Liveblog Archief woensdag 27 juli 2022

TOP NEWS

• Fed to unveil another big rate hike as signs of economic slowdown grow
With the Federal Reserve expected to hike its key interest rate by three-quarters of a percentage point to battle high inflation, focus will shift to how deeply signs of an economic slowdown have registered with its policymakers.

• Europe's banks flash some good news but downbeat on economy
European banks this week offered flashes of surprisingly good news on profits, but some executives spoke of a bleak outlook for the rest of the year amid raging inflation, war and energy shortages.

• Credit Suisse names new CEO to overhaul investment bank as losses mount
Credit Suisse has named asset management boss Ulrich Koerner as its new CEO, who is tasked with scaling back investment banking and cutting more than $1 billion in costs to help the bank recover from a string of scandals and losses.

• Spotify's quarterly revenue, user growth beats expectations
Spotify reported second-quarter revenue above analysts' estimates, helped by a 14% jump in paying subscribers as more users listened to its podcasts, and the company forecast an upbeat current quarter.

• Humana raises FY profit forecast on lower medical costs
Humana raised its annual profit forecast for the second straight quarter, citing a favourable trend in medical expenses as demand for non-urgent medical procedures continues to recover at a slower-than-expected pace.


BEFORE THE BELL
Wall Street futures rose as well-received quarterly results from technology giants Microsoft and Alphabet calmed investors ahead of a key U.S. interest rate decision later in the day. European shares were boosted by strong results from Britain's Reckitt Benckiser and Russia-exposed lender UniCredit. Japan's Nikkei ended higher, helped by gains in chip stocks. The U.S. dollar was lower, while gold prices rose ahead of the looming Fed hike. Oil was higher on a drop in U.S. inventories and cuts in Russian gas flows to Europe. On the economic calendar are durable goods, pending home sales, goods trade balance and wholesale inventories data scheduled for release. ​


STOCKS TO WATCH
Results
• Alphabet Inc: Google search ads lifted parent Alphabet close to Wall Street sales expectations on Tuesday, sending shares up on relief that the world's biggest seller of online advertising may withstand a global recession better than smaller rivals. "Google is relatively well positioned to weather the rough waters that lie ahead," Insider Intelligence analyst Evelyn Mitchell said. It said that sales would have been close to $72 billion if not for currency swings. The currency impact will be even greater in the third quarter, Alphabet Chief Financial Officer Ruth Porat said. The company's second-quarter profit fell to $16 billion, or $1.21 per share, compared with the average estimate of $1.29 per share. Alphabet's profit tends to be unpredictable due to sporadic gains or losses - at least on paper - in the stakes it holds in many startups.

• British American Tobacco Plc: The London-based company said it took a 957 million pound impairment charge related to the transfer of its Russian business, pushing half-year earnings of the Lucky Strike cigarette maker 25% lower. The company, which controlled almost a quarter of the Russian market said in June it was in advanced talks with its distributor in the country to sell the business. BAT reported a 25% drop in profit from operations to 3.68 billion pounds for the six months to June 30 as a result of the charge. The 119-year-old company, however maintained its full-year guidance after reporting better than expected first half revenue and adjusted operating margins on the back of booming demand for its vaping and oral nicotine products and higher prices.

• Bunge Ltd: Bunge raised its full-year profit forecast as the global farm commodities merchant benefits from higher demand and tighter supplies of essential crops. The company said it now expects annual adjusted earnings of at least $12 per share, compared with its previous forecast of at least $11.50 per share. In the three months ended June 30, adjusted income rose to $458 million, or $2.97 per share, from $398 million, or $2.61 per share, a year ago. The results come at a time when global supply chain woes and strong demand for food and fuel have propelled inflation to the highest in decades.

• Chipotle Mexican Grill Inc: The company on Tuesday beat Wall Street estimates for quarterly profits, as multiple rounds of price hikes helped the burrito chain cushion the blow from soaring costs."Our pricing power is strong and the brand is resilient," Chief Executive Officer Brian Niccol said during a call with investors. The price hikes helped Chipotle's net income jump to $259.9 million, or $9.25 per share, in the second quarter ended June 30, from $188 million, or $6.60 per share, a year earlier. Excluding items, Chipotle earned $9.30 per share, topping estimates of $9.04, according to Refinitiv IBES. It expects same-store sales to rise in the mid- to high-single digits in the third quarter, while analysts on average predict a 7.1% gain.

