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shares of marriott international inc mar slid 214 to 15792 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 214 to 413799 and dow jones industrial average djia falling 191 to 3306361 this was the stocks second consecutive day of losses marriott international inc closed 3798 short of its 52week high 19590 which the company reached on april 21st the stock demonstrated a mixed performance when compared to some of its competitors monday as hilton worldwide holdings inc hlt fell 288 to 13158 vail resorts inc mtn fell 373 to 22937 and hyatt hotels corp h fell 176 to 9005 trading volume 14 m remained 769182 below its 50day average volume of 22 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

masimo corporation shares dipped 273 to 10695 in premarket trading after the company reported weak preliminary revenue results for the second quarter acumen pharmaceuticals inc tumbled 95 to 880 in premarket trading after reporting a proposed public offering of common stock lumentum holdings inc shares fell 75 to 4845 in premarket trading faraday future intelligent electric inc shares fell 39 to 02760 in premarket trading after gaining 13 on monday nikola corporation shares declined 3 to 226 in premarket trading after gaining around 4 on monday synchrony financial shares fell 2 to 3480 in premarket trading following secondquarter results now read this bank of america morgan stanley and 3 stocks to watch heading into tuesday don’t forget to check out our premarket coverage here

shares of eversource energy es inched 014 higher to 7772 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 004 to 416787 and dow jones industrial average djia falling 014 to 3405170 eversource energy closed 1669 below its 52week high 9441 which the company achieved on august 18th

shares of merck co inc mrk inched 095 higher to 7641 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 114 to 456802 and dow jones industrial average djia falling 123 to 3493216 merck co inc closed 1499 below its 52week high 9140 which the company achieved on november 4th the stock demonstrated a mixed performance when compared to some of its competitors monday as johnson johnson jnj fell 029 to 16775 roche holding ag part cert rhhvf rose 260 to 40886 and pfizer inc pfe rose 259 to 6102 trading volume 117 m remained 27 million below its 50day average volume of 145 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of new residential investment corp nrz slid 196 to 1099 tuesday on what proved to be an allaround grim trading session for the stock market with the nasdaq composite index comp falling 283 to 1454668 and dow jones industrial average djia falling 163 to 3429999 new residential investment corp closed 049 short of its 52week high 1148 which the company reached on march 31st the stock underperformed when compared to some of its competitors tuesday as realty income corp o fell 104 to 6500 new york mortgage trust inc nymt fell 069 to 429 and nam tai property inc ntp rose 163 to 2119 trading volume 59 m eclipsed its 50day average volume of 47 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

pure storage incs stock pstg initially jumped 6 in extended trading wednesday after the storage provider reported fiscal secondquarter revenue and raised 2023 revenue guidance to 275 billion topping wall street analysts projections pure storage reported net income of 109 million or 3 cents a share compared with a net loss of 453 million or 16 cents a share in the yearago quarter revenue increased 30 to 6468 million from 4968 million a year ago analysts surveyed by factset had expected on average net income of 22 cents a share on revenue of 636 million shares of pure storage have cratered 47 this year while the broader sp 500 index spx has declined 17

shares of 3m co mmm rallied 104 to 9428 thursday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 099 to 422102 and the dow jones industrial average djia rising 047 to 3306157 3m co closed 5802 short of its 52week high 15230 which the company reached on august 12th the stock demonstrated a mixed performance when compared to some of its competitors thursday as johnson johnson jnj fell 034 to 15454 honeywell international inc hon rose 118 to 19386 and general electric co ge rose 309 to 10467 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of discover financial services dfs inched 052 higher to 10288 monday on what proved to be an allaround mixed trading session for the stock market with the dow jones industrial average djia rising 009 to 3283254 and the sp 500 index spx falling 012 to 414006 the stocks rise snapped a twoday losing streak discover financial services closed 3281 below its 52week high 13569 which the company reached on august 13th the stock demonstrated a mixed performance when compared to some of its competitors monday as capital one financial corp cof rose 140 to 10782 zions bancorp na zion rose 017 to 5409 and tfs financial corp tfsl rose 067 to 1493 trading volume 10 m remained 10 million below its 50day average volume of 21 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

there are few companies with more at stake from russian naturalgas flows into germany than the chemicals sector shares of chemicals companies including basf bas lanxess lxs and covestro 1cov have each tumbled over the past month in part on concern that russia won’t resume gas flows via the nord stream 1 pipeline at the end of the scheduled maintenance period on july 21 in a note to clients analysts at jefferies says even resuming nord stream at the premaintenance 40 level would would lead to plants operating at an 89 utilization rate reducing gas flows to 20 would lead to a 65 utilization rate the worst case scenario that russia completely severs flows would require shutdowns from november through june or alternatively operating plants at a roughly 50 utilization rate the jefferies analysts note that gas use is prioritized first for household heating and power chemicals is in the second tier and other materials and minerals is in the third tier allocation analysts at ubs on thursday downgraded arkema ake basf clariant cln and givaudan givn to sell from neutral and downgraded evonik evk and wacker wch to neutral from buy ubs said given the risks associated with energy rationing and supply cuts as well as swiftly waning consumer confidence it was adopting a recession scenario for earnings next year and anticipating cracks in the order book to show up as early as the third quarter

shares of cdw corp cdw rallied 101 to 16250 tuesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 038 to 373548 and dow jones industrial average djia falling 050 to 3036483 the stocks rise snapped a fourday losing streak cdw corp closed 4621 below its 52week high 20871 which the company achieved on january 4th the stock outperformed some of its competitors tuesday as apple inc aapl rose 067 to 13276 hp inc hpq fell 003 to 3375 and td synnex corp snx fell 108 to 9516 trading volume 760341 remained 135089 below its 50day average volume of 895430 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of canadian national railway co cnr inched 034 higher to c16002 monday in what proved to be an allaround positive trading session for the canadian market with the sptsx composite index gsptse rising 089 to 2027828 canadian national railway co closed c1537 below its 52week high c17539 which the company reached on december 13th trading volume of 964928 shares remained below its 50day average volume of 14 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of emerson electric co emr slipped 236 to 8518 tuesday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 058 to 410060 and dow jones industrial average djia falling 059 to 3340238 the stocks fall snapped a fiveday winning streak emerson electric co closed 1447 short of its 52week high 9965 which the company reached on january 9th the stock underperformed when compared to some of its competitors tuesday as honeywell international inc hon fell 121 to 19094 trading volume 18 m remained 18 million below its 50day average volume of 35 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

eurozone industrial production fell more than expected in december mostly offsetting a rise in november as the manufacturing economy cools amid weakening demand industrial productionwhich comprises output from manufacturing mining and utilitiesdropped 11 in december compared with the previous month after a revised 14 rise in november according to data from the european union statistics agency eurostat released wednesday economists polled by the wall street journal expected industrial production to fall 06 the fall in industrial output was driven by intermediate goodsproducts used in the manufacture of other productswhich fell by 28 on month elsewhere durable consumer goods output declined 14 compared with november nondurable consumer goods by 10 and capital goods by 04 while production of energy grew by 13 a drop in production in the eurozones largest economy germany was partly offset by growth in france italy and spain according to the data the eurozones industrial activity has been sustained by working off backlogs but new orders are in decline as demand weakens amid high inflation and rising interest rates economists have said however the waning of wholesale energy prices has improved the outlook for manufacturers and economists believe the sector will now likely avoid a deep contraction

us stock futures were mildly mixed tuesday as the market paused after bank angst subsided on monday the dow jones industrial average djia rose 195 points or 06 to 32432 the sp 500 spx increased 7 points or 016 to 3978 and the nasdaq composite comp dropped 55 points or 047 to 11769 another day without any negatively dramatic news from the financial sector allowed equity markets to mostly stand their ground nasdaq futures are underperforming as the calmer mood is seen reducing demand for those large technology stocks with sturdy balance sheets such as microsoft msft and apple aapl that have been considered safe havens in recent weeks ‘’a relief ripple is helping stocks make some gains amid hopes that the volatility which has wracked the banking sector has eased off futures point to a slightly higher open in…the united states” said susannah streeter head of money and markets at hargreaves lansdown “with contagion limited for now hopes that the debacle will have less of an impact on global growth have ticked up a little reports that the flow of deposits from smaller lenders to larger banks in the united states has slowed also appear to have helped sentiment” streeter added those reduced concerns about a credit crunch crimping economic activity are helping push up government bond yields the 2year treasury yield tmubmusd10y which is particularly sensitive to monetary policy last week fell below 36 but was back to 4 on tuesday “improving risk sentiment saw investors pare back their expectations of fed rate cuts” said jim reid strategist at deutsche bank an important clue to the likely trajectory of federal reserve policy will come on friday when the pce inflation gauge for february will be published before that tuesday will deliver the advanced us trade balance in goods advanced retail inventories and advanced wholesale inventories reports for february due at 830 am the january sp caseshiller home price index and the fhfa home price index will be released at 9 am followed at 10 am by us consumer confidence for march mark newton head of technical strategy at fundstrat observed that the market had proved resilient “at a time when most investors are expecting stock indices to fall” and that traders should note the sp 500 spx will soon be entering the usually bullish month of april “spx djia and nasdaq remain largely rangebound nearterm as part of their uptrend from 313 this sideways “grind” in prices isn’t necessarily bearish however a move back above qqq314 and spx 4040 will be necessary to help jumpstart the next leg of the rally” newton added qqq is the ticker for the invesco etf representing the nasdaq 100

in the current polarized climate more companies could experience the type of antilgbtq backlash that recently hit target corp warns daniel diermeier chancellor of vanderbilt university the political scientist and management academic is the author of “reputation analytics public opinion for companies” he warned that other companies particularly in the retail sector could find themselves in a similar position to target which has faced an intense antilgbtq backlash over its pride collection “target is a really important case” he told marketwatch noting that the retail giant had been selling pride products for years “they probably were caught by surprise by the recent backlash” “we’re looking at a much more polarized environment that’s obvious and the type of polarization is much more focused on cultural identity and value issues” he told marketwatch “there’s now a willingness and ability for people on the political right to really attack companies in a coordinated fashion” related trans designer in target antilgbtq backlash says he was ‘dealt the worst hand’ the vanderbilt chancellor also noted a significant political shift in activism coordinated campaigns have traditionally been seen at the other end of the political spectrum according to diermeier citing the example of toymaker mattel inc mat which bowed to pressure from environmental group greenpeace over its packaging whereas the socalled “cancel culture” of recent years was often decried by the right conservatives have been making concerted efforts to pressure corporations recently target was not the only corporate heavyweight to become embroiled in the culture wars anheuserbusch inbev’s bud bud light and walt disney co dis also have come under fire in recent months this week cracker barrel old country store inc cbrl also faced criticism for a diversity equity and inclusion campaign also read ‘cracker barrel has fallen’ southern restaurant chain is latest to get criticized for inclusion campaign for diermeier the ongoing political feud between republican florida gov ron desantis and walt disney co that started last year over what critics describe as the state’s “don’t say gay” legislation was a “watershed event” but retailers are most vulnerable to pressure according to diermeier “they are well known they have razorthin margins” he said “disney is not so easy to target because there are few consumer substitutes for disney world” so what can companies do to navigate such a polarized environment “you have to go back to what are your core values what do you stand for” diermeier said “and then make a decision based on this if diversity and inclusion are core values for you then you have to articulate that” “communicating and getting everything right is very important” he added “i think the days where a company would make statements over the weekend in response to pressure those days are over” companies across the globe could also come under pressure similar to target according to the vanderbilt chancellor “the us is battleground no 1 but i could totally see this happening in other countries” he said last week target’s stock snapped its longest losing streak in 23 years 11 days amid the backlash against the retail giant the retailer’s stock fell 22 friday compared with the sp 500 index’s spx gain of 02 target was downgraded to neutral from overweight by jpmorgan last week which cited the impact of “consumer pressures and recent company controversies” related to the retail giant however locationintelligence company gravy analytics says that foot traffic was up at target stores last month

