If you've been paying attention in the past years, it seems that all anyone can talk about is the coming artificial intelligence boom on the horizon.Whether it's the Amazon, Google, or Facebook, everyone seems to be getting in on the AI game as fast as they can.
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Casino operator Las Vegas Sands (NYSE: LVS) has been trending lower since falling below its 50-day moving average back in June.A clear trend channel has formed and seems to be guiding the stock lower.
What is interesting is that the 50-day hasn’t been touched as it is just slightly above the upper rail of the channel, but running parallel to the rail.
The stock saw the so-called death cross of the 50-day dropping below its 200-day moving average in August and then fell approximately 25% from that point to the low in late October.
The fundamental picture for LVS is mixed.
Chinese social media company Weibo (Nasdaq: WB) is set to announce earnings on Wednesday, November 7 and the stock has been defying the odds in a certain manner.The stock has been trending lower since February within a clearly defined trend channel, but the company has some incredible fundamentals.
The daily chart shows the trend channel and how the stock has moved methodically lower over the last nine months.
On top of that, Apple has decided to use Intel chips instead of Qualcomm’s for its new iPhones.
Qualcomm reported a loss of 35 cents a share for the fiscal fourth quarter.Apple’s decision is likely to affect Qualcomm’s first fiscal quarter guidance for 2019, but CEO Steven Mollenkopf said, “this will become less impactful to our quarterly results" as they progress through the year.
The chipmaker is also facing challenges from weakening global smartphone demand, which might be a headwind to its Snapdragon MSM chips shipments.
Johnson Controls International plc reported strong fiscal fourth quarter earnings.
The industrial conglomerate's EPS of $0.93 was +7% higher from the year-ago period.The company projects its fiscal 2019 adjusted EPS to be in the range of $2.90 to $3.05, representing organic EBIT growth of 8% to 12%.
The company announced an additional $1 billion of share buyback plan.
In recent times, Walmart has reportedly been upping the ante on baby products, including the addition of a new version of its diaper brand.
However, the overall prices on Amazon were an average of 13 % lower than those on several other major online retailers, according to Profitero’s research.But for certain specific categories, Amazon could not offer the cheapest prices: Chewy.com’s pet supplies was 2.3% cheaper, while Jet.com had 0.4% lower prices than Amazon in Beauty and 2.6% cheaper offers in Music & CDs.
UBS, Switzerland's largest bank, is preparing for a legal battle with the U.S. Department of Justice.The DOJ is bringing civil charges against the bank for its sale of mortgage-backed securities just prior to the 2008 financial meltdown.
The DOJ has settled similar claims with Citigroup Inc., Deutsche Bank, JPMorgan Chase & Co., Credit Suisse Group, Morgan Stanley, Goldman Sachs, Bank of America Corp and Barclays Plc. Barclays reached a $2 billion settlement in March.
Separately, the government in France is asking a Paris court to fine UBS 1.6 billion euros or $1.8 billion for allegedly helping clients commit tax fraud.
Notwithstanding a searing trade war with the U.S., China’s exporters experienced a strong October.
Chinese exports surged +16% in October compared to the year-ago period.The tariff rate, which is now 10% on these goods, will be hiked to 25% by the end of the year – something that could have potentially accelerated demand for Chinese exports in October, before prices increase further.
Another possible factor behind the export boost could be a weakening Chinese yuan, which lost almost -10% in value against the U.S. dollar since February.
Denholm is currently the chief financial officer of Australian telecommunications company Telstra, and also a member of Tesla’s board.
This year, Tesla has been through a roller-coaster mostly in terms of headline-grabbing declarations from its CEO Musk and the consequent clashes with regulators.Although Musk can remain a board member and CEO of Tesla, he is not permitted to seek reelection as chairman for three years, per the settlement’s terms.
Denholm will start her new position at Tesla after completing her six-month notice period with Telstra.
Coty Inc.’s share prices slumped more than 22% on Wednesday as the makers of CoverGirl cosmetics were hit by an unparalleled supply chain disruption in two of its major markets, the U.S. and Europe, resulting into a steeper-than-expected decline in its first-quarter revenue and profit.
The multinational cosmetics and fragrance maker reported a decline of 9.2% in its first quarter sales to stand at $2.03 billion.However, excluding items, the company reported an adjusted profit of 11 cents a share for the quarter, beating analysts’ estimate of 7 cents a share.
West Texas Intermediate futures are already down 20% from the near four-year high.
U.S.oil production is already up a stunning 2 million barrels a day from the same period last year, and 400,000 barrels from the week earlier, based on weekly U.S. government data.
The Fortune 500 natural gas and propane company, Energy Transfer Partners, on Wednesday announced their Q3 2018 earnings report where it reported a Q3 GAAP EPS of $0.32.missing analysts estimates by $0.10.
But the adjusted EBITDA of ET totaled a record $2.58 billion, while revenues jumped 45% on a y-o-y basis to $14.5 billion for the quarter, beating the estimate by $1.37 billion.
Despite strong earnings results, the tepid rally in Microsoft (NASDAQ:MSFT) wasn’t adequate enough to elevate the stock amid a barrage of market-wide selling pressure.Instead, we saw Microsoft stock tumble from an October high of $116 down to $100.
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Shares of Starbucks (NASDAQ:SBUX) have brewed up a hot, strong stock price.Its earnings result on Nov. 1 sent shares higher by roughly 10%.
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The S&P 500 Index got a boost today from the healthcare sector.The results from the mid-term election -- with the House of Representatives being taken back by the Democrats -- almost certainly removes all risk of an Obamacare repeal and lowers the risk of any major legislative changes. The S&P Managed Care Index arguably rose to record highs as a result. Also, some states - Idaho, Utah, and Nebraska - voted to expand Medicaid, giving a boost to health-related stocks as well.
UnitedHealth, the largest U.S. health insurer, is gaining on the day as is Anthem.
Altria Group beat Q3 estimates of earnings-per-share (EPS) and revenue.Nu-Mark will sell only tobacco, menthol, and mint flavors of MarkTen and Green Smoke cig-a-likes until any further order from the FDA.
The conglomerate announced Tuesday that it is handing over its commercial LED making business Current to private equity firm American Industrial Partners.
GE's decision to sell its commercial lighting business comes merely three years after it was started to make LED technology, sensors, controls and software that were supplied to offices of companies like Walmart and JPMorgan Chase.Previously this year, GE revealed plans to spin-off its healthcare segment, and agreed to sell its 111 year old rail business to locomotive company Wabtech.
On Tuesday, GE also completed the $3.25 billion sale of its distributed power segment to private equity company Advent International.
After years of lazy coasting that mostly leveraged the well-established Intel name, a largely-left-for-dead AMD came roaring back with a new product lineup that its bigger rival just wasn’t ready for.Advanced Micro Devices is going to beat Intel to the 7 nanometer finish line, much to the chagrin of INTC stock owners.
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The upper rail of the cycle is in the same area as the 50-day moving average and that means the stock has two layers of resistance to break through.
Something else to take note of is how the daily stochastic readings have only reached overbought levels in two instances over the last six months.Both times were when the stock was at the top of the channel.
In addition to the technical pattern that has been guiding the stock lower, the fundamentals are pretty poor.
The Nasdaq’s loss was its worst since November 2008.
The Russell also lost ground in September and that put the index in oversold territory based on a couple of indicators.Using the iShares Russell 2000 ETF (NYSE: IWM) as a barometer for the index, we can see just how oversold the Russell was.