F5 Plummets as It Becomes the Latest Cloud Victim

Undeniably, 2019 has been a strong year for technology stocks. The tech-heavy Nasdaq was recently up just over 30%, but it’s important to remember that the stock market and the major indexes are really a market of stocks. Some multi-billion companies have underperformed peers, and others actually have seen their shares take it in the chin. F5 Networks Inc. (NASDAQ: FFIV) has fallen into both categories. After closing out 2018 at close to $160, its shares most recently closed down about 10% on the year at $143.58. Then things went from bad to worse after a key analyst, who was previously positive and above-consensus, decided that it was time to play the Benedict Arnold game with F5 Networks.

Merrill Lynch’s Tal Liani had a Buy rating and a $185 price target that was about $20 higher than the consensus analyst target price, and was only about 3% or 4% shy of having the highest price target on Wall Street. That’s all history now. Liani issued a rare two-notch downgrade, skipping Neutral and taking the stock to the dreaded Underperform rating. That’s a Sell rating equivalent at other firms. The above-consensus price objective was taken all the way down to $140.

The Merrill Lynch report’s tag-line was “Existential hardware decline too big to ignore,” and that was too big for investors to ignore as well.

While the new valuation is based on about 13 times the expected 2021 price-to-earnings ratio, down from about 16.5 times, Merrill Lynch does not see it as a value stock despite having a sub-market multiple. Liani has cited prolonged pressure on revenue growth coming from a secular shift in demand from appliance-based application delivery controllers (ADCs) to software and cloud-based solutions. According to the report, this has pressured its pricing power at the same time

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Charting a bull-bear stalemate: S&P 500, Nasdaq maintain major support

U.S. stocks are mixed early Thursday, treading water in the wake of a wide-ranging December market whipsaw.

Amid the cross currents, the major benchmarks have diverged slightly — the prevailing backdrop is not one-size-fits-all — though the bigger-picture market technicals remain comfortably bullish, on balance.

Before detailing the U.S. markets’ wider view, the S&P 500’s

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U.S. stocks slip as investors ponder chances of U.S. – China trade deal

U.S. stocks are marginally lower Thursday as investors remain optimistic about prospects for a U.S.-China trade deal despite a looming deadline for the imposition of fresh import imports tariffs by President Donald Trump.

How are major benchmarks performing?

The Dow Jones Industrial Average DJIA, -0.15%   was down 57 points or 0.2% at 27,595 while the S&P 500 SPX, -0.08%  was off 3 points or 0.1% at 3,109 and Nasdaq 100 COMP, -0.13%  was down 11 points or 0.1% higher at 8,556. One bright spot: the Russell 2000 RUT, +0.03%   gained more than 2 points, 0.2%, to trade near 1,616.

On Wednesday, the Dow rose 146.97 points, 0.5%, to 27,649.78 while the S&P 500 index added 19.56 points, or 0.6%, to close at 3,112.76 and the Nasdaq Composite Index advanced 46.03 points, or 0.5%, to end the session at 8,566.67.

For the week, the Dow is on track to decline 1.4%, the S&P 500 is poised for a 0.9% weekly skid, while the Nasdaq Composite was on track for a decline of 1.1%, as of Wednesday’s close.

What’s driving the market?

Investors were still optimistic about a Sino-American trade deal after a spokesman for China’s Ministry of Commerce, Gao Feng, said at a weekly briefing on Thursday that negotiations toward a so-called phase-one pact to cease tariff hostilities between the world’s largest economies are progressing. However, Feng didn’t provide further details on talks and emphasized that China wants a rollback of existing tariffs to be included as a part of any resolution.

The comments come after President Trump, speaking at a meeting with German Chancellor Angela Merkel on Wednesday, described negotiations in upbeat terms ahead of a Dec. 15 deadline at which import duties will be placed on $156 billion in China goods.

President Trump earlier in the week

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Stocks – Wall Street Flat as Traders Digest Jobs Data, Trade News 

© Reuters.

Investing.com – Wall Street was flat on Thursday as upbeat jobs data and optimism over trade failed to make any material impact.

The was at 27,621.15 points by 10:02 AM ET (15:02 GMT), down 0.1%, while the was down in line and the was effectively unchanged.