shares of raytheon technologies corp rtx slid 005 to 8476 tuesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 013 to 452268 and dow jones industrial average djia falling 011 to 3536073 this was the stocks second consecutive day of losses raytheon technologies corp closed 522 below its 52week high 8998 which the company reached on june 10th the stock underperformed when compared to some of its competitors tuesday as boeing co ba rose 085 to 21950 transdigm group inc tdg rose 065 to 60747 and heico corp hei rose 084 to 12682 trading volume 40 m remained 412315 below its 50day average volume of 44 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

kimberlyclark stock is lower in premarket trading on wednesday after the consumerproducts giant provided weakerthanexpected guidance that overshadowed a mixed fourthquarter report kimberlyclark ticker kmb said 2023 earnings per share will rise 2 to 6 however analysts polled by factset had projected earnings per share of 648 for 2023 this represents a 15 rise from the company’s 2022 earnings per share of 563 which was 1 cent above expectations the maker of kleenex and huggies said 2023 sales would be flat to up 2 from 2022’s 2018 billion analysts had expected 2023 sales of 2038 billion which is within kimberlyclark’s projection

beyond meat inc’s stock initially dove 10 in extended trading thursday after it announced a decline in quarterly revenue and a widening loss the company bynd reported a fiscal fourthquarter net loss of 804 million or 127 a share compared with a net loss of 251 million or 40 cents a share in the yearago quarter the adjusted net loss was 214 million or 34 cents a share analysts polled by factset had forecast a loss of 70 cents a share on revenue of 101 million “in 2021 we saw strong growth in our internationalchannel net revenues as well as sporadic yet promising signs of a resumption of growth in us foodservice channel net revenues as covid19 variants peaked and declined these gains however were dampened by what we believe to be a temporary disruption in us retail growth for our brand and the broader category” beyond meat chief executive ethan brown said in a statement announcing the results beyond meat’s stock has plunged 25 so far this year while the broader sp 500 index spx has declined 10 impossible foods inc beyond meat’s rival and a longrumored ipo candidate on tuesday announced a deal with dine brands global inc din to put the impossible cheeseburger on the applebee’s neighborhood grill bar menu

shares of dave busters entertainment inc play rose 262 to 4543 tuesday on what proved to be an allaround positive trading session for the stock market with the nasdaq composite index comp rising 076 to 1435364 and the dow jones industrial average djia rising 106 to 3495193 dave busters entertainment inc closed 186 below its 52week high 4729 which the company reached on june 13th the stock outperformed some of its competitors tuesday as mondelez international inc cl a mdlz rose 022 to 7210 and treehouse foods inc ths rose 052 to 5017 trading volume 798578 remained 694955 below its 50day average volume of 15 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of rollins inc rol inched 087 higher to 3459 tuesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 161 to 446221 and the dow jones industrial average djia rising 145 to 3491120 the stocks rise snapped a twoday losing streak rollins inc closed 552 short of its 52week high 4011 which the company achieved on september 3rd the stock demonstrated a mixed performance when compared to some of its competitors tuesday as ecolab inc ecl rose 327 to 18076 cintas corp ctas rose 140 to 41896 and rentokil initial plc adr rtoky fell 243 to 3373 trading volume 11 m remained 541087 below its 50day average volume of 17 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

advfn plc said thursday that it has started a strategic review of its options including a sale of the company the londonlisted provider of financial information said that it doesnt expect any new funding requirements as it is currently cash generative and that any review is solely aimed at creating andor realizing shareholder value advfn said that it is aware of several announcements of significant shareholdings in the company and that it is concerned that control may be being sought by longstanding group of shareholders whose total interests may not be aligned with shareholders as a whole the company said the currently tightly held and illiquid nature of its ordinary shares could hurt its chances of generating a correct market valuation for the business the board wishes to maximize value for all existing shareholders and has now determined to undertake a formal review of the companys strategic options the company said

stephen ellis director at charles schwab schw reported a large insider buy on march 15 according to a new sec filing what happened a form 4 filing from the us securities and exchange commission on wednesday showed that ellis purchased 34387 shares of charles schwab the total transaction amounted to 2003324 charles schwab shares are trading down 396 at 5719 at the time of this writing on thursday morning now trade stocks online commission free with charles schwab a trusted and complete investment firm insider transactions shouldnt be used primarily to make an investing decision however they can be an important factor for an investor to consider in legal terms an insider refers to any shareholder who owns at least 10 of a company this can include executives in the csuite and large hedge funds these insiders are required to let the public know of their transactions via a form 4 filing which must be filed within two business days of the transaction when a company insider makes a new purchase that is an indication that they expect the stock to rise insider sells on the other hand can be made for a variety of reasons and may not necessarily mean that the seller thinks the stock will go down investors prefer focusing on transactions that take place in the open market indicated in table i of the form 4 filing a p in box 3 indicates a purchase while s indicates a sale transaction code c indicates the conversion of an option and transaction code a indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company check out the full list of charles schwabs insider trades this article was generated by benzingas automated content engine and reviewed by an editor

shares of nov inc nov rose 258 to 1826 tuesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 016 to 397127 and dow jones industrial average djia falling 012 to 3239425 this was the stocks second consecutive day of gains nov inc closed 657 short of its 52week high 2483 which the company reached on january 27th

shares of sealed air corp see slipped 021 to 6598 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 000 to 468280 and dow jones industrial average djia falling 004 to 3608745 the stocks fall snapped a twoday winning streak sealed air corp closed 045 below its 52week high 6643 which the company reached on november 12th the stock demonstrated a mixed performance when compared to some of its competitors monday as westrock co wrk rose 027 to 4913 aptargroup inc atr rose 063 to 13232 and berry global group inc bery fell 038 to 6846 trading volume 531509 remained 365312 below its 50day average volume of 896821 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

the old expression is when the tide goes out you get to see who’s swimming naked in financial markets the tide is going out when central banks are raising interest rates and growth is slowing that is to say right now “worldcom enron bear stearns lehman’s accounting irregularities etc have all occurred when the cycle is slowing and the fed is raising rates” says khuram chaudhry a european equity quantitative strategist at jpmorgan in london “the probability of an ‘accident’ is very high right now than at any time over the recent past” chaudhry says jpmorgan’s own quant macro index suggests bond returns are likely to get a bid very soon as it’s edging further into contraction territory inflation expectations are high but inflation has peaked he says if history is a guide to where we are today then bond yields should soon peak and start to move significantly lower the fed’s target rate will peak sooner than the market is currently forecasting and equities will remain volatile even through the first part of the next interestrate easing cycle more than that bond yields peak when the yield curve inverts “during junejuly bond yields fell 100bps from 35 to 25 and a rotation towards bond proxies within equities followed with quality and selected growth stocks outpacing value and high risk stocks we believe if we are right that an inverted yield curve soon leads to a peak in bond yields then the ‘trailer’ we saw over the summer is very likely to support bond prices quality stocks and more defensive sector positioning” he says another historical fact is that when the yield curve inverts the fed rate hiking cycle very soon comes to an end “it is for this reason we believe any potential change in fed policy going forwards is unlikely to be a pivot but simply the end of the rate hiking cycle the fed’s job is done and they have more than likely over tightened” he says this is an atypical fed hiking cycle in that it started after equities have peaked “historically interest rates start their rise before equities peak the market will then continue to fall during a period of rate cuts and will then bottom when macro and profit data start to respond to the additional liquidity and monetary stimulus with so much uncertainty surrounded the direction of further rate hikes and where the bottom is in macro data we prefer to overweight quality rather than value stocks” he said that leads him to continue to favor bonds over equities and within equities prefer quality over value jpmorgan colleague marko kolanovic it should be said has been a steadfast bull on stocks this year the sp 500 spx has dropped 24 this year while the yield on the 10year treasury tmubmusd10y has climbed 225 percentage points

bond yields fell on monday as unrest in china sparked worries about prospects for the global economy investors were moving into government bonds as widespread covid19 unrest in china raised concerns about global economic growth benchmark 10year treasury yields flirted with their lowest levels since mid september with downward pressure also supplied by hopes the us federal reserve – as shown by last week’s minutes of its recent policy meeting – will slow the pace of interest rate rises however likely ameliorating the decline in yields was news that the start of the us festive shopping season had started strongly suggesting there was to date little sign that consumers are reining in spending despite the fed’s attempts to cool the economy markets are pricing in a 72 probability that the fed will raise interest rates by another 50 basis points to a range of 425 to 450 after its meeting on december 14th according to the cme fedwatch tool the central bank is expected to take its fed funds rate target to 5 by june 2023 according to 30day fed funds futures st louis fed president james bullard is scheduled to talk to marketwatch at noon eastern new york fed president john williams is due to make a speech at the same time there is no economic data of note on monday but there will be a wave of information about the health of the us economy later in the week including home prices data and a consumer confidence index on tuesday the adp employment report the revision to third quarter gdp and the fed’s beige book on wednesday manufacturing pmis and the personal consumption measure of inflation on thursday finishing off with the nonfarm payrolls report on friday what are analysts saying “the riskoff mood overnight is driving strong safe haven flows into us treasuries as the 10year benchmark traded to new local lows below 365 with little room left to the pivotal 350 level” said the strategy team at saxo bank in a morning note “the 210 yield slope hit a new cycle extreme of –80 basis points overnight a deepening indication of an oncoming recession the 3month treasury bills vs 10year treasury notes spread went to minus64bps a level usually seen within 12 months preceding the onset of a recession” saxo added

