Stocks to invest in
1. U.S. Stock Market:
“U.S. equities traded mixed on Friday as investors shrugged off weak economic data and digested key corporate earnings. The Dow Jones industrial average slipped about 30 points after opening marginally higher, with Intel contributing the most losses. The S&P 500 chopped around the flatline, with real estate leading decliners. The Nasdaq composite hit a fresh record high before holding marginally higher.”
“U.S. stocks struggled for altitude early Friday, but the Nasdaq touched a fresh intraday record, as investors took a cautious stance ahead of the weekend marking President Donald Trump’s 100th day in office on Saturday, with the threat of a government shutdown looming. The Nasdaq Composite Index COMP, +0.05% rose 9 points, or 0.1%, to 6,064, briefly touching an intraday high at 6,074.04. The S&P 500 index SPX, -0.09% was off by less than a point at 2,388 with six of the 11 main sectors trading lower. The Dow Jones Industrial Average DJIA, -0.09% dipped 17 points, to 20,965, but is up 2% for the week and set to end the month with a 1.5% gain.”
2. U.S. Bond Market:
“U.S. government debt prices fell on Friday as investors digested key economic data. The yield on the benchmark 10-year Treasury note rose 4 basis points to 2.331 percent, while the yield on the 30-year Treasury bond was higher at 2.995 percent. Yields move inversely to prices. “
“The U.S. Treasuries lost ahead of Federal Open Market Committee (FOMC) member Lael Brainard’s speech, scheduled to be held later in the day. The yield on the benchmark 10-year Treasury rose 1 basis point to 2.31 pct, the super-long 30-year bond yields jumped 1-1/2 basis points to 2.98 pct while the yield on short-term 2-year note also traded close to 1 basis point higher at 1.26 pct.”
“The US Treasury market is under pressure following the advanced release of first quarter GDP. The US economy grew at an annualized rate of 0.7%, missing economist expectations of 1% growth. A deeper look into the numbers shows the employment cost index rose 0.8%, its fastest pace since the first quarter of 2008, and core PCE climbed at a 2.0% clip. Here’s a look at the scoreboard as of 8:46 a.m. ET. 2-year +2 bps @ 1.278%. 3-year +2.7 bps @ 1.465%. 5-year +3bps @ 1.852%. 7-year +3bps @ 2.135%. 10-year +3bps @ 2.324%. 30-year +2.5bps @ 2.990%. Selling has yields across the curve up between 2 and 3 basis points, and approaching their highest levels in three weeks.”
3. FX Markets:
“The dollar advanced against the yen on Friday while paring an earlier decline against the euro after preliminary data showed a modest expansion in U.S. economic growth during the first quarter. The dollar USDJPY, +0.30% climbed 0.3% to 111.55 yen in recent trade, while the euro EURUSD, +0.3495% pared an earlier drop, buying $1.0926 in recent trade. The greenback traded at 111.26 yen and $1.0874 late Thursday in New York. The U.S. GDP expanded by 0.7% in the first quarter, just slightly below a consensus forecast of 0.8% from a survey of economists conducted by MarketWatch.”
“As for the rest of the world, here’s the scoreboard as of 8:01 a.m. ET: The euro is up by 0.6% at 1.0934 against the dollar after eurozone CPI came in at 1.9% year-over-year in April, above expectations of 1.8%, and above the prior reading of 1.5%. The British pound is up by 0.3% at 1.2940 against the dollar after data released by the Office for National Statistics suggests the Brexit slowdown has arrived. The UK’s economy grew by 0.3% in the first quarter, the slowest growth since the first quarter of 2016. The drop off was largely driven by the services sector, the economy’s largest driver of growth. The US dollar index is down by 0.3% at 98.78 ahead of a bunch of data. The Employment Cost Index, GDP, and core PCE will all be released at 8:30 a.m. ET before Chicago PMI and University of Michigan consumer confidence cross the wires at 9:45 a.m. ET and 10 a.m. ET. The Japanese yen is down by 0.2% at 111.44 per dollar.”
“Oil prices struggled to rebound Friday on the heels of a fresh slide to one-month settlement lows, with investors keeping a close eye on U.S. rig-count data due later. Light, sweet crude on the New York Mercantile Exchange CLM7, +0.96% rose 27 cents, or 0.5%, to $49.23 a barrel in the Globex electronic session after falling 1.3% a day earlier. West Texas Intermediate crude had finished at its lowest level in roughly a month, amid growing concerns over rising U.S. production and the restart of Libya’s biggest oil field. June Brent on London’s ICE Futures exchange LCOM7, +0.58% was recently up 8 cents, or 1.2%, to $52.05 a barrel.”
“Gold rose on Friday as forecast-beating euro zone inflation boosted the euro against the dollar, while global stock markets retreated from Wednesday’s record highs as concerns about global trade subdued appetite for cyclical assets. The metal remains on track for its biggest weekly drop in seven, however, after appetite for nominally higher-risk assets sharpened early in the week at gold’s expense. Spot gold was up 0.3 percent at $1,267.61 an ounce by 1153 GMT, while U.S. gold futures for June delivery were up $3.30 at $1,269.20. Spot gold was down 1.3 percent from last Friday’s level, its biggest weekly loss since early March.”
