In today’s briefing:
- EQD | SPX Index/NDX Index : Big Data Week Coming Up-We Look at What Is Priced In
- Failed Breakouts, Banks Crumbling — Get Defensive; Buy Ideas Within Consumer Staples
- Intuit Inc: The SeedFi Acquisition & Other Drivers
- Silvergate Capital Corp (SI US)
- Mettler-Toledo International Inc.: Initiation of Coverage – Business Strategy & Other Drivers
- Mettler-Toledo International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- The Cooper Companies Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Deere & Co: New Product Launches & Other Drivers
- The Cooper Companies Inc.: Initiation of Coverage – Business Strategy & Key Drivers
EQD | SPX Index/NDX Index : Big Data Week Coming Up-We Look at What Is Priced In
- Next week is the last big week of data releases for the year
- With CPI data and also a FED meeting there is lots of potential volatility to come
- We look at what is priced in to the derivatives market and suggest some trade ideas
Failed Breakouts, Banks Crumbling — Get Defensive; Buy Ideas Within Consumer Staples
- Charts have not changed much from the prior week, with there actually being some deterioration within banks (KRE, KBE).
- The $SPX has been unable to sustain a breakout above its 200-day MA/YTD downtrend, the $IWM remains below $190 resistance, and the DJIA could not sustain a breakout above 34,280
- As long as these indexes are below these levels, we continue to see this as a good time to shift to more defensive areas and/or take profits.
Intuit Inc: The SeedFi Acquisition & Other Drivers
- Intuit had a successful first quarter and managed to surpass Wall Street expectations in terms of revenues as well as earnings.
- TurboTax also had a strong finish with a number of improvements introduced and tested during the quarter.
- Intuit is also developing its own bill-pay feature for QuickBooks and intends to make it available in the future.
Silvergate Capital Corp (SI US)
- SI US declined 78.5% from its August 2022 high of 108.11 to its November 2022 low of 23.20.
- Our Trend Sustainability Score (TSS) methodology has triggered a TSS < 10, highlighting extreme short-term momentum failure.
- A new downtrend low, below 23.20, in the coming 1-2 days will likely fail quickly and deliver a 10% to 20% reversal in the coming 1-2 weeks.
Mettler-Toledo International Inc.: Initiation of Coverage – Business Strategy & Other Drivers
- This is our first report on Mettler-Toledo, one of the largest manufacturers and suppliers of precision instruments and services across the globe.
- The company delivered an outstanding result in the last quarter, with sales increasing by $985.8 million, a 10% local currency gain, surpassing Wall Street expectations.
- They recognize that the global supply chain continues to pose risks, but their ability to meet customer demands should remain a competitive advantage.
Mettler-Toledo International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Mettler-Toledo is one of the biggest players in the precision instruments and services domain across the world.
- The management recognizes that the global supply chain continues to pose risks, but their ability to meet customer demands should remain a competitive advantage.
- Mettler-Toledo should keep investing in brand-new products that will lay the groundwork for expansion in the future.
The Cooper Companies Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Cooper Companies Inc is one of the largest manufacturers of contact lenses across the globe.
- Daily silicones are still the primary factor in the contact lens industry’s growth.
- They also have the widest portfolio on the market with MyDay and clariti, which are available on various spheres, toric, and multifocal lenses.
Deere & Co: New Product Launches & Other Drivers
- Deere had a challenging start to the new fiscal as a result of a work stoppage at some of its biggest U.S. plants, but managed to resolve the situation with the help of a new contract.
- The company delivered another all-around beat and the performance across its segments was fueled by persistently high demand and increased production rates.
- Furthermore, they launched several large wheel loaders, including 744 P-tier, 824 P-tier, 844 P-tier, and brand-new 904 P-tier.
The Cooper Companies Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on Cooper Companies, one of the largest producers of contact lenses in the world.
- Daily silicones are still the primary factor in the contact lens industry’s growth.
- We initiate coverage on the stock of The Cooper Companies with a ‘Hold’ rating.
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