shares of ametek inc ame shed 145 to 13832 thursday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 145 to 382239 and dow jones industrial average djia falling 105 to 3302749 the stocks fall snapped a threeday winning streak ametek inc closed 975 below its 52week high 14807 which the company reached on december 29th the stock demonstrated a mixed performance when compared to some of its competitors thursday as emerson electric co emr fell 176 to 9508 amphenol corp cl a aph fell 094 to 7606 and mettlertoledo international inc mtd fell 039 to 143844 trading volume 700401 remained 412787 below its 50day average volume of 11 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of dexcom inc dxcm advanced 269 to 40603 wednesday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 299 to 430017 and the dow jones industrial average djia rising 281 to 3406106 the stocks rise snapped a threeday losing streak dexcom inc closed 25342 short of its 52week high 65945 which the company achieved on november 18th the stock demonstrated a mixed performance when compared to some of its competitors wednesday as johnson johnson jnj rose 107 to 18020 abbott laboratories abt rose 291 to 11570 and medtronic plc mdt rose 264 to 10583 trading volume 880407 eclipsed its 50day average volume of 761140 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

kingfisher plc kgf shares shed 125 to £238 friday on what proved to be an allaround rough trading session for the stock market with the ftse 100 index ukx falling 049 to 756236 kingfisher plc closed 5854 pence short of its 52week high £296 which the company achieved on march 31 trading volume 39 m remained 54 million below its 50day average volume of 92 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of live nation entertainment inc lyv rallied 417 to 10785 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 132 to 465527 and the dow jones industrial average djia rising 068 to 3513594 the stocks rise snapped a twoday losing streak live nation entertainment inc closed 1990 below its 52week high 12775 which the company achieved on november 5th the stock outperformed some of its competitors monday as ebay inc ebay fell 265 to 7055 and world wrestling entertainment inc cl a wwe fell 111 to 5080 trading volume 28 m eclipsed its 50day average volume of 22 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

susan dziubinski hi i am susan dziubinski with morningstar every monday morning i sit down with morningstar’s chief us market strategist dave sekera to discuss one thing that’s on his radar this week one new piece of morningstar research and a few stock picks or pans for the week ahead on your radar this week dave is the debt ceiling is this something you’re really worried about david sekera good morning susan to be honest it’s not really something i’m all that worried about i think there’s going to be a lot of sound and fury but at the end of the day it really signifies nothing maybe i’m just getting cynical here at my old age but i fully expect both political parties are going to use this as a way to try and score some political points with their base the media’s going to end up hyping everything up and print a lot of diresounding headlines and negotiations i fully expect are going to go right up to the wire but at the end of the day i fully expect that the two political parties will come up with some sort of agreement or plan and that they will continue to pay interest on the principal on the us treasuries as they come due dziubinski theoretically dave what are the ramifications for the markets of the us defaulting on its debt obligations sekera this is one of those events that i consider to be pretty low probability but still a very high severity if it were to occur if there were an actual payment default based just on the size and the scale of the amount of us treasuries that are outstanding i do think that this could be something that really could hit the markets pretty hard but i don’t think this is going to be anything like a typical sovereign default that you might see for investors that do own us treasuries i don’t think you’re going to end up suffering any loss of principal and i fully expect that once the debt ceiling gets raised you will get your principal and interest in fact i could even see the us government paying you any extra interest until you get that principal payment back there’s really no way to know exactly what would happen and i don’t think anyone really can understand the full ramifications of it but personally my biggest concern is going to be in the funding markets and specifically those that use us treasuries as collateral a lot of these funding agreements are going to have language in there that you can’t use defaulted securities as collateral that could then result in a large unwind to these facilities or these facilities could collapse such that either those borrowers become forced sellers or the people that lend under these facilities could essentially take the securities that are in there and sell those out in order to make sure that they can get down to the required collateral levels either way there would be a lot of forced sellers in the marketplace and of course that much extra supply in a very short time period could end up pushing markets down dziubinski then do you expect that ongoing uncertainty around the debt ceiling is going to contribute to market volatility this week sekera it’s actually a really hard question to answer and i think most institutional investors expect that a deal is going to end up getting done however as we do get closer to the date that the treasury actually does run out of money i do think that you’d see a lot of shortterm investors and traders that probably just don’t want to take that risk exit their positions and that could pressure markets here in the short term we could also see some investors maybe buying outofthemoney shortdated puts just in case there were a default but as longterm investors i think you just need to be prepared to hold steady stick with your investment allocations and if there is a pretty substantial market drawdown in fact i think that’d actually probably be a pretty good opportunity to then put more money to work dziubinski then also on your radar this week dave we have nvidia’s nvda earnings report now the stock is up more than 100 this year so what are you looking for sekera with nvidia i think we need to take a step back and take a little bit closer look at the fundamentals here nvidia at this point is now rated a 1star stock and it trades at a large premium about 58 to our fair value now this stock does have a history being particularly volatile for example near the end of 2021 it was also a 1starrated stock back then it fell i think 50 or so in 2022 and actually fell enough that it went into the 4star territory at the beginning of this year now it’s doubled as you mentioned it’s back to that 1star area my concern here is just if the company were to miss on their earnings or maybe give any kind of disappointing guidance as far as their artificial intelligence which is a big reason why i think we’ve seen the stock rally thus far this year any disappointment there really could lead to a very swift selloff in the short term dziubinski let’s pivot over to some new research from morningstar and this is related to commercial real estate now morningstar recently increased its uncertainty ratings on office reits what does that mean for commercial real estate in general sekera first let’s just take a step back and just you have to remember that much of real estate is going to be under different varying lengths of leases and so you have the very shortterm leases like in apartments where they’re only going to be one year and we really haven’t seen much of a change in performance like in the apartment space retail leases often range three to five years we’ve seen some softness there but that really hasn’t been that concerning thus far as you mentioned it’s really the office leases where we have the greatest concern regarding their longterm valuations at this point even within the office lease space i’d say the greatest area of concern is going to be in the urban area of course office occupancy rates have been under a lot of pressure since the emergence of the pandemic right now i think we’re still in the relatively early stages of seeing a lot of those office leases starting to come due as they come due we’re seeing rental rates drop just because there is more supply out there than the amount of demand for urban office space in fact one of the things i watch is the kastle back to work barometer kastle is a company that does key cards for a lot of office buildings and so they put together an index and that index right now is showing that across 10 of the largest us cities occupancy still is only around 50 we’re not seeing that same kind of demand destruction in the other areas of commercial real estate as we are for the offices dziubinski then how does that affect morningstar’s view on regional banks today sekera let’s quickly walk through the math for offices and the regional banks first of all when we look at the regional banks i think we estimate that commercial real estate is only up to a third of their total loan book and in many cases is actually much less than that and then the loans that are made specifically for offices are only 10 to 20 of that commercial real estate exposure that’s only 3 to 5 of their total loan book is going to be in offices and then of course the bank only loans a percentage of the value of the offices in the real estate to the lender therefore the equity is going to end up having to take hits before we can see any losses in the banks themselves now most regional banks operate with common equity tier 1 ratios of 9 to 10 that regulatory minimum is 7 even if the regional banks were to start taking some losses on that office space we do think that there’s plenty of capital there to be able to absorb those losses dziubinski we’ve reached the picks portion of our program and we’ve talked quite a bit on this show about your expectation that the stock market will likely continue to trade kind of sideways until it sees a clear improvement in economic indicators with that in mind you’ve brought along five stocks you like for a sideways market these are all widemoat companies with pretty reliable sales and cash flows offering attractive dividend yields and their stocks are undervalued your first stock that fits this bill is altria mo sekera to pick these stocks actually what i did is i just conducted a screen of all of our stock coverage picked out those that had 4 and 5star ratings those with a narrow or a wide economic moat but then also looked for those stocks that had a low or medium uncertainty rating and then also a relatively high dividend yield the first one you know is altria now personally i don’t like investing in tobacco stocks but i did want to highlight this one for people it’s currently a 4starrated stock has a wide economic moat and a medium uncertainty rating and pays a really large dividend yield of 83 right now of course as a tobacco stock it does have very relatively steady cash flows dziubinski now your second pick this week is crown castle cci that’s a specialty reit focusing on communications infrastructure sekera crown castle as you mentioned is a reit and they own i think about 40000 cellphone towers and they also own 85000 miles of fiber they do have very steady cash flows and their client base for the most part are going to be the big three companies like verizon vz att t and tmobile tmus those are all investmentgraderated companies so no concerns there it’s a 4starrated stock trades somewhere near a 20 discount to fair value right now and has a medium uncertainty rating dziubinski your next pick for a sideways market is duke energy duk why sekera duke energy is a 4starrated stock trades at over a 10 discount to fair value and pays a dividend yield of 43 as you would expect from a utility company it does have very steady cash flows has a narrow economic moat and a low uncertainty rating dziubinski cme group cme is your next pick and cme reported good firstquarter results sekera cme is the old chicago mercantile exchange and it also operates several other financial exchanges now it’s a 4starrated stock trades about a 15 discount to fair value a wide economic moat medium uncertainty rating now this one’s interesting in that they pay a dividend of 110 per quarter right now but they also pay a variable dividend at the end of the year right now their trailing dividend yield is 47 dziubinski your last stock pick this week is a familiar name kellogg k what do you like about it sekera kellogg is one of the few stocks in that consumer defensive space that we still see good opportunity and upside value for investors it’s currently rated 4 stars trades close to an 18 discount to fair value it’s a company with a wide economic moat and a medium uncertainty rating their dividend yield right now i believe is about 34 now the thing with kellogg is i would note that the valuation we have is based on the intrinsic value of the entire company now there could be some noise here in the short to medium term the company is planning on splitting up into the snacks business and the cereal business really this is a way that management is attempting to try and unlock that intrinsic value and increase value for investors now we’re kind of skeptical that spinoff really makes much of a difference in the short term but overall we do think that investors will have a good valuation here going forward owning both parts of those businesses dziubinski well thanks for your time this morning dave dave and i will be taking next monday off to enjoy memorial day but be sure to join us again live on youtube in two weeks on monday june 5 at 9 am eastern 8 am central while you’re at it subscribe to morningstar’s channel have a great week

shares of cme group inc cl a cme shed 162 to 18414 monday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 031 to 398224 and the dow jones industrial average djia rising 022 to 3288909 the stocks fall snapped a twoday winning streak cme group inc cl a closed 6785 short of its 52week high 25199 which the company reached on march 22nd the stock underperformed when compared to some of its competitors monday as intercontinental exchange

