Written by Gary
Twitter racks up its second $1 billion quarter, sending shares toward a 52-week high (SPY +0.5%). Coca-Cola earnings top estimates and treasury yields tumble.
Here is the current market situation from CNN Money | |
 | European markets are mixed today. The FTSE 100 is up 0.12% while the CAC 40 gains 0.10%. The DAX is off 0.02%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Morgan Stanley: Gasoline Industry Is About to Become Totally WorthlessThe average energy investor is by now well aware of the sector’s monumental shift from fossil fuels to renewable energy. Coal-powered power plants have been shuttering at an alarming clip as the price of electricity from natural gas and renewables undercuts them while wind and solar generation continue to gain the ascendancy. But nowhere has this change been as dramatic as the transport industry, with EV titans such as Tesla Inc. (NASDAQ:TSLA) and NIO Ltd. (NYSE:NIO) now commanding substantially higher valuations than their imposing ICE brethren, |
| 2 Under The Radar Electric Vehicle Stocks That Could Soar In 2021The green energy boom took the mainstage in 2020, and now many are predicting it could reach new heights in 2021. Some of the biggest gains in the market came from companies pushing electric vehicles forward last year. Tesla rose 740%, making Elon Musk the worlds richest man and putting Tesla near the top of the S&P 500. It also led to gains of over 1,000% – thats a 10x return – from companies like Blink Charging. But with all that success comes the inevitable question: where do we go from here? Well, given the success of green |
| Can Exxon Bounce Back From A Disasterous 2020?Globally integrated energy supermajor ExxonMobil was severely mauled during 2020. The company reported a massive 2020 full-year loss of $22 billion, its worst performance in roughly 40 years, after being severely impacted by the fallout from the COVID-19 pandemic and March 2020 oil price collapse. By mid-2020 there were even analysts claiming that Exxon was a zombie company only generating sufficient cash flow to service its debt but unable to pay down its considerable financial obligations. It was Exxons mammoth fourth quarter 2020 $20 |
| Can The Steel Industry Survive Without Coal?The world is moving steadily away from coal. The emissions-heavy fossil fuel is public enemy number one in many, if not most, clean energy and climate smart initiatives and campaigns, and its not even that economically viable anymore. For a long time coal was king in many economies around the world because it was cheap and plentiful, but as of last year solar and wind were cheaper than coal in most of the world. All of this is to say that coals days are numbered…but theyre not over yet. Not by a long shot. China, which |
| Oil Prices Slip On Large Gasoline BuildThe American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 3.500 million barrels for the week ending February 5. Analysts had predicted an inventory build of 985,000 barrels for the week. In the previous week, the API reported a draw in oil inventories of 4.261-million barrels, after analysts had predicted a build of 446,000 barrels. Oil prices were trading up on Tuesday ahead of the data release, buoyed both by OPEC-driven optimism and the looming stimulus rollout that some are hoping will drive up oil demand. |
| Saudi Arabias Central Bank Just Made A Historic MoveSaudi Arabia has recently overhauled the role of its central bank, for the first time ever, in a move that could mark an acceleration of Crown Prince Mohammed bin Salmans massive plans to reinvest Saudi oil revenues into diversification projects. In November 2020, Saudi Arabias King Salman bin Abdulaziz Al-Saud approved the new law for the central bank, under which the authority is now changing its name from the Saudi Arabian Monetary Authority to the Saudi Central Bank, and will directly report to the King. The Saudi |
| GM warns chip shortage could cut 2021 earnings by up to $2 billionThe automaker reported pretax adjusted earnings of $5.3 billion for the third quarter, while advising the fourth quarter would be weaker due to seasonality. |
| Coca-Cola earnings top estimates as cost cuts offset pandemic’s blow to salesCoke’s net sales dropped 5% to $8.6 billion in the fourth quarter, missing expectations of $8.63 billion. |
| Under Armour shares rise as retailer reports surprise profit for holiday quarterUnder Armour on Wednesday reported a surprise profit for the holiday quarter as sales were boosted by strong digital growth. |
