It’s been three trading days since the U.S. Federal reserve hiked interest rates–and the stock market has been moribund ever since.
The S&P 500 declined 0.2% to 2,373.47 today, while the Dow Jones Industrial Average dipped 8.76 points to 20,905.86. The Nasdaq Composite finished little changed at 5,901.53. The Dow Jones Industrial Average has dipped44.24 points, or 0.2%, over the last three trading days.
Ameriprise Financial’s David Joy is already looking ahead to the next rate hike:
The Fed has three remaining meetings throughout the year that are accompanied by updated economic projections and press conferences, in June, September, and December. While the Fed insists that all Federal Open Markets Committee (FOMC) meetings are live, meaning opportunities for changes in monetary policy, it is widely assumed that the press conference meetings are the more likely candidates. Although some believe the Fed is in danger of falling behind the curve, unless the economic data accelerates sharply, especially on the inflation front, it seems unlikely that the Fed would want to raise again as early as June. Three rate hikes in six months after just one in the previous twelve might be too aggressive a shift in policy. Nevertheless, futures suggest better than even odds that another rate hike will come in June. More likely, the Fed waits to observe conditions a little longer, targeting September for its next move.
Hot High Tech Stocks To Watch Right Now: Rockwell Collins, Inc.(COL)
- [By Ben Levisohn]
Rockwell Collins (COL) has fallen 2.6% to $68.21 after it was downgraded to Neutral from Outperform at Credit Suisse.
General Electric (GE) has gained 1% to $24.25 after signing a bunch of deals and getting a positive mention from my colleague Jack Hough in this weekend’s Barron’s.
- [By Lisa Levin] Related TRST Earnings Scheduled For October 21, 2016 Major Accounting Changes Are Coming To The Financial Industry
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Rockwell Collins, Inc. (NYSE: COL) is estimated to report quarterly earnings at $1.31 per share on revenue of $1.33 billion.
General Electric Company (NYSE: GE) is expected to report quarterly earnings at $0.17 per share on revenue of $26.46 billion.
Honeywell International Inc. (NYSE: HON) is estimated to report quarterly earnings at $1.60 per share on revenue of $9.32 billion.
Interpublic Group of Companies Inc (NYSE: IPG) is expected to report quarterly earnings at $0.03 per share on revenue of $1.76 billion.
Schlumberger Limited. (NYSE: SLB) is estimated to report quarterly earnings at $0.26 per share on revenue of $7.02 billion.
SunTrust Banks, Inc. (NYSE: STI) is expected to report quarterly earnings at $0.83 per share on revenue of $2.21 billion.
ManpowerGroup Inc. (NYSE: MAN) is projected to report quarterly earnings at $1.11 per share on revenue of $4.68 billion.
Kansas City Southern (NYSE: KSU) is estimated to report quarterly earnings at $1.15 per share on revenue of $593.82 million.
Stanley Black & Decker, Inc. (NYSE: SWK) is projected to report quarterly earnings at $1.19 per share on revenue of $2.74 billion.
WABCO Holdings Inc. (NYSE: WBC) is estimated to report quarterly earnings at $1.44 per share on revenue of $721.89 million.
- [By Jayson Derrick]
Honorable Mention: Rockwell Collins, Inc. (NYSE: COL) with a $122 price target.
Technology, Media And Telecom
Within the crowded technology, media and telecommunication group, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) is a top pick given its prospects for continued growth in mobile search and YouTube. Beyond these two segments, the analysts also see continued momentum in Alphabet’s core Google operations.
Hot High Tech Stocks To Watch Right Now: Tahoe Resources, Inc.(TAHO)
- [By Diane Alter]
Best Silver Stocks to Buy Now, No. 1: Tahoe Resources (NYSE: TAHO) is a Nevada-based silver miner that operates in the Americas. The company primarily produces silver, but also works with copper, gold, lead, zinc, natural gas, and petroleum. On Aug. 10, TAHO reported Q2 earnings per share of $0.19, $0.05 better than expected. Revenue rose 70.6% year over year to $228.3 million. The company recorded half-year production of 11.4 million ounces of silver and 167,168 ounces of gold. Based on operating results during the first six months of 2016, and expectations for the second half of the year, TAHO expects to achieve the top end of its 2016 guidance for silver production. New quarterly filings reveal influential hedge fund Bridgewater Associates took a new position of approximately 200,000 TAHO shares. At $13.89, TAHO is up 60.32% in 2016.
- [By Paul Ausick]
Tahoe Resources Inc. (NYSE: TAHO) dropped about 8.6% Friday, to post a new 52-week low of $7.27 after closing at $7.95 on Thursday. The stock’s 52-week high is $17.01. Volume was approaching double the daily average of around 2.6 million shares. The gold and silver miner reported results last night that missed profit estimates.
Hot High Tech Stocks To Watch Right Now: Boot(h)
- [By Lee Jackson]
A10% owner of Hyatt Hotels Corp. (NYSE: H) wasselling some stock this past week. Elsinore Trust parted with a total of 108,815 shares at prices between $52.37 and $53.34. That netted the trust some $2.7 million. The stock closed last Friday at $52.62. The 52-week range for the hotel chain is $44.30 to $58.05, while the consensus price target is $56.44.
Hot High Tech Stocks To Watch Right Now: Move Inc.(MOVE)
- [By Renu Singh]
Aruba Networks (ARUN) is a leading provider of next-generation network access solutions for mobile enterprise. The company’s Mobile Virtual Enterprise (MOVE) architecture unifies wired and wireless network infrastructures into one seamless access solution for corporate headquarters, mobile business professionals, remote workers and guests. This unified approach to access networks enables IT organizations and users to securely address the Bring Your Own Device (BYOD) phenomenon, dramatically improving productivity and lowering capital and operational costs.