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Which sectors stand to win or lose as inflation creeps up

  • Which sectors stand to win or lose as inflation creeps up Which sectors stand to win or lose as inflation creeps up 3:50
    Tool Talk & New Tech With Stanley Black & Decker Tool Talk & New Tech With Stanley Black & Decker 3:46
    The 100th MarketBrief The 100th MarketBrief 10:46
    WSJ Opinion: The Economy Revives, but So Does Inflation WSJ Opinion: The Economy Revives, but So Does Inflation 6:44
3:00 a.m. Today - By MarketWatch
Which sectors stand to win or lose as inflation creeps upRising inflation expectations have rattled markets lately. Here's what investors need to know.
6:44 a.m. May 17, 2021 - Barrons.com
Tool Talk & New Tech With Stanley Black & DeckerJim Loree, Stanley Black & Decker's CEO, speaks with Jack Hough on the Streetwise podcast about working through the challenges of 2020, confronting inflation in 2021 and ongoing demand for home improvement products.
5:19 a.m. May 17, 2021 - By Quentin Fottrell
Americans are finally getting ready to splurge — here’s what they’re buying Exhaling after more than a year of pandemic-related restrictions, consumer confidence is on the riseExhaling after more than a year of pandemic-related restrictions, consumer confidence is on the rise.
4:05 a.m. May 17, 2021 - Barrons.com
The 100th MarketBriefSarah Levy, CEO of Betterment, discusses retail investing, Bitcoin and the future of fintech. Additionally, Liz Ann Sonders, chief investment strategist for Charles Schwab, on mounting inflation fears. Plus, Barron's Carleton English previews major retail earnings.
12:04 p.m. May 14, 2021 - By William Watts
Dow ends 360 points higher as stocks trim weekly declineStocks ended with strong gains Friday, building on the previous session's bounce as major benchmarks trimmed weekly losses. The Dow Jones Industrial Average rose around 361 points, or 1.1%, to end near 34,382, according to preliminary figures. The S&P 500 finished around 61 points higher, up 1.5%, near 4,174, while the Nasdaq Composite rallied around 305 points, or 2.3%, to close near 13,430. Friday's gains were broad based, with tech-related shares rising alongside stocks tied more closely to the economic reopening. Equities slumped earlier in the week and tumbled hard on Wednesday after data showed a hotter-than-expected rise in the April consumer price index. The bounce left the Dow with a weekly loss of 1.1%, while the S&P 500 stumbled 1.4% and the Nasdaq declined 2.3%.
12:03 p.m. May 13, 2021 - By William Watts
Dow ends more than 430 points higher as stocks take back a chunk of Wednesday's routStocks bounced back Thursday to end sharply higher, taking back a chunk of the losses suffered in the previous session. The Dow Jones Industrial Average rose around 433 points, or 1.3% to close near 34,021, according to preliminary figures. The S&P 500 advanced around 49 points, or 1.2%, to around 4,112, while the Nasdaq Composite gained around 93 points, or 0.7%, to finish near 13,125. Stocks tumbled on Wednesday after a hotter-than-expected April rise in the consumer-price index. Rate-sensitive tech and growth stocks led the early rebound for equities as Treasury yields pulled back, but more cyclically sensitive sectors moved into the lead, with financials and industrials, both up 1.9%, the top gainers among S&P 500 sectors.
5:35 a.m. May 13, 2021 - By Mark Decambre
U.S. stock market opens higher, aims to snap 3-session skid U.S. stocks on Thursday opened higher Thursday, with tech shares rising in as dip buyers look for a bounce to halt a three-session slide, a day after hot inflation data sent the Dow Jones Industrial Average down for a third day to its biggest one-day loss since January. The Dow rose 140 points, or 0.4%, to 33,723, the S&P 500 index climbed 0.7% to 4,090, while the Nasdaq Composite Index added 1.1% early Thursday. The moves come as investors took another round of U.S. inflation data in stride, after April producer price index jumped 0.6%, far above forecasts for a 0.3% rise. Year over year, wholesale inflation rose 6.2% versus a 4.2% rise in March. Concerns about inflation have moved front and center for investors after data on Wednesday showed prices at the consumer level saw the biggest monthly rise since 2009 and the largest year-over-year increase since 2008.
