Netflix earnings disappoint after the close today
Netflix (NFLX) shares fell 5.42% in after-hours trading (after closing 1% lower in the regular session) after the company reported additions to paid subscribers the missed estimates and lower guidance for the rest of 2020. Revenue for the company’s third quarter...
Stimulus optimism rally fades as stocks go into last hour of trading
The Standard & Poor’s 500 was up by as much as 1.42% at 1:48 p.m. New York time today on hope that House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin would agree on a stimulus deal by Pelosi’s deadline of the end of today for passing a...
If Europe is a preview of next coronavirus surge in U.S., the forecast is downright scary
Most governments in Europe relaxed their strict coronavirus lockdowns over the summer in order to breathe some life into economies hit hard by the first wave of the virus and efforts to control its spread. That “return to normal”, however, has led to a...
Pfizer says it will be ready to file for an emergency use application for its coronavirus vaccine by the third week in November
In a public letter Pfizer (PFE) CEO Albert Bourla wrote that the company hopes to have initial data from its Phase 3 clinical trail of a coronavirus vaccine by the end of October and that it will wait until the third week in November to file an emergency use...
At 898,000 this week’s initial claims for unemployment worse than expected
The number of new unemployment claims in regular state-run programs rose last week to a seasonally adjusted 898,000. That’s up 50,000 for the prior week and the biggest increase in first-time unemployment claims since August. The economy has clearly stalled with...
Taiwan Semiconductor Manufacturing raises 2020 revenue forecast again
Taiwan Semiconductor Manufacturing (TSM) reported earnings of 90 cents per American depositary receipt today on sales of $12.14 billion for the company’s September quarter. Net income climbed 36% year over year. Analysts had expected the company to earn 81...
Catching up on my October 5 buy of Twilio
This is something of a catch up post. On October 5 I added Twilio (TWLO) to my Jubak Picks and Volatility portfolios. I announced that buy in a post on October 2 and then again in my Special Report: “Your Investing Guide for the Next 6 Dangerous Stock Market...
Mnuchin says no stimulus until after election and market shrugs
Treasury Secretary Steve Mnuchin, the lead negotiator for the White House on an additional coronavirus stimulus package, emerged today, October 14, from telephone calls with House Speaker Nancy Pelosi, to say that the chances of a stimulus package before the November...
Adding Southern Copper with its 3.33% dividend to the (what else?) Dividend Portfolio
In my just completed Special Report: “Your Investment Guide for the Next 6 Dangerous Stock Market Months” on my JubakAM.Com site I wrote that I’d look to add some coronavirus recovery stocks to my portfolio during weakness in the November time...
Earnings season starts tomorrow morning with JPMorgan Chase and Citibank
The big banks kick off third quarter earnings reports tomorrow, Tuesday, October 13 with JPMorgan Chase (JPM) due to report before the open. The analyst consensus is that the bank will earn $1.93 a share, down from the $2.68 a share earnings in the September quarter...
Oil prices stall as Norway settles oil workers strike
Even as Hurricane Delta bears down on the Gulf Coast, oil prices fell today on news that oil workers in Norway had settled a strike that had shut down about 8% of the country’s production. The settlement will restore production at six fields already shut down by the...
Trump says “Stimulus” and stocks jump one more time–but I don’t think the President means it
President Donald Trump has figured out something very important about the stock market from his perspective: If he simply says “stimulus,” stocks jump. Even if he doesn’t really mean it. Even if he’s not putting in the work to get a coronavirus...
Initial claims for unemployment increase or fall or something–but whatever it is, the economy is stalling
The number of initial claims for unemployment for the week ended October 3 was 840,000, the Department of Labor reported this morning. That was above the 820,000 projected by economists surveyed by Bloomberg. And up, er, I mean down, from the 849,000 new claims...
For one more day, stock market buys politicians’ blather on coronavirus stimulus
Stocks climbed today with the Standard & Poor’s 500 up 0.80% at the close, as investors and traders decided that the talk out of Washington about another coronavirus stimulus effort was more than just pre-election hot air. The Dow Jones Industrial Average...
