Forex News 24

Forex News 24


Cintas Earnings: CTAS Stock Surges as Profit Gains Nearly 20% Cintas Earnings: CTAS Stock Surges as Profit Gains Nearly 20%

Posted: 16 Jul 2019 02:24 PM PDT

Hits: 2


Cintas (NASDAQ:CTAS) unveiled its latest quarterly figures late on Tuesday, amassing a profit that surpassed the same metric year-over-year, while revenue surged more than 7%, lifting CTAS stock.

Cintas Earnings

Source: Shutterstock

The Cincinnati, Ohio-based business announced fourth-quarter earnings of $226.6 million, or $2.06 per share. This marked a 19.7% gain when compared to its profit of $189.3 million, or $1.68 per share year-over-year.

Cintas added that its net profit from continuing operations, when adjusted for non-recurring items, tallied up to $2.07 per share, nearly 17% higher than the earnings from the year-ago period. This was higher than the growth that Wall Street predicted.

Revenue impressed as well, increasing 7.4% to $1.79 billion during the three months that made up the period, topping analysts' prediction. This metric was backed by strong sales in numerous business segments, including its Uniform Rental and Facility Services segment, which was an organic sales growth of 6.8%.

Plus, the company's First Aid and Safety Services increased 10.7% year-over-year. "For the ninth consecutive year, our organic revenue growth was in the mid- to high- single digits and EPS grew double digits when adjusted for one-time and special items," per CEO Scott Farmer.

"Additionally, our strong cash flow and balance sheet enabled us to deploy cash to increase shareholder value." Cintas' management calls for 2020 sales in the range of $7.24 billion to $7.31 billion.

CTAS stock surged 6.3% after hours today.

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BAC, PNC and NFLX Up to Bat in Earnings Season

Posted: 16 Jul 2019 02:22 PM PDT

Hits: 2


S&P 500 Outlook:

S&P 500 Outlook: BAC, PNC and NFLX Up to Bat in Earnings Season

The S&P 500 closed Tuesday trading -0.38% lower after mixed earnings from the big banks and healthcare giant Johnson & Johnson (JNJ). Impressive retail sales also clouded the Index's outlook as the odds of future rate cuts was called into question – although pricing reveals the market remains nearly certain July's meeting will be joined by a 25-basis point reduction to the Federal Funds rate. As Wednesday trading approaches, equity traders will shift their focus to Bank of America (BAC), PNC Financial Services (PNC) and Netflix (NFLX).

S&P 500 Earnings to Watch

Bank of America (BAC)

Scheduled to report before the open, Bank of America shares trade around $29 ahead of their quarterly results and rest narrowly above a nearby Fibonacci level at $28.85. Options-derived implied volatility suggests BAC shares could trade as high as $29.98 or as low as $28.31 following the report. Within the implied price range exists ascending support from December – which enjoys proximity to the 200-day moving average. If Bank of America is to follow their industry peers that have already reported this week, investors may expect subdued trading revenue due to poor market conditions.

Bank of America (BAC) Price Chart: Daily Time Frame (April 2018 – July 2019) (Chart 1)

S&P 500 Outlook: BAC, PNC and NFLX Up to Bat in Earnings Season

PNC Financial Services (PNC)

To that end, PNC may find itself in a similar situation. Trading profits have been deteriorating across the industry and concerns have arisen regarding a lower Federal Funds rate weighing on margins. Perhaps due to their relative size, PNC shares are expected to be more volatile than Bank of America – albeit slightly. The elevated volatility has expanded the earnings implied price range to include two Fib levels and an ascending trendline. Recent price action suggests each of the levels carry technical influence which could see PNC shares trade between $136 and $142.50 despite the larger implied range.

PNC Financial Services (PNC) Price Chart: Daily Time Frame (January – July) (Chart 2)

S&P 500 Outlook: BAC, PNC and NFLX Up to Bat in Earnings Season

Netflix (NFLX)

As the first FAANG member and leading tech company to report, Netflix's earnings will be widely watched as an early indicator of tech sentiment in earnings season. Given its industry and price to earnings multiple, implied volatility is expectedly higher than the financials.

Earnings season has arrived! Check out our Third Quarter Equity Forecast to read about the outlook for the S&P 500 as the season unfolds.

With an earnings-implied volatility of 8.43%, the resultant price range could see NFLX trade anywhere from $335 to $398 – an area that encompasses multiple technical levels. To the topside, resistance looks to reside at $382 and $385 which have effectively capped the share price in the year-to-date. A bullish break above these levels could open the door for a continuation higher.