| Long-haul symptoms should be a ‘wake-up call’ for young people when it comes to avoiding Covid, Texas Children’s doctor saysMedical researchers still don’t know whether patients with post acute Covid syndrome will be dealing with the effects for the rest of their lives, or just a matter of months. |
| 5 things to know before the stock market opens WednesdayU.S. stock futures rose Wednesday after a late-day fade broke six-session winning streaks for the Dow and S&P 500. |
| With a consumer spending comeback expected, this could be the game planChipotle and Disney shares are poised to benefit from an expected surge in consumer spending this year, says Laffer Tengler Investments CIO Nancy Tengler. |
| Biden’s $1.9 trillion Covid relief package has support from 63% of small business owners: SurveyA majority of small business owners support the $1.9 trillion Covid relief package being pursued by President Joe Biden, according to a CNBC survey. |
| Danish firm Vestas launches jumbo offshore wind turbine to match rivalsAs technology has developed, the size of wind turbines has increased. |
| J&J CEO says people may need annual Covid vaccine shots for the next several yearsPeople may need to get vaccinated against Covid-19 annually, just like seasonal flu shots, over the next several years, J&J CEO Alex Gorsky told CNBC. |
| Canopy Growth stock surges 12%, company expects a profit by second half of 2022Canopy Growth shares rallied Tuesday after the Canadian cannabis company said it expects to be profitable by the second half of 2022. |
| Germany set to extend lockdown on concerns over new coronavirus variantsChancellor Angela Merkel is set to announce Germany will extend its lockdown until March 14 amid concerns over new strains of the coronavirus. |
| Biden’s next fight: Anti-vaxxers jeopardize plans to protect U.S. against CovidThe U.S. needs to vaccinate between 70% and 85% of the population quickly ” before new mutations take hold and reduce the effectiveness of current vaccines. |
| Walgreens executive says widespread Covid vaccines will be available in the springWalgreens will start vaccinations Friday at some stores but will have limited doses for only high-priority groups. |
| Treaury Yields Tumble As Core CPI DisappointsTreaury Yields Tumble As Core CPI Disappoints US Consumer Prices were expected to rise for the 8th straight month in January and it did rising 0.3% MoM as expected, leaving year-over-year prices rising at 1.4%…
Source: Bloomberg However Core CPI missed expectations, unchanged in January compared to an expected 0.2% MoM rise.
Source: Bloomberg Used Car prices and Food-at-home saw MoM declines as Energy costs and Apparel saw the biggest rises… |
| China Spacecraft Enters Orbit Around MarsÂChina Spacecraft Enters Orbit Around Mars While space is becoming the next battleground domain for superpower rivalry between the US and China, China announced Wednesday morning its Mars space probe, Tianwen-1, has “successfully” entered the red planet’s orbit. “China’s first Mars probe Tianwen-1 has successfully entered the orbit of the red planet after a crucial “brake” to decelerate and be captured by Mars gravity,” according to China National Space Administration (CNSA).
CNSA told state-run Global Times after a 15-minute firing of its 3,000-newton engines, Tianwen-1 “reached an elliptical Mars orbit at around 400 kilometers from the planet.” After surveying the planet, Tianwen-1 will select a landing spot and touch down between May and June. AP News also confirms that the Chinese orbiter-rover has entered the orbit around Mars, becoming the second space … |
| GM Pumps And Dumps After Strong Beat But Warns On Chip Shortage; Guides LowerGM Pumps And Dumps After Strong Beat But Warns On Chip Shortage; Guides Lower General Motors reported earnings this morning, beating street estimates of $1.57 by posting $1.93 per share in net income. The company also beat on revenue of $37.5 billion versus estimates of $36.12 billion. The beat comes despite the costs the company had to bear due to the Takata airbag recall during the quarter. The sterling beat, however, was offset by a downbeat 2021 EPS guidance range of $4.50-$5.25, which was well below expectations of $5.99. One reason for the weak guidance – the company warned that the ongoing semiconductor could clip as much as $2BN in earnings. Shares spiked initially but reversed course as traders digested the company’s cautious outlook.