shares of fmc corp fmc shed 166 to 12704 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 154 to 396394 and dow jones industrial average djia falling 145 to 3384946 the stocks fall snapped a threeday winning streak fmc corp closed 1395 below its 52week high 14099 which the company achieved on april 20th despite its losses the stock outperformed some of its competitors monday as corteva inc ctva fell 211 to 6493 trading volume 646279 remained 240729 below its 50day average volume of 887008 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of penn national gaming inc penn rose 289 to 3386 monday on what proved to be an allaround great trading session for the stock market with the nasdaq composite index comp rising 040 to 1206137 and the dow jones industrial average djia rising 005 to 3291578 penn national gaming inc closed 5254 below its 52week high 8640 which the company reached on september 8th the stock demonstrated a mixed performance when compared to some of its competitors monday as boyd gaming corp byd rose 131 to 6017 caesars entertainment inc czr rose 344 to 5234 and churchill downs inc chdn rose 045 to 21125 trading volume 41 m remained 144244 below its 50day average volume of 42 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of gopro inc gpro inched 059 higher to 687 tuesday on what proved to be an allaround mixed trading session for the stock market with the dow jones industrial average djia rising 071 to 3415201 and the nasdaq composite index comp falling 019 to 1310255 gopro inc closed 527 below its 52week high 1214 which the company achieved on november 18th the stock outperformed some of its competitors tuesday as canon inc adr caj fell 074 to 2551 and sony group corp adr sony fell 093 to 8611 trading volume 22 m eclipsed its 50day average volume of 21 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

seemingly every day us investors are being buffeted by a flurry of sometimes conflicting economic data take this past week for example the us leading economic index sank 12 in march its biggest decline in three years the indicator has now declined for 12 straight months then one day later on friday investors received readings

shares of cadence design systems inc cdns slipped 082 to 19008 tuesday on what proved to be an allaround mixed trading session for the stock market with the dow jones industrial average djia rising 026 to 3639821 and the sp 500 index spx falling 010 to 478635 the stocks fall snapped a fourday winning streak cadence design systems inc closed 178 below its 52week high 19186 which the company achieved on december 27th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as autodesk inc adsk fell 054 to 28277 synopsys inc snps fell 092 to 37215 and ansys inc anss fell 032 to 40992 trading volume 10 m remained 290418 below its 50day average volume of 13 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

fresnillo plc fres shares inched up 079 to £661 wednesday on what proved to be an allaround poor trading session for the stock market with the ftse 100 index ukx falling 175 to 762710 fresnillo plc closed £336 short of its 52week high £997 which the company reached on january 5 the stock outperformed some of its competitors wednesday as hochschild mining plc hoc fell 528 to 7170 pence trading volume 731748 remained 361713 below its 50day average volume of 11 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of maruti suzuki india ltd 532500 inched up 026 to 850315 indian rupees wednesday on what proved to be an allaround positive trading session for the stock market with the sp bse sensex index 1 rising 028 to 6030058 maruti suzuki india ltd closed 126550 rupees short of its 52week high 976865 rupees which the company

shares of hershey co hsy advanced 178 to 23669 wednesday on what proved to be an allaround poor trading session for the stock market with the dow jones industrial average djia remaining mostly unchanged at 3359792 and the sp 500 index spx falling 019 to 393392 the stocks rise snapped a twoday losing streak hershey co closed 476 below its 52week high 24145 which the company achieved on october 31st editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

the anheuserbusch inbev sa adr bud slid 100 to 5669 wednesday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 020 to 444682 and dow jones industrial average djia falling 038 to 3428864 anheuserbusch inbev sa adr closed 1040 short of its 52week high 6709 which the company achieved on march 31st the adr demonstrated a mixed performance when compared to some of its competitors wednesday as kirin holdings co ltd adr knbwy fell 266 to 1425 san miguel corp smgbf fell 152 to 195 and compania cervecerias unidas sa adr ccu rose 012 to 1663 trading volume 16 m remained 923907 below its 50day average volume of 25 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

the utility and real estate sectors are most at risk from the end of easy money but healthier household balance sheets should support consumerfacing stocks say strategists at evercore isi the worldwide surge of inflation “has forced the fed and global central banks to hike rates at a record pace” evercore’s equity and derivatives strategy team led by julian emanuel said in a note that published over the weekend the faster pace of inflation and higher central bank policy rates has clobbered bond prices and forced up yields “the end of the 40year bond bull market and ensuing surge in borrowing costs poses risks to leveraged players that have grown accustomed to low cost debt” said the strategists this may be particularly problematic for those sectors that tend to carry greater levels of debt also known as being highly leveraged “as rates have risen market yields are now well above current coupon rates suggesting corporates that rely heavily on debt are likely to see a step up in their effective interest expenses” sectors most at risk from this scenario what evercore dubs the “debt exposed” are utilities real estate and telecommunications because they “currently garner the highest leverage and lowest ebitda coverage which could pose downside to eps if rates remain higher for longer” the sectors relatively more immune for higher interest rates the “debt covered” are information technology energy and healthcare evercore also notes that consumer discretionary and consumer staple companies face problems from higher interest rates because they have a large proportion of shortterm debt that will soon need refinancing however those sectors will be supported by the spending of households sporting relatively healthy balance sheets “households have remained relatively sheltered from rising interest rates deleveraging since the gfc global financial crisis is expected to have lowered households’ interest rate sensitivities balance sheets have improved across nearly all income quintiles” said evercore

pharmaceutical tablets and capsules are arranged in the shape of a us dollar sign on a table in this picture illustration taken in ljubljana august 20 2014 reuterssrdjan zivulovicfile photo aug 12 reuters plunging valuations have made biotech companies tempting acquisition targets for cashrich big pharma and a flurry of deals is just what the battered sector needs to turn a corner pfizers pfen 54 billion acquisition of global blood therapeutics gbto which was announced on monday is the fourth deal in the sector since the pharma giant bought biohaven bhvnn for 116 billion in may adding to optimism that large drugmakers are back in the market to pick up cheaper firms industry experts predict biotech firms that are closer to getting their product to market or already have a drug approved are likely to become ma targets for large drugmakers some of whom are staring at patent expirations of their cash cow drugs there have been acquisitions of companies that have latestage assets and also the theme of largecap companies keeping an eye on midcaps approaching blockbusters rbc capital markets analyst gregory renza said so needing to replenish portfolios and finding companies like those are key biotech company stocks have been battered in the past few months as investors booked profits after a sharp rise in valuations in 2021 with the rout exacerbated by a dearth of large deals and lack of positive data from clinical trials read more the nasdaq biotechnology index nbi fell nearly 28 in the year till the pfizerbiohaven deal was announced in may since then the index is up over 18 the spdr sp biotech etf xbip is also up 34 in that period while ishares biotechnology etf ibbo is up about 19 pfizers move put boards across big pharma on notice that if youre not in the market buying these companies while theyre cheap your competitors will thomas hayes chairman and managing member of great hill capital in new york said still not all analysts are convinced the bottom has been reached for these stocks and believe there is still a long way to go for biotechs especially considering the risky nature of the business i dont think well get back to 2021 funding levels but were seeing a nice virtuous cycle of good data more capital entering the space and more ma sean sun portfolio manager at thornburg investment management said sentiment around the beatendown sector has improved in the past month about 86 million was poured into ishares biotechnology etf in july compared with 7 million in june following outflows in the two preceding months according to refinitiv lipper data the number of stocks in the biotech index that trade below their cash level has also reduced one of four biotech stocks that are part of the index now trade below their cash level from one of three in the last week of june refinitiv data showed the fundamentals are strong as ever the valuations have corrected and the acquirers have a boatload of money said lee brown global healthcare leader for investment research firm third bridge so its sort of like lets party additional reporting by medha singh editing by ankur banerjee and shounak dasgupta

with its successful retail cultivation manufacturing and distribution electraleaf has established its presence as a leader in a very crowded oklahoma cannabis market now theyre taking on the new york market the companys latest venture lifted new york was recently licensed by the ny state for cultivation through its partnership with larchwood farms a hemp cultivator in ithaca as part of its push to provide opportunities to existing new york hemp businesses as well as social equity applicants new york has adopted a program to allow existing licensed hemp farms to convert their business into adultuse cannabis farms for cultivating plants higher in thc than hemp rules allow for per new york state regulations for converting those farms to recreational cannabis growers electraleaf will begin by cultivating exotic cannabis from their genetic library of 18000 unique strains stored at their sf greenhouse and will utilize the surrounding land to plant an outdoor garden the team also has plans to add indoor cultivation once new york releases the applications so they can expand into their preferred method of growing cannabis energyefficient indoor cultivation utilizing led lighting and organic nutrients with sustainable recyclable packaging for all its products born in puerto rico and raised in the us electraleaf ceo pedro sotomayor used to ride around new york as a child and teenager with his grandfather as he recounted the glory days of early and mid 1900’s new york “as a teenager my abuelos stores of new york left a lasting impression on me as an adult new york has always been my favorite place to spend time so i’m beyond excited to be awarded this license and come back east and share with new york the knowledge experience genetics and robust product lines we’ve developed and refined” sotomayor told benzinga in oklahoma electraleaf currently operates a vertically integrated brand house and cannabis company the company has been awarded 20 high times cannabis cup awards for flower rosin vape edibles concentrate prerolls and topicals it was also selected in 2019 as the oklahoma cultivation and manufacturing partner for the international cannabis brand cookies california not only is sotomayor the first latino ceo and owner of a new york cannabis license he has also been a caregiver for his disabled mother for the last 22 years as part of his and the companys commitment to help others breed excellence and community electraleaf will implement a social equity program to assist in preparing applicants for the startup and operations phase of their own cannabis businesses in new york “my life experiences taking care of my family gives me a broad understanding of the challenges many go through in life and my understanding and empathy of them has developed into a desire to help others sotomayor said that desire will manifest itself in the electraleaf social equity mentorship program we love the industry and culture of cannabis so we look forward to providing training education consulting and more to handselected social equity and minority applicants who have displayed a commitment to learning and the pursuit of excellence in new york with a commitment to community culture awardwinning genetics and product lines it seems new york cannabis will be in good hands with the team at electraleaf

shares of broadcom inc avgo advanced 259 to 57104 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 073 to 401965 and the dow jones industrial average djia rising 030 to 3410864 this was the stocks fourth consecutive day of gains broadcom inc closed 10672 below its 52week high 67776 which the company achieved on december 28th the stock underperformed when compared to some of its competitors tuesday as nvidia corp nvda rose 306 to 18072 trading volume 40 m eclipsed its 50day average volume of 23 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of united rentals inc uri slid 538 to 42928 friday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 145 to 386159 and dow jones industrial average djia falling 107 to 3190964 this was the stocks second consecutive day of losses united rentals inc closed 5271 short of its 52week high 48199 which the company achieved on march 6th despite its losses the stock outperformed some of its competitors friday as herc holdings inc hri fell 646 to 12636 trading volume 17 m eclipsed its 50day average volume of 697474 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

when russian tanks rolled into ukraine on feb 24 beginning the largest land war in europe since germany invaded france in may 1940 they also sent shock waves through the markets the russian economy is hemorrhaging european stocks have fallen into technicalcorrection territory and whipsawed us markets—still in the black for now—face spiking energy prices that may signal recession what happens next is anyone’s guess with no end in sight to the invasion and the fate of the entire word seemingly in the hands of one

