You might be getting motion sickness by now. The up and down jerking of the market is enough to make one sick. Futures are +150 and the Nasdaq is heading for a +50 open. There is a lot of good news this morning, none as big as Bitcoin breaking higher again. It seems, and correct me if I’m reading this wrong, but the cryptos are signaling risk appetite is back. A fresh crop of newly minted SHITCOIN investors are about to buy some lambos. This move has been building slowly — but here we are BTC $9,300 and ETH encroaching on $700 again.
My portfolio of cryptos is +50% over the past two weeks and I’m looking to again add to it — seeing that the HODLers are back and all. However, firstly, we need to bank some coin in the proxies, while of course avoiding the typical hazards of investing in horribly operated companies. First and foremost, get long OSTK and enjoy the ride.
Gold, oil and copper all higher, the latter up 1.7% — which is boolish for China stocks.
I’m taking a personal day off today, which will be spent in NYC for my daughter’s birthday. If you see me sauntering around NYC, you may not approach me or ask for autographs. However, if you should notice that I am instead traversing or even idling you may come say hello. I want you to pay attention to the distinction, for the former can get you killed.
Also, Amazon is now delivering packages to the trunk of your car.
Unlocking delivery possibilities: With Amazon Key, millions of Prime members can now have packages delivered inside their cars at no extra cost. https://t.co/HOtOpl9Etv pic.twitter.com/Sxg4Fdcf6F
— Amazon News (@amazonnews) April 24, 2018
Here are some other headlines moving markets this morning.
Gapping up
In reaction to strong earnings/guidance:
- CDNS +13.2%, SANM +12.3%, WFT +8.1%, SRCI +6.8%, EDU +6.1%, ATI +5.9%, SLM +4.5%, WHR +4.4%, HLX +4%, CAT +4%, SAP +3.7%, HOG +3.6%, MDR +3.6%, CBI +3.1%, RUSHA +3%, VZ +2.9%, UTX +2.6%, CR +2.2%, FITB +1.9%, ZION +1.8%, AMP +1.5%, JBLU +1.5%, PHM +1.3%, KO +1.2%, LMT +1.2%
M&A news:
- MITL +8.8% (to be acquired by an investor group led by affiliates of Searchlight Capital Partners in an all-cash transaction valued at approx. $2.0 billion; MITL shareholders to receive $11.15 per share in cash)
- TRMB +4.9% (Trimble to acquire privately-held Viewpoint from Bain Capital in all-cash transaction valued at $1.2 billion – expected to be completed in Q3; expects first quarter revenue to be above the high end of the range of prior guidance)
- SHPG +4% (Shire plc: Takata (TKPYY) close to agreement to acquire SHPG following improved offer to GBP 47.00/share, according to Bloomberg)
Other news:
- EVLV +33.3% (Amazon said to have held acquisition talks with Evine Live (EVLV), according to TechCrunch)
- TNDM +3.5% (entered into distribution agreements with Australasian Medical & Scientific and New Zealand Medical & Scientific to commercialize Tandem’s t:slim X2 Insulin Pump in Australia and New Zealand)
- ALNY +2.9% (announces new results from the APOLLO Phase 3 study )
- CYTK +2.8% (presents data from the Phase 2 clinical study of reldesemtiv in patients with spinal muscular atrophy)
- ZYME +2.6% (Zymeworks announced that Celgene (CELG) exercised its right to expand its collaboration agreement for the research, development, and commercialization of bispecific antibody therapeutics using Zymeworks’ Azymetric platform)
- LQ +2.2% (ticking higher after Sohn announces SohnIdeaContest winner — Andrew Walker of Rangeley Capital with LQ submission)
- NWL +2% (announced its first quarter 2018 earnings results will be released Friday, May 4; Starboard filed its definitive proxy statement as announced before the open), TSRO +2% (positive top-line results from Quadra trial of ZEJULA)
- EBAY +1.7% (eBay and PayPal finalize new payments agreement)
- PRTA +1.7% (after today’s 25 point / 69% decline)
- BSX +1.3% (announces one-year data from INTREPID study on advanced, levodopa-responsive Parkinson’s disease)
- AMZN +1.2% (Glenview Capital’s Larry Robbins said at Sohn that rumors of Amazon moving into pharma are untrue)
- BA +1.1% (Boeing and Ryanair (RYAAY) final order for 25 additional high-capacity 737 MAX 8 airplanes worth $3 bln at current list prices)
- NTEC +1% (presents data collected from two Phase 1 studies of its proprietary Accordion Pill Carbidopa/Levodopa )
Analyst comments:
- DISCA +3.1% (upgraded to Buy from Hold at Deutsche Bank)
- IQ +2.5% (initiated with a Buy at Citigroup)
- BP +1.3% (upgraded to Buy from Neutral at Goldman)
- HD +0.8% (initiated with Outperform ratings at Wells Fargo)
- LOW +0.7% (initiated with Outperform ratings at Wells Fargo)
Gapping down
In reaction to disappointing earnings/guidance:
- CVNA -6.5%, (also commences 10 mln share follow-on public offering of Class A common stock — includes 4 mln by selling stockholders), SHW -4.6%, MAS -3.4%, MMM -3%, SAN -2.9%, AMTD -2%, TRV -2%, BIIB -2%, CNC -1.9%, TVTY -1.1%, MLI -1.1%
Other news:
- EPZM -15% (announced that U.S.-based enrollment of new patients into tazemetostat clinical trials is temporarily on hold)
- AGO -4.9% (dips lower in after hours trade after Greenlight Capital’s David Einhorn voices concerns at the Sohn conference)
- INCY -4.6% (following FDA advisory committee meeting for baricitinib)
- JOE -3.9% (speculation that JOE will be next Kerrisdale short target)
- CASA -3% (files for 7.35 mln share common stock offering by holders including Chief Executive Officer and other officers and directors; announces partial lock-up release)
Analyst comments:
- HSIC -1.3% (downgraded to Neutral from Buy at Goldman)
- SWKS -0.7% (downgraded to Neutral from Buy at Mizuho)
If you want to spot Le Fly in NYC – just look for the only guy wearing shorts.
