1. ‘Punxsutawney Phil’ predicts winter blast will soon end (Reuters)
2. My Mother Was a Betting Woman (New York Times)
3. Trump: ‘Good chance’ he will declare emergency for wall money (Yahoo)
4. Can the Fed Stave Off the Next Recession? (Barron’s)
5. Someone’s Making a Big Bet on a Border Wall (Barron’s)
6. Opinion: The evidence is in: Stocks are in a ‘bull trap’ (Market Watch)
7. Crypto Is Over: Paris Fintech Summit Returns to Disrupting Banks (Bloomberg)
Insider Buying
On 1/28/19, Huntley Garriott – the President of Live Oak Bankshares, Inc. (LOB) – purchased 20,000 shares of stock at $13.82 for a total out of pocket purchase of $276,400. Other insiders added ~$127,000 of purchases in the same 24 hour period.
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Earnings update. Due for a rest?
Per FactSet, eps and revenues continue to beat by 70% and 62% respectively – after 46% of S&P 500 having reported Q4 earnings so far. Guidance is a bit light but 2019 eps estimates remain ~$170 per share. We may need a few weeks of rest to consolidate the January gains. Here is why: Continue reading “Earnings update. Due for a rest?”
Be in the know. 5 key reads for Friday…
- The economy adds 304,000 jobs in January, smashing expectations as the unemployment rate rises (Business Insider)
- Chevron shares rise as quarterly profits beat Street forecast (CNBC)
- Amazon Posts Record Earnings But Stock Falls (CFO)
- Exxon Mobil’s fourth quarter profit tops estimates as volumes rebound (Reuters)
- Where’s The Progress On Trump’s China Trade Talks? (Forbes)
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Unusual Options Activity
It looks like someone is fading the “good news” from GE this morning.
Today some institution/fund purchased 123,300 contracts of March 8 strike put (or the right to short 12,330,000 shares of General Electric GE at $8). Continue reading “Unusual Options Activity”
Insider Buying
Yesterday, Richard Kinder – Executive Chairman of Kinder Morgan KMI – purchased 65,260 shares of his company’s stock at $17.95/share for a total out of pocket cost of $1,171,410. This is on top of $8,776,500 he purchased Continue reading “Insider Buying”
Be in the know. 5 key reads for Thursday…
- Tesla Stock Waffles On Earnings, Another Executive Departure (Investor’s Business Daily)
- Intel Slumps as Wall Street Scrutinizes New CEO Swan’s Pedigree (Bloomberg)
- Pelosi: ‘There’s Not Going to Be Any Wall Money’ (CNS News)
- Trump Today: President conditions China trade deal on opening up markets to U.S. farm, manufactured goods (Market Watch)
- The Threat of a Eurozone Recession (Project Syndicate)
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AAII Sentiment indicator
I was a little surprised to see the AAII sentiment survey results this morning. I had expected to see the Bullish Sentiment back over 40 giving reason to lighten up a bit – but it has dropped down to 31.76%. This could Continue reading “AAII Sentiment indicator”
Insider Buying
Director Michael Schmertzler purchased $1,999,995 (66,225 shares) of PTC Therapeutics, inc. PTCT stock through his fund Sections Six Partners, LP on 1/25/2019. The stock was down ~40% off of its Oct 1 peak at purchase.
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Unusual Options Activity
Today some institution/fund purchased 8,005 contracts of March 8 strike calls (or the right to purchase 800,500 shares of Chinese electric car maker Nio, Inc. NIO at $8). The open interest was 5,583 prior to this purchase. Continue reading “Unusual Options Activity”