Wall Street could hardly be quieter, with large-cap stocks in their narrowest trading range since the 1960s as the CBOE Volatility Index (VIX) continues in its longest consecutive streak below 11.
The national psyche is obsessed with the cavalcade of political news out of Washington; largely ignoring market-specific events like chatter of an OPEC-Russia supply freeze extension of a bit of softness in the housing market. Despite this, Big Tech stocks remain well bid with a narrow group of all-stars pushing the Nasdaq to a new high.
In the end, the Dow Jones Industrial Average lost a fraction, the S&P 500 lost 0.1%, the Nasdaq Composite gained 0.3% and the Russell 2000 gained 0.1%. Treasury bonds were stronger, the dollar weakened again, gold gained 0.5% and crude oil lost 0.4% as the bounce from the supply freeze extension news from earlier in the week faded on realization it will only steepen OPEC’s market share loss to U.S. shale producers.
great stocks under 10: BanColombia S.A.(CIB)
- [By Monica Gerson]
Bancolombia SA (ADR) (NYSE: CIB) is expected to post its quarterly earnings at $0.77 per share on revenue of $945.66 million.
Cellcom Israel Ltd. (NYSE: CEL) is estimated to post its earnings for the latest quarter.
- [By Javier Hasse]
Analysts at Credit Suisse downgraded shares of Bancolombia SA (ADR) (NYSE: CIB) from Outperform to Neutral, while boosting their price target from $38 to $40.
- [By Lisa Levin]
Foreign Regional Banks: This industry declined 2 percent by 11:00 am with Bancolombia SA (ADR) (NYSE: CIB) moving down 3.7 percent. Bancolombia’s PEG ratio is 4.51.
great stocks under 10: VEXIM EUR0.10 (VXMFF)
- [By SEEKINGALPHA.COM]
French medical device maker Vexim (OTC:VXMFF) contracted with an unnamed China lab to begin China registration studies for its vertebral fracture repair device, SpineJack庐. Vexim recently was granted patents for the device in China and Japan. SpineJack is an implant designed to repair a fractured vertebra and restore spinal cord balance. The 30 minute procedure is useful in 95% of vertebral fractures, according to Vexim. SpineJack was CE marked for EU use in 2010 and now is indicated for trauma and other vertebral fractures.
great stocks under 10: Big Lots, Inc.(BIG)
- [By Lisa Levin]
Big Lots, Inc. (NYSE: BIG) reported better-than-expected earnings for its third quarter, and raised its FY17 guidance.
Big Lots posted quarterly earnings of $0.06 per share on revenue of $1.111 billion. However, analysts were expecting earnings of $0.04 per share on revenue of $1.12 billion. Its comparable store sales rose 1 percent during the quarter.
- [By Peter Graham]
A long term performance chart shows small cap off-price or value price retailers like Five Belowand Big Lots (NYSE: BIG) along with large capRoss Stores, Inc (NASDAQ: ROST) largely moving higher in positive territoryamidstvolatility:
- [By Peter Graham]
A long term performance chart shows small cap off-price or value price retailers like Five Belowand Big Lots (NYSE: BIG) along with large capRoss Stores, Inc (NASDAQ: ROST) largely moving into positive territory albeit with their share of volatility:
great stocks under 10: Teck Resources Ltd(TCK)
- [By Benzinga News Desk]
Stephens (Equal-Weight) and Citi (Sell) both downgraded Atwood Oceanics (NYSE: ATW).
Sell-Side's Most Noteworthy Calls
Investec downgraded Anheuser-Busch (NYSE: BUD) to Hold.
Deutsche Bank downgraded Freeport McMoRan (NYSE: FCX) to Hold.
Goldman Sachs upgraded Microsoft (NASDAQ: MSFT) to Buy.
Barclays upgraded Teck Resources (NYSE: TCK) to Overweight.
BTIG started Adobe (NASDAQ: ADBE) at Neutral.