• Credit Suisse Group AG: The Swiss bank named asset management head Ulrich Koerner as its new chief executive on Wednesday and said it plans cost cuts as part of a strategic review, in the bank's latest efforts to recover from a series of scandals and losses. Credit Suisse, which posted a 1.59 billion Swiss franc April-June loss - badly missing the 206 million francs consensus - has sought to dampen speculation that it could be acquired or broken up amid sector consolidation. Chief Financial Officer David Mathers, when asked whether Credit Suisse might increase its capital after another quarterly loss, said the Swiss bank is well capitalised. The bank now plans to reduce its cost base to below 15.5 billion francs in the medium term versus an annualised 16.8 billion this year based on first-half numbers. More details on this were due with third-quarter results.

• Deutsche Bank AG: Germany's largest lender posted a better-than-expected 51% rise in second-quarter profit on Wednesday as investment banking revenues rose, though the lender was less optimistic about the division's prospects for the full year and warned about the economic outlook.The bank also dropped its cost target for the full year and was more cautious about chances of achieving a key profit target due to inflation and a looming energy crisis. Net profit attributable to shareholders was 1.046 billion euros ($1.06 billion) in the quarter. That compares with profit of 692 million euros a year earlier, and it is better than analyst expectations for profit of around 788 million euros. Overall investment banking revenues were up 11% in the quarter, but revenue from the investment bank's origination and advisory business declined 63% in the quarter.

• Equinor ASA: Equinor will return an additional $3 billion to shareholders, the Norwegian oil group said on Wednesday after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped natural gas as Russia cut deliveries amid a standoff with the West over the war. Adjusted earnings before tax jumped to $17.6 billion in the second quarter from $4.6 billion a year earlier, beating the $16.9 billion predicted in a poll of 26 analysts compiled by Equinor. The company raised its dividend and share buyback guidance for 2022 by 30% to a total of around $13 billion from $10 billion announced in February.

• GSK Plc: Days after carving out its consumer health business, a slimmed down GSK delivered a strong second-quarter performance, boosting its full year forecast as demand for its blockbuster Shingrix vaccine rebounded. GSK said it now expects 2022 sales to rise 6% to 8% and adjusted operating profit to increase by 13% to 15%, excluding any contributions from the company's COVID-19 solutions business. Adjusted earnings stood at 34.7 pence per share for the three months to June 30, GSK said, while it generated turnover of about 6.9 billion pounds, including "pandemic solutions" sales from the preceding quarter. Analysts expected GSK second-quarter earnings of 29.3 pence per share on revenues of about 6.3 billion pounds, a company-compiled consensus showed.

• Hilton Worldwide Holdings Inc: The hotel operator raised its full-year profit forecast, as the hotel operator expects to benefit from a resurgence in travel. Hilton stands to gain as Americans spent more on international travel as well as hotel stays, though rising inflation remains a concern in the travel industry. It said it expects net income of $1.15 billion to $1.22 billion this year, compared to its previous guidance of $1 billion to $1.07 billion. The company's net income attributable to shareholders rose to $368 million, or $1.32 per share, for the quarter ended June 30, from $130 million, or 46 cents per share, a year earlier.

• Humana Inc: The health insurer raised its annual profit forecast for the second straight quarter, citing a favourable trend in medical expenses as demand for non-urgent medical procedures continues to recover at a slower-than-expected pace. The company raised its full-year adjusted earnings forecast to about $24.75 per share, compared to prior guidance of $24.50. Humana said lower medical services utilization trends and lack of COVID-19 headwind were partly responsible for the guidance raise, but included a COVID headwind in the back half of the year. The company's net income rose to $1.12 billion, or $5.48 per share, in the quarter ended June 30, 2022 from $738 million, or $4.55 per share, a year earlier.

• LG Display Co Ltd: The South Korean display panel maker said it swung to a second-quarter loss from a profit a year earlier, as inflation and interest rate hikes undercut demand for panels used in TVs and gadgets. The company's operating loss was 488 billion won ($371 million) for the April-June quarter, compared with a profit of 701 billion won in the same period last year. Business had been boosted for several quarters by strong home entertainment-related demand during the COVID-19 pandemic. The quarterly operating loss, the first since the second quarter of 2020, was steeper than an average forecast of a 343 billion won loss from 12 analysts polled by Refinitiv SmartEstimate. Revenue fell 20% on the year to 5.6 trillion won, LG Display said in a regulatory filing.

• Lloyds Banking Group Plc: The British bank has hiked its dividend and full-year profitability forecast despite lower first-half earnings and a murky outlook for the UK economy, as rising interest rates outpace modest growth in provisions for troubled loans. It reported pretax profits of 3.7 billion pounds for the six months to June, down from 3.9billion pounds the prior year, but above the 3.2 billion average of analyst forecasts compiled by the bank. Lloyds also raised its forecast for return on tangible equity, a key measure of profitability, to 13% for 2022, up from a forecast of greater than 11% as of March.

