Markets closed mixed on Thursday, with the S&P closing slightly lower while the Nasdaq squeezed out a gain. Asia markets closed lower overnight while Europe stocks are mixed this morning. U.S. futures are pointing to a lower open, the Dollar, Yields, and Oil are up while Gold is down.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-152/
Markets tried to muster another rally yesterday, with the SPY coming up to test $410 before finding pressure. This morning futures are selling off after a better than expected November jobs report... good news is still bad news for now. Would like to see the SPY at least hold that 200dma at 401.81 today. If not, maybe some pressure into next week:
U rallied again on Thursday and I was able to take some more of my calls off for nearly 400%. The stock is gapping lower this morning. May look to lock the rest of my calls in at the open and revisit:
PTON rallied almost 4% yesterday and I was able to close some of my calls out for nearly 100% to cover costs. If it can break that $12 handle, think $13+ comes quick:
RARE closed up over 4% yesterday and at multi-week highs. Only a matter of time before this is $40+:
I added some risky ULTA calls into earnings. The company reported a great Q with a strong beat and raise. The stock is up in the pre-market but not enough for my calls. Think it will trade north of $500 so may look to add some other strikes at the open:
Still eyeing NFLX and SAM for the golden-cross breakouts.
Here are the analyst changes of note for today:
Visa price target raised to $250 from $225 at Wells Fargo
|Wells Fargo analyst Donald Fandetti raised the firm's price target on Visa to $250 from $225 and keeps an Overweight rating on the shares. Following meetings with head of IR Jennifer Como at the Wells TMT Summit, Fandetti continues to believe Visa is becoming even more entrenched in the global money movement ecosystem with their new products, making it even more difficult to disintermediate them in any meaningful way, the analyst tells investors in a research note. The analyst thinks Visa can still deliver 20% EPS growth for the foreseeable future|
|Ulta Beauty price target raised to $545 from $490 at DA Davidson|
|DA Davidson analyst Michael Baker raised the firm's price target on Ulta Beauty to $545 from $490 and keeps a Buy rating on the shares. Big box retailers have done better than expected during the Q3 earnings season and Ulta may have topped them all with a sizable outperformance on sales, margins and EPS, as well as an increase to guidance that includes a holiday quarter outlook that is better than consensus and the previous outlook, the analyst tells investors in a research note. Baker adds that Ulta remains his top large cap idea due to its recession resistant product mix, lack of any inventory glut concerns, and best in class execution|
|Piper calls for 'more aggressive headcount reduction' at Coinbase|
|Despite an 18% workforce reduction in June, Coinbase's (COIN) headcount is still up 26% year-to-date thru Q3 and went down only 5% quarter-over-quarter, Piper Sandler analyst Richard Repetto tells investors in a research note. The analyst, who believes the company has a "very strong cash position and may even capitalize on the FTX bankruptcy upheaval over the long term," thinks a "more aggressive headcount reduction is a prudent step in managing expenses and sustaining shareholder value in a potential extended 'crypto winter' that could result." He points out that Coinbase had almost double Robinhood's (HOOD) headcount at the end of Q3. Repetto keeps an Overweight rating on Coinbase with a $100 price target|
|Dollar General price target lowered to $255 from $265 at BMO Capital|
|BMO Capital analyst Kelly Bania lowered the firm's price target on Dollar General to $255 from $265 and keeps a Market Perform rating on the shares. The analyst cites the company's "rare miss" in cutting her price target but also expects the factors weighing on performance in the second half of the year to be "transitory and recaptured next year". Bania maintains her view that Dollar General clearly continues to capture wallet share with the price-sensitive consumer, which should support continued traffic momentum|
And here is what I am watching today: PTON, ULTA, NFLX, SAM, ROKU, DKS, BURL U, SPOT, TWLO, WING, CMG, and DPZ.
Let's have a great day!