The Moskowitz Report (TRVG, CAB, SRPT, DDS, MPC, C, AAPL, SKYW, INCY, WMT, OAS, BAC, TSLA, JBLU, REGN, JWN, APC, JPM, NVDA, RH, SHLD, PSX, BA, DAL, ISRG, GPS, BP, EXPE, AMGN, LB, COP, GS, UAL, CLVS) - Stock Market Commentary for Thursday, September 07, 2017
Well, today’s market was higher from the start with some solid gains pretty much across the board, although there were a couple of sectors that went the other way. Notable on the downside was anything that had to do with vacation and travel to the southeast. The travel booking companies got hurt with TRVG -2.44 (16%) after opening $10.99 but closing near the high. TRVG has been cut in half since July 27th. Also on the list was EXPE -3.22 after being -6, and PCLN -.44 was -36 preopen. Airlines were lower based on closure of airports and cancelled flights, however they closed at or near their highs of the day, and SKYW was +1 after being -2.50, DAL +1.55 after being -2, JBLU -.32, and UAL -.77 after -4. This recovery left many scratching their heads since the storm is being portrayed as the “biggest in recorded history.”
After the close we had earnings from CAB with a beat +7.50, RH beat and is +19 or just under 40% with the fact that there is a giant short position to support the move. This morning we had NWL -3 on news that their source of “resins” used in production in short supply due to the storm.
Bio Pharma was mostly higher with premarket news that SRPT +5.65 (14%) had a positive trial result and the rest were BIIB +1.53, AMGN +.75, REGN +5.86, ALXN +.40, VRTX -1.99, ISRG +.93, ICPT -.71, INCY +.52, CLVS-1.61 and IBB +1.06.
Also putting in a great day for us (we own the XRT 9/39.50 calls) Retail was higher with M +1.16 (5%), JWN +.52, KSS +1.98 (4.8%), DDS +1.51, SHLD +.19, JCP +.23 (6%), WMT +.28, GPS +1.79 (7.45%), ANF +.48, LB +.72 and the XRT +.52.
The oil market continued to post gains with the commodity keeping a somewhat narrow range but finishing higher by $ .50. The stocks were higher with CVX+2.33, APC +.03, COP +.67, BP +.35, PSX +.12, MPC +.58, MRO +.46 (4%), RIG-.01, OAS +.21, OXY +.90, XOM +1.60 and XLE +1.04.
Financials were only slightly higher with GS +.92, JPM +.44, BAC +.06, C+.14 and XLF +.06. Last but not least the big names were mixed with GOOGL +.54, AMZN +1.98, FB +.63, AAPL -.58, NFLX +4.44, TSLA -4.93, NVDA -.45, BA -2.64 and IBM +.71.
Tomorrow is another day...CAM
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