• Microsoft Corp: The software company on Tuesday forecast revenue this fiscal year would grow by double digits, driven by demand for cloud computing services and sending its shares up. Despite the positive forecast for the fiscal year starting July 1, Microsoft results for the fourth quarter amounted to a slight miss, hurt by a stronger dollar, slowing sales of PCs and lower advertiser spending. Microsoft reported revenue of $51.87 billion in the fourth quarter, compared with $46.15 billion a year earlier. Analysts on average had expected revenue of $52.44 billion, according to Refinitiv IBES data. Net income rose to $16.74 billion, or $2.23 per share, during the quarter ended June 30, from $16.46 billion, or $2.17 per share, a year earlier.

• Mondelez International Inc: The Oreo-maker raised its revenue forecast for the full year after posting better-than-expected quarterly results on Tuesday, as higher product prices failed to quell demand for the Oreo maker's snacks and chocolates. maker forecast 2022 organic net revenue to rise by more than 8%, compared with its prior estimate of over 4%. For the second quarter, Mondelez's net revenue rose about 10% to $7.27 billion, beating estimates of $6.78 billion, according to IBES data from Refinitiv. "Volume growth of 5% in the second quarter is impressive," Credit Suisse analyst Robert Moskow wrote in a note. Adjusted profit was 67 cents per share, and came in 3 cents above estimates.

• Provident Financial Services Inc: The British subprime lender returned to interim profit, as costs related to the wind-down of its doorstep lending unit fell and demand remained robust in its credit card business. Lenders, which benefited from increased borrowing as the market recovered from the pandemic, are now battling a possible spike in bad loans as the cost-of-living crisis deepens. Provident is also looking to focus more on lower risk customer segments amid uncertain macroeconomic conditions. The company reported a pretax profit of 37.3 million pounds for the six months ended June 30, compared to a loss of 44.2 million pounds in the year-ago period.

• Rio Tinto Plc: The global miner reported a 29% drop in first-half profit on Wednesday and more than halved its dividend, as the global miner was hurt by weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages. "While the pricing environment is becoming more challenging, the demand outlook remains positive," CEO Jakob Stausholm told a media briefing after the results were released. The company more than halved its interim dividend to $2.67 per share from $5.61 per share a year earlier. Rio posted an underlying profit of $8.63 billion for the six months ended June 30, compared with a record $12.17 billion a year earlier and analysts' mean forecast compiled by the company for $8.37 billion. The company also cut its capital investment foreast for 2022 by $500 million to $7.5 billion.

• Spotify Technology SA: The msuic streaming company reported second-quarter revenue above analysts' estimates, helped by a 14% jump in paying subscribers as more users listened to its podcasts, and the company forecast an upbeat current quarter. It posted a 23% increase in revenue to 2.9 billion euros, beating analysts' expectations of 2.8 billion euros, according to IBES data from Refinitiv. Premium subscribers, which account for most of the company's revenue, rose to 188 million, beating analysts' expectations of 187 million. Total monthly active users rose 19% to 433 million. Analysts had expected 428 million. The company forecast current-quarter paid subscribers of 194 million, in line with expectations. It expects revenue of 3 billion euros, above estimates of 2.95 billion euros.

• Teck Resources Ltd: The Canadian miner said on Tuesday Chief Executive Officer Don Lindsay will step down after 17 years in the role, and also posted forecast-beating quarterly profit on upbeat prices for steelmaking coal. Lindsay, who will step down by end-September, will be replaced by Jonathan Price as CEO while Harry Conger has been appointed president and chief operating officer. The company also posted profit attributable to shareholders of C$1.68 billion in the second quarter, a more than six-fold jump from year-ago levels. Teck cut its annual steelmaking coal production outlook to between 23.5 million and 24 million tonnes, citing workforce challenges experienced in the first half of the year. On an adjusted basis, the miner reported a profit of C$3.25 per share, compared with an estimate of C$3.20 per share, according to Refinitiv data.

• Texas Instruments Inc: The chipmaker on Tuesday forecast current-quarter revenue largely above expectations, betting on sustained demand from industrial and automotive customers and an improvement in shipments as supply-chain bottlenecks start to ease. Texas Instruments said revenue in industrial and automotive segments, its top earners, rose high-single-digit and 20%, respectively, in the quarter ended June 30. The company projected sales in the range of $4.90 billion to $5.30 billion in the current quarter, compared with analysts' estimate of $4.97 billion. In the second quarter, Texas Instruments reported a net income of $2.29 billion, a 19% rise from a year earlier. Its revenue grew 14% to $5.21 billion in the quarter, higher than analysts' estimate of $4.62 billion, according to Refinitiv data.

