Jitendra Parashar joined Market Realist in 2015 from a financial markets research background. He covered automobile and tech companies as well as macro developments. His focus areas included artificial intelligence and autonomy, electric cars, and tech innovations. Jitendra has a bachelor's degree in journalism and a master's degree in business administration (MBA) in finance and international business.
Disclosure: I am in full compliance with all ethics and other policies for Market Realist research analysts. I am not invested in securities that I cover on Market Realist.
FedEx (FDX) stock fell sharply today after releasing its Q1 earnings on Tuesday after the bell. FDX’s adjusted earnings per share fell 11.8% YoY to $3.05.
In a tweet today, President Trump seemed to attack US companies that are struggling due to the US-China trade war. Boeing rose 0.4% and Apple fell 0.1%.
Marijuana company Curaleaf Holdings (CURLF) announced its second-quarter results earlier this week. Now the stock is rallying despite a disappointment.
On August 8, after Uber’s Q2 earnings, the stock (UBER) fell sharply in the aftermarket session. The slump was driven by wider-than-expected losses in Q2.
On July 18, New York Fed President John Williams’s speech increased the Fed rate cut probability. He highlighted the importance of the Fed acting quickly.
Tesla stock turned negative after Needham & Company’s Rajvindra Gill reiterated his “underperform” rating on concerns about the company’s delivery target.
This morning, US index futures surged after Federal Reserve Chair Jerome Powell’s testimony raised the possibility of a near-term cut in interest rates.
On Tuesday, Acacia Communications (ACIA) jumped by nearly 35% on Cisco’s acquisition bid. Cisco has agreed to acquire Acacia for $70 per share in cash in a $2.6 billion deal.
After the market closed on July 2, Tesla (TSLA) pleasantly surprised investors by reporting second-quarter car deliveries that were much better than expected.
Last December, Apple (AAPL) announced its ~$1 billion plan to build a new campus in North Austin, Texas, and that it would grow its US employee base over the next three years.
Last week, Apple (AAPL) voluntarily recalled 15-inch MacBook Pros sold between September 2015 and February 2017, stating they may have a faulty battery that could “overheat and pose a safety risk.”
On June 5, The Information hinted Apple (AAPL) could acquire car technology company Drive.ai as it was interested in adding Drive.ai’s engineering talent to its self-driving car project team.
As of June 25, Apple stock had surged 11.7% this month after falling 12.8% in May. Markets’ rally in June, triggered by renewed US-China trade optimism, has sustained AAPL’s gains this month.
This afternoon, the US stock market is trading on a slightly positive note as investors keep their eyes on the G20 summit, where President Donald Trump is scheduled to meet his Chinese counterpart, President Xi Jinping.
President Donald Trump is expected to meet with Chinese President Xi Jinping on the sidelines of the 2019 G20 summit at Osaka, Japan. The two-day summit is scheduled to be held on June 28 and 29 this week.
Later this week, President Trump is scheduled to meet President Xi Jinping on the sidelines of the G20 summit at Osaka, Japan. However, auto investors don’t seem to be very excited.
On June 25, Jamie Dimon, JPMorgan Chase’s (JPM) CEO, said that “we don’t expect a quick resolution at this point” for the US-China trade war. He added that “there are serious trade issues.”
In the third week of June, Harley-Davidson (HOG) posted 5.8% gains as compared to a 2.2% rise in the S&P 500 Index. Last week, the company announced its partnership with China’s Qianjiang Motorcycle Company Limited. Under the new partnership, both the companies aim to collaborate to launch a premium 338cc motorcycle targeted at Chinese and other Asian markets.
Italian luxury carmaker Ferrari (RACE) continued to trade on a strong bullish note last week. In the week ended June 21, its stock rose by 6.1%, registering its highest weekly gains in the last 20 weeks. Ferrari is the only auto company that has ended all months of 2019 so far in the positive territory.