12:14 p.m. May 12, 2021 - By Mark Decambre
Dow tumbles nearly 700 points for worst day in 6 months as inflation worries spark stock-market routThe U.S. stock market on Wednesday finished sharply lower for a third straight session, with the declines on the session driving the Dow and S&P 500 perilously close to a breach below of their short-term trend lines for the first time since March amid a selloff that was at least partly fueled by a reading on inflation that came in at the highest rate in about 13 years. The April CPI report reignited fears that the Federal Reserve may need to dial back its easy money policies earlier than expected. The S&P 500 index closed down 2.2% at 4,063, putting the broad-market index near its 50-day moving average at 4,049.95, a trend line it hasn't breached since March 25, according to FactSet data. It was the third straight drop for the index and its worst day since Feb. 25. The Dow Jones Indusrial Average closed 681.50 points, or 2%, lower to 33,588, approaching its 50-day moving average at 33,318.84, which it hasn't fallen below since early March. It was the blue-chip gauges worst day since Oct. 28, when it fell 943 points or 3.4%. The Nasdaq Composite Index , meanwhile, ended down 2.7% to 13,031, deepening its slide beneath its 50-day moving average. The U.S. consumer-price index rose 4.2% from a year ago, compared with average economists' estimates surveyed by Econoday for a 3.6% increase. The month-over-month rise was 0.8%, versus a forecast for a rise of 0.2%. Overall, the rise was the fastest rate of climb since September 2008.
9:37 a.m. May 12, 2021 - By Myra P. Saefong
Gold futures finish lower after data show a jump in U.S. inflationGold futures on Wednesday after revealed a jump in April to the highest level in nearly 13 years. The Consumer Price Index data led to "a very fast sell reaction in gold market along with anticipation the [Federal Reserve] will have to do something to stem inflation tide in near term as part of their mandate for price stability along with full employment," said Jeff Wright, chief investment officer at Wolfpack Capital. June gold fell $13.30, or 0.7%, to settle at $1,822.80 an ounce. Prices fell by nearly 0.1% on Tuesday, but ended Monday at the highest since Feb. 10.
8:08 a.m. May 12, 2021 - By Tomi Kilgore
Global-e stock opens below IPO price, then bounces back above itGlobal-e Online Ltd. received a less-than-enthusiastic reception on its public debut, as the direct-to-consumer, cross-border ecommerce platform company's stock opened 3% below its initial public offering price before trading higher, on a big down day for the broader market. The stock's first trade was at $24.25 at 11:56 a.m. Eastern for 1.7 million shares. The , which was at the top of the expected range of between $23 and $25 a share, as the company raised $375.0 million. At the stock's first trade, the company was valued at $3.45 billion. The stock has bounced above the IPO price since the open, as it was recently trading up 1.2% at $25.29. The company went public on a day that the Renaissance IPO ETF dropped 3.7% and the S&P 500 sank 1.5%.
5:38 a.m. May 12, 2021 - By William Watts
Stocks fall in early trade after stronger-than-expected inflation dataStocks opened lower Wednesday, with the tech-heavy Nasdaq Composite leading major benchmarks to the downside after data showed a stronger-than-expected jump in the April consumer-price index. The Dow Jones Industrial Average dropped 79 points, or 0.2%, to 34,190, while the S&P 500 fell 0.5% to 4,130. The Nasdaq dropped 1% to 13,244. April CPI rose 0.8% to match the biggest monthly increase since 2009, the government said. Economists had expected a reading of 0.2%. The rate of inflation over the past year jumped to 4.2% from 2.6% in the prior month - the highest level since 2008.