Netflix (NFLX) Price Chart: Daily Time Frame (January – July) (Chart 3)

S&P 500 Outlook: BAC, PNC and NFLX Up to Bat in Earnings Season

On the other hand, support is apparent near the $360, $350 and $338 levels. Each possesses varying degrees of influence, but the nearer forms of support could be quickly dispatched of given the risk and volatility that accompanies an earnings event. That said, the more robust technical support could be critical given the fundamental headwinds offered by the flurry of new entrants to the streaming space. Follow @PeterHanksFXon Twitter for updates and analysis on key themes during earnings season.

–Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Dow Jones, Nasdaq 100, S&P 500, DAX 30 Fundamental Forecast

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2019-07-16 21:05:00

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King of My Heart | Taylor Swift reputation Stadium Tour | Netflix

Posted: 16 Jul 2019 02:18 PM PDT

Hits: 9




Watch the full performance only on Netflix.

Watch Taylor Swift reputation Stadium Tour on Netflix: https://www.netflix.com/in/title/81026251

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About Netflix:
Netflix is the world’s leading internet entertainment service with 130 million memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.

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King of My Heart | Taylor Swift reputation Stadium Tour | Netflix
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Lesson 01 | Trade with the Trend | Free Forex Trading Lessons

Posted: 16 Jul 2019 02:15 PM PDT

Hits: 5




www.pipware.com “The Trend is Your Friend” … heard it all before? Make sure you understand what a trend is.

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Nasdaq Today: Roku’s New Highs; Beyond Meat’s Partnership

Posted: 16 Jul 2019 02:03 PM PDT

Hits: 4


The PowerShares QQQ ETF (NASDAQ:QQQ) came within a dime, but couldn't grind out new highs on Tuesday as we saw a decline in the Nasdaq today. However, that didn't stop everything from rallying, as Roku (NASDAQ:ROKU) stock burst as much as 8%, hitting new all-time highs in the process.

Source: Shutterstock

The stock clocked in over $113 at one point and it wouldn't be surprising to see the stock continue higher into earnings. After two huge post-earnings rallies, the stock is clearly on investors' radar. The stock was a clear leader on Tuesday and investors will look to see if they can keep squeezing shares higher amid this breakout.

Not everyone was so lucky, though. Micron (NASDAQ:MU) continues to meet sellers, as it ran right into resistance. Shares fell about 3% on Tuesday, while Western Digital (NASDAQ:WDC) also dove on the day, down roughly 6%.

Bitcoin had a rough day too, plunging more than 11% to $9,600 at the time of this writing.

Some New Partnerships

Blue Apron (NYSE:APRN) stock surge more than 60% at one point on Tuesday. The move came on news that it will partner with Beyond Meat (NASDAQ:BYND). The two are starting out with a pair of burger offerings and will look to add other options moving forward. Both should be available by Aug. 26. APRN has had a horrendous journey thus far as a public company and has already resorted to a 1-for-15 reverse stock split. But the partnership could be a win-win for both companies, and at least for one day, has given APRN stock a much-needed shot in the arm.

While we await the likely IPO of DoorDash this year, it was announced that McDonald's (NYSE:MCD) will partner with the delivery company. The plan is to start with 200 locations in Houston later this month. If successful, it will roll out nationwide.

DoorDash reportedly has contract drivers within driving distance of 80% of U.S. households, prompting MCD to add it to Uber (NYSE:UBER) Eats and choose it over GrubHub (NYSE:GRUB) and Waitr (NASDAQ:WTRH). WTRH hit a new 52-week low in the session, by the way.

It has been a busy month for Big Blue. International Business Machines (NYSE:IBM) will report earnings on Wednesday, and just recently closed on its acquisition of Red Hat. That's not all though. The tech giant reached a multi-year alliance with AT&T (NYSE:T), to "support each other in networking and the cloud." Part of that support will come from IBM's recently acquired Red Hat.

Splits and Analyst Takes

Alibaba (NYSE:BABA) announced plans for an 8-to-1 stock split earlier this year, pending shareholder approval. Well, the company received the green light and BABA stock will split sometime before July 15th, 2020.

There weren't too many big analyst actions to take note of, but Slack (NYSE:WORK) did receive some initiations. Morgan Stanley analysts slapped an equal-weight rating on Slack, while Goldman Sachs went with a neutral rating an $34 price target, implying about 2% downside.


Click to Enlarge
Don't fret though, bulls. William Blair analysts initiated WORK at an outperform rating, while Canaccord Genuity analysts started it at a buying rating with a $40 price target. Barclays and Keybanc also gave an overweight rating, using price targets of $45 and $44, respectively.