shares of penn entertainment inc penn slipped 170 to 2427 wednesday on what proved to be an allaround dismal trading session for the stock market with the nasdaq composite index comp falling 121 to 1350220 and dow jones industrial average djia falling 030 to 3395152 this was the stocks sixth consecutive day of losses penn entertainment inc closed 1508 short of its 52week high 3935 which the company reached on november 15th the stock underperformed when compared to some of its competitors wednesday as las vegas sands corp lvs fell 063 to 5832 draftkings inc cl a dkng rose 077 to 2495 and mgm resorts international mgm fell 030 to 4293 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of expedia group inc expe rallied 235 to 18497 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 064 to 479656 and the dow jones industrial average djia rising 068 to 3658506 expedia group inc closed 688 short of its 52week high 19185 which the company achieved on november 8th the stock underperformed when compared to some of its competitors monday as tripadvisor inc trip rose 437 to 2845 makemytrip ltd mmyt rose 491 to 2907 and travelzoo tzoo rose 552 to 994 trading volume 20 m remained 625426 below its 50day average volume of 27 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

do the gains weve seen year to date hold its a great question and thank you for having me certainly the markets are turning higher based on the jobs report we saw last friday i think that momentum is extending into today and of course with powell suggesting that disinflation has begun even though we are expecting rates to go higher i think the markets are cheering that there is still again that strong economy underneath i can hold still stronger rates to come and so it is not a surprise to us to see some of these growth year type names tech included rebound based on this news is this market pricing in this earnings recession it is to an extent i think its really pricing in the soft landing scenario what has been a surprise to us is the fact that earnings have started to moderate lower we have seen the estimates for q1 2023 earnings come down maybe 5 to 7 percent so far but yet the market continues to move higher and now the forward p on the s p is roughly around 18 times so the fact that it is more the p part of the p e ratio moving higher does give us a little bit of a pause we also recognize that the markets tend to move higher for six months in advance of the trough of earnings revisions and so this could be part of that but it is a little bit of surprise to us that the s p is trading at the upper bound of this bear market range that weve been seeing all last year so i mean why this lack of volatility when clearly were seeing some churn in the markets yeah you know its interesting you mentioned volatility its been this capitulation point that weve been trying to find as well to try to find the bottom in this bear market but it hasnt transpired and its a little puzzling to us as well because that is some thing were looking for to try to figure out whether or not weve hit a bottom and its not there so in essence we are expecting that there could be a continued just more of this some trading between the 4000 that were at today and really this range bound movement of the s p obviously at the upper end of that were expecting more of this volatility until weve really seen more signs from the fed as well as again that bottoming of earnings estimates that weve just talked about before well amy this kind of outperformance youre seeing from the nasdaq it feels like its a long time coming from a bulls point of view especially the carnage that we saw in 2022 for the stock market what could rattle that if we are already starting to see shareholders reward the sector for that cost efficiency story youre absolutely right i think to my earlier comments the market is starting to really price in a soft landing and thats obviously based off of fed comments and of course you know jobs data being so strong so the economy is still on a very good footing from the standpoint of cannot withstand further rate hikes i think we can rattle that could be extraneous factors that we just dont have any control over whether its a shock to the system it could be an energy shock or again the fed making a monetary mistake meaning they raise how they raise interest rates further than what the street is expecting which at this point is a terminal rate of about five five point one percent but if they go beyond that i think the markets may again reverse course based on what were seeing today so i mean what are you telling your clients when theyre asking you where do we go in an environment like this and this year looks like last year so far what do you say its a very tricky question its a its a tough conversation clearly but i think in general we are not advising clients to move more money back into the stock market you know this is the kind of rally that quite frankly we are taking advantage of to take profits off the table where its appropriate and really thinking about maybe locking in some more steady stream of income in the fixed income market which as you pointed out rates in the shorter term have been yielding 4 percent four and a half percent even five percent if you go out three to four years that to us you know again may be interesting compared to what we see in terms of upside for the equity market so this is kind of market that were actually rebalancing as opposed to chasing performance well we are of course in conversation with amy kong a bear at asset management stick with us for now i want to quickly get over to bloomberg just mentioned standing by with our stock of the hour just well kristie im taking a look at whats happening again with shares of bed bath and beyond down about 50 percent on pace for its biggest decline on record this does come as its aggressively trying to raise capital it has its share sale of course to about one billion dollars but if you zoom out and you think more whats happened this year lets stock still up about one hundred and thirty percent in anticipation that it could potentially avoid a bankruptcy but its not just bed bath and beyond this year if you think back what happened in january actually bloomberg intelligence has a mean factor where they were looking at these more speculative corners of the market they were outperforming their counterparts by 16 percent but i was talking to chris crane over at bloomberg intelligence and he doesnt think thats necessarily sustainable given the federal reserves trajectory where rates are and also just when you think of the mean sector dynamic that happened in 2020 and 2021 he doesnt think that can continue so id like to turn it back over to amy when youre seeing these more speculative corners of the market that are popping there might be this phone back into the market how tricky is this going to make it for the federal reserve when you did hear from jerome again earlier today talking about financial conditions tightening yeah its interesting you raise that you know ive just been asked by a client whats that next mobile to to traverse the market and i think its not necessarily one gigantic bubble it could be some of these smaller bubbles to your point mean stocks could be a bubble crypto could be another bubble from the fed standpoint you know i think its something they keep track of but i certainly think they would put a lot more weight on the financial backbone of the of the economy which is you know obviously the banking system and i have to give credit that throughout the past decade plus theyve been really adamant about strengthening that backbone and based on the bank earnings we saw i think that continues to give the fed the confidence that they are looking for that they can still raise rates a backbone of the economy is still intact we have not seen any you know if we just numbers coming from the banking sector or anything that really is a red flag or an alarm so from our standpoint i think the fed obviously pays attention to the bit thats in bonds of the world and these new stocks but i certainly think theres probably less weight relatively speaking on this corner of the market versus again really what the center forward of what theyre looking for which is again the banking system

shares of live nation entertainment inc lyv slid 292 to 10860 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 091 to 466897 and dow jones industrial average djia falling 089 to 3565095 the stocks fall snapped a fiveday winning streak live nation entertainment inc closed 1915 short of its 52week high 12775 which the company reached on november 5th the stock underperformed when compared to some of its competitors monday as ebay inc ebay fell 030 to 6669 and world wrestling entertainment inc cl a wwe fell 204 to 4812 trading volume 23 m eclipsed its 50day average volume of 22 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

okta inc topped wall street estimates by a wide margin late wednesday and forecast adjusted earnings that were more than double what analysts on average had forecast okta stock okta rallied as much as 9 after hours following a 02 rise to close the regular session at 7144 for the first quarter okta forecast adjusted earnings of 11 cents to 12 cents a share on revenue of 509 million to 511 million and fullyear earnings of 74 cents to 79 cents a share on revenue of 216 billion to 217 billion meanwhile analysts surveyed by factset had forecast a breakeven top line on a pershare basis for the first quarter on revenue of 4985 million and 36 cents a share on revenue of 215 billion for the year okta reported a fourthquarter loss of 153 million or 95 cents a share compared with a loss of 241 million or 156 a share in the yearago period after adjusting for stockbased compensation expenses and other items the company reported earnings of 30 cents a share compared with 18 cents a share in the yearago period revenue rose to 510 million from 383 million in the yearago quarter analysts had forecast earnings of 9 cents a share on revenue of 4899 million that was based on the company’s forecast 9 cents to 10 cents a share on sales of 488 million to 490 million when the street had expected a loss also last quarter chief financial officer brett tighe had revealed a full forecast for fiscal 2024 that the company would see adjusted profit on revenue of 213 billion to 215 billion at the end of january one analyst upgraded okta to a buy reasoning that they have “generally happy customers” and that will come into play as cloud software vendors face budgetconstrained customers read from november okta ceo promises profit for all of next year ‘the problem was never that we didn’t have talented sales people’

billionaire charlie ergen may combine his two telecom companies paytv provider dish network corp and satellitecommunications company echostar corp the wall street journal reported monday night according to the journal a deal could be announced as soon as tuesday dish dish has a valuation of about 4 billion while echostar sats has a market cap of about 16 billion exact terms were not reported but the journal said the price could be at a discount from echostar’s current stock price after it surged 21 to 2350 on monday after lingering in the 1518 range in recent months ergen controls both companies and the journal said a combination would give him the financial flexibility to build a national wireless network to compete with att inc t and verizon communications inc vz among dish’s holdings is wireless company boost mobile and it’s been building a nationwide 5g network echostar was spun off from dish in 2008 dish shares have recently been trading at their lowest level since 1999 dish shares are down 46 year to date while echostar is up 41

investors are carefully watching the retail sector going into 2023 for signs of a slowing economy and consumer weakness still there are some stocks that are poised to gain even in an uncertain environment according to goldman sachs overall the firm expects real consumer spending to grow by 16 in 2023 while not all retailers face the same compares we do think compares for the overall industry unless there is an idiosyncratic reason are difficult wrote kate mcshane in a monday note we introduce a framework as a way for picking stocks as we dont believe easy compares will be enough of an investment consideration for those looking to invest in the names the firm sees a few factors that will lead some companies to succeed in the coming year these include the ability to gain market share and offset macro pressures lap competitors and translate cash into shareholder returns and have an attractive valuation top pick goldmans top pick in the space is bath body works which it rates a buy and sees the potential for more than 24 upside bbwi stock has started to appreciate more meaningfully since the company reported in late november after an inline sales result but better than expected merchandise margins wrote mcshane we continue to recommend bbwi into 2023 given a higher level of newness in stores increased digital interest and higher sales driven by the companys new loyalty program and some easing inflationary headwinds on both products costs and transportation the stock trades at 139 times next years earnings according to goldman estimates which is a premium to where shares have traded but a significant discount to the market and its peers push back for this idea will likely be that the business is highly discretionary and will have a harder time outperforming if fy23 is a year with a tougher macro backdrop as well as the idea that the company is lapping a significant amount of growth since 2019 we estimate bbwi revenue will be up 477 in 2022 v 2019 upgrades downgrades and other recommendations goldman also reviewed some of its ratings on other retail stocks and upgraded shares of best buy to neutral from sell and raised its price target to 83 implying a 25 upside from fridays close though theres still a tough shortterm environment the firm sees the potential for the electronics retailer in the longterm to improve margins in the coming years best buy can also continue to gain market share and return cash to shareholders in dividends and buybacks at the same time goldman downgraded shares of ulta to neutral from buy citing tougher growth in 2023 after a solid year the bank also said ultas margins skew to the downside and current valuation signals little room to grow the beauty retailer was an outperformer in the space this year rising about nearly 14 goldman also downgraded to sell shares of genuine parts company and rh as it sees littletono upside for the stocks in the coming year it has sell ratings on shares of bed bath beyond big lots and williamssonoma on the flip side it has buy ratings on shares of walmart oreilly automotive bjs wholesale club dollar general dicks sporting goods five below and more cnbcs michael bloom contributed to this report