2:56 a.m. May 12, 2021 - By Tomi Kilgore
TransUnion boosts dividend by 27%TransUnion said Wednesday its quarterly dividend has been raised by 27%, to 9.5 cents a share from 7.5 cents. The information and insights company's new dividend will be payable June 10 to shareholders of record on May 26. Based on Tuesday's stock closing price $104.83, the new annual dividend rate implies a dividend yield of 0.36%, compared with the implied yield for the S&P 500 of 1.41%. TransUnion's stock, which was still inactive in premarket trading, has gained 5.7% year to date, while the S&P 500 has advanced 10.5%.
4:44 a.m. May 10, 2021 - Barrons.com
The Rising Cost of FoodAs inflation fears grow, Jordan Gaspar, president of AF Ventures, discusses the potential impact on small businesses. Plus, BlackRock's Michael Fredericks makes the bull case for stocks and investor Patrick O'Shaughnessy offers guidance when it comes to higher taxes.
4:41 a.m. May 7, 2021 - By Ciara Linnane
Tilray shares soar 10% premarket after Jefferies upgrades to buy, says Aphria merger 'the perfect match'Jefferies upgraded shares of the new Tilray Inc. to buy from underperform on Friday, and said the recent merger of the company with rival Aphria Inc. was "the perfect match." Analyst Owen Bennett raised his price target to $23 from $4.77. "In Canada, a leading portfolio of brands, supported (by) an efficient cost structure," the analyst wrote in a note to clients. "In Europe, the market is now picking up, while Tilray's scale and Aphria's unique German positioning make it perfectly suited to succeed. And in the US, the combined company's broader consumer goods portfolio and strong balance sheet supports excellent optionality around both US THC and CBD." Bennett is expected pro-forma fiscal 2020 to fiscal 2024 combined sales growing 33% to leave fiscal 2024 sales at $1.7 billion, compared with average major Canadian licensed producers of $482 million and major U.S. multi-state operators of $1.6 billion. Tilray shares were up 10% premarket and have gained 71% in the year to date, while the Cannabis ETF has gained 36% and the S&P 500 has gained 11.9%.
8:00 a.m. May 5, 2021 - By Tonya Garcia
Honest Co. shares soar more than 35% as trading beginsShares of Honest Co. Inc. soared 35% out of the gate, after indicating a Nasdaq debut well ahead of the . The Los Angeles-based "clean" baby, beauty and household goods company opened at $21.22 at 11:41 a.m. ET, or 32.6% above the IPO price, then extended gains. At the opening price, the company was valued at $1.92 billion. The Renaissance IPO ETF has fallen 7.8% for the year to date, while the benchmark S&P 500 index is up 11.4% for the period.
3:16 a.m. May 4, 2021 - By Ciara Linnane
Global Payments to acquire property management software provider Zego for $925 million in cashGlobal Payments Inc. said Tuesday it has agreed to acquire Zego, a provider of resident experience management software for property managers, in an all-cash deal valued at $925 million, including a tax asset. The purchase price is $830 million, net of the tax asset. The deal is expected to close by the end of the second quarter and will be financed using an existing credit facility and cash on hand. "The transaction extends Global Payments' leadership in software into the real estate vertical, a $6.5 billion target addressable market with a strong payments nexus and significant secular tailwinds," Global Payments said in a statement. Zego serves more than 7,000 property management customers in the U.S. representing more than 11 million residential units, and facilitates about $30 billion in payments a year. Global Payments shares rose 1.2% premarket, but are down 1.4% in the year through Monday, while the S&P 500 has gained 11.6%.
7:09 a.m. April 30, 2021 - By Tomi Kilgore
Colgate-Palmolive sales beat supported by price increases of double the inflation rateShares of Colgate-Palmolive Co. surged 1.6% in morning trading Friday, on the heels of the oral, personal and home care company's , in which profit and sales beat expectations. Total sales rose 6.0%, while the cost of sales grew 4.6%. On the post-earnings conference call with analysts, Chief Executive Noel Wallace said the company was "battling the cost inflation across the board," according to a FactSet transcript, and he didn't expect those headwinds to abate any time soon. He said pricing was an important element of growth, as is cost management. Overall pricing increased 4.5%, including a rise of 5.5% in North America. In comparison, the rose 0.5% in March, which pushed headline inflation up 2.3% over the past year. The stock has lost 5.2% year to date, while the SPDR Consumer Staples Select Sector ETF has edged up 3.0% and the S&P 500 has gained 11.4%.