 

Heard on the Nasdaq Today

Like IBM, Netflix (NASDAQ:NFLX) will also report earnings on Wednesday. However, after tying HBO — now an AT&T property — in Emmy nominations last year, HBO topped NFLX this year 137 to 117. Obviously, Game of Thrones helped tip the scales, pulling in 32 nominations on its own.

Netflix may face a dilemma losing its top two shows in 2020, Friends and The Office, as well as other top content later on. It's no wonder CEO Reed Hastings has been spending so much on content over the last few years.

Tech companies testifying on Capitol Hill seems to be about one of the most pointless events. It's clear Congress can't keep up with technology and they can't keep up with these companies. Nothing ever seems to come of it — other than headlines.

On Tuesday, Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) were there, with hearings scheduled for tomorrow as well. It could be an important development though, as the government looks to build an antitrust case against several of these companies. Notice who's not there though? Microsoft (NASDAQ:MSFT).

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long ROKU, AAPL, AMZN and GOOGL.

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Another Top 10 Taylor Swift Songs

Posted: 16 Jul 2019 01:56 PM PDT

Hits: 9




Another Top 10 Taylor Swift Songs // Subscribe: http://www.youtube.com/c/MsMojo?sub_confirmation=1

We're back with another Top 10 Taylor Swift songs list! In this countdown, we take a look at some of her best songs like All Too Well, Fifteen, Bad Blood, New Romantics, White Horse, Ours and Dear John. Missed our original list? Check it out here: https://www.youtube.com/watch?v=GOhDADUsFtA

MsMojo’s Social Media:
Facebook►►http://www.Facebook.com/MsWatchMojo
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WatchMojo is a leading producer of reference online video content of Top 10 Lists, Origins, Biographies, Commentary and more on Pop Culture, Celebrity, Movies, Music, TV, Film, Video Games, Politics, News, Comics, Superheroes. Your trusted authority on ranking Pop Culture.

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Nasdaq Today: Roku’s New Highs; Beyond Meat’s Partnership

Posted: 16 Jul 2019 01:47 PM PDT

Hits: 7


The PowerShares QQQ ETF (NASDAQ:QQQ) came within a dime, but couldn't grind out new highs on Tuesday as we saw a decline in the Nasdaq today. However, that didn't stop everything from rallying, as Roku (NASDAQ:ROKU) stock burst as much as 8%, hitting new all-time highs in the process.

Source: Shutterstock

The stock clocked in over $113 at one point and it wouldn't be surprising to see the stock continue higher into earnings. After two huge post-earnings rallies, the stock is clearly on investors' radar. The stock was a clear leader on Tuesday and investors will look to see if they can keep squeezing shares higher amid this breakout.

Not everyone was so lucky, though. Micron (NASDAQ:MU) continues to meet sellers, as it ran right into resistance. Shares fell about 3% on Tuesday, while Western Digital (NASDAQ:WDC) also dove on the day, down roughly 6%.

Bitcoin had a rough day too, plunging more than 11% to $9,600 at the time of this writing.

Some New Partnerships

Blue Apron (NYSE:APRN) stock surge more than 60% at one point on Tuesday. The move came on news that it will partner with Beyond Meat (NASDAQ:BYND). The two are starting out with a pair of burger offerings and will look to add other options moving forward. Both should be available by Aug. 26. APRN has had a horrendous journey thus far as a public company and has already resorted to a 1-for-15 reverse stock split. But the partnership could be a win-win for both companies, and at least for one day, has given APRN stock a much-needed shot in the arm.

While we await the likely IPO of DoorDash this year, it was announced that McDonald's (NYSE:MCD) will partner with the delivery company. The plan is to start with 200 locations in Houston later this month. If successful, it will roll out nationwide.

DoorDash reportedly has contract drivers within driving distance of 80% of U.S. households, prompting MCD to add it to Uber (NYSE:UBER) Eats and choose it over GrubHub (NYSE:GRUB) and Waitr (NASDAQ:WTRH). WTRH hit a new 52-week low in the session, by the way.

It has been a busy month for Big Blue. International Business Machines (NYSE:IBM) will report earnings on Wednesday, and just recently closed on its acquisition of Red Hat. That's not all though. The tech giant reached a multi-year alliance with AT&T (NYSE:T), to "support each other in networking and the cloud." Part of that support will come from IBM's recently acquired Red Hat.

Splits and Analyst Takes

Alibaba (NYSE:BABA) announced plans for an 8-to-1 stock split earlier this year, pending shareholder approval. Well, the company received the green light and BABA stock will split sometime before July 15th, 2020.

