RECENT Sector Analysis RESEARCH
Steel stocks are having a nice run in December 2017. Based on December 13, 2017, closing prices, U.S. Steel Corporation (X) and AK Steel (AKS) have risen 13.6% and 10.5%, respectively.
Precious metals and miners saw some relief on December 13 after the Fed raised rates as expected. Sibanye Gold (SBGL), Aurico Gold (AUQ), and Goldcorp (GG) rose 3.5%, 3.6%, and 5.8%, respectively.
Yelp recorded growth across all its three of its revenue segments in 3Q17. Advertising, its largest revenue segment, recorded revenue growth of 18% YoY.
Casey’s reported its financial results for 2Q18 after the market closed on December 11. The results relate to the three-month period ending on October 31.
This week, gasoline (UGA) prices are leading the fall in energy commodities. Gasoline prices fell significanly from last week’s close of $1.717 per gallon on December 8 to $1.665 per gallon on December 13.
In its November Short-Term Energy Outlook (or STEO) report, the EIA forecast that US crude oil production in 2017 would average 9.2 million barrels per day.
China (FXI) released key economic data for November 2017—import and export data, auto sales data, and the manufacturing index.
In nine of the first 11 months of 2017, US auto sales showcased a year-over-year fall. But after gains in September, US vehicle sales inched up in November.
On December 13, 2017, US crude oil (USO) (DBO) January futures fell 0.9% and closed at $56.6 per barrel. Recording production could be lowering oil prices.
Headquartered in New York City, pharmaceutical giant Bristol-Myers Squibb (BMY) offers various cardiovascular, immunoscience, neuroscience, oncology, and virology products.
Among the companies that operate within the agriculture sector, FMC (FMC) has outperformed its peers with a total one-year return of 53.2% as of December 11, 2017.
Since the Fed started increasing interest rates in December of 2015, US utilities (IDU) have outperformed broader equities.
FedEx (FDX) is slated to announce its fiscal 2Q18 earnings after the market closes on December 19, 2017. On December 12, FDX stock closed at $238.60, hovering near its 52-week high of $241.30.
Metals seem to have moved from the “Trump effect” to the “Tesla effect.” On December 12, 2017, Glencore (GLEN-L) held its annual investor update.
January WTI crude oil (USL) (DWT) futures contracts fell 0.9% to $56.6 per barrel on December 13, 2017. Brent oil futures fell 1.4% to $62.4 per barrel.
Southwestern Energy (SWN) stock has fallen over 9.0% in the last one week.
After a challenging 2017, the stock prices of food manufacturers have recovered in the past month. However, most of these stocks are trading in the red year-to-date and have lagged the S&P 500 Index.
According to EIA estimates, the natural gas inventory for the week ended December 1, 2017, is 3,695 Bcf (billion cubic feet). This reading is just 2 Bcf above the 3,693 Bcf recorded for the week ended November 24.
Zynga (ZNGA) reported 3Q17 revenues of $224.6 million, a 23% increase year-over-year. ZNGA’s 3Q17 revenues beat its internal guidance by $14.6 million.
Edison International’s (EIX) stock plummeted to a new 52-week low of $67.28 on December 12, 2017, for reasons related to the ongoing California wildfires.