4:30 a.m. April 26, 2021 - By Tomi Kilgore
Casper Sleep's stock surges after Wedbush analyst turns bullish for the first timeShares of Casper Sleep Inc. sprang 9.0% higher in premarket trading Monday, after the Wedbush analyst Seth Basham turned bullish for the first time on the mattress-in-a-box company, citing "attractive" valuation and a clear and balanced path forward between revenue growth and profitability. Basham raised his rating to outperform, after being at neutral since he started covering Casper in February 2020, after the stock went public earlier that month. He lifted his stock price target to $10.50 from $10.00. "[Casper Sleep] is in the early stages of capturing market share with its comprehensive focus on sleep and wellness, and its strong brand recognition and broadening product lines and distribution partners gives it the ability to convert more shoppers to customers," Basham wrote in a note to clients. Of the nine analysts surveyed by FactSet, 6 now have the equivalent of buy ratings, one is at sell and two are at hold. The stock had tumbled 33.7% since closing at a one-year high of $10.62 on Feb. 17 through Friday, but was still up 14.5% year to date, while the S&P 500 has gained 11.3% this year.
2:59 a.m. April 26, 2021 - By Tomi Kilgore
Honest Co. sets IPO terms, as company founded by Jessica Alba could be valued at up to $1.5 billionThe Honest Company Inc. has set terms of its initial public offering, in which could be valued at up to $1.54 billion. The company disclosed Monday that the IPO is expected to price between $14 and $17 a share. A total of 25.81 million shares are being offered in the IPO, with the company offering 6.45 million shares to raise up to $109.7 million and selling shareholders offering 19.36 million shares to raise up to $329.0 million. The company expects to have 90.52 million shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "HNST." Morgan Stanley, J.P. Morgan and Jefferies are the lead underwriters. Honest Co. is looking to go public at a time that the Renaissance IPO ETF has slipped 7.4% over the past three months while the S&P 500 has gained 8.6%.
8:10 a.m. April 23, 2021 - By Tomi Kilgore
Latham stock opens to investor cheers, valuing home swimming pool company at nearly $3 billionInvestors cheered Latham Group Inc.'s Wall Street debut, as in-ground residential swimming pool company's stock opened 30% above its initial public offering price. The good reception may have come as a surprise to some, as , which was at the bottom of the expected range of between $19 and $21 a share. The first trade was at $24.70 at 11:53 a.m. Eastern for 1.9 million shares, which valued Latham at about $2.97 billion. The company sold 20 million shares in the IPO to raise $380 million. The stock has pared some gains since the open, as it recently traded up at 28.7% at $24.40. The company went public on a day that the Renaissance IPO ETF rose 1.8% and the S&P 500 gained 1.0%.
6:07 a.m. April 22, 2021 - By Jacob Passy
Existing-home sales fall for second consecutive month as house prices surge to record levelsExisting-home sales declined in March, reflecting the challenges buyers continue to face in the competitive real-estate market. Existing home-sales fell 3.7% to a seasonally-adjusted, annual rate of 6.01 million in March, the National Association of Realtors . Compared with a year ago, home sales were up more than 12%. Home prices hit a high of $329,100, reflecting a record pace of price growth at 17.2% from last year.
10:58 a.m. April 21, 2021 - By Tomi Kilgore
AutoZone pulls back from record after BofA analyst turns bearish, citing lack of DIFM exposureShares of AutoZone Inc. fell 1.2% in afternoon trading Wednesday, to pull back from the previous session's record close, after BofA Securities analyst Elizabeth Suzuki turned bearish, saying it's "time to hit the brakes" on the auto parts seller. Suzuki cut her rating to underperform from neutral, while maintaining her $1,390 stock price target, which is 7.1% below current levels. "Auto parts retail spending has been tracking above expectations as discussed in our recent report, but we believe that this is now more than priced in to [AutoZone] shares," Suzuki wrote in a note to clients. The stock, which closed Tuesday at a record $1,514.11, has rallied 26.2% year to date, while the SPDR Consumer Discretionary Select Sector ETF , of which AutoZone is a component, has gained 10.2% and the S&P 500 has advanced 10.8%. Suzuki added that AutoZone's customer mix is comprised of about 80% do-it-yourselfers (DIYers) and 20% do-it-for-me (DIFM) shops, "which also means that [AutoZone] has the lowest relative exposure to the now-recovering professional repair channel."
