Microchip Trades below Moving Averages
Microchip has generated returns of -14.43% in the trailing 12 months (or TTM) for investors and -1.86% in the trailing one-month period.
On August 25, 2015, Microchip announced a collaboration with Intel in order to enhance privacy and security in the Internet of Things (or IoT) products.
On August 3, 2015, Microchip announced its acquisition of Micrel Inc., where 98.95% of Micrel shareholders approved the merger and voted in its favor.
Microchip expects its net sales to be in the range of $532 million–$569 million in 2Q16. Its net income for 2Q16 is expected to be $127.3 million–$145.4 million with earnings per share of $0.58–$0.66.
According to research firm Gartner, Microchip reclaimed the top position in terms of revenue in the 8-bit microcontroller segment in 2014.
On August 3, Microchip announced its 1Q16 earnings, reporting revenues of $534 million. This is a 0.94% increase year-over-year, compared to revenues of $528.9 million in 1Q15.
The stocks at the bottom of the SPDR S&P 500 ETF (SPY) on August 28 were GameStop, Autodesk, and Mylan NV. These companies yielded -8.03%, -4.96%, and -2.18%, respectively.
Diamond Offshore Drilling, an oil and gas drilling company, reported a 5.47% gain on August 28. The company’s trailing five-day return was 12.61%.
China went through many important events recently—like the equity bubble burst, the cut in interest rates, the stock sell-off, and currency devaluation through the first half of 2015.
The iShares MSCI United Kingdom ETF (EWU) was down 3.75% on September 1. The ETF fell for the second consecutive day.
The energy sector, which was rallying over the surge in oil prices, suddenly got hit by China’s report on the state of its manufacturing.
Tuesday, September 1, saw the US stock market go into the red over the release of a new manufacturing report from Beijing.
The past week saw one of the worst market performances in the US since the 2008 recession.
Freeport-McMoRan (FCX), Denbury Resources (DNR), and Consol Energy (CNX) were among the top-performing stocks in SPY on August 27.
On August 20, the bottom four stocks of the iShares MSCI United Kingdom ETF (EWU) were ICAP (IAP), Prudential Financial (PRU), Hargreaves Lansdown (HRGLF), and Carnival (CUK).
The iShares MSCI United Kingdom ETF (EWU) fell 1.45% as of August 20. Randgold Resources (GOLD) was the top-performing stock of the day, recording a return of 5.79%.
Of the 502 constituent stocks of SPY, only 23 recorded positive returns on Wall Street on August 20. Only seven stocks traded at a closing price above their moving averages.
August 20 was not a good day for the SPDR S&P 500 ETF (SPY), which fell 2.09%. Of its 502 constituent stocks, only 23 recorded positive returns, with Windstream (WIN) at the top.
The rupee weakened against the US dollar on August 31, 2015. This was due to a sustained outflow of the rupee from the economy as overall investor sentiment remained nervous about emerging markets.
The Korean won fell nearly 0.27% on August 31 on the back of weak economic data. A major fall was prevented since there was some positive bias due to strong retail sales data coming out at 1.9%.
But if I knew how to manage my portfolio safer and smarter than most hedge fund managers, I could realistically grow my wealth.