Weekly claims fell to a seventh-month low last week, suggesting the labor market remains strong. Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 203,000 for the week ended Nov. 30, the lowest level since mid-April, the Labor Department said on Thursday.

On the trade front, China reiterated its expectations that tariffs should be lifted as part of a phase-one deal, after Bloomberg reported on Wednesday that U.S. officials expect a deal before the latest round of American tariffs takes effect on Dec. 15.

“The Chinese side believes that if the two sides reach a phase one deal, tariffs should be lowered accordingly,” ministry spokesman Gao Feng said. Both sides remain in discussions over the deal, he added.

Nike (NYSE:) rose 1.9% on an analyst upgrade, while Signet Jewelers (NYSE:) surged 9% after losses came in lower than expected for the third-quarter.

Slack Technologies (NYSE:) fell 4.5% after guidance for its bottom line suggest costs could be higher than expected for the current quarter.

In commodities, the , which measures the greenback against a basket of six major currencies, was down 0.2% to 97.390 and inched up 0.1% to $1,481.25 a troy ounce. gained 0.9% to $58.92 a barrel.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ

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Stocks Decline as Trade in Focus; Bonds Drop: Markets Wrap

(Bloomberg) — Stocks fell as investors weighed the chances that the U.S. will scrap a tariff hike on Chinese goods scheduled for Dec. 15. Bonds dropped.

The Index erased early gains. Treasury yields climbed to 1.8% as data showed U.S. jobless claims unexpectedly to a seven-month low, signaling resilience in the labor market ahead of Friday’s jobs report. Oil fluctuated as OPEC ministers gather in Vienna to discuss output cuts.

Investors watched for signs the world’s two largest economies will reach a truce in a dispute that’s led to the largest volley of tariffs since the 1930s. Chinese officials are in “close contact” with U.S. counterparts on negotiations, according to Ministry of Commerce spokesman Gao Feng. President Donald Trump said Wednesday that discussions with China are going very well.

“If we do just muddle along and there aren’t the tariff increases on Dec. 15, we’ll probably see something of a stable stock-market environment,” Kristina Hooper, chief global market strategist at Invesco Ltd., told Bloomberg TV. Any negative trade news “could be the spoiler for what otherwise would be a fairly solid month for stocks,” she said.

On corporate news:

Apple Inc (NASDAQ:). climbed as its price target was raised at Citigroup Inc (NYSE:)., which forecast strong results in the holiday quarter. Dollar General Corp (NYSE:). rose after boosting its profit forecast. ACADIA Pharmaceuticals Inc (NASDAQ:) jumped after new data from its antipsychotic pimavanserin came in better than anticipated in elderly patients with dementia. Sage Therapeutic (NASDAQ:) sank after an experimental treatment for major depressive disorder failed to reach its primary target in a key study. At Home Group Inc (NYSE:) tumbled as its forecast disappointed investors.

Here are some key events coming up this week:

Friday brings the U.S. jobs report. The Labor Department figures are set to

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Wall Street dips on lack of fresh update on trade talks

(Reuters) – U.S. stocks dipped on Thursday as declines in defensive sectors such as consumer staples overshadowed gains in technology stocks, while the absence of new updates in U.S.-China trade talks kept investors on the sidelines.

Wall Street’s main indexes opened higher, extending gains from the previous session, but quickly lost steam in the first hour of trading.

“There is no new news on the trade war and it’s mostly that,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.

“So unless we get a positive or negative story to push the market one way or the other, we might as well be trading in this range for a while.”

Wall Street snapped a three-day losing streak in the previous session as headlines suggested the world’s two largest economies were closer to agreeing how many tariffs would be rolled back in a “phase one” trade deal. If no agreement is reached soon, more tariffs on Chinese goods will kick in from Dec. 15.

The consumer staples .SPLRCS sector shed 0.6% on Thursday, leading declines among the 11 major sectors, while tech stocks .SPLRCT rose 0.2%.

Adding to the risk off mood were comments from U.S. House of Representatives Speaker Nancy Pelosi, who said she had directed a House committee to draft articles of impeachment against President Donald Trump.

