The Moskowitz Report (BAH, REGN, FB, RIG, JCP, ICPT, KBH, NVDA, APC, WMT, BAC, NKE, CELG, XLE, SFM, AAPL, HES, DDS, JPM, HOG, IBB, WFM, LEN, NFLX, OXY, KSS, BMRN, KR, TSLA, COP) - Stock Market Commentary for Friday, June 16, 2017
Todays’ market was lower overnight and carried right into this morning’s open. However, after making the lows by 10:30 we recovered almost all of the losses except in NASDAQ stocks. While the DJIA was down only .07%, and S&P 500 -.22%, the NASDAQ was down .50%. Market internals weren’t terrible but both had 9:5 negative volume and 2.5:1 down A/D.
Many of yesterday’s biotech winners gave some back with AVXS -3.66, CELG -.43, REGN -7.34, BMRN -1.45, ACAD -1.10, ICPT -3.64, and the IBB -2.99 or almost 1%.
They had plenty of company since KR reported a beat on top and bottom lines but gave very disappointing guidance and was -5.72 (19%) and it took WFM -2.39 and SFM -2.32.
Home builders suffered from economic numbers and although not dramatic they were down with one exception, BZH +.56 with LEN -.84, KBH -.28, HOV -.05 and TOL -.61.
The big names were mixed with GOOGL (with a downgrade) closed 959-7.94 after trading as low as 940, AMZN -13.13, AAPL -.85, FB -.40, NFLX + .05, NVDA +.43, TSLA -5.31, BA +2.76 and IBM +.41. Oils continued lower and took CVX -.27, XOM+.19, APC -1.17, OXY -.72, COP -.03, BP -.13 RIG -.13, HES -1.80 and XLE -.42.
Retail was mixed with M -.03, JWN -.32, KSS -.38, WMT -.99, DDS +.06, RL +.98,SHLD -.16, JCP -.08, and XRT -.51.
Financials were also soft with GS -3.28, JPM -.52, BAC -.21, and C -.52.
Also a drag on the DJIA was NKE -1.73 closing near the daily low. Acting a bit better was HOG +1.55 while BAH, who gave us Ed Snowden and a few other problems is being investigated by SEC on accounting issues and is trading $34.15 -5.98.
Tomorrow is another day...CAM
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