Good Saturday morning to all of you here on r/StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week and month ahead.
Here is everything you need to know to get you ready for the trading week beginning December 2nd, 2019.
Markets may get a boost from cheery Black Friday consumer sentiment, seasonal strength - (Source)
Stocks have had a bang-up year so far, and they're heading straight into the month that is often the best of all.
The S&P 500 is up more than 25% for the year. Thanksgiving week was technically positive for the market, with the small cap Russell 2000 breaking out, joining other indexes in an uptrend.
Stocks, however, were lower Friday in sluggish trading after the Thanksgiving holiday. Through Wednesday, the Dow, Nasdaq and S&P 500 had all popped to new record highs, with consumer discretionary and tech names leading the market higher this past week. The Russell 2000 is not yet back to its highs, but it pushed above its previous 52-week high, in a healthy sign for the overall market.
In the coming week, investor focus will move more intently to the topic of trade, and that is what will make or break the rally at year-end.
President Donald Trump has promised that a preliminary trade deal with China is close, but there still is no agreement and the Dec.15 deadline for new tariffs is getting closer. Trump's signing of legislation Wednesday supporting the Hong Kong protesters drew a negative reaction from Beijing and adds more uncertainty to trade talks.
The health of the economy is also a factor for markets, and there is some key data, with the ISM manufacturing report on Monday followed by the government's all-important monthly jobs data on Friday.
Best month of year
2019 has turned out to be a very good year for the market, with the Jan. 1 to Thanksgiving Day period the 14th best for the S&P 500 since 1928, according to Bespoke. The 25.5% gain in the S&P 500 was the best for the period since 2013, and now the market enters a typically strong period.
"December is the best month of the year. The S&P is up 1.6 percent on average. It also has the highest frequency of advances, up 76% of the time," said Sam Stovall, chief investment strategist at CFRA. December is also the least volatile month of all, but it could see some bumps.
"The market tends to go through a mid-December low, which then represents a good buying opportunity, at least through the end of January," Stovall said, adding he thinks the decline would be no more than 5%. "I don't think we need a big pullback or a correction. A mid-single digit decline would be sufficient."
Stovall said 2019 was set up to win because of the way the year started, following the sharp sell-off last December. When the months of January and February are higher, the S&P 500 has an average total return of 24%, according to data going back to 1945. If the following year does not see have a similar double gain in January and February, it still does fairly well with a normal average return of 8% to 9%, he said.
The market's performance for the entire year also bodes well for a positive move into year-end, according to Bespoke. Since 1928, when stocks are up 20% or more by Thanksgiving, like this year, the S&P 500 usually ends the year even higher, with an average gain of 1.8% between Black Friday and New Year's Eve, Bespoke noted.
S&P Sub-industry sector performance
Stovall also looked at sector performance for December, going back to 1995 and found that some of the worst performing S&P sub-industry sectors were retail oriented and are highly dependent on good holiday sales. On average, computer and electronics retailers were weakest, off 4.5%, followed by leisure products off 2.2% and department stores, off 0.9%. Specialty stores and apparel and luxury goods were also among the 10 poorest performers.
While 87% of the sub-industry sectors were positive, the top performer was homebuilding, up 4.5 %, followed by home improvement retail.
"You want to buy now what nobody wants to own," said Stovall, noting the market is forward pricing so investors are looking ahead to building activity picking up in spring and summer when they dip into homebuilders. Companies that sell fertilizers also do well in December.
Stocks on Friday closed out their best monthly performance since June. The S&P 500 was up 3.4% to 3,140, and the Dow closed Friday at 28,051, up 3.7% for the month of November.
Technology was the best performing sector for the month, gaining 5.2%. That helped drive the Nasdaq up 4.5% for the month to 8,665.
Biotech was also a top performer, helping lift the Russell 2000, which gained 4% in November to 1,624. The IBB iShares Nasdaq Biotechnology ETF was up 11% for the month.
Trade tensions
The big risk to the market in December is the outcome of trade talks, but economic reports will be important as investors continue to assess whether the Fed was right in ending its rate cuts.
The economy has shown some signs of picking up, and a string of improved data has led economists to look for better growth in the fourth quarter. But the critical driver of growth continues to be the consumer, so holiday sales will be an important indicator to watch.