• T-Mobile US Inc: The company raised its subscriber growth forecast for the second time this year as the wireless carrier's relatively cheaper plans lured customers reeling from decades-high inflation. The company expects to add net monthly-bill paying subscribers of between 6 million and 6.3 million in 2022, up from a prior forecast of 5.3 million to 5.8 million. T-Mobile's decision not to raise prices for its wireless plans has helped it rake in more customers in a price-conscious market, while rival telecom companies AT&T and Verizon Communications have had to raise rates to combat higher costs. The carrier added 723,000 subscribers in the second quarter, much above FactSet estimates of 573,100.

• Visa Inc: The company beat estimates for quarterly profit on Tuesday as resilience in consumer spending so far and a summer travel boom across much of the United States translated into higher card spends. The world's largest payments processor raked in higher revenue as payment volumes jumped 12% during the third quarter, helped by a 40% surge in cross-border volumes. Travel-related cross-border volumes were 16% above 2019. Visa posted an adjusted net income of $1.98 per share, handily beating the $1.75 a share expected by analysts, according to Refinitiv data.

In Other News
• Alphabet Inc: Google Maps launched its panoramic Street View service in 10 Indian cities in partnership with Tech Mahindra and Genesys, 11 years after a first attempt ran into regulatory troubles. The feature, which offers 360-degree views of streets around the world using photos taken by cruising vehicles, has faced privacy complaints and regulatory scrutiny in many countries. The Indian launch comes after Google was denied permission at least twice in the last decade by the government over security concerns. Company executives said it was able to meet the regulatory requirements thanks to a new geospatial policy from India last year, which allows foreign map operators to provide panoramic imagery by licensing the data from local partners.

• Cassava Sciences Inc: The U.S. Justice Department has opened a criminal investigation into Cassava Sciences involving whether the biotech company manipulated research results for its experimental Alzheimer's drug, two people familiar with the inquiry said. The Justice Department personnel conducting the investigation into Austin, Texas-based Cassava specialize in examining whether companies or individuals have misled or defrauded investors, government agencies or consumers, according to the sources, who spoke on condition of anonymity. The sources did not provide details of the focus of the probe and whether the department was looking into any specific individuals.

• Coinbase Global Inc: Cathie Wood's Ark Invest sold 1.42 million shares of cryptocurrency exchange Coinbase, according to Tuesday's trading data from the investment company, following report of a probe by the U.S. securities regulator. The U.S. Securities and Exchange Commission was investigating whether Coinbase improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on Monday.

• Exxon Mobil Corp & Hess Corp: The company said on Tuesday it has made two new oil discoveries offshore Guyana and that it has already exceeded its original year-end daily production target for the South American country. The announcements are part of Exxon's efforts to accelerate production in Guyana and to invest in long-term megaprojects that offer lower costs and lower carbon emissions per barrel. A group led by Exxon started production in the tiny nation of 750,000 people in 2019 and currently controls all output in Guyana. Exxon's partner Hess said in a follow up statement the group's current production has reached 360,000 boepd. The increase was possible after optimization works that expanded capacity of the consortium's first platform Liza Destiny by 20,000 boepd to 140,000 boepd, Hess said.

• McDonald's Corp: The burger chain will increase the price of its cheeseburger by 20% in Britain, in the first price hike for the popular item in 14 years as it responds to soaring inflation. The cheeseburger's price will now rise to 1.19 pounds from 99 pence. McDonald's will also increase prices by 10p-20p for other items that have been hit by rising costs, the burger chain's UK chief told customers on Tuesday. The increase, which will take the cheeseburger above the psychologically important price point of 1 pound, comes as British consumer price inflation hovers around 40-year highs and is forecast to top 11% in October.

• PayPal Holdings Inc: Activist investor Elliott Investment Management is building a stake in PayPal, as it plans to push the fintech giant to ramp up its cost-reduction efforts, Bloomberg News reported, citing people familiar with the matter. Elliott may eventually become one of the PayPal's five largest shareholders, according to the report on Tuesday. The report comes after PayPal revealed earlier this year that it had initiated a strategic reduction of its global workforce, and said it expected to save about $260 million in annualized employee-related costs, as it looked to maneuver through challenging macro-economic conditions.

• Ryanair Holdings Plc: Ryanair's Spanish cabin crew union members plan strikes on four days of every week until January to press demands for higher pay and better working conditions, a leader of the USO union said in a statement. The strike action, which is backed both by the USO and Sitclpa union groups, will take place from Monday to Thursday during every week from Aug. 8 to Jan.7, the statement said. Ryanair workers caused disruption at many Spanish airports during July, when they walked out for several days, mainly on weekends, during the month.

