the world’s largest oil producer. But w...