Hope supports airline shares today; logic not so much
After taking a beating yesterday afternoon when President Donald Trump tweeted that he was instructing Treasury Secretary Steve Mnuchin to end coronavirus stimulus talks with House Speak Nancy Pelosi, airline stocks are bouncing today after a late-night tweet from the...
Heads up! Tomorrow we get another (probably discouraging) report on new claims for unemployment
Initial claims for unemployment for the week ended October 3 will total 820,000 in tomorrow’s report from the Department of Labor, according to economists surveyed by Bloomberg. That would be a drop from initial claims of 837,000 in the prior week. The...
It looks like the odds of a coronavirus vaccine approval by November 3 are now close to nil
A day after the White House blocked the formal publication by the Food & Drug Administration of updated safety guideline for any emergency approval of a coronavirus vaccine, the agency “informally” published this standards in briefing documents posted...
This afternoon Trump kills coronavirus stimulus until after November 3 election
In a Tuesday afternoon Twitter post President Donald Trump said he opposed House Democrats’ $2.4 trillion coronavirus stimulus legislation.“Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way...
Twilio jumps 13% today on increase in company estimates of sale growth
Twilio (TWLO), which makes cloud-based software, climbed 13% today after analysts raised price-target after Thursday’s investors day event. (For example Morgan Stanley raised its price garget for Twilio to $270 from $240. I would note the stock closed at $290...
From the headline numbers on down, it’s bad news from today’s jobs report for September
The U.S. economy added only 661,000 jobs in September, the Labor Department reported today. That’s down from an upwardly revised 1.49 million jobs added in August. Economists surveyed by Bloomberg were looked for the economy to addd 859,000 jobs in September....
Why the President’s positive test for coronavirus led to a rally today in airline stocks
Every investor and trader has spent much of today speculating (either in words or dollars) on what President Donald Trump’s positive coronavirus test might mean for stocks. The Standard & Poor’s 500 closed the day, October 2, down 0.96% and the Dow...
Two bits of bad news on coronavirus vaccines today
First, Stephane Bancel, the CEO of Moderna (MRNA), one of the leaders in the coronavirus vaccine race, said that its covid-19 vaccine is not expected to be available for widespread use until the spring. The company, Bancel told the Financial Times, would not be ready...
Are tech stocks the new hedge against slow economic growth?
The economic news today was at best “not terrible.” Initial claims for unemployment for the week showed a job market recovery that has stalled. Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi adjourned their talks for another day without...
Market climbs on hopes for a coronavirus stimulus deal and then stalls as talks show no progress
Just in case you were trying to figure out how important a successful conclusion to the coronavirus talks is to the market–the answer today from stocks was “Very.” As of 1 p.m. New York time today, the Standard & Poor’s 500 was up 0.66%...
Disney turns furloughs into layoffs for 28,000 workers
I’m afraid that this is just a sign of bad things to come at lots of other companies for lots of workers. Disney (DIS), which had announced back in April that it would furlough more than 100,000 workers after the coronavirus pandemic forced the company to close...
This morning’s optimism about coronavirus stimulus talks fades in the afternoon but market still closes the day with a gain
This morning stocks moved up strongly on reports that Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi were about to resume talks over a new coronavirus stimulus package. As of noon, the Standard & Poor’s 500 was up 1.31% and the Dow Jones...
Downward momentum in stocks looks stalled–trend depends on news flow and the dollar
Today, Monday, September 28, as of 1:15 p.m. New York time the Standard & Poor’s 500 was up 1.60% to trade at 3352.78. Along with Friday’s 1.60% gain in the index, I think that shows the market’s downward momentum stalled for the moment. Only...
Lithium stocks bounce back as market downgrades Tesla threat
On Wednesday, September 23, shares of Albemarle (ALB) and SQM (SQM), the two dominant lithium producers in the world, fell 11.56% and 11.82%, respectively, on an announcement at Tesla’s (TSLA) Battery Day that the electric car maker would start its own lithium...
Stocks rally today–but I’d feel better if volume was higher and the same old big techs weren’t leading the day
Today looks like a strong rally but I’ve got my doubts. At the close the Standard & Poor’s 500 was up 1.60%. The Dow Jones Industrial Average was ahead 1.34%. The technology laden NASDAQ Composite was higher by 2.26%. The NASDAQ 100, dominated by the...Jim’s Daily Email Alerts:
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