● US jobless claims fell more than expected
● Apple will invest $1 billion in job creation in the USA, said the head of the company Tim Cook in an interview with CNBC. The company plans to create an investment fund for the development of high-tech production in the United States.
● Tesla Increases Net Loss 40%. Tesla's Q1 loss increased to $330 million, despite more than doubling in revenue. Tesla CEO Elon Musk expressed confidence in, that the company will begin production of Model electric vehicles 3 in July. Also he said, that one day Tesla, maybe, will overtake Apple in market capitalization
● The US Congress will vote on the health insurance program
● Facebook revenue in Q1 2017 G. in annual terms increased by 49% to $8,03 billion, exceeding analyst expectations, predicting average revenue in $7,83 billion.
Net profit of the social network Facebook in the first quarter 2017 G. grew by 76% and made $3,064 billion against $1,738 billion a year earlier. Adjusted earnings per share were $1,04 compared to 60 cents in the same period last year.
● A million GM cars are gathering dust in warehouses. Alarming situation has developed in the US car market. Sales fall for the fourth month in a row, while the number of cars in warehouses increased to the level of the crisis 2009 G.
● The number of oil rigs in the US has doubled in a year
● Siemens 1Q results improved and beat analysts' forecasts
● Facebook revenue in Q1 2017 G. in annual terms increased by 49% to $8,03 billion, exceeding analyst expectations, predicting average revenue in $7,83 billion.
Net profit of the social network Facebook in the first quarter 2017 G. grew by 76% and made $3,064 billion against $1,738 billion a year earlier. Adjusted earnings per share were $1,04 compared to 60 cents in the same period last year.
● A million GM cars are gathering dust in warehouses. Alarming situation has developed in the US car market. Sales fall for the fourth month in a row, while the number of cars in warehouses increased to the level of the crisis 2009 G.
● The number of oil rigs in the US has doubled in a year
● Siemens 1Q results improved and beat analysts' forecasts
● Volkswagen CEO Matthias Müller improved the company's results, turning dieselgate into an opportunity to cut costs and implement other unpopular measures.
● Royal Dutch Shell's 1Q07 net income is strong on the back of cost cuts and a partial recovery in oil prices
● Shell, Exxon Mobil and other energy giants, overslept the shale revolution in the United States, now strive to be the first to repeat it in Argentina
● Anadarko Petroleum's share price on Wednesday fell by about 8% on Wednesday, as the authorities said, that the April bombing of an apartment building in Colorado was caused by a gas leak from her well. The explosion killed two people in the house.
● HSBC's first-quarter earnings beat analysts' forecasts amid rising interest rates. This increases the expectations of investors that, what will the bank spend additionally $2 billion to buy back shares
● Societe Generale agreed to pay 963 million euros to settle charges of bribery, to start working with Libya's sovereign wealth fund. The fund also accused the bank of, that he was misleading him about complex derivatives transactions.
Societe Generale's profit in the first quarter decreased by 19%
● Exchange operator Intercontinental Exchange (ICE) last year negotiated a merger with competitor CME Group, people who participated in them say. But it got nowhere. Some analysts consider, that ICE will again try to acquire the LSE Group
● Volatility Index BARELY, reflecting investor concern in the stock market, close to record low. But this may be due to the fact, that investors are finding alternative ways to hedge risks
● News and other organizations in the US were phishing attacks on Wednesday, disguised as a service Google Docs
● Adidas net profit increased by 30% to 455 € million in Q1 driven by sales growth in key markets in North America and China
Gapping down
In reaction to disappointing earnings/guidance:
- SRC -12.7%, ENTL -11.3%, FTK -11%, COMM -10.3%, CAKE -7.6%, GKOS -6.6%, RUBY -6.3%, AVP -5.8%, MITL -5.4%, BEAT -5.1%, SPIRIT -5%,
- CBL -4.4%, OUT -4%, RICE -4%, BCRX -4%, CTL -3.9%, CERS -3.8%, NUDE -3.8%, LB -3.4%, EYES -3.1%, FMSA -3.1%, LPI -2.9%, PXD -2.8%,
- IAC -2.8%, GOGO -2.8%, GSAT -2.8%, DDD -2.4%, LVLT -2.4%, MD -2.2%, EASE -2.1%, TSLA -1.9%, RIG -1.9%, AUY -1.9%, CRIS -1.9%,
- CAR -1.8%, PBF -1.7%, RYN -1.6%, DNKN -1.5%, WALL -1.3%,WMGI -1.2%, GTE -1.2%, ZUMZ -1.1%, MUX -1.1%, SSRI -1%, CNQ -1%,
- HII -1%, RFP -1%, FB -0.9%, ACHN -0.9%, QRVO -0.8%, TCAP -0.8%, OXY -0.8%, DIFFERENT -0.7%
Select metals/mining stocks trading lower:
- VALE -1.7%, HMY -1.4%, AKS -1.2%, ABX -1.1%, NO -1%, SLW -1%, X -0.9%, CLF -0.8%
Select oil/gas related names showing early weakness:
- MRO -1.5%, SDRL -1.9%, HES -1.8%, WLL -1.8%, CHK -1.1%, PBR -1.1%, BORN -0.9%, OAS -0.9%, THING -0.8%
Other news:
- BPMX -30.6% (phase 2b clinical trial evaluating BPX-01)
- WIN -22.1% (to delist from the NASDAQ, will suspend trading in the Company’s shares at the open of business on Friday, May 5, 2017)
- PETX -12.9% (prices registered direct offering of 5 mln shares at $5.25/share)
- LNTH -8.9% ( commences 3 mln common stock offering by its existing stockholders )
- GDDY -3.8% (announces public offering of 24,000,000 shares of Class A common stock; expects to repurchase, from the selling stockholders, an aggregate of $275 million of limited liability company units of Desert Newco)
- CVNA -2.6% (continued weakness)
- AMAG -1.5% (commences $250 mln offering of Convertible Senior Notes due 2022 )
- HNR -1.4% (Harvest Natural confirms payment of of $5.75 per share dividend to be completed May 4, termination of trading, and time of dissolution)
- MCRN -1.1% (prices 12 mln share common stock offering by certain selling stockholders at $17.20 per share)
- HUBS -1% ( to offer $300 mln aggregate principal amount of Convertible Senior Notes due 2022, in a private offering)
Analyst comments:
- FIZZ -5.8% (initiated with a Sell at Maxim Group; tgt $33)
- GRMN -1.5% (downgraded to Underweight from Neutral at JP Morgan)
- TSCO -1% (downgraded to Perform from Outperform at Oppenheimer)
Gapping up
In reaction to strong earnings/guidance:
- KPTI +29.6%, SITE +17.3%, TLRD +14.2%, SFS +11.6%, FIVN +11.1%, HIIQ +10.8%, HIVE +10.2%, ATSG +9.5%, TGB +8.9%, BCOR +8.5%,
- DATA +8.4%, FORM +8.4%, WTI +8.4%, AIRG +8.2%, AOSL +8%, FIT +7.4%, XPO +6.6%, PCOM +6.4%, Hero +5.8%, RAIL +5.6%, GNCA +5.6%,
- TVIA +5.4%, EBIO +5.4%, PIP +5%, SQ +5%, LGCY +4.9%, GTN +4.8%, GMED +4.7%, EMKR +4.7%, NVDQ +4.6%, HDSN +4.4%, BRKR +3.4%,
- HSBC +3.4%, HK +3%, OSUR +3%, HMHC +3%,VVUS +2.9%, ARRS +2.8%, SRI +2.6%, EXTR +2.4%, MFC +2.3%, EZPW +2.3%, MTDR +2.2%,
- WHITE +2.2%, HZN +2.1%, LHCG +2.1%, ICPT +2.1%, OMF +2%, CLVS +1.9%, COT +1.8%, GPN +1.8%, GLUU +1.6%, INCY +1.6%, WPX +1.5%,
- CLR +1.4%, RDS.A +1.4%, TWO +1.3%, I +1.2%, AGI +1.2%, PRU +1.1%, AIG +1.1%, STMP +1.1%, JCAP +1%, .
Other news:
- APHB +20.8% (still checking; light volume)
- SCON +14.6% (10% owner Director Kopp disclosed the purchase of 200K shares )
- MNKD +12% (Mannkind and One Drop enter into a collaborative agreement)
- CLSN +8.2% (announces updated date from its Phase Ib dose escalating clinical trial combining GEN-1 with the standard of care)
- RXDX +6.5% (prices 12.5 million share common stock offering at $6.15/share; gross proceeds expected to be $76.9 mln)
- KPTI +5.4% (Karyopharm Therapeutics and Anivive Lifesciences sign exclusive global license agreement for verdinexor; KPTI to receive $1 mln upfront payment and eligible to receive up to $43.5 mln in future milestones, plus royalties )
- SGMO +5.4% (granted orphan designation by the FDA for its compound for the treatment of hemophilia A)
- CTRV +5% (announces it is developing a second-generation formulation of TXL)
Analyst comments:
- FSLR +2.5% (upgraded to Buy from Neutral at BofA/Merrill )
- EMES +0.8% (upgraded to Buy from Hold at Stifel )
- JWN +0.8% (upgraded to Overweight from Neutral at Atlantic Equities)
Trader's blog
