Daily Market Briefing

U.S. Stocks to Likely Pull Back Sharply Today

November 20, 2020: (2:00 am U.S. Eastern Time): The recent trading action in the U.S. stock market, and the latest readings on some key economic indicators, suggests that U.S. stock prices, in general, will pull back sharply today. Looking forward, we expect U.S. stock prices to trade in a volatile sideways range until the final results of the November 3, 2020 U.S. elections are determined. In the event that the Republicans were to remain in control of the U.S. Senate, which our research indicates is likely to occur, we would expect stock prices to also move in a volatile sideways range, with a modest downward bias, during early 2021, but to move substantially lower by April of 2021. For more information regarding our analysis of significant economic, geopolitical and financial market developments, and how to profit from the major upturns and avoid the big downturns in the worldwide financial markets, we encourage you to click on the following link to subscribe to our financial market research and advisory journals.

Headline News

November 16-20, 2020

  • United Kingdom retail sales rose for fifth consecutive month during October, although at a slower pace than during September
  • Philadelphia area manufacturing activity to likely slow during full month of November according to survey data released by the Federal Reserve Bank of Philadelphia
  • Initial claims for U.S. unemployment benefits rose by 31,000 for the week ended November 13
  • New U.S. housing starts rose for second consecutive month during October, but the number of building permits issued for the construction of new homes was unchanged during October
  • Japan's exports declined, on a year-over-year basis, by only 0.2% duirng October after falling sharply from March to September
  • U.S. retail sales rose at a substantially slower pace during October than during the prior month, increasing by only 0.2%, on an inflation- and seasonally-adjusted basis
  • U.S. industrial production rose by 1.1%, on an inflation- and seasonally-adjusted basis, during October, as compared to the prior month, after declining by 0.4% during September
  • National Association of Homebuilders' Housing Market Index rose during first half of November to highest level since January 1985
  • New York area manufacturing activity to likely slow for second consecutive month during November
  • Japan's industrial production rose for fourth consecutive month during September, the latest month for which data are available
  • China's industrial production rose, on a year-over-year basis, for seventh consecutive month during October
  • China's retail sales rose, on a year-over-year basis, for third consecutive month during October

Significant Developments

U.S. Economic Developments

U.S. Political Developments

Earnings Announcements

International Economic Developments

International Political Developments

Coronavirus Continues to Spread

02/26/20: The World Health Organization (“WHO”) reported today that approximately 81,109 people worldwide have now been infected with the coronavirus and that approximately 2,760 people worldwide have died from the disease, with 98% of those deaths occurring in China....

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Company and Stock News

November 17, 2020 Company and Stock News

  • Mastercard (MA) announced that it’s extending the Google Pay service to the company’s cardholders across Austria, Bulgaria, Estonia, Greece, Hungary, Latvia, Lithuania, Netherlands, Portugal, and Romania, effective today.
  • Bristol Myers Squibb (BMY) announced that it successfully completed its acquisition of MyoKardia (MYOK) in an all cash transaction for $13.1 billion.
  • Bally’s (BALY) announced that the U.S. Federal Trade Commission approved an acquisition by the company of Jumer’s Casino & Hotel in Illinois.

Stock of Week

Mimecast Limited (MIME)

Mimecast Limited (MIME) is a global provider of cloud-based cyber-attack protection applications for business email, which is the number-one threat to businesses regarding their computer-based data. The company's customers include Barracuda Networks, Alphabet, Microsoft and Symantec Corporation. According to Mimecast’s management, none of the company’s competitors offer the fully-unified and integrated email protection application that it provides.

Composite Fundamental Rating Product Sales & EPS Growth (Qtrly) Profit Margins Financial Liquidity Long-term Debt Institution Buys to Sells
B- A A+ C B- C C

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Investors Monitor 20

Company NameTickerIndustryComposite RatingInvestors Monitor Grade
ProductSales & EPS GrowthProfit MarginsFinancial LiquidityLong-term DebtInstitution Buys to Sells
Alarm.Com HoldingsALRMHome SecurityB-ABCA+CB
Applied OptoelectronicsAAOIFiber OpticsA-A+A+B+A+A+B+
Arista NetworksANETNetwork AppsA+AA+AA+A+A
Control4 CorporationCTRLHome DevicesB-ACCA+A+A
Floor & Décor HoldingsFNDHome FlooringB-AA+CB-C-B+
General ElectricGEConglomerateBAC+B-A+CA
GrubHubGRUBMobile OrdersB+A+AB+A+BC
Malibu BoatsMBUUBoat Mfg.C+ACB-B-C-D
Masimo CorpMASIMedical DevicesA-ABAA+A+B
Micron Technology MUSemiconductorsA-A+AA+A+A+D
Momo Inc. MOMOSocial MediaA+AA+A+A+A+D
Ollie's Bargain Outlet OLLIDiscount StoresB+B+AB+A+AC+
Qualys QLYSInternet SecurityA-AAB+A+A+C
SolarEdge TechnologiesSEDGSolar PanelsA+AAAA+AA
The Trade DeskTTDAdvertisingB+AAC+A+A+B
WalmartWMTRetail StoresB-A+C+CC+A-C+
Weibo CorporationWBSocial MediaA+AA+A-A+A+A
Winnebago IndustriesWGORV Mfg.C-ACCC+DC

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