In the week ended June 23, 2017, the broader market continued to trade on a mixed note. The S&P 500 Index (SPY) ended the week with a rise of ~0.2%.
It’s surprising to see Costco (COST) stock being the worst hit from Amazon’s (AMZN) announcement about acquiring Whole Foods (WFM) on June 16.
Copper prices continued their good run in 1Q17 with the red metal reclaiming the $6,000 per metric ton price level.
Crude oil (USO) and natural gas (UNG) have fallen ~76% and ~75%, respectively, from June 2014 to February 2016.
Oregon-based Nike is slated to release its results for fiscal 4Q17 after the market closes on June 29, 2017. Its earnings per share are expected to rise 2% year-over-year.
So far in 2017, US utility stocks have rallied more than 10%, outperforming broader markets YTD. But analysts now expect flat or even negative price changes.
Schlumberger’s (SLB) one-year stock price was down 14% as of June 23, 2017.
The Association of American Railroads has released its freight volume data for North American railroad companies for the 24th week of 2017, which ended on June 17, 2017.
In the past year, Weatherford International (WFT) stock fell 32% until June 23, 2017. Weatherford underperformed the VanEck Vectors Oil Services ETF (OIH).
According to the EIA’s latest Drilling Productivity Report on June 12, crude oil production in the Permian is expected to have risen 2.4 million barrels per day in May.
US stocks ended the week with a marginal gain. Weak financials and consumer staples shares eclipsed a rally in the healthcare and biotechnology sectors.
Seadrill (SDRL) stock reached a 52-week low of $0.42 on June 15, 2017, but among its peers, it’s the only stock with a positive month-to-date return.
WTI crude oil (XLE) (RYE) (VDE) futures contracts for August delivery rose 0.6% and settled at $43.01 per barrel on June 23, 2017.
The week ending June 23 was broadly mixed for fertilizer stocks—four out of eight companies ended the week in positive territory.
Constellation Brands (STZ) is scheduled to announce its fiscal 1Q18 results on June 29, 2017. Its fiscal 1Q18 ended on May 31, 2017.
Between June 16 and June 23, 2017, US crude oil (USO) (DBO) August futures fell 4.4%.
Axalta stock closed at $31.94 on June 23, 2017, a fall of 5.4%. The decline was primarily driven by AXTA’s new term loans of $1.6 billion.
Technology stocks rose a combined 2.3% in the week ended June 23, 2017, after three weeks of negative returns. The S&P 500 Index rose just 0.2% in the same period.
In 2Q17, Tesoro (TSO) completed the acquisition of Western Refining, which could lead to higher capacity and operational synergies. Since April 3, 2017, Tesoro (TSO) stock has risen 13%.
Edwards Lifesciences (EW) is one of the leading players in the artificial valve market. After falling toward the end of 2016, EW stock has recovered recently and returned ~26.5% year-to-date.