• Teva Pharmaceutical Industries Ltd: The pharmaceutical player on Tuesday announced a $4.35 billion proposed nationwide settlement that could resolve thousands of lawsuits over the drugmaker's alleged role in the U.S. opioid epidemic. The proposal calls for Teva to pay up to $3.7 billion in cash over 13 years and provide a company estimated $1.2 billion worth the opioid overdose reversal drug naloxone. Teva has denied wrongdoing, saying it sold legal medication that was approved for treatment of pain. Teva's proposed settlement would allow state and local governments to opt for additional cash in lieu of an allotment of the overdose medication, at a value of 20% of the drug's list price. The cash value of the settlement could reach $4.25 billion if state and local governments opt to receive money in lieu of the drugs. Israel-based Teva also will pay about $100 million to Native American tribes and pay attorneys fees incurred by the states, local governments and tribes.

• Tesla Inc: The National Highway Traffic Safety Administration (NHTSA) said on Tuesday it has opened a special investigation into the crash of a 2020 Tesla Model 3 vehicle that killed a motorcyclist in Utah. The driver of a Tesla in a crash Sunday that fatally injured a motorcycle rider told police the vehicle was using Autopilot, an advanced driver assistance system that handles some driving tasks. Since 2016, NHTSA has opened 38 special investigations of crashes involving Tesla vehicles and where advanced driver assistance systems such as Autopilot were suspected of being used. A total of 19 crash deaths have been reported in those Tesla-related investigations, including the most recent fatal Utah crash.

• Toyota Motor Corp: The Japanese carmaker plans to invest 27.1 trillion rupiah in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia's economics ministry said. The Southeast Asian country aims to become a global hub for producing and exporting EVs through processing its rich supplies of nickel laterite ore for use in lithium batteries. Toyota plans to produce various types of hybrid EVs in its pipeline over the next four years, according to the ministry's statement. Separately, the automaker has suspended night shift operations at one production line of its Takaoka factory in central Japan because of a COVID-19 outbreak, the company said.

• Twitter Inc: The social media firm said on Tuesday it would hold a shareholder meeting on Sept. 13 to vote on the social media company's proposed $44 billion takeover offer by Tesla chief Elon Musk. The company's plan, which was disclosed in a filing, comes as the world's richest person prepares for a legal showdown with Twitter in October for walking away from his offer to buy the social media company. At the meeting, shareholders will be asked to vote on a proposal to approve the compensation that may be payable by Twitter to certain executive officers in connection with the buyout, Twitter said in a filing. Separately, the company disclosed that it had significantly slowed hiring in the second quarter and was being more selective with filling roles, in a move to cut costs.

• UBS Group AG: The bank plans to set up a wholly owned mutual fund business in China, two people with direct knowledge of the matter told Reuters, as the Swiss bank seeks to expand its footprint in the country's $3.9 trillion retail fund market. UBS aims to launch the China fund unit in about two years, the people said. The bank's asset management arm began hiring key personnel in recent months for the planned business, including a head of the company, one of them said. The new activity will expand a UBS presence in China that already includes a mutual fund joint venture and a private fund business.


ANALYSIS
Investors gauge U.S. stocks rebound: 'suckers' rally' or market bottom?
As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of a weeks-long U.S. stock market rally that followed a vicious first-half selloff.Even after Tuesday's sharp fall, the S&P 500 remained up 7% from its June 16 low, buoyed in part by expectations that the Fed will pause its aggressive rate hikes early next year and a recent decline in commodity prices that investors hope will help ease inflation.


ANALYSTS' RECOMMENDATION
• General Electric Co: Jefferies cuts target price to $75 from $80, after the company’s earnings came in better than expected for the quarter but the outlook for the remainder of the year (and 2023) is weaker than anticipated.

• General Motors Co: Daiwa Capital Markets cuts target price to $35 from $40, following the company’s second-quarter results which came in below estimates and limited visibility on earnings growth.

• McDonald’s Corp: RBC raises target price to $305 from $292, after the company reported encouraging second-quarter results despite the tough operating environment, with strong execution and momentum positioning them well for the second half of 2022.

• Microsoft Corp: JPMorgan cuts target price to $305 from $320, expecting modestly downward estimate revisions after the company reported a better-than-feared Q4 and guidance where they removed the word “healthy” from their double-digit growth guidance and confirmed hiring will slow.

• United Parcel Service Inc: Credit Suisse cuts target price to $223 from $225, following the company’s strong second-quarter results that was overshadowed by volume declines and a cautious outlook for the second half raising concerns on what comes next.