5. Market Movers:
Sarepta Therapeutics Inc (NASDAQ:SRPT) reported a larger-than-expected loss but much better sales this morning, which had given its shares a small boost in pre-open trading. Speculation that Sarepta could be taken over, however, have caused its shares to skyrocket. Sarepta reported a loss of 60 cents a share, missing analyst expectations for 60 cents a share, but sales of $16.3 million easily surpassed the Street consensus for $13.9 million. Instinet’s Christopher Marai and team call it a “strong quarter” but see “more to come.
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Cameco Corp (USA) (NYSE:CCJ), the world’s second-biggest uranium producer, posted a bigger-than-expected quarterly loss, partly hurt by the termination of a key sales contract, driving shares to a nearly five-month low. The stock fell more than 9 percent in Toronto trading to C$12.92, even though Cameco maintained its full-year guidance for deliveries and revenue. Tokyo Electric Power (Tepco), the operator of Japan’s wrecked Fukushima nuclear plant, scrapped its uranium supply contract with Cameco, the company said in February. The Canadian company said its loss was also related to weak uranium prices amid a prolonged glut, tracing back to the 2011 tsunami in Japan which shut all of that country’s nuclear reactors. A few have since restarted.
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On Thursday, Shares of GoPro Inc (NASDAQ:GPRO) lost -2.19% to $8.94. The share price is trading in a range of $8.91 – 9.36. The stock exchanged hands with 7.89 million shares contrast to its average daily volume of 3.16 million shares. GoPro, Inc. (GPRO) declared financial results for its first quarter ended March 31, 2017. Recent GoPro Highlights: According to The NPD Group’s Retail Tracking Service, in the U.S. in the first quarter GoPro accounted for 3 of the top 5 products, counting the top 3 spots, on a unit basis in the digital image category. HERO5 Black was the best-selling digital image camera in the U.S. in the first quarter on a unit and dollar basis. According to NPD, in March GoPro’s drone, Karma with HERO5 camera, was the #2 best-selling drone priced over $1,000 in the U.S. on a unit basis.
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Starbucks Corporation (NASDAQ:SBUX) trades lower after the company’s light report on comparable sales creates some anxiety, however several analysts are turning their focus on the late quarter momentum cited by SBUX management. Shares are down off their all-time high of $61.94 printed yesterday. Bernstein stick with an Outperform rating on Starbucks and bumps its price target to $67 on its view menu innovation is working. Wells Fargo says the long-term bull thesis is very much intact, and notes that 350 underperforming stores out of a base of 26K hit FQ2 results. Starbucks is in a review process on the Teavana mall-based stores that created the drag.
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In Technology sector, shares of Cerner Corporation (NASDAQ:CERN) were valued at $60.06 and moved 0.89% as of a recent closing trade. A total volume of 4.45 million shares were traded versus to average volume of 2.72 million shares. Cerner Corporation (CERN) shares have been seen trading -11.02% off its 52 week- peak value and changed 27.76% from its 52 week-bottom price value. The “percentage off the 52-week high or low” refers to when a stock current price is relative to where it has traded over the last 52 weeks. This gives investors an idea of how much the security has moved in the last year and whether it is trading near the top, middle or bottom of the range.
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Weatherford International Plc (NYSE:WFT) stock price tumbled -2.09% to finalize at $5.62 throughout previous buying and selling session. A total of 35.53 million shares exchanged at hands and its average trading volume is standing at 22.89 million shares. Important factors to focus when evaluating a stock’s present and future value are the 52 week price high and low levels. Shares of Weatherford International plc (WFT) are trading -33.80% downward from the 52-week high mark and 50.67% above from the fifty two-week low mark. Taking a glance at past performance, we will examine different up or down moving trends about WFT. The stock dropped -1.58% beyond one week and declined -13.54% during previous one month session.
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The stock of Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) is a huge mover today! About 2.82M shares traded or 411.80% up from the average. Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) has declined 40.55% since September 21, 2016 and is downtrending. It has underperformed by 50.98% the S&P500.The move comes after 8 months positive chart setup for the $26.06M company. It was reported on Apr, 28 by Barchart.com. We have $3.39 PT which if reached, will make NASDAQ:PRAN worth $1.56 million more. Ellsworth Growth and Income Fund Ltd. operates as a closed-end, diversified management investment company. The company has market cap of $116.93 million.
Cypress Semiconductor Corporation (NASDAQ:CY) announced its first quarter 2017 results. GAAP and non-GAAP margins for the first quarter of 2017 were 37.4% and 39.3%, respectively, above the midpoint of guidance and in line with the Company’s margin-enhancing initiatives. Cypress Semiconductor Corporation (NASDAQ:CY) shares advanced 3.00% to $14.40 on Thursday. Cypress paid a dividend of $36.2 million, or $0.11 per share, to holders of record of the Company’s common stock as of the close of business on March 30, 2017. The dividend was equivalent to a 3.2% annualized yield as of March 31, 2017.
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Synchrony Financial (NYSE:SYF) traded at a yearly high level of $38.06 during the last trading session. The last session’s volume of 7.14 million shares was higher than its average volume of 6.30 million shares. The stock, after opening at $33.44, closed at $33.05 by scoring -0.57%. The total market capitalization remained at $26.33 billion. Synchrony Financial (NYSE:SYF) have shown a high EPS growth of 3.50% in the last 5 years and has earnings growth of 7.00% yoy. Analysts have a mean recommendation of 1.70 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range). The stock appeared -12.84% below its 52-week highs and is down -2.36% for the last five trades.
(Wall Street News24)
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– Stocks to invest in