In today’s briefing:
- Technology Select Sector Index (XLK US): Reversing the Huge Flows from June
- Getting the Grid Connection Back
- Flex Ltd.: A Story Of Automotive Electrification and Content Expansion! – Major Drivers
- EQD | The S&P500 WEEKLY Smashed The Tails Barrier, Reversal Due Soon
- Drop in Gas Rigs Drives US Rig Count Downward
- Royal Caribbean Group: Expansion into New Markets and Destinations & Key Factors Driving Our ‘Buy’ Rating! – Financial Forecasts
- Quest Diagnostics: Will The Acquisition of Canadian Lab Provider LifeLabs Be A Game Changer? – Major Drivers
- The Printer is Coming
- Kellanova on Mars’ Radar: What Makes This Snack Leader a Prime Target?
- 3M Company: These Are The 3 Biggest Challenges In Its Path! – Major Drivers
![](http://www.smartkarma.com/assets/plugins/a3-lazy-load/assets/images/lazy_placeholder.gif)
Technology Select Sector Index (XLK US): Reversing the Huge Flows from June
- The Technology Select Sector SPDR (XLK US) ETF tracks the Technology Select Sector Index and has an AUM of over US$65bn.
- The recent drop in NVIDIA Corp (NVDA US) has taken its market cap and free float market cap lower than Microsoft Corp (MSFT US) and Apple (AAPL US).
- If that continues to be the case on 13 September, there will be huge outflows for NVIDIA (NVDA) and huge inflows for Apple (AAPL) at the close on 20 September.
Getting the Grid Connection Back
- China’s state grid is increasing spending by 13% this year, which could boost sentiment in the copper sector
- Chinese steel rebar standards are changing, leading to concerns about obsolete inventories and potential pressure on steel prices
- India’s rising demand for metals, particularly in steel production, could have a significant impact on the global market by 2030
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
Flex Ltd.: A Story Of Automotive Electrification and Content Expansion! – Major Drivers
- Flex Ltd. reported solid financial results, reflecting a combination of strategic positioning and operational resilience.
- The company delivered $6.3 billion in revenue for the quarter, slightly exceeding expectations, while achieving an adjusted operating margin of 4.8%.
- This translated into an adjusted earnings per share (EPS) of $0.51, which is a 9% increase year-over-year.
EQD | The S&P500 WEEKLY Smashed The Tails Barrier, Reversal Due Soon
- The S&P 500 INDEX is massively oversold WEEKLY (and DAILY).
- Our models indicate the index is trading in the “Tails” area of the LONG model, a reversal is probably imminent, but forecasts in this price area are less reliable.
- Accumulation can start from Monday’s low prices (around 5100), the reversal will probably come next week.
Drop in Gas Rigs Drives US Rig Count Downward
- The US oil and gas rig count declined by three to 586 for the week ending 02/Aug, following two consecutive weeks of increases.
- The US oil rig count held steady at 482, after rising by 5 last week. Gas rigs decreased by three to 98, marking a second consecutive weekly decline.
- In May, US crude oil production experienced its first monthly decline since January, while natural gas output dropped to its lowest level since February 2023.
Royal Caribbean Group: Expansion into New Markets and Destinations & Key Factors Driving Our ‘Buy’ Rating! – Financial Forecasts
- Royal Caribbean Group has reported a robust set of results for the second quarter of 2024, showcasing strong demand and positive momentum across its portfolio of offerings.
- The company’s success is evident in the achievement of its ‘Trifecta’ financial targets 18 months ahead of schedule.
- This three-year financial performance program aimed to deliver triple-digit adjusted EBITDA per APCD, double-digit adjusted earnings per share (EPS), and a return on invested capital in the teens, all of which have been met.
Quest Diagnostics: Will The Acquisition of Canadian Lab Provider LifeLabs Be A Game Changer? – Major Drivers
- Quest Diagnostics delivered a mixed yet overall positive performance in its recent financial results.
- The company reported a 2.5% increase in total revenues, with base business revenues growing by nearly 4%.
- This growth is attributed to the expansion of new physician and hospital customers and an improved test mix, with advanced diagnostics seeing greater adoption and healthcare utilization remaining strong.
The Printer is Coming
- Financial markets are a humbling mechanism.
- The past two weeks remind us just how difficult predicting the future can be.
- Since our market cycle indicator signalled a crypto slowdown on June 2nd, we have been risk-off.
Kellanova on Mars’ Radar: What Makes This Snack Leader a Prime Target?
- Kellanova, a renowned snack food manufacturer known for brands like Cheez-It and Pringles, has recently attracted the interest of Mars, the global confectionery giant behind M&M’s and Snickers.
- With a market value of approximately $27 billion, including debt, Kellanova is a significant player in the packaged food sector.
- Despite its robust market presence and diverse product portfolio, Kellanova’s shares have underperformed relative to peers, presenting a potential acquisition opportunity.
3M Company: These Are The 3 Biggest Challenges In Its Path! – Major Drivers
- In the second quarter of 2024, 3M Company reported a robust financial performance, characterized by a 40% increase in non-GAAP earnings per share to $1.93 and modest organic revenue growth of 1%.
- The adjusted free cash flow for the period was $1.2 billion, showcasing a conversion rate of 109%.
- These results reflect the company’s ongoing efforts to navigate significant structural changes and market challenges, leveraging operational efficiencies, and recent strategic adjustments, including the spin-off of its Health Care business and the organizational shift to a global business unit structure.