Employment data remains the most important of the economic reports, since a strong labor market is crucial for consumer confidence and spending.
Economists expect the economy added 183,000 jobs in November, according to Refinitiv. The economy added 128,000 jobs in October, even with the negative drag of 46,000 striking GM workers and the reduction of 17,000 federal government jobs, due to the end of temporary employment for Census workers.
"For the employment report, we think one factor that is likely to result in a slightly stronger headline payroll number is the fact we will now count the GM workers that were on strike," said Barclays economist Pooja Sriram. "We estimated 36,000 to 40,000 were left out of the report in October. We think they're to be counted as part of the November report. Much of that is going to be seen in private payrolls and especially in manufacturing payrolls."
In October, ISM manufacturing activity improved, and even though it remained in contraction, some economists said the slowdown may be showing signs of bottoming.
The ISM index is expected to be at 49.4, still shy of 50, which shows expansion, but better than October's 48.3. "We still think it's going to be a sub-50 print," said Sriram.
October's durable goods report showed a surprise gain in business investment when economists had expected to see contraction.
Sriram said the speed of decline in manufacturing has certainly slowed, and she is watching the data closely. "I don't think we're comfortable saying we bottomed," she said.
OPEC and Russia hold meetings in Vienna on Thursday and Friday, and analysts expect them to extend their production cutting agreement. However, Russia may seek to change the rules for how it counts its petroleum output, so the meeting may not be as predictable as expected, some analysts say.
This past week saw the following moves in the S&P:
Major Indices for this past week:
Major Futures Markets as of Friday's close:
Economic Calendar for the Week Ahead:
Sector Performance WTD, MTD, YTD:
Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:
S&P Sectors for the Past Week:
Major Indices Pullback/Correction Levels as of Friday's close:
Major Indices Rally Levels as of Friday's close:
Most Anticipated Earnings Releases for this week:
Here are the upcoming IPO's for this week:
Friday's Stock Analyst Upgrades & Downgrades:
Next Week's Economic Indicators - 11/29/19
Even with a holiday and a shortened session Friday leaving no US releases in the past 48 hours, it was a very busy week for economic data with 36 releases in the first three days. Most of this data came in stronger than expected or above the prior reading where there were no forecasts. While the bulk of the week's data was strong, manufacturing data, namely from the regional Fed indices, was mixed. We started off with a weaker Chicago Fed National Activity Index on Monday. The index fell from -0.45 last month to -0.71 rather than the expected improvement to -0.2. The Dallas Fed's index was also out on Monday and it improved more than expected as well as versus the prior month. On Tuesday, the Richmond Fed's gauge on manufacturing was also worse than expected. On the bright side, other manufacturing hard data like durable goods came in much stronger than both the previous month and consensus forecasts. Housing data was also solid this week with better than anticipated home price growth shown in two of the three indicators: the quarterly Home Price Purchase Index, FHFA, and Case-Shiller (only the Case-Shiller index was weaker than expected, albeit up from the prior month). The second release of third-quarter GDP was the most notable indicator of the week with a much stronger than expected reading which showed the economy grew by 2.1% QoQ versus estimates of a 1.9% growth rate.
We kick off December with another busy few days next week. Final November Markit and ISM numbers will kick off the week on Monday. While Markit is not expecting any change from the preliminary readings, ISM is expected to improve to 49.2 which would still be a contractionary print. In hard manufacturing data, later in the week we will see final durable and capital goods numbers for November. Vehicle sales figures will be the only release on Tuesday followed by the service counterparts to Markit and ISM indices on Wednesday as the rest of the week's main focus will be on labor data. After a surprisingly strong release last month, Nonfarm Payrolls is again expecting a strong print showing 190K jobs created in the month of November.
Stocks To Be The Most Thankful For
Below is a list of the 25 best performing stocks in the S&P 500 so far in 2019. Advanced Micro Devices (AMD) tops the list with a gain of more than 100%. While no other S&P 500 stocks have yet to double this year, another semi name, Lam Research (LRCX) has come close with a gain of 99%. Xerox (XRX), MarketAxess (MKTX), and Target (TGT) have also all risen more than 90%.
