Analytics, 27 November 2019
Daily comment Nov 27
- Wall St opens higher on upbeat economic data
- US markets will be closed tomorrow for a holiday
- US 3Q GDP revised higher
- AAPL +0.5%, to increase AirPods production
- Alibaba will be added to HK index
- ADSK +1.7% on 3Q EPS beat
- WTI -0.2%
Market movers:
- Apple (+0.5%): The Co. reportedly asked Chinese manufacturer Luxshare-ICT to double AirPods Pro production to 2mn units a month. (https://s.nikkei.com/35EykH4)
- Amazon (+0.5%): Pivotal Research analyst cut PT on Co’ share to $2,100 (17% upside) from $2,500 saying the consensus estimates “remain stubbornly too high”. (Bloomberg)
- Alibaba (9988.HK) will be added to Hang Seng Composite Index and sub-indexes on Dec 9. Shares in HK advance for the 2nd day. (https://bit.ly/35vRQpk)
- Yandex (+2%): President Putin signed a bill allowing creation of international funds under Russia’s jurisdiction. It will enable Yandex to implement its recently announced changes in corporate structure. (https://reut.rs/33pvynI)
- Autodesk (+1.7%) reported 3Q revenue and EPS beat, missed on guidance. 3Q rev. +27.5% y/y to $842.7mn vs est. $823.9mn. Adj. EPS +169% y/y to $0.78 vs est. $0.72. Sees 4Q rev. of $880-895mn and EPS of $0.86-0.9. (https://bit.ly/2ru3Ysg)
Macro:
- President Trump stated that US-China “phase one” talks are near the final stage. (https://bloom.bg/2XRa2XP)
- The next phase of the impeachment hearing is scheduled on 4 Dec where President Trump has been invited. (https://bloom.bg/2qTs0N8)
- US 3Q GDP +2.1% vs preliminary reading +1.9% and +2% in 2Q. (https://cnb.cx/37Jw17u)
- US durable goods orders for Oct: +0.6% vs est. -0.8% and -1.4% prior revised. (https://bit.ly/2si8zOp)
- US weekly jobless claims: -15k to 213K vs +223k and prior revised 228k. (https://bit.ly/35BTplB)
Commodities:
- WTI (-0.2%): The US stockpiles rose by 3.64mn bls last week: API
- According to Rosneft, its new Russkoye field started oil deliveries to pipeline. (https://reut.rs/2rAx1tZ)
- Russia’ oil output from Nov. 1-26 exceeded its OPEC+ quota. (https://bloom.bg/2OMLRWt)
Coming up:
- On Thu (11/26): The US markets will be closed for Thanksgiving.