The Moskowitz Report (CVX, FB, ULTA, BAC, XOM, AAPL, FNSR, GOOGL, JPM, ZUMZ, TSLA, APC, AMZN, BA, IBM, GS, NFLX, IBM) - Stock Market Commentary For Friday, March 10, 2017
Sometimes even a top and bottom beat doesn’t do it, and after the close ULTA did exactly that, and immediately traded from $274 to 259 -14. Guidance was a shade light, but this is not a new company and you’d think 15% gains would satisfy nearly everyone. Finisar (FNSR) was so lucky with the numbers and traded from 35 to 27.50 before leveling off around 29 off over 20%. ZUMZ also missed and is off almost 20%. As I have stated many times, beating lowered expectations or outright misses are not tolerated by this market.
Most of the indexes were higher with the standout s the Transports and the Russell. The big names mixed again with GOOGL +4.56, AAPL -.15, AMZN +3.49, TSLA -1.57, BA -1.39, IBM -2.00, NFLX + .39, FB +.58, while the financials were higher with GS +.34, JPM +.58 and BAC +.23.
The oil was the worst influence on the day first breaking $50 and then $49. The 2 day decline of over 7% caused breaks across the board with some small bounces in APC + .54, CVX +.55, and XOM +.72.
Last but not least, the continuing selloff in the bonds is causing declines across the metals complex. While the gold has not broken 1200 yet, if the employment numbers look anything like yesterday’s ADP gain of 298,000 it certainly will.
Tomorrow is another day...CAM
Contact Information or to Subscribe to The Moskowitz Report:
Cell: (617) 827-1296