In the week ended June 21, Tesla (TSLA) continued to trade on a positive note for the third week after settling in the negative territory for the previous four weeks. Last week, Tesla stock inched up by 3.2%. While its stock has risen by 20.8% in June so far as of Monday’s closing, it was still trading with massive 32.8% year-to-date losses.
Last week, the Italian-American automaker Fiat Chrysler (FCAU) surged by 4.7%, much higher than its 0.5% rise in the previous week. As of June 24, Fiat Chrysler has gone up by 7.2% year-to-date, underperforming its direct peers such as General Motors (GM) and Ford (F). GM and Ford have gone up by 10.5% and 30.1% in 2019 so far.
In the week ended June 21, Ford Motor Company (F) underperformed the broader market and its direct home market peer General Motors (GM). Ford stock remained mixed last week and settled with 0.1% minor weekly gains as compared to a 2.2% rise in the S&P 500 Index.
Following the positive trend in the broader market, auto stocks rallied last week. In the third week of June, General Motors (GM), Fiat Chrysler Automobiles (FCAU), Tesla (TSLA), and Ferrari (RACE) surged 3.5%, 4.7%, 3.2%, and 6.1%, respectively. Meanwhile, Ford Motor Company (F), Toyota (TM), and Honda (HMC) rose 0.1%, 0.4%, and 2.0%, respectively.
On June 26, the US index futures were pointing toward a positive market opening. Treasury Secretary Steven Mnuchin hinted toward a possible US-China trade deal.
On June 25, General Motors (GM), America’s largest auto company, announced its plan to invest $20 million into its Arlington Assembly plant in Texas, according to Reuters. With the new investment, the company aims to upgrade its equipment before launching its full-size SUVs.
Earlier today, Ford (F) said that it would announce its second-quarter US sales data on July 3. In the first quarter, the company reported a 1.6% YoY decline in its US sales to 590,249 vehicle units. During the first quarter, Ford’s truck sales rose by 4.1%, and its SUV sales went up by 5.0% on a YoY basis.
With the help of huge subsidies and favorable policies, the Chinese government seems to be determined to keep the electric vehicle revolution in the country alive.
On June 24, the Department of Commerce approved Tesla’s request “to waive 10% tariffs on imported aluminum from Japan.” On June 25 at 8:45 AM ET, Tesla stock rose 0.2% for the day in the pre-market session.
Velodyne LiDAR seems to be preparing for its IPO. The company “has hired bankers for an initial public offering,” Reuters said. According to the report, Velodyne LiDAR has chosen Bank of America Merrill Lynch, Citigroup, Royal Bank of Canada, and William Blair to work on its potential exchange listing.
Winnebago’s forward EV-to-EBITDA multiple is 7.8x. This multiple is calculated based on the company’s estimated EBITDA for the next 12 months. About a year ago, it forward EV-to-EBITDA multiple was higher at 8.7x.
In the quarter ended May 25, 2019, Winnebago Industries (WGO) reported a gross profit of $86.6 million, up 1.3% YoY despite lower revenue. With this, the company’s gross profit margin improved to 16.4% in the last quarter as compared to a 15.2% gross margin a year ago.
In the third quarter of fiscal 2019, Winnebago Industries (WGO) reported net revenue of $528.9 million as compared to $562.3 million in revenue in the third quarter of fiscal 2018. This revenue data reflected a 5.9% YoY fall but a solid sequential increase of 22.2% in the last quarter.
Yesterday, Winnebago Industries (WGO) released its third-quarter results for fiscal 2019. After yielding solid returns of 75.7% in 2017, Winnebago stock tanked 56.5% in 2018. Last year, the company’s rising dealer inventories and inflating costs due to trade war tariffs hurt investors’ sentiments.
American RV manufacturer Winnebago Industries (WGO) released its third-quarter earnings report before the market opened on June 19. In the third quarter of fiscal 2019, the company reported adjusted EPS of $1.14, up 11.8% as compared to its adjusted EPS of $1.02 in the third quarter of fiscal 2018.
