The following are the pivot points for the SPDR S&P 500 ETF Trust (SPY). Pivot High: $299.28, Pivot Low: $297.05. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
Apple announcements ‘positive boost’ to Services offerings, says Citi
Citi analyst Jim Suva believes Apple’s announcements yesterday will be viewed as a positive boost to the company’s Services offerings. Arcade and Apple TV+ are available for $4.99 per month for a family subscription, which is a “positive surprise,” says Suva, as he was expecting these services to be available at higher price points. The analyst keeps a Buy rating on Apple with a $250 price target.
Yeti attractive eat current level, bullish thesis remains intact says Baird
Analyst Peter Benedict met with Yeti management and came away confident his bullish thesis remains intact. The analyst believes the lingering tariff concerns are overblown and he believes the stock’s current price represents an attractive entry point. Benedict reiterated his Outperform rating and $38 price target on Yeti shares.
FTC probing Amazon over marketplace – Bloomberg Sep. 11, 2019 8:06 AM ET
FTC investigators have started interviewing small businesses that sell on Amazon’s (NASDAQ:AMZN) e-commerce platform, according to Bloomberg sources. The team includes several attorneys and at least one economist. Questions have included how much revenue the small businesses receive from Amazon sales versus other e-commerce platforms, suggesting investigators are skeptical that viable AMZN alternatives exist.
Boeing reports YTD deliveries down 43%, falling farther behind Airbus
Boeing (BA +2.1%) reports it delivered 18 jetliners in August, leaving the company on track for its lowest annual total in eight years. Boeing says it delivered 276 planes through August compared with 481 in the first eight months in 2018, trailing analyst forecasts for ~500 deliveries during the period in 2019. The company has not delivered any 737 MAX aircraft since the plane was grounded worldwide in March after two fatal crashes. Boeing secured nine orders last month, including two 737 business jets. Rival Airbus (OTCPK:EADSY -3.8%) reported shipment of 42 planes in August, taking its YTD total to 500.
RH reports Q2 adjusted EPS $3.20, consensus $2.70
Reports Q2 revenue $706.5M, consensus $697.77M.RH raises FY19 adj. EPS view to $10.53-$10.76 from $9.08-$9.52. Raises FY19 revenue view to $2.68B-$2.694B from $2.658B-$2.674B, consensus $2.68B.
Oppenheimer to the sidelines on Costco Sep. 11, 2019 9:12 AM ET|About: Costco Wholesale Corporation (COST)|By: Clark Schultz, SA News Editor
Costco (NASDAQ:COST) is down in early trading after Oppenheimer lowers its rating to Perform from Outperform with upside potential seen as limited following the 45% YTD run. “As we look forward, we now see less upside for shares driven by the now even more premium valuation, potentially aggressive Street forecasts, and difficult compares especially in Q2,” warns analyst Rupesh Parikh. “We continue to remain quite upbeat on COST’s longer-term prospects and view the company as best positioned in the entire consumer staples/food retailing universe. From here, we are closely watching for any potential pullbacks, which happen from time to time. Although we now see less upside, we still see prospects for a $10–15 special dividend,” he adds. Oppenheimer sees FY20 EPS for Costco of $8.40 vs. $8.55 consensus and FY21 EPS of $8.95 vs. $9.21 consensus. “Our estimates do not incorporate the recent tariff headwinds, as we believe COST can largely manage through and uncertainty remains regarding the ultimate outcome,” updates the firm.