Gentlemen never wear shorts. I haven’t worn shorts since 2009.
You are correct. Gentle, as in feminine, men never wear shorts. On the other hand, strong alpha males are not threatened by shorts; thus, exposing their large, muscular, tanned, ripped manly calves, being comfortable and taking up a large space around them (puts his shorts on). Now, if you are truly threatened by shorts, you might be a GIGANTIC CLOSET FAGGOT.
As is often the case, we must look back to the 1980s for proper examples of American Masculinity. Is it any wonder that when power steering meant large forearms men wore extremely tight, extremely short shorts?
I believe in coincidences, but this is not one.
The good old days when real macho men wiped their asses with sandpaper and did not flinch. Unlike these days when emasculated feminine betas require 3-ply cottonelle to wipe their ass.
It’s also not a coincidence that blue-collar jobs have beed denigrated sicne the ’80s eithr..
The Millenials did what they were told: they got degrees, with no cost benefit analysis because they were told that wasn’t needed. Grade infaltion + large supply make those degrees even less useful than they were just 15 short years ago, even as the price of said degree doubled.
Rapturously describing men’s legs might be taken as a sign of something, too. Not that there is anything wrong with that.
Or you might be a girl. Nothing wrong their, either, and could explain a few things.
I am a left-handed transgender Muslim that requires a hearing aid and a therapy dog at all times.
Any other questions?
Male to female transgender or female to male?
Thanks.
As you likely know, I have always been female. Just because my anatomical makeup is extremely similar to that of a male insofar as the genital region is concerned is not reason to pretend that I have ever, EVER, been a male.
Please apologize immediately or I will have you arrested.
shorts + t-shirt = okay
In fact, most real sports played in 70° weather require them
shorts + collared shirt = tool
shorts + long-sleeved button-up + baseball cap = “where’s the keg of cheap, watered down piss that i can use for our game of beer pong?”
Or sandles (if not in a gym shower) Manhood is revoked on sight.
Have fun wearing pants and shoes when it’s 100 degrees outside in Texas combined with the humidity of New Orleans in July.
Flip flops are the official footwear of Americans. Please, take your closed toe shoes back to Somalia. As a free people, we have no need for them during the summer months.
I have stopped using gym showers……….
sandals*
free people don’t live in south
Nice headline summation. Thanks.
what yinz bitches buying today?
I’ve been clearing out my positions for the past week, and am pretty much all out as of this morning. I think the tenor of the market has changed, and we’re no longer in BTFD/bull mode. People have become fearful. They have become sensitive to headline risk they would have previously ignored. Stocks will trade sideways or down for the next 3 months. I’m not usually a follower of sell in May and go away, but this time it’s convenient. I’ll start buying again in September, or if we get a steep pullback.
That’s my amateur analysis.
STFR
you appear to be an expert who knows everything. why is russia hoarding this useless phyzz pet rock? Are they stupid? dont they have anything better to buy with their surplus filthy (((confetti)))?
https://tinyurl.com/y86pgezc
They’re going to build a giant statue of Putin.
Taken to the woodshed on Square today. Been a great year. Maybe sell in May makes sense for now.
Of course OA would be taking this all as a buy signal. I miss that guy.
Is that what he’s saying? I still follow him on Twitter.
No. I’m just channeling his extreme contrarian nature. I’d love to hear what he’s saying now.
Trumpie schooling the lefty press on world peace
“Sell in May”
This reminds me of an article I had read that talked about how investing REALLY works. Your opinion of a company’s value doesn’t matter. In fact the opnion of waht other people think a company’s value is, doesn’t matter either. What matters is “common knowledge”: other people’s opinions of what they think most people beleives.
For example, I’m on record saying that NFLX is overpriced, and I’ve shown my work on why I think that is. I’ve done this on multiple forums (not jsut here), and ***no one has ever even tried to dispute my work***. If you look at Wall Street analyst, very few of them even **attempt** a bottom-up *fundamental* evalution of NFLX, instead just lookign at price action.
Credit Suisse does do a bottom-up evalution. They estimate cash flow going ourt five years, and then put a multiple of that to come up with a present value for the stock. Every one of ther reports for the last 3 years has been **wrong.** For example, they estimate a postive cash flow for NFLX in 2019 in their most recent report. However, even NFLX executives say that cash flow will be negative in 2019. So why does CS think it will be positive?
It boils down to 1 set of estimates: how much will NFLX spend on content in the future. Actaul content cost icnrease has been 38%, over just the last 2 years. At that rate, it will increase by another 124% over the next 5 years. However, CS believes that the contetn costs will be a *tad* smaller: ? Content costs increase: 3.3% (that’s *total* over 5 years, not even annual). Now there’s absolutely no way that a Wall Street analyst can *actually* belevie that. Even 2% annual inflation would bump that to 11%.
In other words, while everybody who can do the math *knows* that NFLX is overpriced, they don’t know that evrybody else thinks the same thing: common knowledge is that growth makes valuation meaningless. Until that changes.