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 Durable goods for June: Expected -0.5%; Prior 0.8%
0830 Durables ex-transport for June: Expected 0.2%; Prior 0.7%
0830 Durables ex-defense mm for June: Prior 0.7%
0830 Nondefense cap ex-air for June: Expected 0.2%; Prior 0.6%
0830 Advance goods trade balance for June: Prior -$104.04 bln
0830 Wholesale inventories advance for June: Prior 1.8%
0830 Retail inventories ex-auto advance for June: Prior 0.8%
1000 Pending Homes Index for June: Prior 99.9
1000 Pending sales change mm for June: Expected -1.5%; Prior 0.7%
1400 Fed funds target rate: Expected 2.25-2.5%; Prior 1.5-1.75%
1400 Fed interest on excess reserves: Prior 1.65%


COMPANIES REPORTING RESULTS
Align Technology Inc: Expected Q2 earnings of $2.23 per share
American Water Works Company Inc: Expected Q2 earnings of $1.16 per share
Amphenol Corp: Expected Q2 earnings of 68 cents per share
Avalonbay Communities Inc: Expected Q2 earnings of 92 cents per share
Boeing Co: Expected Q2 loss of 14 cents per share
CH Robinson Worldwide Inc: Expected Q2 earnings of $1.98 per share
Cincinnati Financial Corp: Expected Q2 earnings of $1.06 per share
Cognizant Technology Solutions Corp: Expected Q2 earnings of $1.08 per share
Duke Realty Corp: Expected Q2 earnings of 20 cents per share
Equinix Inc: Expected Q2 earnings of $1.81 per share
ETSY Inc: Expected Q2 earnings of 31 cents per share
Everest Re Group Ltd: Expected Q2 earnings of $8.06 per share
Ford Motor Co: Expected Q2 earnings of 45 cents per share
Fortune Brands Home & Security Inc: Expected Q2 earnings of $1.60 per share
Garmin Ltd: Expected Q2 earnings of $1.40 per share
Genuine Parts Co: Expected Q2 earnings of $2.03 per share
Globe Life Inc: Expected Q2 earnings of $2.05 per share
Hess Corp: Expected Q2 earnings of $2.14 per share
Hologic Inc: Expected Q3 earnings of 71 cents per share
Lam Research Corp: Expected Q4 earnings of $7.32 per share
Lamb Weston Holdings Inc: Expected Q4 earnings of 51 cents per share
Meta Platforms Inc: Expected Q2 earnings of $2.59 per share
Mid-America Apartment Communities Inc: Expected Q2 earnings of 94 cents per share
Molina Healthcare Inc: Expected Q2 earnings of $4.29 per share
Norfolk Southern Corp: Expected Q2 earnings of $3.47 per share
Old Dominion Freight Line Inc: Expected Q2 earnings of $3.14 per share
O'Reilly Automotive Inc: Expected Q2 earnings of $8.96 per share
PTC Inc: Expected Q3 earnings of $1.07 per share
Qualcomm Inc: Expected Q3 earnings of $2.87 per share
Raymond James Financial Inc: Expected Q3 earnings of $1.66 per share
Rollins Inc: Expected Q2 earnings of 20 cents per share
ServiceNow Inc: Expected Q2 earnings of $1.54 per share
Tyler Technologies Inc: Expected Q2 earnings of $1.82 per share
United Rentals Inc: Expected Q2 earnings of $6.46 per share
VICI Properties Inc: Expected Q2 earnings of 47 cents per share
Waste Management Inc: Expected Q2 earnings of $1.40 per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Booz Allen Hamilton Holding Corp: Annual Shareholders Meeting
0800 Boston Scientific Corp: Q2 earnings conference call
0800 Bristol-Myers Squibb Co: Q2 earnings conference call
0800 T-Mobile US Inc: Q2 earnings conference call
0830 Automatic Data Processing Inc: Q4 earnings conference call
0830 CME Group Inc: Q2 earnings conference call
0830 Otis Worldwide Corp: Q2 earnings conference call
0830 Rockwell Automation Inc: Q3 earnings conference call
0845 Norfolk Southern Corp: Q2 earnings conference call
0900 American Electric Power Company Inc: Q2 earnings conference call
0900 General Dynamics Corp: Q2 earnings conference call
0900 Humana Inc: Q2 earnings conference call
0900 Invesco Ltd: Q2 earnings conference call
0900 Kraft Heinz Co: Q2 earnings conference call
1000 Hess Corp: Q2 earnings conference call
1000 Lamb Weston Holdings Inc: Q4 earnings conference call
1000 Old Dominion Freight Line Inc: Q2 earnings conference call
1000 Rollins Inc: Q2 earnings conference call
1000 Waste Management Inc: Q2 earnings conference call
1030 Avery Dennison Corp: Q2 earnings conference call
1030 Boeing Co: Q2 earnings conference call
1030 Hilton Worldwide Holdings Inc: Q2 earnings conference call
1100 Genuine Parts Co: Q2 earnings conference call
1100 Sherwin-Williams Co: Q2 earnings conference call
1100 Teledyne Technologies Inc: Q2 earnings conference call
1300 Amphenol Corp: Q2 earnings conference call
1600 Doximity Inc: Annual Shareholders Meeting
1630 Align Technology Inc: Q2 earnings conference call
1630 Fortune Brands Home & Security Inc: Q2 earnings conference call
1630 Hologic Inc: Q3 earnings conference call
1645 Qualcomm Inc: Q3 earnings conference call
1700 CH Robinson Worldwide Inc: Q2 earnings conference call
1700 Cognizant Technology Solutions Corp: Q2 earnings conference call
1700 ETSY Inc: Q2 earnings conference call
1700 Ford Motor Co: Q2 earnings conference call
1700 Lam Research Corp: Q4 earnings conference call
1700 Meta Platforms Inc: Q2 earnings conference call
1700 PTC Inc: Q3 earnings conference call
1700 ServiceNow Inc: Q2 earnings conference call
1730 Equinix Inc: Q2 earnings conference call


