Novosti i prognoe: tržište kapitala od 04-05-2020

U.S. stock-index futures fell on Monday as deteriorating U.S.-China relations overshadowed the reopening of the U.S. economy.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

FXStreet reports that analysts at Rabobank believe that the price action in the S&P 500 Index implies that the corrective rebound witnessed since the end of March has run its course and the next leg lower could be in the making in the coming weeks.

“The corrective rally from the March 23 low run out of steam around the Fibonacci 61.8% retracement level at 2934.49. This is a critical pivot around which markets tend to swing and start moving in the opposite direction.  Another crucial element supporting this short-term technical scenario is that recent gains fit into the rising wedge, which is a bearish pattern.”

“Given that the second leg lower should at least match the length of the initial wave, the S&P 500 Index may fall below the March 23 low at 2191.86 in the near-term.”

“For short-sellers, it is an opportunity to establish positions in anticipation of a new leg down driven by another wave of negative news dominated by rising joblessness and bankruptcies.” 

Tyson Foods (TSN) reported Q2 FY 2020 earnings of $0.77 per share (versus $1.20 per share in Q2 FY 2019), missing analysts' consensus estimate of $1.12 per share.

The company's quarterly revenues amounted to $10.888 bln (+4.3% y/y), missing analysts' consensus estimate of $11.014 bln.

TSN fell to $57.50 (-4.18%) in pre-market trading.

FXStreet reports that economists at JP Morgan Asset Management remain intensely focused on what is happening with corporate profits, as over the long-run, earnings are the main driver of equity returns.

“Nearly half of S&P 500 companies have reported 1Q20 earnings, and our current estimate is for a -20% decline relative to a year prior.”

“At the end of the day, the stock market seems to be focused on three things: slower growth in the number of cases of COVID-19, the massive amount of fiscal and monetary stimulus that has been announced in recent weeks and the expectation of a v-shaped recovery in the economy and corporate profits. The first two drivers of the market rally are fact, but the third seems to be fiction.”

“While we anticipate a recovery into the end of 2020 and beginning of 2021, we do not think it will be as robust as consensus expects.”

May 4

Before the Open:

Tyson Foods (TSN). Consensus EPS $1.12, Consensus Revenues $11013.52 mln

After the Close:

American Intl (AIG). Consensus EPS $0.82, Consensus Revenues $11527.71 mln

May 5

Before the Open:

DuPont (DD). Consensus EPS $0.77, Consensus Revenues $5143.43 mln

Fiat Chrysler (FCAU). Consensus EPS $0.05, Consensus Revenues $21120.92 mln

After the Close:

Walt Disney (DIS). Consensus EPS $0.90, Consensus Revenues $17493.15 mln

May 6

Before the Open:

Barrick (GOLD). Consensus EPS $0.16, Consensus Revenues $2790.06 mln

General Motors (GM). Consensus EPS $0.44, Consensus Revenues $31368.38 mln

After the Close:

Lyft (LYFT). Consensus EPS -$0.57, Consensus Revenues $905.73 mln

PayPal (PYPL). Consensus EPS $0.75, Consensus Revenues $4719.31 mln

May 7

Before the Open:

Raytheon Technologies (RTX). Consensus EPS $1.05, Consensus Revenues $17030.91 mln

After the Close:

Baidu (BIDU). Consensus EPS RMB3.92, Consensus Revenues RMB21938.02 mln

Uber (UBER). Consensus EPS -$0.50, Consensus Revenues $3140.59 mln