Apple (AAPL) is the 19th best performing stock in the list above. But because of its trillion+ dollar market cap, Apple's (AAPL) 69% gain has a much bigger impact on the overall stock market than all of the other stocks that have seen a bigger price move this year. In fact, of the S&P 500's 25% price gain this year, Apple has accounted for 2.24 of those percentage points (or roughly 9%).
Instead of looking at simple year-to-date price change, below is a list of the stocks that investors should be most thankful for this year because of their contribution to the S&P's gains. Right behind Apple (AAPL) in first is the other trillion+ dollar company -- Microsoft (MSFT) -- which has accounted for 1.7 percentage points of the S&P's 25% gain. After AAPL and MSFT are Facebook (FB), Alphabet (GOOGL), and Amazon (AMZN). Together these five mega-caps account for 25% of the S&P's move higher this year. While this group of companies has been vilified in 2019 for a number of things, they're certainly still delivering for the stock market in a big way.
S&P 500 Industry Group Breadth Running Strong
The S&P 500 may be hitting record highs at a pace of more than once every other day, but would you believe that there are still Industry Groups trading below their 50-day moving averages? The chart below shows the rolling percentage of Industry Groups trading above their 50-DMAs over the last several years, and the current reading stands at 91.7%. Over the last five years there have been numerous periods where a higher percentage (and even 100%) of Industry Groups traded above their 50-DMAs, and the most recent was back in July.
So which are the two outlier groups that are still below their 50-DMAs? Well, when everyone seems to be taking an offensive posture in the market, it's only natural that defensive sectors would be lagging, and two of the most defensive-oriented sectors in this yield-hungry world we live in are Utilities and Real Estate. Even these two groups, though, are only about 1% below their 50-DMAs, so all it will take is one or two good days for these groups to get them back over the hump. On the upside, Health Care Equipment & Services is the furthest above its 50-DMA at 7.72%.
The S&P 500 as a whole is currently just over 4% above its 50-DMA. What's interesting to note here, though, is that just 9 of the 24 Industry Groups are further above their 50-DMAs while 15 are not above their 50-DMAs by as much as the S&P 500. In terms of YTD returns, the S&P 500 is currently sitting on a gain of more than 25% YTD. Leading the way higher this year, Tech Hardware (Apple) has rallied just under 48%, while Semis are up just over 40%. Behind these two leaders, four other Industry Groups are up over 30% YTD. While there is no downside on a YTD basis, Energy has been the biggest laggard and is just barely hanging on to a YTD gain. If Energy can't hang onto a YTD gain in a year where the S&P 500 gains more than 25%, Energy investors may need to wear paper bags over their heads.
Technology Sector P/E Highest in Ten Years
As equities run to all-time highs, valuations are at a fairly interesting point. As shown in the chart below using data from our Daily Sector Snapshot included with our Morning Lineup and The Closer, most sectors' valuations are at the upper end of the past ten years' range. Four sectors, Consumer Discretionary, Communication Services, Utilities, and Technology all have trailing P/E ratios in the 90th percentile or higher of the past ten years' readings.
Since the S&P 500 established its first all-time high since July on October 28th, Health Care and Financials have been two of the strongest performers rising 6.68% and 4.35%, respectively. Despite these runs, both of these sectors still have reasonable valuations relative to the past decade. For Financials, the current trailing price-to-earnings ratio is in the 42nd percentile of all days of the past ten years. No other sector has such a low reading although Materials and Energy are on the lower end relative to other sectors. On the other hand, Utilities and Technology have some of the highest valuations of the past ten years with the current P/E in the 97th and 99th percentiles, respectively.
As shown in the chart below, most of the last 9-12 months has seen valuations for Utilities consistently in the uppermost range of the past ten years as investors chased yield in a low interest rate environment. But as risk-free rates have risen more recently, valuations for Utilities have pulled back a bit as price has slid. While there have been other periods in the past ten years where Utilities' P/E ratio was similarly elevated, arguably only 2016/2017 saw it remain at the upper end of the ten-year range as consistently as has been the case this year.
For Technology it is a whole different story. The P/E for the sector got crushed this time last year and after plummeting to the 31st percentile, it is has rebounded to the highest levels of the past ten years. The only other time that the sector traded at a similar premium relative to the past decade's range was back in early 2018.