EX-DIVIDENDS
First Republic Bank: Amount $0.27
Marsh & McLennan Companies Inc: Amount $0.59

Goedemorgen,

De markten blijven voorlopig naar richting zoeken, zo is er vanavond de rentebeslissing door de FED en krijgen we nog belangrijke kwartaalcijfers met vanavond onder andere META Platforms en Qualcomm. Morgen (donderdag) komen dan Apple en Amazon nog bij en dan hebben we de grote 5 gehad. De tech indices moesten wel weer inleveren met bijna 2% verlies voor de Nasdaq. In Europa blijft de AEX sterk liggen door dat enkele bedrijven met een sterke winst kwamen, het waren deze keer Unilever en Philips (dat maandag fors verloor na de cijfers) die de kar trokken. De Brent olie zakt dan weer tot net onder de 100 dollar terwijl de 10-jaars rente rond de 2,8% oploopt. De rente houden we vanavond goed in de gaten want de FED komt met de renteverhoging en we kijken vooral uit naar het verhaal over de plannen voor later dit jaar. We hebben wel wat posities gesloten om af te wachten hoe de markten zullen reageren op de FED en de cijfers nabeurs van Apple en Amazon.

Wat betreft de maand juli staan we met alle abonnementen op winst na het sluiten van de short posities woensdag. Meedoen met de signalen die we versturen kan door lid te worden via de Tradershop ... Let op, er loopt nu een nieuwe aanbieding tot 1 OKTOBER voor €35 ...

Update woensdag 27 juli:
Wall Street viel terug dinsdag met opnieuw de Nasdaq die bijna 2% moest inleveren, de index sluit 220 punten lager met een slot op 11.563 punten terwijl ook de Nasdaq 100 index 241 punten verloor met een slot op 12.087 punten. De SOX index verloor 1,65% terwijl de Dow Transport index 1,8% lager sloot. De S&P 500 verloor 46 punten (-1,15%) om op 3921 punten te sluiten terwijl de Dow Jones 228 punten (-0,7%) verloor.

In Europa was er ook overal verlies maar de indices stonden gedurende de sessie wel in de plus, de AEX index verloor 0,75 punten (0,1%) met een slot op 706,2 punten, de AEX blijft zo in een sterke fase zitten en kon na de uitbraak boven de 700 punten dat niveau tot nu toe makkelijk vasthouden.Deze keer kwam het vooral door dat zwaargewicht Unilever een stevige plus liet zien na de cijfers. De DAX verloor 113 punten met een slot op 13.097 punten en zakt zo gestaag verder weg. De Franse CAC 40 verloor dinsdag 0,4% terwijl de BEL 20 de sessie afsluit met een verlies van 0,1%.

Vanavond nog het rentebesluit van de FED, de markt verwacht dat de FED de rente opnieuw met 0,75% zal verhogen. Daar blijkt uit een onderzoek dat 3 kwart van de marktvolgers uit gaat van die 0,75% terwijl er zo'n kwart van de marktvolgers nog iets verder gaat en meteen 1% verhoging aangeeft.

Later vanavond na het slot op Wall Street krijgen we de kwartaalcijfers van Apple en Amazon nog, men kijkt vooral naar Apple en de verwachtingen die men uitspreekt voor het verdere verloop dit jaar. Gisteren kwamen Microsoft en Alphabet al met hun cijfers, Microsoft werd goed ontvangen aangezien de koers met 4% steeg nabeurs, Alphabet won bijna 5% nabeurs.

Dit viel allemaal mee dus en we zien dat de Nasdaq futures vanmorgen zo'n 1,5% hoger staan, nu is het wachten op de opening vanmiddag op Wall Street want de indicatie is positief. Ook de S&P future staat 0,9% hoger terwijl de Dow Jones future 0,5% positief staat.