3:10 a.m. April 19, 2021 - By Ciara Linnane
Herman Miller and Knoll to combine in deal valued at $1.8 billion, create leader in office and home designHerman Miller Inc. and Knoll Inc. said Monday they have agreed to combine in a cash-and-stock deal valued at $1.8 billion that will create a leader in modern design for the home and office. Under the terms of the deal, Knoll shareholders will receive $11 in cash and 0.32 shares of Hermann Miller for each share owned, equal to a premium of 45% over Knoll's closing price on Friday. Once the deal closes, Herman Miller shareholders will own about 78% of the combined entity, while Knoll shareholders will hold abut 22%. The deal is expected to close by the end of the third quarter. As part of the deal, Herman Miller will purchase all of Knoll's outstanding preferred stock from Investindustrial VII L.P. for a fixed cash consideration of $253 million, or $25.06 per each underlying share. "This highly complementary combination will create the preeminent leader in modern design, catalyzing the transformation of the home and office sectors at a time of unprecedented disruption," the companies said in a joint statement. Herman Miller and Knoll have 19 leading brands, a presence in more than 100 countries, a global dealer network, 64 showrooms around the world, more than 50 retail locations and a strong e-commerce network. The combined company will have pro forma annual revenue of about $3.6 billion. The deal is expected to boost Herman Miller's cash earnings per share in the first 12 months after close. Knoll shares soared 27% premarket on the news, while Herman Miller shares slid 2.7%.
4:27 a.m. April 16, 2021 - By Emily Bary
Affirm stock could head higher amid 'hypergrowth' of buy-now-pay-later offerings, analyst says in upgradeShares of Affirm Holdings Inc. are up 2% in premarket trading Friday after Seaport Global analyst Chris Brendler upgraded the stock to buy from neutral and set an $80 price target. He sees the stock as more attractive following a 34% selloff since he initiated coverage of the company 10 weeks back, whereas the S&P 500 has gained 7% in that time. "In our view, this underperformance comes despite increasing evidence that BNPL [buy-now-pay-later] is going to be huge in the US and based on a string of encouraging data points, we expect Affirm to materially exceed near-term expectations," Brendler wrote in a note to clients. The company offers financial options that let consumers pay in installments, and this trend seems to be reaching a "hyper growth adoption phase in the U.S.," Brendler continued, which could set Affirm up for success. "We also want to be in front of Affirm's Shopify partnership which has the potential to significantly accelerate Affirm's growth," he wrote. "Recent data suggests the wait is nearly over, and we expect management to provide an update on the upcoming earnings call."
4:32 a.m. April 15, 2021 - By Tonya Garcia
American Eagle Outfitters shares jump as Q1 revenue approaches $1 billionAmerican Eagle Outfitters Inc. stock rose nearly 5% in Thursday premarket trading after the retailer's first-quarter business update showed revenue that is "on track" to exceed $1 billion. "Demand has accelerated across the American Eagle and Aerie brands, generating strong margins, higher full-priced selling and reduced promotions," the company said. The FactSet sales consensus is for $974 million. American Eagle is scheduled to report first-quarter earnings on May 1. BMO Capital Markets expects the momentum to continue into the second quarter. "[T]ighter industrywide inventory, coupled with stronger consumer demand, bolstered by stimulus is presenting a trifecta yielding a surge in spending power at a time when demand is already outstripping supply," analysts wrote in a note. BMO rates American Eagle market perform with a $36 price target, up from $26. American Eagle stock has rallied 64.3% for the year to date while the S&P 500 index has gained 9.8% for the period.