Yesterday, US legacy motorcycle pioneer Harley-Davidson (HOG) announced its partnership with China’s Qianjiang Motorcycle Company. Meanwhile, according to a recent Nikkei report, Apple (AAPL) wants to move about 15% to 30% of its production out of China. Let’s take a closer look.
On June 20, US tech giant Apple (AAPL) saw its stock open on a bullish note. It posted a high of $200.61, up 1.4% from its previous session’s closing price. Earlier today, a sharp rally in large US companies, including Oracle (ORCL) and Apple, helped the S&P 500 Index (SPY) reach record highs.
Today at 2:15 PM ET, Apple shares (AAPL) were hovering just below the psychologically key level of $200 at $199.50 with 0.8% gains for the day. After losing 12.8% in May due to escalating US-China trade tensions, Apple stock has risen 13.0% in June. Let’s take a closer look.
After starting June 20 on a solid note with more than a 1% rise, Apple (AAPL) stock has trimmed its gains for the day. At 1:30 PM ET, Apple stock was trading with a 0.8% gain at $199.52. At the same time, the S&P 500 Index, the Nasdaq Composite Index, and the Dow Jones Industrial Average were up 0.7%, 0.6%, and 0.7%, respectively.
This morning the US stock market opened on a strong bullish note after the Federal Reserve hinted at a cut in the interest rates yesterday. Also, renewed US-China trade optimism helped the S&P 500 Index reach new heights today. The world’s two largest economies have started trade negotiations once again ahead of US President Donald Trump and Chinese President Xi Jinping’s meeting next week.
On June 20, NIO (NIO) is trading on a bullish note for the fourth consecutive session. At 11:00 AM ET, NIO stock has risen 8.1% at $2.96. Earlier on June 20, the stock rose above the psychological level of $3.00.
This morning before the market opened, Tesla (TSLA) was trading on a negative note despite a sharp rise in index futures. As of 9:10 AM ET, Tesla stock had fallen 1.2% in the pre-market session to $234.74 after Goldman Sachs cut the target price on the company by about 21%.
Today at 2 PM ET, the Federal Reserve will announce its interest rate decision, which will be followed by its press conference at 2:30 PM ET. Investors are hoping for a rate cut and a dovish statement from the Fed. On June 4, Fed Chair Jerome Powell’s statement that “we will act as appropriate to sustain the expansion” drove a stock market rally.
Apple (AAPL) seems to be exploring options to partially move its iPhone and other product manufacturing out of China. Apple wants to move ~15%–30% of its production out of China.
Tesla (TSLA) doesn’t seem to follow the broader market trend. The stock fell 44.4% in the first five months of 2019. As of the closing on June 18, Tesla has risen 21.4% on a month-to-date basis.
Yesterday, the Dow Jones Industrial Average (DIA) settled near the 26,465 level with about 1.4% gains for the day. The index rallied after President Donald Trump said that he would be meeting President Xi Jinping next week on the sidelines of the G-20 Summit in Japan.
On June 18, the broader market rose sharply after President Trump’s tweet raised the possibility of a near-term solution to the ongoing US-China trade war. The US chip industry has been impacted by the trade war.
On June 18, the US stock market saw a sharp rally after President Donald Trump said in a tweet that he and Chinese President Xi Jinping “will be having an extended meeting next week at the G-20 in Japan.” The tweet raised investors’ hopes about a near-term solution to the ongoing US-China trade war.
On June 18, US social media giant Facebook (FB) revealed the details of its upcoming cryptocurrency, Libra. The company has formed a financial services subsidiary called Calibra to allow people to transact using Libra. In simple terms, Calibra is Facebook’s new digital wallet.
Unless there’s a negative update about another escalation in the US-China trade war, the expected rate cut decision could trigger market-wide buying, including in tech stocks, in the near term.
Today at 8:55 AM ET, MoneyGram International (MGI) stock had soared by over 155% for the day to $3.70 in the premarket session. These massive gains came after the company announced its strategic partnership with blockchain company Ripple.