The Dow Jones Industrial Average .DJI was down 40.79 points, or 0.15%, at 27,608.99, the S&P 500 .SPX was down 2.18 points, or 0.07%, at 3,110.58 and the Nasdaq Composite .IXIC was down 4.83 points, or 0.06%, at 8,561.84.

Investors also shrugged off data that showed U.S. trade deficit dropped to its lowest level in nearly 1-1/2 years in October, while another report suggested the labor market remained in good shape after weekly jobless claims fell.

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Indexes Regain Some Ground, Closing Higher Wednesday

The Dow Jones Industrial Average closed at 27649.78 on Wednesday with a gain of 146.97 points or 0.53%. The S&P 500 closed at 3112.76 for a gain of 19.56 points or 0.63%. The Nasdaq Composite closed at 8566.67 for a gain of 46.03 points or 0.54%. The VIX Volatility Index was lower at 14.80 for a loss of 1.16 points or -7.27%.

Wednesday’s market movers

U.S. indexes rallied Wednesday after U.S. negotiators reported a China trade deal could potentially be achieved by December 15. Energy, financial and healthcare stocks led gains in the S&P 500. The technology sector was also in the spotlight with a battle over new digital services taxes. France has imposed a 3% digital services tax on U.S. companies and the U.K. is threatening a 2% tax.

Economic reports showed mixed results Wednesday. The following reports were released:

The MBA Mortgage Applications Index decreased 9.2% following an increase of 1.5%. The MBA’s average 30-year mortgage rate remained at 3.97%. The ADP private sector employment report showed an increase of 67,000 in November, below expectations of approximately 145,000 and below the previous gain of 121,000. The Markit Composite PMI increased to 52.0 in November from 50.9. The Markit Services PMI increased to 51.6 in November from 50.6. The ISM Non-Manufacturing PMI decreased to 53.9 in November from 54.7. Separately, the ISM Non-Manufacturing Employment Index increased to 55.5 from 53.7, the ISM Non-Manufacturing Business Activity Index decreased to 51.6 from 57.0, The ISM Non-Manufacturing Prices Index increased to 58.5 from 56.6 and the ISM Non-Manufacturing New Orders Index increased to 57.1 from 55.6. The EIA’s Weekly Petroleum Status report showed a decrease of 4.856 million barrels in inventory following an increase of 1.572 million barrels. Motor vehicle sales increased to a seasonally adjusted annual rate of 17.1 million

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Equities Move Higher, The Pound Breaks Out, Still No Phase One Trade Deal

Equities Move Higher, The Pound Breaks Out, Still No Phase One Trade Deal
Thursday, December 05, 2019

by FX Empire of FX Empire

The U.S. Markets Are Up In Early Thursday Trading

The U.S. index futures are pointing to a mildly higher open at the start of trading on Thursday. The move is driven by lingering hope the Phase One Trade Deal will be reached soon. Conflicting news over the past few days has induced volatility into the market. If the deal is not reached soon, or fails to impress investors, the equity market could resume its slide. In trade news, reports from sources close to the talks say a deal is getting closer. China is silent about the revelation which many indicate truth to the story. Todays action is lead by the NASDAQ Composite with a gain of 0.42%. The Dow Jones Industrial Average and S&P 500 are both up about 0.25%.

Todays economic calendar included a record-setting low for initial claims and other positive data from the labor market. Initial claims fell to 203,000 and set a new 50-year low. The caveat is that seasonal hiring and the census may have skewed the data. Nevertheless, the jobless claims are backed up by the Challenger report which shows a decline in layoffs from the last month. Traders are no on alert for the NFP report which is slated for tomorrow. The ADP suggests weakness in the labor market the NFP may not confirm.

This Article was written by FX Empire’s Thomas Hughes.

For the full article:


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Stocks in Play: DHX Media

Dec 05, 2019 (Baystreet.ca via COMTEX) —

Thursday, December 5, 2019

10:10 AM EST – DHX Media : Announced that it has notified the NASDAQ Stock Market LLC of its intention to voluntarily de-list its common voting shares and variable voting shares from NASDAQ. WildBrain’s Shares will continue to trade on the Toronto Stock Exchange. DHX Media (T.DHX) shares were down $0.08 at 1.53.

Stocks in Play: DHX Media, Thu, 05 Dec 2019 10:12:58 EST

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