a man looks at a mobile phone in front of the bank of japan building in tokyo japan june 16 2017 reuterstoru hanai bengaluru oct 28 reuters central banks reducing emergency stimulus too quickly and further supply chain disruption are among the top risks to the world economy next year as the covid19 pandemic lingers according to economists in a global reuters poll given global growth has likely peaked forecasters have broadly sided with the view shared by many top central bankers that the recent surge in inflation will be transitory even though their forecasts are drifting higher but even though supply chain bottlenecks pose a serious threat to the recovery and there is scant sign so far of a sudden easing some stock markets are trading close to record highs even as interest rates are now on the rise the concern is after an extended period of record low rates and emergency policy that central bankers may get impatient and feel compelled to respond to the current spike in inflation where people are now feeling the pinch reuters polls covering more than 500 economists from around the world concluded that 13 of 25 central banks would raise interest rates at least once before the end of next year some already have like central banks of new zealand russia and brazil but about onequarter of 171 economists responding to an extra question said central banks dialing down stimulus too quickly was one of the biggest downside risk to the global economy a similar number of respondents said more supply chain disruptions or flareups in the covid19 pandemic set to enter its third year in 2022 as a muchdiminished but still not vanquished threat were the top risks many major central banks are now cautiously shuffling towards the exit when it comes to their ultraloose monetary policies they arent doing this because of the strength of the economic recovery said jan lambregts head of global economics and markets research at rabobank costpush inflation appears to have set the wheels in motion at central banks who said they now have a broader sociopolitical focus getting this one wrong could therefore prove very costly in terms of maintaining their policy independence indeed global growth was expected to slow to 45 next year from a blistering 59 this year largely unchanged from july that slowdown next year is a bit sharper than international monetary funds latest projection of 49 growth was forecast to slow to around that pace in 2023 at 35 according to the poll the initial burst of activity linked to reopening is over and growth momentum is rapidly losing pace fading fiscal support is playing a role but so too are the direct impact of covid19 related restrictions and disruptions noted janet henry global chief economist at hsbc despite the uncertainties many central banks want to bring the era of ultraloose monetary policy to an end most central banks are eyeing the exit but there are some notable large exceptions the bank of england the bank of canada are expected to raise rates next year and the european central bank is predicted to hike in 2024 but the bank of japan is now forecast to do nothing with interest rates through the end of the forecast horizon economists upgraded inflation outlooks for 18 of 21 developed economies by between 01 and 07 percentage points and for 15 of 27 emerging economies by between 01 and 18 percentage points but nearly twothirds of economists 117 of 182 who responded to an extra question said the recent surge in global inflation was unlikely to persist over the next 23 years the remaining 65 respondents said persistently higher inflation was likely and among them over 60 said there was a high risk it dents world growth its likely that inflation will fall back in every major economy next year but there is evidence that underlying inflation pressures are building said neil shearing group chief economist at capital economics i dont think thats the 1970sstyle inflation episode but when you look across all indicators in the labour market and the product market they all point to price increases and a higher rate of underlying inflation growth in china the worlds secondlargest economy was projected to slow to 55 in 2022 from an expected expansion of 82 this year most other major emerging market economies were expected to struggle this year and next while developing asian economies exchina have been disproportionately hit by the delta variant they have shown some signs of a renewed pickup as covid19 cases fall still the economies with low levels of vaccinations remain vulnerable said lloyd chan senior economist at oxford economics reporting by shrutee sarkar analysis by sujith pai and hari kishan polling and additional reporting by the reuters polls team in bengaluru and bureaus in buenos aires istanbul johannesburg london shanghai and tokyo editing by ross finley john stonestreet and hugh lawson

shares of broadridge financial solutions inc br shed 117 to 16782 friday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 099 to 458223 and the dow jones industrial average djia rising 050 to 3545929 this was the stocks second consecutive day of losses broadridge financial solutions inc closed 1551 below its 52week high 18333 which the company reached on august 12th the stock demonstrated a mixed performance when compared to some of its competitors friday as fidelity national information services inc fis fell 216 to 5965 and affirm holdings inc cl a afrm rose 511 to 1727 trading volume 327054 remained 216685 below its 50day average volume of 543739 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of kinder morgan inc kmi slid 028 to 1806 tuesday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 028 to 456746 and the dow jones industrial average djia rising 008 to 3543807 kinder morgan inc closed 130 short of its 52week high 1936 which the company achieved on december 1st editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of illinois tool works inc itw inched 015 higher to 23389 thursday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 053 to 401232 and the dow jones industrial average djia rising 033 to 3315391 this was the stocks second consecutive day of gains illinois tool works inc closed 1948 below its 52week high 25337 which the company reached on february 2nd the stock demonstrated a mixed performance when compared to some of its competitors thursday as 3m co mmm fell 003 to 10891 roper technologies inc rop rose 224 to 43104 and amphenol corp cl a aph rose 058 to 7764 trading volume 12 m eclipsed its 50day average volume of 10 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of dr horton inc dhi slumped 088 to 7217 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 067 to 403061 and dow jones industrial average djia falling 057 to 3209899 this was the stocks second consecutive day of losses dr horton inc closed 3828 short of its 52week high 11045 which the company reached on december 13th the stock underperformed when compared to some of its competitors monday as lennar corp cl a len fell 054 to 7990 nvr inc nvr fell 028 to 421305 and pultegroup inc phm fell 032 to 4091 trading volume 16 m remained 16 million below its 50day average volume of 32 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

the us securities and exchange commission brings too few enforcement cases against loudmouthed shortsellers according to the thinking of some stockholders and public companies last week a federal jury awarded the sec a partial victory in one of the rare civil fraud cases it’s brought against an outspoken short on nov 5 the jury in boston’s federal district court found that hedgefund manager gregory lemelson had made three false statements in his public criticism of the drug company ligand pharmaceuticals ticker

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shares of altria group inc mo slipped 060 to 4507 thursday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 094 to 419805 and the dow jones industrial average djia rising 034 to 3353591 altria group inc closed 982 below its 52week high 5489 which the company achieved on may 26th despite its losses the stock outperformed some of its competitors thursday as philip morris international inc pm fell 095 to 9260 trading volume 66 m remained 19 million below its 50day average volume of 85 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of interpublic group of cos ipg slipped 240 to 3749 wednesday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 001 to 415452 and dow jones industrial average djia falling 023 to 3389701 interpublic group of cos closed 203 short of its 52week high 3952 which the company achieved on february 3rd the stock demonstrated a mixed performance when compared to some of its competitors wednesday as trade desk inc cl a ttd fell 082 to 6161 and gartner inc it fell 331 to 30724 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

treasurys resumed a selloff tuesday pushing up yields particularly for shorter dated maturities and sending a key measure of the yield curve closer to inversion and triggering a closely watched recession indicator the 10year treasury yield traded around 8 basis points above the 2year yield with the spread narrowing from just under 14 basis points monday afternoon if the 2year yield trades above the 10year it would represent an inversion of that measure of the curve a reading that has been a reliable precursor of past recessions albeit with a lag read the yield curve is speeding toward inversion here’s what investors need to know stockindex futures pointed to another round of gains on wall street with optimism over ceasefire talks between russia and ukraine credited with lifting sentiment russian and ukraine negotiators kicked off their first talks in two weeks in turkey yields rose sharply last week as investors penciled in a faster and more aggressive round of rate increases from the federal reserve after chairman jerome powell on march 21 left the door open to rate increases of more than 25 basis points or a quarter percentage point a prospect echoed by some other policy makers in one chart ‘the dam finally broke’ 10year treasury yields spike to breach top of downward trend channel seen since mid1980s says deutsche bank the economic calendar features the 10 am release of the february job openings and labor turnover survey or jolts a closely watched gauge of labor market tightness it’s a busy week for jobs data including automatic data processing’s wednesday estimate of march privatesector job creation and the labor department’s official march jobs report on friday a march consumer confidence reading is also due at 10 am wednesday ahead of that investors get a look tuesday at the january caseshiller national house price index at 9 am the fhfa’s january national house price index is due at the same time philadelphia fed president patrick harker is set to speak at 1045 am while atlanta fed president raphael bostic delivers remarks at 630 pm the treasury department is set to auction 47 billion of 7year treasury notes “the main talking point is likely to be the continued rapid flattening of the us yield curve which is threatening to invert for the seventh time since i started caring about it in the 1980s” said kit juckes macro strategist at société générale in a tuesday note “only one of those the teenyweeny inversion in 1998 wasn’t followed by recession the caveat to the whole inversionrecession debate is that yield curves never used to be distorted to the current degree by the shenanigans of qe still it would seem silly to simply discount the message the bond market is sending” he wrote

samestore sales are critical for retailers but many investors worry that they will fall in 2022 because 2021—a great year for the industry–gave them a hefty boost analysts have increased their estimates for the key metric for only five companies in the past month although definitions vary among companies samestore sales or comparable sales typically measure the change in revenue at stores that have been open more than a year that is helpful because it shows how existing stores are performing—a company’s sales may

shares of unitedhealth group inc unh rose 02 toward a fourmonth high in premarket trading friday after the health insurer reported profit and revenue that rose above expectations and lifted its fullyear earnings outlook net income increased to 561 billion or 595 a share from 503 billion or 527 a share in the yearago period excluding nonrecurring items adjusted earnings per share of 626 topped the factset consensus of 616 revenue grew 147 to 9193 billion well above the factset consensus of 8970 billion as unitedhealthcare revenue rose 126 and optum revenue increased 249 unitedhealthcare served nearly 2 million more people than it did a year ago with growth across its commercial communitybased and seniorbenefit offerings for 2023 the company raised its adjusted eps guidance range to 2450 to 2500 from 2440 to 2490 the stock has slipped 08 year to date through thursday while the health care select sector spdr exchangetraded fund xlv has eased 01 and the dow jones industrial average djia has gained 27

bulgarian nevse molalieva r works at a sewing machine during her training course in a sewing factory in gotse delchev some 200km 118 miles south of sofia may 9 2013 reutersstoyan nenov sofia may 16 reuters bulgarias unemployment rate eased to 46 in april from 48 in the previous month as employers in the processing industry retail and hospitality sector opened new jobs data from the state employment agency showed on monday the jobless rate was 61 in april 2021 when the balkan countrys economy was hit by restrictions aimed at curbing the spread of coronavirus there were about 5316 less unemployed people in the country of 7 million than in april when compared with the year before there were 49870 fewer unemployed bulgarians more than 15144 people started work in april

the british pound has put the volatility in uk financial markets during the former premiership of liz truss very far in the rearview window as the bank of england readies another interestrate hike the uk currency gbpusd was holding above 126 on wednesday part of an impressive recovery since falling as low as 103 in the aftermath of the minibudget last year from liz truss’s finance minister kwasi kwarteng