On June 17, CNBC host Jim Cramer said that FAANG stocks Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), and Google (GOOGL) seem to be “making a comeback.” Let’s take a closer look.
At a time when many analysts have been warning about an upcoming recession, it’s difficult to find someone who’s still bullish about the stock market. That’s where Jim Cramer comes in.
Goldman Sachs’ chief US equity strategist, David Kostin, thinks that “rising market concentration” and geopolitical tensions pose a “regulatory risk” to companies, which could harm their fundamentals.
The Fed’s two-day meeting is scheduled to start on June 19. The Fed will release a statement and announce its interest rate decision on the same day. Expert Jim Grant weighs in on the possibility of an interest rate cut.
While the deteriorating job market could damage China’s economy in the long term, Chinese stocks and ETFs are falling right now. FXI and GXC have lost nearly 8.7% and 9.7%, respectively, in the second quarter.
Yesterday, Tesla (TSLA) stock continued to trade on a positive note for the third session in a row. Sunday evening, Tesla CEO Elon Musk said, “Just deleted my Twitter account.” However, the fact that he said he deleted his Twitter account in a tweet raised doubts about his claim, and it’s still uncertain whether or not he was joking.
Today at 10:24 AM ET, Apple (AAPL) was trading on a positive note with nearly a 1.0% gain for the day. At the same time, the S&P 500 Index, the NASDAQ Composite Index, and the Dow Jones Industrial Average were up 0.3%, 0.7%, and 0.2%, respectively.
In the electric car segment, Fiat Chrysler is behind General Motors and Ford. In the last few years, the companies accelerated their electric car development after Tesla (TSLA) showcased electric cars’ true potential.
Taking cues from the broader market movement, most auto companies traded on a slightly positive note last week. General Motors, Fiat Chrysler, and Toyota rose 0.5%, 0.5%, and 1.6%, respectively.
This morning, US Commerce Secretary Wilbur Ross said that America will probably “eventually” make a deal with China, but he warned of the possibility of more tariffs if a deal is not made. He said that if the ongoing US-China trade negotiation doesn’t result in a trade deal, President Donald Trump “is perfectly happy with continuing the tariff movements.”
On June 3, Apple (AAPL) announced its latest phone and desktop operating systems, iOS 13 and macOS Catalina version 10.15, respectively, during its 2019 Worldwide Developers Conference. During the event, the company also revealed that it would be discontinuing the iTunes app on both systems.
Apple (AAPL) announced the macOS Catalina, the latest version of its desktop operating system, on June 3. While the company makes changes to its apps every year and introduces new features with each new version, macOS Catalina seems to be bringing forward some exciting new features.
Last week, Apple (AAPL) announced its latest desktop operating system version 10.15, macOS Catalina, during its 2019 Worldwide Developers Conference. While the company has already released the beta version of macOS Catalina, the final version is expected to be available this fall.
In the last couple of sessions, Apple (AAPL) has traded on a mixed to slightly negative note. On June 13, Apple stock settled without any notable change from its previous session’s closing price despite the broader market’s positive movement. Here’s what happened.
On June 14 at 10:30 AM EDT, Uber Technologies (UBER) was down 0.8% on the day after rising 5.1% on June 13. As of yesterday’s close, the stock had risen 9.7% so far in June, outperforming the broader market and its direct peer Lyft (LYFT).
On June 14, the broader market is likely to open on a negative note after closing in the green yesterday. Today at 7:00 AM EDT, S&P 500 Index futures, Nasdaq futures, and Dow futures were trading with 0.3%, 0.8%, and 0.2% losses for the day, respectively.
This afternoon, shares of the Walt Disney Company (DIS) rallied after Morgan Stanley analyst Benjamin Swinburne raised his price target for the company. According to a CNBC report, the analyst now has a price target of $160 for the stock—much higher than his previous target of $135. Here’s why.
Every year, Apple’s (AAPL) app developers eagerly wait for the company’s Worldwide Developers Conference event. During the event, the company announces the upcoming operating system and software upgrades for its devices.
