Analytics, 23 December 2019
Daily comment Dec 23
- Wall St opens higher ahead of the Holiday
- China to cut tariffs on some US products
- Boeing CEO resigned
- DIS -0.5% after disappointing “Rise of Skywalker debut”
- AAPL +0.6%, NVDA +1% on target upgrade
- TSLA +1.8%, set to take new loan for China factory
- WTI -0.3%
__Corporate news: __
- Boeing (+3%): The Co. announced this morning its CEO Denis Muilenburg is resigning. Current Chairman will take a position in January. https://yhoo.it/35OSwqg
- Disney (-0.5%): “Star Wars: Rise of Skywalker” brought in ~$176mn (down 20% from “Last Jedi” debut) in North America over the weekend. https://on.wsj.com/2SlXreq
- Apple (+0.6%): Wedbush analyst raised his Apple PT from $325 to a new Street-high $350 (~25% upside); maintained Buy recommendation. – Bloomberg
- Tesla (+1.8%): The carmaker will reportedly take a new $1.4bn loan facility for its Shanghai Gigafactory. The loan will be partially used for rolling-over the previous company’s debt. https://reut.rs/2ZhtDku
- Nvidia (+1%): Wells Fargo raised PT to $270 from $240, naming the company its top semiconductor pick for 2020. https://bit.ly/2tMo423
Macro:
- China will remove tariffs on 859 types of goods beginning 1 Jan. The list will include among others pork and some types of medicine. https://on.wsj.com/39606Pr
- China wights more RRR cuts to support small companies with lower financing costs. https://reut.rs/35OEogI
Commodities:
- WTI (-0.3%): Russia hinted OPEC+ pact may consider easing output cuts next year. https://reut.rs/2EObstv
- Russia and Ukraine struck a deal for gas transit for the next 5 years, under which Russia will pay Kiev $2.9bn settlement. https://reut.rs/2MnxuY4
- Total and Apache will create exploration JV in Offshore Suriname. https://reut.rs/2ZgmmBC
Coming up:
- On Tue (12/24): The US markets will close earlier at 1:00 PM (EST)
- On Wed (12/25): Christmas holiday, US markets will be closed.