Zelf blijven we rustig handelen en op halve kracht, we nemen kleinere posities en letten op het verloop van de markten. De short posities die we vorige week hebben opgenomen werden deels gesloten met een mooie winst, er loopt wel nog 1 positie en we nemen de tijd daarmee, veel risico zit daar niet meer in denk ik.

De signaaldiensten:
We hebben al wat van de short posities kunnen sluiten met winst, het ging om de DAX, de Nasdaq en de Dow Jones en dat met een leuke winst. Om mee te doen met de posities die we uitkiezen kunt u lid worden en inloggen op de website bij de Tradershop waar u dan alle details kunt zien. Wat betreft de maand JULI hebben we al voor de 3e keer deze maand de posities met winst kunnen sluiten bij alle abonnementen.

Meedoen met onze signalen kan nu via de nieuwe aanbieding die loopt tot 1 OKTOBER 2022. Schrijf u nu snel in tot 1 OKTOBER voor €35 via de Tradershop en kies uw abonnement via de link https://www.usmarkets.nl/tradershop

Marktoverzicht:
Wall Street sluit lager met 0,7% verlies voor de Dow Jones terwijl de S&P 500 index 1,15% moest inleveren. De tech indices deden het nog wat slechter, de Nasdaq verloor 1,9% terwijl de SOX index 1,5% verloor. In Europa was er ook verlies, de AEX verloor 0,1% terwijl de DAX 0,85% lager de sessie afsloot.

Dow Jones:
De Dow Jones sluit 228 punten lager en blijft onder de belangrijke 32.000 punten op slotbasis waar we nu de eerste weerstand zien uitkomen. Verder zien we rond de 32.200 punten een redelijk zware weerstand, alleen als de Dow Jones door kan trekken tot ver boven die 32.200 punten dan ligt de weg open richting de 33.000 punten. Zo ver is het nog lang niet, eerst maar eens zien wat de index de komende dagen zal doen.

Steun nu eerst de 31.585 punten waar het 50-daags gemiddelde uitkomt met snel daaronder vooral de 31.500 punten als steun. Later zien we rond de 30.150 steun.

AEX index:
De AEX sluit 0,75 punten lager en blijft nog makkelijk boven de 700 punten uitkomen, de slotstand op 706,25 punten ligt nog steeds ruim boven die 700-702 punten. Toch blijven we opletten, de index ziet er nu sterk uit maar binnen een paar sessies kan dat weer helemaal anders worden, we zijn niet anders gewend in deze markt.

Weerstand nu eerst die 708-710 punten, later de 715 en de 718-720 punten als weerstand. Steun nu eerst de 700-702 punten, later de 689-690 punten en daaronder de 680-682 punten. Verder zien we steun rond 670-672 punten en de 660 punten.

DAX index:
De DAX sluit opnieuw lager maar blijft nog boven de 13.000-13.050 punten steun. De zware weerstand zien we rond de 13.300-13.400 punten, het kan moeilijk worden om daarboven uit te breken maar in deze markt mogen we niets uitsluiten. Weerstand nu die 13.300-13.400 punten, later rond de 13.470 punten weerstand door het 50-daags gemiddelde. Verder rond de 13.750 punten nog een redelijke weerstand.

Steun nu eerst de 13.000-13.050 punten, later steun rond de 12.750 en de bodem rond de 12.400-12.500 punten.

Nasdaq Composite:
De Nasdaq moet verder inleveren na de daling van de afgelopen dagen, de index verloor 220 punten met een slot op 11.562 punten. De index sluit nu wel onder de eerste steun die rond de 11.750 punten uitkwam, nu zien we de eerste steun rond de 11.500 punten met daaronder de 11.300 punten als steun. Verder nog steun rond de 11.030-11.050 punten.

Weerstand wordt nu de 11.750 punten met later weerstand rond de 12.000-12.050 punten. Verder zien we de 12.275-12.300 punten als volgende weerstand.

Overzicht resultaat dit jaar (2022):
Alle signaaldiensten sluiten dit jaar al voor de 6e maand op rij met winst af en deze maand juli werden er al wat posities met winst gesloten zodat we er ook deze maand al goed voorstaan. Er komen zeker nog genoeg kansen om wat te doen in deze markt.

Meedoen met onze signalen kan nu via de nieuwe aanbieding die loopt tot 1 OKTOBER 2022 voor €35. Ga naar onze Tradershop en kies uw abonnement via de link https://www.usmarkets.nl/tradershop en kies een abonnement.

Overzicht resultaten deze maand maart en dit jaar (2022):

Met vriendelijke groet,
Guy Boscart