Daily Market Briefing

U.S. Stocks to Likely Pull Back a Bit Through the End of this Week after Rising to Short-term Overbought Territory

June 18, 2019: (5:00 pm U.S. Eastern Time): The recent trading action in the U.S. stock market suggests that U.S. stock prices, in general, will pull back a bit through the end of this week after rising today to substantial short-term overbought territory. Looking forward, the latest readings on numerous economic and stock market indicators for the United States suggest that U.S. stock prices will trade in a volatile sideways range over the next several weeks.

Headline News

June 18, 2019

  • U.S. new housing starts essentially unchanged during May
  • Eurozone institutional investors became most pessimistic over the past two weeks since January of this year regarding the near-term future direction of the Eurozone economy
  • President Trump and China's President Xi agree to discuss U.S.-China trade disputes at the G-20 meeting in China during the week of June 24-28

Significant Developments

U.S. Economic Developments

U.S. Political Developments

Earnings Announcements

Broadcom and Duluth Holdings Announce Quarterly Earnings

06/13/19: Broadcom (AVGO) reported that its income from continuing operations before income taxes declined by 35.6% on a 10% increase in the company’s revenues, a 1.4% decrease in its cost of goods sold and a 67.4% increase in its operating expenses for the three...

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International Economic Developments

International Political Developments

Company and Stock News

June 14, 2019 Company and Stock News

  • Boeing (BA) entered into agreement to acquire California-based EnCore Group, a designer and producer of galleys and seats for airlines
  • Cheniere Energy (LNG) started production of liquefied natural gas from its second liquefaction train at its Corpus Christi, Texas facility
  • Diana Shipping (DSX) signed an agreement to sell its Thetis ship to an unaffiliated third-part for $6.4 million; separately, the company announced that it commenced a tender offer to purchase up to 2 million shares of its common stock
  • The Meet Group (MEET) announced that its Board of Directors authorized the company to repurchase up to $30 million of its common stock
  • Abercrombie & Fitch (ANF) announced that its Board of Directors authorized the company to repurchase up to 7.6 million shares of its common stock, including 2.6 million shares of planned stock repurchases that remain under a prior authorization
  • Synopsys (SNPS) announced that its Board of Directors authorized the company to repurchase up to $500 million of its common stock

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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