What a silly stock market. There I was on Tuesday at 2:00 p.m. waiting for the Dow Jones Industrial Average to crash 1,700 points as Trump verbally ripped Iran to shreds (and pulled out of the Iran deal). The Dow instantly tanked 80 points one sentence into Trump’s latest global spectacle. But then the Blue Chip index rallied back as Trump continued to hit Iran, and actually finished the session higher. As a 15-year old would put it: #WTF.
For an already jittery market to be able to shrug off major news of this kind is nicely short-term bullish…or is it.
“Couple of thoughts. First, there’s genuine confusion right now about the value of strength. We like strength in employment because there’s no real wage inflation. We like strength in commodities because it means the world’s not slowing down. And we like strength in consumer spending like we heard last night in Disney (DIS) and we have been hearing for weeks now in earnings season,” writes TheStreet’s founder Jim Cramer over on RealMoney on the weird move in the markets Tuesday. In effect, we could be in a short-term good news is good news environment for stocks. That’s an environment where you load back up on cyclicals and hot tech names like Netflix (NFLX) (which could be acquired by Action Alerts PLUS holding Microsoft (MSFT) in within two years, reports TheStreet’s Katherine Ross).
Top Blue Chip Stocks To Watch Right Now: Taiwan Semiconductor Manufacturing Company Ltd.(TSM)
- [By Anders Bylund, Leo Sun, and Demitrios Kalogeropoulos]
Read on to see why you should forget about bitcoin and Ethereum in favor ofTaiwan Semiconductor(NYSE:TSM),eBay(NASDAQ:EBAY), andIntuitive Surgical(NASDAQ:ISRG) — at least when it comes to serious investments for the long term.
- [By ]
Judging by the speculation and the news flowing out of the chip space, Action Alerts PLUS holding Apple (AAPL) may have to wait a bit before breaking through the $1 trillion market cap level. The commentary out of chip supplier Taiwan Semiconductor (TSM) , a company that counts Apple, Qualcomm (QCOM) and Nvidia (NVDA) as customers, that current quarter sales will be about $1 billion less than analysts’ estimates pressured most of the tech space.
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But there are plenty of signs suggesting demand from miners has begun to slow. Retail graphics card prices have begun to fall, and (following big shortages in late 2017 and early 2018) channel inventories are now much-improved. In April, AMD forecast its GPU sales would see a modest sequential decline in Q2 “due to blockchain.” And top chip foundry Taiwan Semiconductor (TSM) , whose clients include Nvidia, AMD and top Bitcoin mining ASIC developer Bitmain, partly blamed a full-year revenue guidance cut on “uncertainty in cryptocurrency mining demand.”
- [By ]
AMD’s comments come amid growing concerns that a slowdown in cryptocurrency mining activity (following a slump in crypto prices) could lead disillusioned miners to flood the market with used graphics cards. Last week, top chip foundry Taiwan Semiconductor (TSM) , which counts AMD, Nvidia (NVDA) and leading crypto mining ASIC developer Bitmain as clients, cautioned that there’s “uncertainty” surrounding second-half crypto demand. AMD believes miners accounted for about 10% of its Q1 sales.
Top Blue Chip Stocks To Watch Right Now: Karyopharm Therapeutics Inc.(KPTI)
- [By Chris Lange]
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) reported results from the Phase 2 portion of pivotal Phase 2/3 SEAL study of selinexor in dedifferentiated liposarcoma (DDLS). The previously reported results met PFS endpoint under RECIST criteria (5.5-month versus 2.7-month with placebo). No benefit was observed under World Health Organization (WHO) criteria, which in DDLS is considered to be a poorer determinant of tumor status since it can mistakenly classify stable disease as progressive disease. Wedbush expects the Phase 3 portion will succeed as well, but the firm notes the limited economic value in the indication given rarity and short duration of use.
- [By Benzinga News Desk]
Shari Redstone is one “disloyal” media heiress, according to CBS (NYSE: CBS): Link
US Initial Jobless Claims for May 18 234.0K vs 220.0K Est; Prior 222.0K. US Continuing Claims for May 11 1.74M vs 1.75M Est; Prior 1.71M
Existing home sales report for April will be released at 10:00 a.m. ET.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
Atlanta Fed President Raphael Bostic will speak at 10:35 a.m. ET.
The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
The Kansas City Fed manufacturing index for May will be released at 11:00 a.m. ET.
Philadelphia Federal Reserve Bank President Patrick Harker is set to speak at 2:00 p.m. ET.
Data on money supply for the latest week will be released at 4:30 p.m. ET.
UBS upgrades Deere (NYSE: DE) from Neutral to Buy
Wells Fargo upgrades Oceaneering (NYSE: OII) from Market Perform to Outperform
Canaccord downgrades Vermillion (NASDAQ: VRML) from Buy to Hold
Wedbush downgrades Karyopharm Therapeutics (NASDAQ: KPTI) from Outperform to Neutral
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.
- [By Shane Hupp]
Karyopharm Therapeutics Inc (NASDAQ:KPTI) – Wedbush issued their Q1 2019 earnings estimates for Karyopharm Therapeutics in a research note issued on Thursday, May 24th. Wedbush analyst D. Nierengarten expects that the company will earn ($0.75) per share for the quarter. Wedbush has a “Neutral” rating and a $19.00 price target on the stock. Wedbush also issued estimates for Karyopharm Therapeutics’ Q2 2019 earnings at ($0.75) EPS, Q3 2019 earnings at ($0.71) EPS and Q4 2019 earnings at ($0.67) EPS.
- [By Stephan Byrd]
Karyopharm Therapeutics (NASDAQ:KPTI) last issued its quarterly earnings data on Thursday, March 15th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.14). The business had revenue of $1.53 million during the quarter, compared to the consensus estimate of $2.26 million. During the same quarter in the prior year, the firm posted ($0.65) earnings per share. The company’s revenue for the quarter was up 3163.8% compared to the same quarter last year. analysts anticipate that Karyopharm Therapeutics will post -2.82 earnings per share for the current fiscal year.
- [By Stephan Byrd]
Karyopharm Therapeutics (NASDAQ:KPTI) – Investment analysts at Jefferies Group lowered their Q2 2018 earnings estimates for Karyopharm Therapeutics in a research note issued on Tuesday, May 15th. Jefferies Group analyst M. Raycroft now forecasts that the company will post earnings per share of ($0.77) for the quarter, down from their prior estimate of ($0.62). Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Karyopharm Therapeutics’ Q3 2018 earnings at ($0.71) EPS, Q4 2018 earnings at ($0.78) EPS, FY2018 earnings at ($3.03) EPS, FY2019 earnings at ($2.66) EPS, FY2020 earnings at ($1.05) EPS, FY2021 earnings at ($0.74) EPS and FY2022 earnings at $0.73 EPS.
Top Blue Chip Stocks To Watch Right Now: Pure Cycle Corporation(PCYO)
- [By Max Byerly]
Artesian Resources Co. Class A (NASDAQ: ARTNA) and Pure Cycle (NASDAQ:PCYO) are both small-cap utilities companies, but which is the better investment? We will contrast the two companies based on the strength of their dividends, risk, analyst recommendations, valuation, institutional ownership, profitability and earnings.