Sunday , February 28 2021

Wall Street AOF Analysis – Strong fall: oil and distribution take over technology stocks – Indicators & Actions



(AOF) – US markets are sinking again. At the forefront of the fall on Monday, tech stocks are a little better than the market. Other sectors have taken over, including oil due to falling prices. The WTI fell by nearly 7%, widening its losses, while Donald Trump participated with Saudi Arabia in the event of the assassination of the journalist. The retail sector suffered from poor reception of Target's results. Dow Jones declined 2.21% to 24,465.64 points and Nasdaq Composite reached 1.70% at 6,908.82 points.

target declined 11.05% to $ 69.025 in the stock market after disappointing quarterly results. For example, the largest US distributor showed net income of 30% at $ 622 million or $ 1.17 per share in the third quarter. Excluding extraordinary data, the EPS was $ 1.09, lower than consensus at $ 1.11. Turnover increased by 5.6% to 17.82 billion euros, while Wall Street was 17.76 billion euros. Sales in stores opened more than a year ago amounted to 5.1%, while the market was expected to be 5.5%.

The financial data of the day

In the United States, 1,228 million residential homes were registered in October 2018, after 1,210 million (revised 1,201 million) in September and a Reuters consensus of 1,225 million. In addition, 1,263 million building permits were posted in October, after 1,270 million (a revised amount of 1,241 million euros) in September and a Reuters consensus of 1,267 million.

The values ​​that will follow today

APPLE
There is no respite for Apple, which should be reduced when opening Wall Street, like other technology stocks. A reduction of more than 2% is expected, so the stock should exceed 20% compared to the highest. What Anglo-Saxon investors call a "bear market". However, Apple has posted positive results since January 1st. Today, Goldman Sachs confirmed Neutral's opinion but reduced the target price from $ 209 to $ 182.

BEST MARKET
Best Buy achieved net profit in the third quarter of 2018, up 16% to $ 277 million or 99 cents a share. Excluding non-recurring items, US consumer electronics equipment was 93 cents. Turnover increased by 3% to 9.59 billion euros. Analysts expected the EPS, excluding outstanding items, to be 85 cents and a turnover of 9.57 billion euros. Sales in stores that were opened more than a year ago amounted to 4.3%, while consensus increased by 3.5%.

BOSTON SCIENTIFIC
Boston Scientific has signed an agreement to acquire the UK BTG medical device manufacturer for 3.3 billion pounds. The US medtech will offer 840 pence a share, a 36.6% premium against the closing price of 615 pence on Monday, the British group. The Board of Directors of BTG has recommended the offer to its shareholders.

CME
Berenberg raised its target price from $ 184 to $ 220 and its recommendation for Buy to Buy in the CME Group as part of a stock market study. The advisory firm estimates strong cash production and earnings. It also considers that its valuation is justified by very large barriers to entry.

L Marks (Secret of Victoria)
If Victoria's last show, on November 8th, has made all her promises as usual, this is not the case with the latest version of L Brands, the parent company of the iconic lingerie brand. If the quarterly results are consistent with the Group's own forecast in October, the announcement of an annual dividend divided into two may disappoint. The company plans to pay a dividend of $ 1.20 versus $ 2.40 last year.

TARGET
Target has released disappointing quarterly results. In the third quarter of 2018, the largest US distributor made a net profit of up to 30% to $ 622 million or $ 1.17 per share. Excluding extraordinary data, the EPS was $ 1.09, lower than consensus at $ 1.11. Turnover increased by 5.6% to 17.82 billion euros, while Wall Street was 17.76 billion euros. Sales in stores opened more than a year ago amounted to 5.1%, while the market was expected to be 5.5%.

ACCESSORIES OF URBAN
Urban Outfitters showed quarterly results. As a result, the group reported net income of $ 78 million and earnings per share of € 0.70. Turnover increased by 9% over the same period last year to $ 974 million.

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