Thanksgiving through Santa Claus Rally Trade
Everyone is talking about yearend seasonal strength this year, but it's not news to us. 2019 has been tracking historical seasonal market patterns quite closely this year and that suggests it is likely to continue to track it.
Our good friend Larry McMillan (@optstrategist) trades seasonal yearend strength with the Russell 2000 from the close the day before Thanksgiving through the end of our Santa Claus Rally (the last five trading days of the year and the first two trading days of the New Year).
So here we have run the numbers from 1979 when the Russell index data begins comparing R2K to the DJIA, S&P 500 and NASDAQ. The small-cap index Russell 2000 is the best performer up an average 3.1% (median 3.2%) with an 80% win ratio up 32 of the last 40 years. Last year was the worst and it's been down 3 of the last 5 years.
Giving Thanks for the U.S. Consumer
This Thanksgiving, we're thankful for solid consumer confidence, even though it has wavered in recent months.
Consumer confidence fell for a fourth straight month in November, according to preliminary Conference Board data. Even though the Conference Board's Consumer Confidence Index has dropped from its economic cycle peak, consumer sentiment is still historically elevated, as shown in the LPL Chart of the Day.
We've been pleasantly surprised by the U.S. consumer's resilience over the past year as other parts of the domestic economy have weakened amid global headwinds. Strong consumer spending has helped the economy grow at a 2% average rate over the past two quarters, despite drags on growth from business spending, inventories, and trade.
"Consumer sentiment has been largely immune from global headwinds," said LPL Financial Senior Market Strategist Ryan Detrick. "We expect consumer spending to power economic growth through next year, so we'd like to see consumer confidence pick up more with signs of trade progress."
Consumers have several reasons to be optimistic. Employment is the primary driver of consumer health, and the U.S. labor market has been resilient. Wages are growing at a healthy rate, and consumers are reaping the benefits of tax cuts and record-high stock prices. As long as the job market stays solid and inflation remains in check, we feel good about consumers' prospects.
Still, there are growing signs of concern. While survey respondents have remained optimistic about present conditions, their outlook on future conditions has soured, according to the Conference Board. If consumers are feeling less confident about the future, they may be less inclined to spend and invest. That loss of confidence in the outlook could lead to economic weakness over time if consumers step back.
Overall, we would need to see more significant deterioration in consumer confidence before we would start to worry about the economic outlook.
STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending November 29th, 2019
([CLICK HERE FOR THE YOUTUBE VIDEO!]())
(VIDEO NOT YET POSTED!)
STOCK MARKET VIDEO: ShadowTrader Video Weekly 12.1.19
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
- $CRM
- $DG
- $ULTA
- $COUP
- $MRVL
- $WDAY
- $ZS
- $RH
- $OKTA
- $TIF
- $CRWD
- $KR
- $CLDR
- $DSX
- $WORK
- $BMO
- $ZM
- $CPB
- $FIVE
- $QTT
- $DOCU
- $MIK
- $TD
- $YJ
- $LE
- $AVAV
- $RY
- $SNPS
- $HQY
- $DCI
- $BIG
- $GSM
- $SIG
- $SMAR
- $GIII
- $HOME
- $HRB
- $DLTH
- $TLYS
- $ZUO
- $GEF
- $JW.A
- $GMS
- $EXPR
- $ZUMZ
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:
Monday 12.2.19 Before Market Open:
Monday 12.2.19 After Market Close:
Tuesday 12.3.19 Before Market Open:
Tuesday 12.3.19 After Market Close:
Wednesday 12.4.19 Before Market Open:
Wednesday 12.4.19 After Market Close:
Thursday 12.5.19 Before Market Open:
Thursday 12.5.19 After Market Close:
Friday 12.6.19 Before Market Open:
Friday 12.6.19 After Market Close:
([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.
Salesforce $162.89
Salesforce (CRM) is confirmed to report earnings at approximately 4:05 PM ET on Tuesday, December 3, 2019. The consensus earnings estimate is $0.66 per share on revenue of $4.44 billion and the Earnings Whisper ® number is $0.69 per share. Investor sentiment going into the company's earnings release has 77% expecting an earnings beat The company's guidance was for earnings of $0.65 to $0.66 per share. Consensus estimates are for year-over-year earnings growth of 8.20% with revenue increasing by 30.90%. Short interest has decreased by 48.0% since the company's last earnings release while the stock has drifted higher by 3.3% from its open following the earnings release to be 5.4% above its 200 day moving average of $154.54. Overall earnings estimates have been revised lower since the company's last earnings release. On Monday, November 25, 2019 there was some notable buying of 1,252 contracts of the $162.50 call expiring on Friday, December 6, 2019. Option traders are pricing in a 4.5% move on earnings and the stock has averaged a 3.7% move in recent quarters.
