Analytics, 23 January 2020
Daily comment Jan 23
- Wall St opens in the red amid mixed earnings, China virus concerns
- PG -0.4% despite upbeat outlook
- UBS boosted PT on NVDA
- BoA sees strong AAPL earnings
- ECB keeps rates on hold, plans strategic review
- WTI -2.7%
Companies:
- Procter & Gamble (-0.4%): The Co. topped 2Q profit estimate, provided upbeat guidance. 2Q Net sales. +5% y/y to $18.24bn vs est. $18.11bn. Adj. EPS +14% y/y to $1.42 vs est. $1.37. P&G sees FY20 sales growth of 4%-5% vs +3%-5% prior view and est. +4.5%; sees FY20 EPS growth of +8%-11% vs est. +9.5%. https://bit.ly/2Gf6lTF
- Nvidia (-0.4%): UBS raised its PT on security to $300 (~19% upside) from $240, maintaining “buy” recommendation. https://bit.ly/2TOCkSH
- Apple (-0.5%): Bank of America raised its PT to $340 from $330 ahead of the earnings results, citing strong demand on iPhone 11. https://bit.ly/36kFe4n
Macro:
- China halted most types of transport in Wuhan and Huanggang cities to prevent further spread of Coronavirus, that killed 17 and infected ~600 people. https://reut.rs/3aDkOaf
- UK’s Parliament passed Brexit legislation that will then go to Queen for signing as soon as Friday. https://reut.rs/2RlFRGH
- ECB decided to keep the rates unchanged. ECB president Lagarde now is preparing framework for the first strategic review in 16 years. https://reut.rs/36jJroQ
Commodities:
- WTI (-2.7%): Oil futures fell amid speculations around China’ Coronavirus and potential effects on oil demand.
- US crude inventories rose 1.57mn bls last week: API. Bloomberg
Coming up:
- Companies to report earnings this week: Procter & Gamble, Intel, American Express and Hyundai.