Daily comment Nov 19
- Wall St opens higher on tech stocks advance
- Chipmakers unveiled their new AI GPUs
- HD -3.4%, KSS-16% on disappointing 3Q results
- BABA +0.7% on strong HK offering subscription
- TSLA +0.2% on battery project
- AVGO +3.6% on rating upgrade
- WTI -1.8%
- Nvidia (-0.6%), AMD (+1.0%) and Intel (+0.5%) all announced their new AI chips at the annual super-computing conference. (https://on.mktw.net/340Z3Nz)
- Home Depot (-3.4%): The Co. reported 3Q EPS miss, slashed guidance. Rev. +3.5% y/y $27.22bn vs est. $27.5. Comps +3.6% y/y vs est. +4.7%. Adj. EPS +0.84% y/y to $2.53 vs est. $2.52. Sees FY rev. +1.8% vs prior +2.3%. (https://thd.co/2KB13EW)
- Kohl’s (-16%): The Co. reported miss on 3Q comps, cut 4Q outlook. Rev. was flat y/y at $4.35bn vs est. $4.39bn. Comps +0.4% y/y vs est. +0.8%. Adj. EPS -25% y/y to $0.74 vs est. $0.86. Sees FY EPS of $4.75-$4.95 vs prior $5.15-$5.45. (https://cnb.cx/35f6K2V)
- Alibaba (+0.7%): BABA’ $13bn Hong Kong shares offering already multiple times subscribed. (https://on.wsj.com/2XsqTQn)
- Disney (-0.5%): Several reports suggest hackers have stolen thousands of Disney+ accounts. (https://cnb.cx/2QEe7ge)
- Tesla (+0.2%): The Co. would expand capacity of the world’s biggest lithium-ion battery in Australia. (https://bloom.bg/2Oopwy8)
- Broadcom (+3.6%): Morgan Stanley upgraded security rating to “overweight” raising PT from $298 to $367 (15.4% upside). (https://cnb.cx/2r20ay5)
- President Trump said he “protested” high interest rates during the meeting with Fed Chairman Powell at the White House this morning. (https://bloom.bg/2rUkmlP)
- The US housing starts in Oct +3.8% m/m to 1314k vs est. 1320k. Building permits +5% m/m to 1461k, the highest in 12 years. (https://cnb.cx/2KBEwaM)
- WTI (-1.8%): US crude stockpiles probably increased 1.5mn bls last week: Bloomberg survey.
- US shale output will climb by 49k bpd to 9.13mn bpd in December: EIA.
- On Thu (11/21): Tesla unveils its “cyber-punk” pick-up at the event in LA.