the treasury sold 994 million of i bonds before the deadline on friday nearly as much in one day as during the three years from 2018 to 2020 when investors bought slightly more than 1 billion according to treasury department figures shared monday night investors opened 95482 new accounts on friday also a record investors purchased more than 3 billion of i bonds last week and almost 7 billion in october which represent weekly and monthly records too according to the treasury department investors opened 359822 new accounts last week and 731336 new accounts during october treasurydirectgov the website where investors purchase i bonds crashed on friday as the volume swelled treasurydirect became one of the most visited websites in the federal government in the final days of the 962 rate window the treasury department said friday it typically hosts just a few thousand concurrent visitors there are two parts to the rate a fixed rate which stays the same after purchase and a variable rate which shifts twice per year based on inflation the treasury department announces new rates every may and november investors may lock in the new 689 rate for six months by purchasing i bonds any time before the end of april 2023 you can purchase the assets online through treasurydirect limited to 10000 per calendar year for individuals you can also use your federal tax refund to buy an extra 5000 in paper i bonds

william ackman founder and ceo of the hedge fund management company pershing square capital management announced tuesday that the company purchased 31 million shares of netflix following the stock’s plunge last week in response to a disappointing earnings report the purchase makes pershing square a top20 shareholder in netflix according to a letter to its investors released wednesday in which ackman said he and the company have “greatly admired netflix as consumers and investors” pershing square began purchasing shares last friday after netflix’s fourthquarter earnings report revealed a continuing trend of declining subscriber growth the disappointing report caused a 30 dip in share price off 14855 to 35970 since thursday netflix stock is down 403 in 2022 surpassing moderna as the sp 500’s worstperforming stock of the year so far following the drop netflix shares were up 49 in afterhours trading following ackman’s announcement ackman said in his letter to investors that pershing square funded the purchase using about 125 billion of proceeds accrued from its interest rate hedge netflix’s subscriber growth has slowed since its success early in the covid19 pandemic during which it benefited from the increase in the number of people staying home it reported a net increase of 828 million global streaming subscribers in its fourth quarter last thursday marking an 89 gain over the same quarter a year ago—far below its 219 yeartoyear growth in the fourth quarter of 2020 bloomberg reported friday at least nine firms cut their recommendation of netflix after the fourthquarter report was released in a report macquarie analyst tim nollen cited growing competition from services like disney amazon prime and hbo max are becoming a “bigger problem now” 31 billion that’s how much ackman is worth according to forbes’ estimates making him the 368thrichest american and the 1111thrichest person in the world he founded pershing in 2004 and came to prominence with activist wins on fortune brands allergan and canadian pacific

change has been constant for berry global group it’s changed its growth strategy its capital structure even its name what it can’t change is what it does make plastics while that’s contributed to its underperformance recently it also created a buying opportunity for investors things haven’t been easy for the 91 billion marketcap plasticpackaging maker acquisition debt and strategic changes hurt the share price despite earnings growth and its major product has fallen from favor the fact that berry ticker bery makes plastic containers hangs over the stock like a plastic bag on an ocean reef but writing off berry for plastics overlooks changing practices in the industry and ignores one of the sturdiest of materials stocks berry global was taken public by apollo global management apo in 2012 the company was saddled with debt—10 times earnings before interest taxes depreciation and amortization or ebitda—then picked up more in a dozen deals designed to spur growth using takeovers to boost growth made organic growth look weaker by comparison in 2019’s fiscal fourth quarter ended in september sales grew 47 year over year as berry digested a large acquisition comparable volumes however fell berry management recognized that things needed to change so it started reducing debt and focusing on organic growth currently berry has 89 billion debt net of cash and has generated 23 billion in ebitda over the past 12 months for a debt to ebitda ratio of 39 times it also has committed to operating between three and four times debt to ebitda which isn’t far off packaging peers sealed air see and amcor amcr organic unit volume growth—the kind that comes from existing businesses not acquisitions—was up 5 during its most recent quarter its sixth consecutive quarter of growth and is expected to come in at 5 in 2021 from 2 in 2020 berry hasn’t been rewarded for these changes during its most recent quarter the company reported a profit of 153 a share up slightly year over year and better than wall street projected despite higher raw material costs on sales of 37 billion up 26 from the same period in 2020 but its stock fell 11 it now trades at just 10 times estimated 2022 earnings down from a peak of about 18 times in early 2015 and well below the sp 500’s 20 that may be because of changing perceptions around plastic singleuse plastic products have been hit by a consumer backlash after spending the past decade making plastic lighter so less was used it’s now working to make it easier to recycle much like aluminum cans “plastic is an engineered product” says baird analyst ghansham panjabi who has a phd in chemical engineering “by definition it can be reengineered” ceo tom salmon says berry can make plastic products out of recycled plastic conventional plastic made from fossil fuels or plastic made from sustainable feedstocks like algae or wood chips it doesn’t matter what it’s made out of he says for berry’s stock to work it will have to alter perceptions of both its business and the industry berry is expected to grow earnings at a 9 clip over the next three years better than amcor’s 55 expected growth and slightly lower than sealed air’s 105 by reducing debt and perhaps paying a dividend like its rivals berry could narrow the gap between its 10 times 12month forward earnings and sealed air’s and amcor’s 15 times which would imply a 50 gain on multiple expansion alone berry doesn’t have to reach those heights for the stock to work its valuation is low enough that the stock should grow in line with earnings or some 9 a year without a change in multiple that’s the minimum return investors should have for berry shares panjabi thinks it can do better than that he has an outperform rating and an 83 price target on the shares up 23 from wednesday close of 6732 panjanbi arrived at his price target by applying an eight times multiple to fiscal 2022 estimated ebitda of 238 billion slightly higher than the street consensus of 232 billion while pointing out that peers are trading at 105 times estimated 2022 ebitda it is possible that perceptions of plastic can change particularly relative to other packaging materials “right now people look at packaging saying aluminum good plastic bad” says panjabi “plastic packaging five years from now is going to look different than what it was five years ago”

shares of netapp inc ntap slid 104 to 8886 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 000 to 468280 and dow jones industrial average djia falling 004 to 3608745 this was the stocks second consecutive day of losses netapp inc closed 583 short of its 52week high 9469 which the company reached on october 15th despite its losses the stock outperformed some of its competitors monday as hp inc hpq fell 148 to 3135 seagate technology holdings plc stx fell 228 to 10566 and western digital corp wdc fell 269 to 5893true trading volume 18 m eclipsed its 50day average volume of 13 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

canadian pacific railway ltd said it approved of the governments of canada and the province of new brunswick investing in additional capacity expansion at port saint john the rail company said it needs the additional capacity at port saint john based on its buy of the central maine and quebec railway which now connects atlantic canada to montreal toronto and the us midwest with a more seamless route that is 200 miles shorter than other shipping options the additional investment announced today by the federal government and the province of new brunswick will make a significant impact for port saint john and for canadas supply chains said keith creel cp president and chief executive the funding will bring port saint johns capacity up to 800000 teus 20foot equivalents almost tripling the ports existing capacity cp said it also approved of the canadian governments decision to invest in improving the rail infrastructure along the new brunswick southern railway a critical link between port saint john and cps north american rail network via the central maine and quebec railway in 2020 the company said that it would invest 90 million canadian dollars 701 million over three years to upgrade rail infrastructure along the central maine and quebec railway improving safety efficiency and resiliency

electrictruck startup rivian automotive is making progress that’s good enough for wall street but a new concern is brewing about the company’s next vehicle rivan stock ticker rivn is rising after the company reiterated fullyear production guidance of about 25000 units when reporting thirdquarter numbers on thursday evening

shares of norwegian cruise line holdings ltd nclh shed 153 to 1612 monday on what proved to be an allaround poor trading session for the stock market with the sp 500 index spx falling 039 to 394994 and dow jones industrial average djia falling 013 to 3370028 this was the stocks fourth consecutive day of losses norwegian cruise line holdings ltd closed 778 below its 52week high 2390 which the company achieved on february 9th the stock demonstrated a mixed performance when compared to some of its competitors monday as royal caribbean group rcl rose 012 to 5876 carnival plc adr cuk fell 141 to 840 and carnival corp ccl fell 158 to 932 trading volume 100 m remained 132 million below its 50day average volume of 232 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of fortive corp ftv inched 003 higher to 6455 wednesday on what proved to be an allaround mixed trading session for the stock market with the sp 500 index spx rising 045 to 413764 and the dow jones industrial average djia falling 009 to 3353133 fortive corp closed 523 short of its 52week high 6978 which the company reached on february 9th

of all the policy levers we can pull to help fix america’s retirement crisis the best may be shockingly simple just getting people some basic financial advice one to one a startling new research study has found that simply talking to a financial advisor may be enough to dramatically boost people’s savings rates people were 10 times more likely to open a retirement account in a month when they met with a financial advisor than in a month when they didn’t the study found and among those who already have an account the amount they are likely to save in the month they meet an advisor and the month afterward is about five times as much as the amount they are likely to save in any other month most important the study only looked at cases where an advisor initiated the contact not where the client did so it isn’t a case of people contacting advisors because they already wanted to up their savings the study took place in switzerland and involved over 20000 clients of a big swiss bank over a 10year period from 2011 to 2021 switzerland has a huge but highly concentrated financial sector where individuals get investment products from the same place they get their savings and checking accounts interestingly despite the country’s reputation for financial sophistication only about 60 of the swiss have a retirement account and only a third invest directly or indirectly in stocks due to the nature of the swiss taxadvantaged retirement system those who don’t have a retirement account are effectively missing out on free money people with different education levels did not respond differently to advice the researchers found the less educated were just as likely to raise their savings rates as the more educated and there was little if any difference between men and women if anything women were slightly more likely to raise their savings rates though the differences were slightly people who don’t think we face a retirement crisis probably haven’t seen the numbers yes it’s easy to exaggerate these things—no we don’t all need 3 million—but for each person who has saved for their retirement there are a lot of people who have saved almost nothing according to federal reserve data households in the bottom 25 of the distribution have median retirement account savings of 4700 good luck with that giving people advice cannot solve problems like low income but at any level of income the results are likely to be positive and they could hardly make the situation worse now that many states are rolling out “autoira” plans to help lower paid workers save for their retirement maybe the next step is auto advice

spotify shares fell wednesday despite the streaming platform reporting a sharp increase in users during the first quarter weakerthanexpected guidance appears to be the culprit shares of spotify were down 6 to 10376 on wednesday spotify ticker spot said monthly active users rose 19 in the quarter from a year earlier to 422 million

shares of eastman chemical co emn rose 363 to 10930 tuesday on what proved to be an allaround great trading session for the stock market with the sp 500 index spx rising 037 to 463065 and the dow jones industrial average djia rising 039 to 3605263 this was the stocks second consecutive day of gains eastman chemical co closed 2117 below its 52week high 13047 which the company reached on june 1st the stock outperformed some of its competitors tuesday as exxon mobil corp xom fell 123 to 6482 3m co mmm rose 133 to 18197 and fmc corp fmc fell 005 to 9342 trading volume 14 m eclipsed its 50day average volume of 885652 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of cummins inc cmi inched 031 higher to 23724 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 090 to 451844 and the dow jones industrial average djia rising 116 to 3547313 cummins inc closed 2804 below its 52week high 26528 which the company achieved on august 1st trading volume 646455 remained 396027 below its 50day average volume of 10 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