2:30 a.m. April 15, 2021 - By Tomi Kilgore
Bank of America stock jumps toward 13-year high after profit beat, new $25 billion buyback programShares of Bank of America Corp. rose 1.8% toward a 13-year high in premarket trading Thursday, after the bank reported profit that more than doubled and beat expectations, citing strong growth in capital markets and lower credit costs, and set a $25 billion stock repurchase program. Net income rose to $8.1 billion, or 86 cents a share, from $4.0 billion, or 40 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 66 cents. Total revenue was unchanged at $22.8 billion, but topped the FactSet consensus of $21.90 billion, while net interest income (NII) dropped 15.9% to $10.20 billion to fall shy of expectations of $10.27 billion. Consumer banking revenue fell 12% to $8.1 billion, as lower rates led to lower NII, while global markets revenue climbed 19% to $6.2 billion. Provision for credit losses improved to a benefit of $1.9 billion from a cost of $4.8 billion. Separately, the bank said it has authorized the repurchase of up to $25 billion worth of common stock over time. That represents about 7.3% of Bank of America's market capitalization of $344.29 billion. The stock, which is on track to open at the highest price seen since May 2008, has rallied 20.8% over the past three months through Wednesday, while the S&P 500 has gained 9.5%.
7:40 a.m. April 14, 2021 - By Tonya Garcia
E.L.F. Beauty sees 70% point-of-sale increase heading into April with help from Grammy-winning artist Alicia KeysE.L.F. Beauty Inc. saw a 70% point-of-sale jump in the four weeks ending April 4, according to IRI data presented in a D.A. Davidson note. D.A. Davidson increased its E.L.F. Beauty price target to $34 from $27, maintaining its buy stock rating. Analysts attributed the sales increase to marketing programs, stimulus checks and easier comps. Analysts also say that , the beauty brand E.L.F. launched in collaboration with Grammy-winning artist Alicia Keys during the third quarter, was a contributor. Keys Soulcare items are on Ulta Beauty Inc. shelves as well as in stores around the world and online. Beauty and personal care sales rose 16% in 2020 with consumers turning to do-it-yourself products and techniques during COVID-19, according to NielsenIQ data. African Americans and Latinos have been experimenting and spending "substantially more" than other racial groups, according to NielsenIQ. "The sharp rise in Black-owned beauty brands has allowed African Americans to discover an entirely new world of products that are specifically geared towards them and their at-home needs, further fueling consumers' newfound preference for natural beauty and DIY self care," the report said. "Hispanic and African American consumers have a track record of far out-spending other ethnic groups when it comes to beauty and personal care, and we can expect multicultural consumers to fuel cosmetics growth into 2021 as they look for products that enhance their natural beauty rather than mask it." E.L.F. Beauty stock was up 2.3% in Wednesday trading, and has gained 14.7% for the year to date, outpacing the S&P 500 index , which is up 10.3% for 2021 so far. Also see:
9:38 a.m. April 13, 2021 - By Myra P. Saefong
Gold futures end higher after posting back-to-back declinesGold futures for the first time in three sessions, as the reading came in higher than expected, boosting the metal's appeal as a hedge against inflation. June gold rose $14.90, or 0.9%, to settle at $1,747.60 an ounce on Comex - more than erasing the loss of 0.7% it saw on Monday, when prices settled at their lowest in a week.
5:32 a.m. April 13, 2021 - By Andrea Riquier
Stocks wobble at Tuesday's open in face of vaccine pause, hot inflation printU.S. stocks opened mixed after a volatile premarket session Tuesday after public health agencies announced a temporary halt in the use of a COVID-19 vaccine from Johnson & Johnson and inflation was stronger than analysts had forecast in March. The Dow Jones Industrial Average fell 62 points, 0.2%, to open near 33,684, while the S&P 500 gained 1 point to open near 4,129. The Nasdaq Composite index , which contains many of the stocks most in favor in a work-from-home world, added 65 points, 0.5%, to start trading near 13,915. Johnson & Johnson shares slipped 2.4% after the opening bell. In other biotech news, shares of Novocure Ltd. skyrocketed after the tumor treatment company reported positive news on its lung cancer treatment. The consumer price index gained 2.6% for the year in March, the Labor Department said.
