Naughty Kitty; Caterpillar
Industrial machinery giant Caterpillar (CAT) reported a drop in its second-quarter profit, which coupled with the company’s outlook weighted on the stock yesterday. The stock’s quarterly profit declined to $960 million versus a profit of $1.70 billion in the year-ago period. Revenue dropped to $14.62 billion from $17.34 billion, which came short of analyst estimates […]
Market Outlook Thursday July 25th
After too many exceedingly boring trading days over the past two weeks, yesterday’s price action in US stocks was a breath of fresh air. While the downside was limited to 0.38%% on the S&P 500, it was interesting to see small caps, i.e. the Russell 2000 leading the selling and the technology-heavy Nasdaq Composite actually […]
Continued Underperformance By Tech
It was another lackluster trading day for US equity indices yesterday as the S&P 500 traded in a range of roughly eight points, which compares rather boring to the intra-day swings of more than twenty points that we witnessed just one month ago. To put a picture around this, I created the below chart. The […]
Global Payments Inc (GPN) Steadily Working Higher
Global Payments Inc (GPN), provider of electronic transaction processing, information systems, and services, from a long-term perspective trades in well-defined and fairly lengthy swings. From a swing trader’s point of view, this thus makes for an attractive stock to follow. The stock’s sharp, close to 100% rally off the early 2009 lows re-tested a previous […]
Market Outlook Tuesday July 23
While for the most part yesterday’s trading in US equities may be labeled as a boring summer Monday trade, a few more eyebrow raising observations could still be made. As the S&P 500 did its best to hug the flat line, I first noticed how extended the banks are past their 200 day simple moving […]
General Electric; Still Positioned For Higher Levels
Industrial conglomerate General Electric Company (GE) after an already respectable run off the 2009 lows last Friday, post its latest earnings announcement broke past a multi-month resistance area to a new year to date high. If we consider the below multi-year stock of the chart, two things stand out. First, while not quite there yet, […]
Coach, Inc Readying A Major Breakout
Clothing accessories maker Coach, Inc. (COH) designs, produces, and markets luxury leather goods. Much like most assets classes and stocks, it rallied hard off the 2009 lows. Unlike the broader US stock market however, the stock rallied into a medium-term blow-off top in March 2012. From there, after a too-steep-to-be-sustainable slope, the stock slipped a […]
Market Outlook: Climbing Into Thin Air
Before I get started with today’s musings on the the markets, allow me go again thank Sam Collins for giving me the opportunity me to pitch in for the next two weeks. I look forward to bringing my honest takes on the tape to his valued readers over this period of time and in this […]
Choppy Trading For Ebay Continues
eBay Inc. (ebay), the online goods trading community, reported its second quarter results yesterday July 18th but thanks to disappointing guidance the stock fell 6.73% on the day. The day’s sell-off brought the stock right back into the middle of its year to date trading range, which however from a multi-year perspective doesn’t throw […]
Game Over For Toy Stocks?
Toy makers Hasbro, Inc. (HAS) and Mattel, Inc (MAT) saw stellar gains in the year to date rally, the going however has gotten significantly choppier since the May 22nd highs in the S&P 500 and again yesterday, July 17th when Mattel, Inc (MAT) reported its latest earnings. Second-quarter net income for the company slipped 24 […]