|Bid||66.59 x 900|
|Ask||67.61 x 800|
|Day's Range||66.83 - 67.93|
|52 Week Range||66.70 - 80.96|
|PE Ratio (TTM)||300.67|
|Beta (3Y Monthly)||1.08|
|Expense Ratio (net)||0.13%|
A relentless bull says it's safe to buy tech again. With Wells Fargo's Scott Wren, CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.
We're going higher and a Jonathan Golub, Credit Suisse, tells you how to play the year-end rally. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Pete Najarian, Steve Grasso and Guy Adami.
On December 13, the AAR (Association of American Railroads) released its rail freight traffic data for Week 49, which ended on December 8. The AAR compiles the weekly rail data received from 12 major US, Canadian, and Mexican railroad companies. The weekly rail traffic figures are segregated into carload traffic and intermodal units.
Year-to-date, the Industrial Select Sector SPDR (NYSEARCA:XLI) — the largest of the industrial ETFs by assets — is lower by 10.2% while the S&P 500 is down 0.75%. Many of those names are among the primary price action drivers in a slew of industrial ETFs. “Industrial stocks have been battered by trade-war worries and other headwinds in 2018, but the group doesn’t get the credit it deserves, argues UBS,” reports Barron’s.
FedEx Corporation (FDX) is scheduled to report its fiscal 2019 second-quarter results on December 18. For the second quarter, Wall Street analysts are projecting adjusted EPS of $3.96 for FedEx, implying a YoY (year-over-year) rise of 24.5%. Analysts believe that FedEx’s second-quarter results are likely to continue benefiting from its extensive delivery network and rising e-commerce sales.
General Electric (GE) stock was trading ~11% higher during today’s pre-market trading session after J.P. Morgan (JPM) analyst Stephen Tusa upgraded his rating on the stock to “neutral” from “underweight.” In a note to clients, Tusa wrote that the struggling company’s risk-reward looks to be balanced at current levels. Tusa has been bearish on GE since May 2016, raising questions about its earnings and future cash flow generation capabilities.
United Rentals (URI) shares rose 6.3% on December 12 after the company reaffirmed its guidance for 2018 and provided an optimistic outlook for 2019. The shares also got a boost from the announcement that the company will resume its share repurchase program.
Why Has General Electric Stock Struggled in 2018? Once General Electric’s (GE) main growth engine, the Power segment is struggling to cope with changing industry dynamics. The growing demand for renewables and energy efficiency has eroded the demand for fossil fuel–based power plants.
Canadian National Railway (CNI) reported 1.4% YoY total traffic volume growth in week 48. It moved 118,828 carloads compared to 117,201 units in week 48 of 2017. It ranked fourth in terms of week 46 traffic volume growth among all class I railroads. Union Pacific (UNP) was the highest gainer in the week with a YoY increase of 5.2% in total rail traffic. CSX (CSX) and Canadian Pacific Railway (CP) were in second and third places with both gaining 1.5% each. In absolute terms, CSX’s volume growth was higher than Canadian Pacific’s.
Moody's Investors Service cut its outlook for the global manufacturing industry to stable from positive, saying trade tensions will still hurt demand this year while earnings for the sector decreases because of higher input costs, despite the U.S.-China trade-war truce. Moody's also cut its forecast for year-over-year earnings before interest, taxes, depreciation and amortization (EBITDA) growth to 2.7% from 4.3% in 2018 and to 4% from 5.7% in 2019. "Despite the US and China's truce on tariffs until March 2019, potential tariffs on each other's goods after that point are likely to have a more prominent impact on supply chains just as they contend with tight labor markets and higher transportation costs," Moody's David Berge wrote in a research note. "Generally, protectionist trade measures will contribute to slowing global economic growth." Earlier Monday, PPG Industries Inc. said it will raise prices on all industrial coatings by 10% given "unprecedented cost pressures" in raw materials, freight, energy and labor. The SPDR Industrial Select Sector ETF was up 1.1% in afternoon trade, but pared earlier gains of as much as 2.6%. The ETF has lost 4.8% over the past three months, while the Dow Jones Industrial Average has slipped 0.8%.
Boeing (BA) has a consensus rating of ~1.92 from analysts polled by Reuters. There has been an upward shift in analysts’ recommendations for Boeing since it released its third-quarter earnings results and upbeat guidance. About 76% of analysts have provided bullish recommendations on Boeing stock.