Dollar General Corporation $157.36
Dollar General Corporation (DG) is confirmed to report earnings at approximately 6:30 AM ET on Thursday, December 5, 2019. The consensus earnings estimate is $1.38 per share on revenue of $6.91 billion and the Earnings Whisper ® number is $1.39 per share. Investor sentiment going into the company's earnings release has 77% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 9.52% with revenue increasing by 7.67%. Short interest has decreased by 1.8% since the company's last earnings release while the stock has drifted higher by 3.8% from its open following the earnings release to be 14.0% above its 200 day moving average of $138.01. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, November 27, 2019 there was some notable buying of 574 contracts of the $100.00 put expiring on Friday, December 20, 2019. Option traders are pricing in a 6.3% move on earnings and the stock has averaged a 7.1% move in recent quarters.
ULTA Beauty $233.86
ULTA Beauty (ULTA) is confirmed to report earnings at approximately 4:00 PM ET on Thursday, December 5, 2019. The consensus earnings estimate is $2.14 per share on revenue of $1.69 billion and the Earnings Whisper ® number is $2.17 per share. Investor sentiment going into the company's earnings release has 61% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 1.83% with revenue increasing by 8.33%. Short interest has increased by 1.8% since the company's last earnings release while the stock has drifted lower by 7.5% from its open following the earnings release to be 23.5% below its 200 day moving average of $305.86. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, November 22, 2019 there was some notable buying of 1,992 contracts of the $200.00 put expiring on Friday, January 17, 2020. Option traders are pricing in a 8.7% move on earnings and the stock has averaged a 9.9% move in recent quarters.
Coupa Software $153.49
Coupa Software (COUP) is confirmed to report earnings at approximately 4:05 PM ET on Monday, December 2, 2019. The consensus earnings estimate is $0.06 per share on revenue of $96.50 million and the Earnings Whisper ® number is $0.10 per share. Investor sentiment going into the company's earnings release has 70% expecting an earnings beat The company's guidance was for earnings of $0.05 to $0.08 per share on revenue of $96.00 million to $96.00 million. Consensus estimates are for earnings to decline year-over-year by 53.85% with revenue increasing by 43.06%. Short interest has increased by 74.3% since the company's last earnings release while the stock has drifted higher by 2.7% from its open following the earnings release to be 26.1% above its 200 day moving average of $121.76. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, November 29, 2019 there was some notable buying of 679 contracts of the $172.50 call expiring on Friday, December 6, 2019. Option traders are pricing in a 9.8% move on earnings and the stock has averaged a 8.1% move in recent quarters.
Marvell Technology Group Ltd. $26.37
Marvell Technology Group Ltd. (MRVL) is confirmed to report earnings at approximately 4:05 PM ET on Tuesday, December 3, 2019. The consensus earnings estimate is $0.17 per share on revenue of $660.23 million and the Earnings Whisper ® number is $0.19 per share. Investor sentiment going into the company's earnings release has 65% expecting an earnings beat The company's guidance was for earnings of $0.15 to $0.19 per share on revenue of $640.00 million to $680.00 million. Consensus estimates are for earnings to decline year-over-year by 55.26% with revenue decreasing by 22.42%. Short interest has increased by 25.8% since the company's last earnings release while the stock has drifted higher by 9.4% from its open following the earnings release to be 9.5% above its 200 day moving average of $24.08. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, November 15, 2019 there was some notable buying of 1,289 contracts of the $29.00 call expiring on Friday, May 15, 2020. Option traders are pricing in a 6.6% move on earnings and the stock has averaged a 1.8% move in recent quarters.
