Stocks closed mixed on Wednesday, with the Fed minutes providing a spark at 2pm to pull the S&P out of the red. Asia markets closed mixed as well overnight while Europe stocks are in the red this morning. U.S. futures are pointing to a lower open, the Dollar, Yields, and Oil are in the red while Gold is higher.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/thursday-reads/
Stocks gapped lower at the open yesterday, and looked poised for another rough session, before finding a strong bid at 2pm to close slightly higher. Russia/Ukraine headlines are running rampant alternating between 'Invasion Imminent' and 'Troops are pulling back'. Almost like the trade war headlines from years past with China. Today we have some Fed speakers with Bullard on tap at 11am. Hopefully he will not put his foot in his mouth again and cause a 1% decline in stocks. I continue to be very selective adding positions and will likely do so until the market finds some footing above the moving day averages or we break the $425 support on the SPY:
SSYS was able to hold its gains from the previous session rally to close right near $28. Would like to see some premiums come into the calls so I can look to take some of my March strikes off... earnings next week:
Was eyeing OPRX and KRNT for cals yesterday as well. OPRX fell at the open and took right to the end of the day to close flat:
KRNT gapped higher yesterday but gave back all its into the close. Still eyeing some calls here as well for the move over $150:
TRIP reported another disappointing Q after the close yesterday. One of these days the company will find a way to monetize their '#1 in the travel space' traffic... mind-boggling to me. Not sure if I will try and play a bounce. Have to think the market will start pricing in a rebound at some point, with the new leadership, and head into the $30s:
POOL reported a monster beat and raise this morning. A great story that saw its business benefit from Covid and continues to reap the rewards, as recurring revenue will be their bread and butter for growth. It is gapping a bit in the pre-market. May look to nibble some lotto calls for a move to $490+:
On a side note, after may years of waiting, I will be starting the 2k Challenge in March. Likely mid-March, market conditions permitting...
The 2k Challenge is where I take $2k and work to multiply it a few time(and more). A link to one of the times I did it with some info: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=72313134
I have had many requests lately so figured I would finally carve out some time to start it. I am still working on the details so stay tuned for those interested. You can send an email to firstname.lastname@example.org if you have any specific questions. Thanks!
Here are the analyst changes of note for today:
|SolarEdge price target raised to $303 from $293 at Credit Suisse|
|Credit Suisse analyst Maheep Mandloi raised the firm's price target on SolarEdge to $303 from $293 $303 due to higher commercial shipments, partially offset by weaker gross margin % near-term, while keeping a Neutral rating on the shares. SolarEdge beat Q4 and Q1 revenue expectations due to strong demand, as residential and commercial MW backlog is already at 60%/143% of 2021 sales, the analyst notes|
|Cytokinetics price target lowered to $53 from $57 at Cantor Fitzgerald|
|Cantor Fitzgerald analyst Charles Duncan lowered the firm's price target on Cytokinetics to $53 from $57 and keeps an Overweight rating on the shares. Duncan believes the positive results from the Phase 3 GALACTIC-HF study should be sufficient FDA approval, but still sees negative readthrough of METEORIC-HF, as the inability to demonstrate clinical value for exercise capacity leaves a potential competitive advantage unsatisfied, the analyst tells investors in a research note|
|Restaurant Brands price target lowered to $72 from $75 at Deutsche Bank|
|Deutsche Bank analyst Brian Mullan lowered the firm's price target on Restaurant Brands to $72 from $75 and keeps a Buy rating on the shares post the Q4 results|
|Wingstop price target lowered to $168 from $172 at Deutsche Bank|
|Deutsche Bank analyst Brian Mullan lowered the firm's price target on Wingstop to $168 from $172 and keeps a Hold rating on the shares post the Q4 results|
|Boston Beer price target lowered to $442 from $524 at Deutsche Bank|
|Deutsche Bank analyst Steve Powers lowered the firm's price target on Boston Beer to $442 from $524 and keeps a Hold rating on the shares. The analyst expects the shares may come under some pressure post the Q4 results due to operational headwinds, supply chain constraints and aggressive wholesaler/retailer inventory reductions for Truly|
|Shopify price target lowered to $900 from $1,400 at Deutsche Bank|
|Deutsche Bank analyst Bhavin Shah lowered the firm's price target on Shopify to $900 from $1,400 and keeps a Hold rating on the shares. The company's Q4 results were ahead of consensus expectations, but they were likely a touch light of investor expectations, Shah tells investors in a research note. Further, they raise potential concerns around the sustainability of hyper-growth and the level of investment required to execute against the longer-term opportunity, contends the analyst|
|Roblox price target lowered to $83 from $136 at Needham|
|Needham analyst Bernie McTernan lowered the firm's price target on Roblox to $83 from $136 after its Q4 earnings miss but keeps a Buy rating on the shares. The analyst is cutting his expected FY22 bookings growth rate to 7% from 25% based on the lower than expected January bookings and commentary on difficult COVID comps, but also does not believe that the company's long-term monetization opportunity thesis is "broken". McTernan adds that over time, he still expects Roblox to grow engagement and increasingly monetize the engagement on its platform|
|Trupanion price target lowered to $140 from $150 at Canaccord|
|Canaccord analyst Maria Ripps lowered the firm's price target on Trupanion to $140 from $150 and keeps a Buy rating on the shares. The analyst said they reported mixed Q4 results, as subscription enrolled pet growth came in slightly below expectations due to Omicron headwinds and temporarily reduced conversion rates. She noted total revenue and profitability came in slightly ahead of consensus thanks to ongoing strength within the Other Business segment|
And here is what I am watching today: RDFN, POOL, TRIP, OPRX, MDGL, KRNT, SSTK, CVGW, APPS, ROKU, DKNG, CMG, DRV, SRS, FAZ, LABD, and SKF.
Let's have a great day!