U.S. oil refiner Tesoro (NYSE: TSO) said it would buy Western Refining (NYSE: WNR) for $4.1 billion to add refineries in Texas, New Mexico and Minnesota. The combined company will have refining capacity of over 1.1 million barrels per day. Tesoro has refineries in California, Washington, Alaska, Utah and North Dakota.
great stocks under 10: Chipotle Mexican Grill Inc.(CMG)
- [By Casey Wilson]
Unfortunately, there were a lot of disappointing companies to choose from. We picked the worst of the worst. Check out our list of the most-hated companies of 2016…
Most-Hated Companies 2016 No. 5: Chipotle Mexican Grill Inc. (NYSE: CMG)
Chipotle’s problems all started in July 2015 with an E. coli outbreak…
- [By Rick Munarriz]
Just when you thought that a return to positive comps would spell an end to the giveaways thatChipotle Mexican Grill(NYSE:CMG)sprinkled through 2016, the former fast-casual darling is back with another online game where everybody’s a winner.
- [By Peter Graham]
Troubled mid cap restaurant stock Chipotle Mexican Grill, Inc (NYSE: CMG) reported Q2 2017 earnings after the market closed today. Revenue was up 17.1% to $1.17 billion driven by new restaurant openings (50 new restaurants were opened during the quarter and two were closed, bringing the total restaurant count to 2,339) and an 8.1% increase in comparable restaurant sales. Comparable restaurant sales improved primarily due to an increase in customer visits, along with an increase in average check as a result of a reduction in promotional activity. Food costs were 34.1% of revenue, a decrease of 10 basis points as compared to the second quarter of 2016 ashigher avocado costs were offset by lower costs from bringing the preparation of lettuce and bell peppers back intorestaurants, as well as the benefit of menu price increases in select restaurants in the second quarter of 2017, and a decrease in paper usage and costs. Net income increased 161% to $66.7 million.
- [By Ben Levisohn]
Chipotle Mexican Grill (CMG) soared to the top of the S&P 500 today after M Science, a data analytics firm, predicted better same-store sales.
Chipotle Mexican Grillgained 2.8% to $407.52 today, while the S&P 500 dropped 1.2% to 2,344.02.
Bloomberg’s Craig Giammona and Leslie Patton have the details on the M Science report:
Chipotle Mexican Grill Inc. shares rose the most in almost six weeks after data-analysis firm M Science predicted that first-quarter sales will easily beat Wall Streets estimates, bringing a ray of optimism to a chain battered by a food-safety crisis.
The researcher studied same-store sales during February and the first 10 days of March, according to M Science Chief Executive Officer Michael Marrale. The firm made the call based on multiple data sets and proprietary models, he said.
Chipotle Mexican Grill’s market capitalization rose to $12.9 billion today from $11.4 billion yesterday. It reported net income of $22.9 million on sales of $3.9 billion in 2016.
- [By Demitrios Kalogeropoulos]
As for individual stocks, Chipotle Mexican Grill(NYSE:CMG) and iRobot (NASDAQ:IRBT) both enjoyed market-beating gains as investors reacted to fresh quarterly earnings reports.
- [By The Ticker Tape]
For more earnings coverage, check out what might be expected when McDonald's Corporation (NYSE: MCD) The Coca-Cola Co (NYSE: KO), and Chipotle Mexican Grill, Inc. (NYSE: CMG) report earnings tomorrow. Later in the week, tech titans Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Microsoft Corporation (NASDAQ: MSFT) and Intel Corporation (NASDAQ: INTC) report after market close on Thursday.
great stocks under 10: Xcel Energy Inc.(XEL)
- [By Shauna O’Brien]
Jefferies announced on Wednesday that it has raised its rating on Xcel Energy Inc (XEL).
The firm has upgraded XEL from “Hold” to “Buy,” and has raised the company’s price target from $31 to $32.50. This new price target suggests a 15% upside from the stock’s current price of $27.72.
Analyst Paul B. Fremont commented: “The stock is currently trading at an 8% P/E discount to our 2015E group average multiple.”
“Despite a difficult political environment in Minnesota the company was able to achieve a reasonable outcome in its NSP-Minnesota rate case,” the analyst added.
Looking forward, the firm has increased its FY2014 outlook from $1.95 to $2.00 per share.
Xcel Energy shares were mostly flat during pre-market trading Wednesday. The stock has been mostly flat YTD.