9:46 a.m. April 12, 2021 - By Myra P. Saefong
Gold futures settle at lowest in a weekGold futures to settle at their lowest in a week as prices eased back after posting a nearly 1% climb last week. Investors are looking ahead to the U.S. consumer price index data due Tuesday. Last week, the its highest levels in nearly 10 years and "there is a concern it may not be as transitory as central bankers anticipate," said Michael Hewson, chief market analyst at CMC Markets UK. June gold fell $12.10, or 0.7%, to settle at $1,732.70 an ounce on Comex. That was the lowest most-active contract finish since April 5, FactSet data show.
6:21 a.m. April 12, 2021 - Barrons.com
A Word of WarningSonal Desai, Franklin Templeton Fixed Income's CIO, shares her concerns stemming from inflation, spending and debt. Plus, Joe Moglia, former chairman & CEO of TD Ameritrade, discusses the potential pitfalls within 2021's SPAC boom.
3:30 a.m. April 12, 2021 - By Tomi Kilgore
Aphria stock falls after wider-than-expected loss, revenue misses as COVID-19 reduced demandThe U.S.-listed shares of Aphria Inc. dropped 7.6% in premarket trading Monday, after the Canada-based cannabis company reported a wider-than-expected fiscal third-quarter loss and revenue that rose less than forecast, citing reduced demand resulting from the COVID-19 pandemic. For the quarter ending Feb. 28, the company swung to a net loss of C$366.8 million ($292.7 million), or C$1.14 a share, from net income of C$5.0 million, or C$0.02 a share, in the year ago period. Excluding nonrecurring items, such as unrealized losses and gains on convertible debt, adjusted losses per share widened to 15 cents from 4 cents, compared with the FactSet consensus for a per-share loss of 5 cents. Revenue rose 6.4% to $C153.6 million ($122.6 million), but missed the FactSet consensus of C$161.3 million. "As a result of the ongoing effects of COVID-19, including provincial lockdowns and provincial boards taking measures to lower their inventory levels which had previously included forecasted cannabis market growth, the company experienced what it believes is a transitory reduction in demand during the quarter," the company said in a statement. The average retail selling price of adult-use cannabis fell to 11% to C$3.82 per gram, while the average retail selling price of medical cannabis slipped 3.9T to C$6.69 per gram. "We remain excited with the opportunities created for both Aphria shareholders and Tilray stockholders in completing our , and believe that together, we will create one of the strongest global cannabis and consumer packaged goods companies in the world," Chief Executive Irwin Simon said. Aphria's stock has soared 135.3% year to date through Friday, while the Cannabis ETF has rallied 57.4% and the S&P 500 has gained 9.9%.
8:26 a.m. April 9, 2021 - By Michael Ashbaugh
Charting a Farewell Focus: 10-year yield asserts the range, Semiconductor sector presses record highs, TNX, SMH, KLAC, ROST, FOUR, ZENThis is the final edition of The Technical Indicator on MarketWatch. As its founder, and continuous editor since 2003, it has been a blast publishing for engaged and knowledgable readers for nearly 18 years.
8:12 a.m. April 8, 2021 - By Michael Ashbaugh
Bullish momentum persists: S&P 500 (slightly) extends April breakout Focus: Communications services sector tags record highs, Apple’s stealth trendline breakout, XLC, AAPL, IBM, ON, NUANU.S. stocks are mixed early Thursday, vacillating ahead of scheduled remarks from the Federal Reserve Chairman. Against this backdrop, the S&P 500 has tagged its latest record high, though narrowly, while the Nasdaq Composite has extended an already-aggressive trendline breakout.
8:55 a.m. April 6, 2021 - By Michael Ashbaugh
Charting a bullish technical tilt, S&P 500 extends break atop 4,000 mark Focus: Consumer staples sustain break to record territory, XLP, VMW, ADSK, LUV, DLTRTechnically speaking, the major U.S. benchmarks have taken flight to start April, rising amid statistically unusual bullish momentum, writes Michael Ashbaugh.
