On March 16, 2017, Albemarle (ALB) announced that it will double its lithium production capacity at its spodumene mine in Greenbushes, Australia.
Uncertainty in the market impacts precious metals and precious metal stocks. Barrick Gold has the lowest correlation to gold YTD (year-to-date).
In this series, we’ll provide an update on Phillips 66’s (PSX) market performance. Phillips 66 stock has fallen 8% year-to-date since January 3—the highest drop among its peers Tesoro, Valero Energy, and Marathon Petroleum.
On February 9, 2017, Huntsman (HUN) announced a dividend of $0.125 per share for 1Q17 on the company’s outstanding common stock.
PVH Corp (PVH) will declare its 4Q16 and fiscal 2016 results on March 23. Its earnings are expected to fall 21.6% to $1.19.
US utilities (XLU) surprisingly rose after the first interest rate increase this year due to the Fed’s softer-than-expected tone.
Walmart (WMT) is likely to benefit from the strategic investments it has made over the past couple of years to overhaul its operations.
On March 15, 2017, Comcast’s (CMCSA) stock closed at $37.75. The company’s stock has risen 9.4% YTD (year-to-date).
On March 16, 2017, Patterson-UTI Energy (PTEN) was trading at $26.01, which was ~42.0% higher than a year ago.
Microsoft (MSFT) could become a victim of the artificial intelligence partnership IBM (IBM) and Salesforce (CRM) struck in early March 2017.
On March 13, 2017, Intel announced an all-cash deal of $15.3 billion to acquire Mobileye (MBLY), an Israel-based assisted-driving systems supplier.
Prior to the Fed’s rate hike on March 15, precious metal investors had been keeping a close eye on the employment figures released on Friday, March 10.
On March 16, 2017, US crude oil futures contracts for April delivery closed at $48.75 per barrel—a ~0.2% fall over the previous trading session.
Calumet Specialty Products Partners’ implied volatility was 54.3% on March 16, 2017. It was ~8% lower than its 15-day average.
In a March 3, 2017, Wall Street Week interview, Paul Schatz of Heritage Capital said he believes the Dow will reach 23,000 by Labor Day 2017.
As oil prices bottomed out in early 2016, inflation started to take off. Headline inflation was at 2.5% in January—near a five-year high.
So far in 2017, US auto sales remained weak on a YoY basis. Most mainstream automakers’ stocks are largely outperforming the broader market (SPY).
As of March 16, 2017, natural gas prices were 27.3% below their 12-month highs. Prices fell due to warmer-than-normal weather for this time of the year.
SWK stock has been on the rise since the beginning of 2017. On a YTD basis, SWK has gained 14.30%, outperforming peers.
General Mills (GIS) plans to announce its fiscal 3Q17 results on March 21, 2017. The company’s management lowered its EPS growth guidance to 5%–7% from its earlier guidance of 6%–8%.