Analytics, 26 November 2019
Daily comment Nov 26
- Wall St opens higher on trade hopes
- Alibaba showed strong HK debut
- PAGS -4.4% on rating downgrade
- NTNX +18.8% on strong 1Q
- WTI +0.8%
Market movers:
- Alibaba (9988.HK) closed 6.6% higher after its Hong Kong debut. (https://bloom.bg/37CRvmp)
- PagSeguro (-4.4%): JPM analyst cut the Co’ rating from overweight to neutral, setting a PT at $39 (~16% upside). (Bloomberg)
- Nutanix (+18.8%): The Co. reported 1Q EPS beat, in-line guidance. Rev. +0.5% y/y to $314.8mn vs est. $305.42mn. Adj. gross margin was 80.1% vs 78.6% q/q. Software and support revenue +9% y/y to $305mn. Adj. EPS. of -$0.71 vs est. -$0.75
- Disney (+1.5%): Disney+ added in average ~1mn new subscribers a day since the launch. DIS’ mobile app has been downloaded 15.5mn times. (https://bit.ly/2DiUjaA)
- Facebook, Twitter warned users of malicious activity in some Android apps. (https://on.mktw.net/2KPEWdV)
Macro:
- China officials signaled that a progress has been reached during a phone call with the US counterparts this morning. (https://bloom.bg/2pWootw)
- White House adviser Conway confirmed the progress, saying however three of the biggest sticking points remain - forced tech transfers, the theft of intellectual property and the trade imbalance. (https://reut.rs/33fFQqs)
- The Fed Chair indicated yesterday the monetary policy will remain on hold for now. (https://bloom.bg/33hT6ux)
Commodities:
- WTI (+0.8%): US crude inventories fell by 939k bls last week: Bloomberg survey.
- IEA head said, OPEC+ should make the right decision for a “very fragile” global economy. (https://reut.rs/2KW8HtH)
Coming up:
- On Thu (11/26): The US markets will be closed for Thanksgiving