8:33 a.m. April 6, 2021 - By Michael Ashbaugh
Charting a bullish technical tilt, S&P 500 extends break atop 4,000 mark Focus: Consumer staples sustain break to record territory, XLP, VMW, ADSK, LUV, DLTR Technically speaking, the major U.S. benchmarks have taken flight to start April, rising amid statistically unusual bullish momentum. In the process, the S&P 500 and Dow Jones Industrial Average have knifed to record highs, while the Nasdaq Composite has staged a potentially consequential trendline breakout.
8:19 a.m. April 5, 2021 - By Tomi Kilgore
Lamb Weston stock rallies after BofA analyst said it's time to buy, ahead of earnings reportShares of Lamb Weston Holdings Inc. hiked up 2.4% in midday trading Monday, after BofA Securities analyst Bryan Spillane recommended investors buy ahead of earnings, as the frozen potato products seller is set to approach pre-COVID levels amid pent-up consumer demand for eating out. Spillane raised his rating to buy from neutral, while lifting his stock price target to $100 from $84. His target now tops the list of highest targets of the 8 analysts surveyed by FactSet. "Overall restaurant demand is improving and we are seeing positive signals across quick serve restaurants (QSR) and foodservice operators that could drive margin-accretive revenue growth for [Lamb Weston] heading into FY22," Spillane wrote in a note to clients. He said food distributors are adding staff in anticipation of a strong rebound in foodservice sales, which are set to accelerate at demand improves. The company is expected to report fiscal third-quarter results before Wednesday's opening bell. In fiscal second quarter ended Nov. 29, foodservice sales fell 21% from a year ago while total sales fell 12%. The stock has edged up 1.5% year to date, while the S&P 500 has gained 8.6%.
6:15 a.m. April 5, 2021 - By Tomi Kilgore
Leaf stock soars after Graham Holdings buyout bid at a 21% premiumShares of Leaf Group Ltd. soared 21.6% in active morning trading Monday, after the consumer internet company announced an agreement to be bought by education and media services company Graham Holdings Co. in a deal that valued Leaf about $304.3 million. Trading volume swelled to 4.7 million shares, compared with the full-day average of about 1.1 million shares. Under terms of the buyout deal, Graham will $8.50 for each Leaf share outstanding, which represents a 20.9% premium over Thursday's closing price of $7.03. Leaf said it had received Graham's buyout bid on Feb. 9, after which Leaf contacted 10 potential buyers about their interest in Leaf. The company said none of the potential buyers submitted a competing offer. "After thoroughly reviewing the strategic alternatives available to Leaf Group, the Board of Directors concluded that this all-cash premium transaction with Graham Holdings achieved the Board's long-term objective of fully recognizing the value of the business and delivers immediate and substantial cash value to our shareholders," said Deborah Benton, chair of Leaf's board of directors. The stock has run up 83.9% year to date, while the S&P 500 has gained 8.2%.
8:02 a.m. April 1, 2021 - By Michael Ashbaugh
Charting a bullish Q2 start, S&P 500 tags the 4,000 mark Focus: Semiconductor sector reclaims key resistance, SMH, LRCX, NTAP, MSI, NOVAU.S. stocks are firmly higher early Thursday, rising amid a largely bullish April start. Against this backdrop, the S&P 500 has ventured atop the 4,000 mark for the first time on record, as the Nasdaq Composite vies to simply reclaim its 50-day moving average, currently 13,427.
8:03 a.m. March 31, 2021 - By Michael Ashbaugh
Charting a stealth breakout attempt, S&P 500 tags fractional record high Focus: 10-year yield asserts higher plateau, FedEx extends earnings-fueled breakout, TNX, FDX, X, APD, VCELU.S. stocks are higher early Wednesday, rising as a largely-bullish first quarter concludes. Against this backdrop, the S&P 500 has tagged a fractional record high early Wednesday amid a stealth late-March breakout attempt that remains underway.
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