Some more details: Q4 Revenue 37.52bln, vs exp. 36.12bln. Q4 Adj. EPS 1.93, vs exp. 1.64. FY2021 guidance fell below the street’s expectation of $5.99. GM said it expects EPS for the coming year to be in the $4.50 to $5.25 range. FY21 capex view 9-10bln “including accelerated EV/AV investments … |
| Futures Rise For 8th Day In A Row, Hit All Time High Ahead Of CPI, PowellFutures Rise For 8th Day In A Row, Hit All Time High Ahead Of CPI, Powell Global shares continued their euphoric ways, rising for the eighth day in a row, reaching record highs as market sentiment was improved by the prospect of U.S. fiscal stimulus and vaccine rollouts. U.S. stock futures also rose to new all time highs, hitting 3,924 before paring some gains, suggesting a resumption of gains after a one-day break as earnings and optimism over improving virus trends helped support sentiment while investors looked to inflation data and a speech by Federal Reserve Chair Jerome Powell for clues on the pace of an economic rebound.
Tilray Inc. led gains in the premarket session, climbing 31% in an extension of Tuesday’s 41% surge after the company signed a deal to distribute medical cannabis products in the U.K. Eli Lilly and Co became the latest drugmaker to receive an emergency use authorization from the U.S. Food and Drug Administration for its combination antibody therapy to fight COVID-19. Its shares rose 2.1% in premarket trading. The reflation trade continued to be the … |
| Sainsbury’s takes on Aldi in supermarket price warThe UK’s second-largest supermarket joins Tesco in promising to price-match German discounter Aldi. |
| Beer and pub leaders plead for reopening date after sales halve in 2020The industry shows the government a “roadmap to recovery” as it waits for a reopening date. |
| Heineken cuts 8,000 jobs after Covid hits salesThe brewing giant said 2020 had been a year of “unprecedented disruption”. |
| SpiceJet reports Q3 net loss of Rs 57 cr as against Rs 77 cr profit last yearThe airline said that it has significantly improved its numbers over the second quarter of the current fiscal, when it had incurred a loss of Rs 112.6 crore. |
| ITC firing on all cylinders. Will Q3 earnings come as a shot in the arm?Against all expectations, the government kept the cess and taxes on tobacco and cigarettes unchanged. ITC is the market leader in cigarettes with nearly 80 per cent market share. |
| With cheaper home loan, SBI out to give HFCs a run for their moneySBI aims to leverage its low cost of borrowing, which allows it to offer very competitive interest rates. |
| January 2021 CPI: Year-over-Year Inflation Rate UnchangedWritten by Steven Hansen According to the BLS, the Consumer Price Index (CPI-U) year-over-year inflation rate was 1.4 % year-over-year (unchanged from the reported 1.4 % last month). The year-over-year core inflation (excludes energy and food) rate improved from 1.6 % to 1.4 %.
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| MarketWatch First Take: Cisco faces uncertainties as many continue to work from homeNetworking giant Cisco Systems Inc. is looking for slight revenue growth next quarter, which would be its first growth since November 2019, but some of its core equipment businesses are still hurting from the pandemic. |
| Earnings Results: Cisco earnings top Street’s expectations, but non-infrastructure sales don’tCisco Systems Inc. shares declined in the extended session Tuesday after the maker of network services, videoconferencing tools and security software’s quarterly results topped Wall Street estimates, but sales in certain segments came in below expectations. |
| Earnings Results: Twitter racks up its second $1 billion quarter, sending shares toward a 52-week highTwitter Inc. posted its second-ever $1 billion quarter on Tuesday, sending its shares up nearly 4% in after-hours trading. |
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