Workday, Inc. $179.12
Workday, Inc. (WDAY) is confirmed to report earnings at approximately 4:00 PM ET on Tuesday, December 3, 2019. The consensus earnings estimate is $0.37 per share on revenue of $918.63 million and the Earnings Whisper ® number is $0.40 per share. Investor sentiment going into the company's earnings release has 64% expecting an earnings beat The company's guidance was for revenue of $918.00 million to $920.00 million. Consensus estimates are for year-over-year earnings growth of 640.00% with revenue increasing by 23.61%. Short interest has increased by 5.2% since the company's last earnings release while the stock has drifted lower by 2.7% from its open following the earnings release to be 5.1% below its 200 day moving average of $188.76. Overall earnings estimates have been revised lower since the company's last earnings release. On Monday, November 18, 2019 there was some notable buying of 1,895 contracts of the $160.00 put expiring on Friday, December 20, 2019. Option traders are pricing in a 6.4% move on earnings and the stock has averaged a 26.0% move in recent quarters.
Zscaler, Inc. $52.13
Zscaler, Inc. (ZS) is confirmed to report earnings at approximately 4:05 PM ET on Tuesday, December 3, 2019. The consensus earnings estimate is $0.01 per share on revenue of $89.34 million and the Earnings Whisper ® number is $0.03 per share. Investor sentiment going into the company's earnings release has 75% expecting an earnings beat The company's guidance was for results to range from breakeven to earnings of $0.01 per share on revenue of $89.00 million to $90.00 million. Consensus estimates are for year-over-year earnings growth of 200.00% with revenue increasing by 41.14%. Short interest has increased by 110.8% since the company's last earnings release while the stock has drifted higher by 7.8% from its open following the earnings release to be 18.7% below its 200 day moving average of $64.13. Overall earnings estimates have been revised higher since the company's last earnings release. On Tuesday, November 12, 2019 there was some notable buying of 2,720 contracts of the $47.00 call expiring on Friday, January 17, 2020. Option traders are pricing in a 14.2% move on earnings and the stock has averaged a 15.2% move in recent quarters.
RH $205.59
RH (RH) is confirmed to report earnings at approximately 4:15 PM ET on Wednesday, December 4, 2019. The consensus earnings estimate is $2.21 per share on revenue of $675.57 million and the Earnings Whisper ® number is $2.35 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 27.75% with revenue increasing by 6.13%. Short interest has increased by 14.1% since the company's last earnings release while the stock has drifted higher by 32.3% from its open following the earnings release to be 49.3% above its 200 day moving average of $137.69. Overall earnings estimates have been revised higher since the company's last earnings release. Option traders are pricing in a 13.0% move on earnings and the stock has averaged a 16.2% move in recent quarters.
Okta, Inc. $129.78
Okta, Inc. (OKTA) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, December 5, 2019. The consensus estimate is for a loss of $0.12 per share on revenue of $143.45 million and the Earnings Whisper ® number is ($0.10) per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat The company's guidance was for a loss of $0.13 to $0.12 per share on revenue of $143.00 million to $144.00 million. Consensus estimates are for earnings to decline year-over-year by 220.00% with revenue increasing by 35.87%. Short interest has increased by 25.4% since the company's last earnings release while the stock has drifted lower by 0.7% from its open following the earnings release to be 17.2% above its 200 day moving average of $110.74. Overall earnings estimates have been revised lower since the company's last earnings release. On Wednesday, November 27, 2019 there was some notable buying of 549 contracts of the $170.00 call expiring on Friday, May 15, 2020. Option traders are pricing in a 8.7% move on earnings and the stock has averaged a 8.3% move in recent quarters.
Tiffany & Co. $133.80
Tiffany & Co. (TIF) is confirmed to report earnings at approximately 6:40 AM ET on Thursday, December 5, 2019. The consensus earnings estimate is $0.85 per share on revenue of $1.04 billion. Investor sentiment going into the company's earnings release has 65% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 10.39% with revenue increasing by 2.73%. Short interest has decreased by 38.0% since the company's last earnings release while the stock has drifted higher by 69.6% from its open following the earnings release to be 36.1% above its 200 day moving average of $98.28. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, November 14, 2019 there was some notable buying of 3,427 contracts of the $100.00 put expiring on Friday, February 21, 2020. Option traders are pricing in a 0.5% move on earnings and the stock has averaged a 7.5% move in recent quarters.
DISCUSS!
What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead r/StockMarket.
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