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gold futures finished lower on tuesday pressured by a rise in us treasury yields the yellow metal saw a modest decline while lacking any real longerterm direction said craig erlam senior market analyst at oanda this is perhaps a sign of the limbo investors find themselves in recession risks but a hot economy peace talks without any sign of peace he said still there remains plenty of appetite for a safe haven and inflation hedge june gold fell 650 or 03 to settle at 192750 an ounce

dunelm group plc said wednesday that pretax profit for fiscal 2022 rose significantly on the back of higher sales which have remained strong in the first 10 weeks of the current financial year the uk home furnishings retailer posted a pretax profit for the year ended july 2 of 2090 million pounds 2402 million compared with gbp1578 million for the prior year total sales increased to gbp155 billion from gbp134 billion a year earlier in line with guidance the companys fourthquarter sales on the other hand rose to gbp3867 million from gbp3802 million ahead of guidance for sales of gbp358 million the board has declared a dividend of 40 pence a share up from 35 pence the prior year as well as a special payout to shareholders of 37 pence a share down from 65 pence a year earlier regarding its outlook for fiscal 2023 the company said that it is on track to meet market expectations for a pretax profit of gbp178 million

shares of american express co axp slid 296 to 17865 tuesday on what proved to be an allaround dismal trading session for the stock market with the sp 500 index spx falling 281 to 417520 and dow jones industrial average djia falling 238 to 3324018 american express co closed 2090 short of its 52week high 19955 which the company reached on february 16th the stock demonstrated a mixed performance when compared to some of its competitors tuesday as visa inc cl a v fell 422 to 20110 mastercard inc ma fell 296 to 34411 and jpmorgan chase co jpm fell 296 to 12302 trading volume 37 m remained 344914 below its 50day average volume of 41 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of ebay inc ebay shed 030 to 6669 monday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 091 to 466897 and dow jones industrial average djia falling 089 to 3565095 ebay inc closed 1450 below its 52week high 8119 which the company reached on october 22nd the stock demonstrated a mixed performance when compared to some of its competitors monday as amazoncom inc amzn fell 154 to 339135 walmart inc wmt rose 180 to 14357 and costco wholesale corp cost fell 029 to 55722 trading volume 60 m remained 875868 below its 50day average volume of 68 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of virgin galactic holdings inc spce slid 510 to 391 wednesday on what proved to be an allaround poor trading session for the stock market with the nasdaq composite index comp falling 160 to 1166996 and dow jones industrial average djia falling 163 to 3203011 virgin galactic holdings inc closed 734 short of its 52week high 1125 which the company reached on march 29th the stock underperformed when compared to some of its competitors wednesday as raytheon technologies corp rtx fell 134 to 9670 and boeing co ba fell 417 to 19616 trading volume 88 m remained 20 million below its 50day average volume of 108 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

amazoncom said it closed its 845 billion acquisition of mgm as a deadliine passed for the federal trade commission to mount a challenge ftc spokeswoman lindsay kryzak declined to comment on the amazonmgm deal but said “the commission does not approve transactions and may challenge a deal at any time if it determines that it violates the law”

shares of loblaw cos ltd l inched 064 higher to c11664 tuesday in what proved to be an otherwise allaround poor trading session for the canadian market with the sptsx composite index gsptse falling 015 to 2020598 loblaw cos ltd closed c1261 below its 52week high c12925 which the company achieved on may 2nd trading volume of 353719 shares remained below its 50day average volume of 394656 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

chinese banks issued a higherthanexpected amount of new yuan loans in january as beijing moved to kickstart economic growth after nearly three years of covid restrictions new yuan loans stood at 49 trillion yuan 72264 billion in january sharply higher than the cny14 trillion of loans issued in december the peoples bank of china said friday economists polled by the wall street journal had expected new yuan loans to be cny42 trillion in january chinese banks typically issue more loans at the beginning of the year to win highvalue clients and expand market share the countrys total social financing was cny598 trillion in january according to pboc data chinas m2 the broadest measure of money supply rose 126 from a year earlier in january higher than decembers 118 increase and beating the 115 growth forecast expected by surveyed economists

medallion financial corp a company that provides financing for taxicab medallions has been charged by the us securities and exchange commission with engaging in illegal activities to improve its reputation and valuation the sec said wednesday also charged was andrew murstein medallions president and chief operating officer as well as a mediastrategy company ichabods cranium inc and its owner lawrence meyers we intend to vigorously defend against the secs unfounded charges and are confident we will be completely vindicated medallion said attorneys for mr meyers didnt immediately respond to a request a comment shares fell 39 the sec alleged that mr meyers created fake identities to place positive stories about medallion financial on thirdparty media websites mr murstein knew that mr meyers was creating the fake identities the sec charged medallion and mr murstein also fraudulently increased the carrying value of medallion bank a subsidiary by hiring a new valuation firm after a previous company declined to provide a higher valuation according to the sec the activities goal was to improve medallions share price the sec alleged the conduct in the secs charges occurred between 2014 and 2017 the commission said the sec said it is seeking permanent injunctions disgorgement plus prejudgment interest and civil penalties as well as a bar against mr mursteins serving as an officer or director

shares of palantir technologies inc pltr rallied 472 to 866 tuesday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 163 to 385911 and the dow jones industrial average djia rising 107 to 3183674 palantir technologies inc closed 1845 short of its 52week high 2711 which the company achieved on november 8th the stock outperformed some of its competitors tuesday as tyler technologies inc tyl rose 239 to 34606 cognizant technology solutions corp ctsh rose 118 to 6148 and verint systems inc vrnt rose 271 to 3482 trading volume 309 m remained 29 million below its 50day average volume of 337 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

if there’s a single stat to capture the insatiable appetite for stocks this year it’s the sum of cash that went into equity funds investors have poured almost 900 billion into equity exchangetraded and longonly funds in 2021 exceeding the combined total from the past 19 years according to analysts at bank of america corp and epfr global

shares of f5 inc ffiv inched 088 higher to 14297 tuesday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 010 to 382162 and the dow jones industrial average djia rising 028 to 3284974 the stocks rise snapped a fourday losing streak f5 inc closed 10603 short of its 52week high 24900 which the company reached on december 29th the stock outperformed some of its competitors tuesday as ceridian hcm holding inc cday fell 032 to 6294 trading volume 343960 remained 219647 below its 50day average volume of 563607 editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of xcel energy inc xel inched 041 higher to 7155 monday on what proved to be an allaround rough trading session for the stock market with the sp 500 index spx falling 295 to 420109 and dow jones industrial average djia falling 237 to 3281738 this was the stocks fourth consecutive day of gains xcel energy inc closed 139 below its 52week high 7294 which the company reached on may 11th the stock demonstrated a mixed performance when compared to some of its competitors monday as duke energy corp duk rose 137 to 10670 wec energy group inc wec rose 089 to 9545 and dte energy co dte fell 060 to 12711 trading volume 44 m eclipsed its 50day average volume of 35 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

shares of devon energy corp dvn rose 286 to 4392 monday on what proved to be an allaround positive trading session for the stock market with the sp 500 index spx rising 132 to 465527 and the dow jones industrial average djia rising 068 to 3513594 devon energy corp closed 164 below its 52week high 4556 which the company reached on november 24th the stock outperformed some of its competitors monday as bhp group ltd adr bhp rose 281 to 5596 conocophillips cop rose 094 to 7215 and eog resources inc eog rose 111 to 8839 trading volume 106 m remained 416124 below its 50day average volume of 110 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

randolph bancorp inc shares were up 25 to 2641 in premarket trade after a buyout offer from hometown financial group inc the holding company for bankesb bankhometown and abington bank under the terms of the merger agreement randolph shareholders will receive 27 in cash for each share of common stock making a total transaction value of 1465 million the companies said the merger is expected to close in the fourth quarter of 2022 as a result of the transaction randolphs envision bank will merge with and into abington bank to create a 14 billion bank with 11 fullservice retail locations the companies said envisions mortgage division also has lending centers in north attleborough mass and quincy mass as well as two mortgage offices in massachusetts and one in southern new hampshire hometown will add at least one randolph director to the hometown and abington bank boards of directors compass point raised its rating for randolph to buy from neutral and set a 27 a share target price for the stock janney montgomery scott cut its rating for randolph to neutral from buy

shares of american airlines group inc aal slid 107 to 1205 monday on what proved to be an allaround grim trading session for the stock market with the sp 500 index spx falling 075 to 361239 and dow jones industrial average djia falling 032 to 2920288 this was the stocks fourth consecutive day of losses american airlines group inc closed 1030 below its 52week high 2235 which the company achieved on november 8th the stock underperformed when compared to some of its competitors monday as southwest airlines co luv fell 066 to 3166 delta air lines inc dal rose 010 to 2942 and united airlines holdings inc ual rose 100 to 3420 trading volume 295 m remained 84469 below its 50day average volume of 296 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

peloton was already connecting millions to its unique brand of exercise when covid struck forcing gyms and studios to shutter since then the company’s rise has been meteoric as the world reopens the fitness industry faces a landscape remade by the wildly popular stationary bike alongside personalities new and old looking to take a slice of the market

shares of unitedhealth group inc unh inched 045 higher to 50653 friday on what proved to be an allaround favorable trading session for the stock market with the sp 500 index spx rising 003 to 453634 and the dow jones industrial average djia rising 001 to 3522769 this was the stocks sixth consecutive day of gains unitedhealth group inc closed 5157 below its 52week high 55810 which the company achieved on october 31st the stock outperformed some of its competitors friday as cvs health corp cvs rose 024 to 7505 elevance health inc elv rose 004 to 47593 and cigna group ci fell 015 to 29377 trading volume 29 m remained 12 million below its 50day average volume of 41 m editors note this story was autogenerated by automated insights an automation technology provider using data from dow jones and factset see our market data terms of use

dividend stocks are facing stiffer competition thanks to a big spike in bond yields a riskfree 10year treasury note was recently yielding 37 up from 163 at the start of 2021 that’s well above the sp 500 index’s dividend yield of 176 making bonds more attractive for income investors but this isn’t the time to give up on dividends as an income source a healthy payout stream can diversify income in your portfolio and with consumer price inflation running at an 83 annualized clip stocks with dividend growth can help your income stream hold up better than bonds with fixed interest