In week 47, Canadian National Railway (CNI) reported 7.3% YoY total traffic volume growth. The company moved 115,280 railcars—compared to 107,471 units in week 47 of 2017. Canadian National Railway was first in terms of traffic volume growth among all of the Class I railroads in week 47. Union Pacific (UNP), Norfolk Southern (NSC), and Kansas City Southern (KSU) were in second, third, and fourth with 5.9%, 4.4%, and 3.9% gains, respectively.
On November 28, the AAR (Association of American Railroads) released its rail freight traffic data for week 47, which ended on November 24. The AAR receives weekly rail data from 12 major US, Canadian, and Mexican railroad companies. The weekly rail traffic figures are divided into intermodal units and carload traffic.
On October 31, the short interest figures showed that Stanley Black & Decker’s (SWK) short interest fell marginally compared to the previous report. The short interest continues to be on the higher side, which indicates that the negative sentiments towards the stock have increased. As of October 31, Stanley Black & Decker’s short interest as a percentage of its outstanding shares was 2.4%—compared to 2.42% in the previous report.
Kansas City Southern’s (KSU) rail traffic volume declined 6.7% YoY to 44,382 units mainly due to a decrease in carload and intermodal traffic. Kansas City Southern’s rail traffic decline in week 46 was in contrast to the 0.04% gain registered by US railroad companies.
In week 46, Canadian National Railway (CNI) reported 3% YoY total traffic volume growth. It moved 117,649 railcars compared to 114,233 units in week 46 of 2017.
In week 46, Canadian Pacific Railway (CP) reported 10% YoY total traffic volume growth. It moved 54,611 railcars compared to 49,628 units in week 46 of 2017. The company ranked first in terms of week 46 traffic volume growth among all class I railroads. Its prime competitor, Canadian National Railway (CNI), had the second highest gains in rail traffic during the week. Union Pacific (UNP) and CSX (CSX) were in third and fourth places with 2% and 1.3% gains, respectively.
On November 21, the AAR (Association of American Railroads) released its rail freight traffic data for week 46, which ended on November 17. The AAR receives weekly rail data from 12 major US, Canadian, and Mexican railroad companies. The weekly rail figures are divided into intermodal units and carload traffic. Intermodal units are further segregated in containers and truck trailers.
In a press release on November 13, 3M (MMM) announced the key dates for the fourth-quarter dividend. Investors who hold 3M stock as of the close on November 23 in the company’s record will be eligible for the dividend. The dividend will be paid on outstanding common shares. According to 3M, the company has ~582.28 million outstanding shares. Assuming that no share buyback takes place, 3M would be paying $791.90 million in the form of dividends. 3M is expected to pay the dividend on December 12.
The Boeing Company (BA) has a consensus rating of ~1.92 from analysts polled by Thomson Reuters (TRI). There’s a consensus “buy” rating on the stock. There has been an upward shift in analysts’ recommendations for Boeing since its third-quarter earnings results and upbeat guidance.
Shares of Deere & Co. dropped 2.7% in premarket trade Wednesday, after the machinery maker reported a fiscal fourth-quarter profit and revenue that missed expectations. Net income for the quarter to Oct. 28 rose to $784.8 million, or $2.42 a share, from $510.3 million, or $1.57 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $2.30, below the FactSet consensus of $2.44. Total increased 17% to $9.42 billion, below the FactSet consensus of $9.59 billion, as 3% growth in agriculture and turf sales to $5.61 billion missed the FactSet consensus of $5.71 billion and the 65% increase in construction and forestry sales to $2.74 billion was below expectations of $2.79 billion. For fiscal 2019, Deere expects agriculture and turf sales to rise about 3%, while the current FactSet consensus of $25.01 billion implies a 7.8% increase; the company expects construction and forestry sales to rise 15%, while current expectations of $10.57 billion implies 4.0% growth. Deere's stock has shed 3.7% over the past three months, while the SPDR Industrial Select Sector ETF has lost 10.3% and the S&P 500 has declined 7.7%.
Yesterday, General Electric (GE) announced a leadership shuffle to help turn around its ailing power business. The management shuffle includes bringing back veteran GE executive John Rice from retirement to be the chair of the newly structured gas power business. Apart from bringing back Rice, Culp made Scott Strazik CEO of GE Gas Power.
General Electric (GE) shareholders got a break on November 19. Steven Winoker, an analyst at UBS Group (UBS), reiterated his “buy” rating on General Electric with a target price of $13. Winoker thinks that with General Electric’s ongoing restructuring initiatives, the company will be able to reduce its debt by an acceptable level by 2020.