There weren't too many big analyst actions to take note of, but Slack (NYSE:WORK) did receive some initiations. Morgan Stanley analysts slapped an equal-weight rating on Slack, while Goldman Sachs went with a neutral rating an $34 price target, implying about 2% downside.


Click to Enlarge
Don't fret though, bulls. William Blair analysts initiated WORK at an outperform rating, while Canaccord Genuity analysts started it at a buying rating with a $40 price target. Barclays and Keybanc also gave an overweight rating, using price targets of $45 and $44, respectively.

 

Heard on the Nasdaq Today

Like IBM, Netflix (NASDAQ:NFLX) will also report earnings on Wednesday. However, after tying HBO — now an AT&T property — in Emmy nominations last year, HBO topped NFLX this year 137 to 117. Obviously, Game of Thrones helped tip the scales, pulling in 32 nominations on its own.

Netflix may face a dilemma losing its top two shows in 2020, Friends and The Office, as well as other top content later on. It's no wonder CEO Reed Hastings has been spending so much on content over the last few years.

Tech companies testifying on Capitol Hill seems to be about one of the most pointless events. It's clear Congress can't keep up with technology and they can't keep up with these companies. Nothing ever seems to come of it — other than headlines.

On Tuesday, Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) were there, with hearings scheduled for tomorrow as well. It could be an important development though, as the government looks to build an antitrust case against several of these companies. Notice who's not there though? Microsoft (NASDAQ:MSFT).

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long ROKU, AAPL, AMZN and GOOGL.





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Forex Trading: How much can you earn from Forex trading?

Posted: 16 Jul 2019 01:45 PM PDT

Hits: 7




Now, I'm sure you want to know how much money you can make from Forex trading, right?

You've heard stuff like…

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Visa Stock Is a Winner, But Beware Valuation Risks

Posted: 16 Jul 2019 01:41 PM PDT

Hits: 7


Shares of global payments giant Visa (NYSE:V) have been on fire in 2019, rising 35% through the first six months of 2019 to fresh all-time highs. The catalyst? Broadly favorable macroeconomic and market conditions, which have simultaneously supported continued healthy consumer spending trends and a richer valuation for Visa.

Visa Stock Is a Winner, But Beware Valuation Risks

Source: Shutterstock

In the long run, Visa stock is a winner. The global payments world continues to pivot away from cash payments to card payments. This trend will persist for the foreseeable future. In developed economies, cash usage is still relatively high, giving ample room for further card payment volume growth. Meanwhile, in developing economies, the rapid urbanization and expansion of consumer middle classes will support bigger card payment volume growth.

Visa is the biggest card payment player in the world. Given the card payments space continues to grow at a healthy pace over the next several years, so will Visa's revenues, profits, and Visa stock.

But, that does not mean Visa stock is the best buy here and now.

Visa stock has come a long way, very fast in 2019, and the present valuation on the stock looks slightly overextended. To be sure, low interest rates today support this slightly extended valuation. But, if and when rates do creep higher, that will pressure Visa's valuation.

The investment implication? While Visa stock is a long-term winner, this victory is not worthy of paying $180 per share of V stock. Investors should rather wait for this red-hot winner to cool off, and consider buying the stock on the next dip.

Visa Stock Is a Long-Term Winner

Zooming out, the big picture trends supporting Visa stock are exceptionally favorable, and possess a high degree of visibility. This combination of high visibility and big growth ultimately pave a very tangible pathway for Visa stock to climb higher in the long run.

Globally, consumers are pivoting away from cash transactions to non-cash transactions, because non-cash transactions are more convenient and more levered to digital shopping. Global non-cash transaction volume has risen at a steady 10%-plus clip over the past several years.

This trend will persist. Cash usage is still relatively high in developed economies, despite the fact that cash is a less convenient and relevant payment method than card. Card penetration rates in developing economies are still low, and will continue to rise at a rapid pace as those developing economies urbanize and digitize. That's why global non-cash payments volume is expected to grow at a steady 10%-plus pace for the next several years, while emerging market non-cash payments volume is expected to grow at a 20%-plus pace.

Visa is at the heart of this gloval global cards payment pivot. Excluding China, Visa controls 50% of the global card payments market. The company has consistently rattled off high single digit or better volume, transaction, and revenue growth over the past several quarters. As the global card payments market continues to expand, Visa's volume, transaction and revenue growth rates will continue to run, at least, at a high single digit. At the same time, margins will gradually expand with scale, and profit growth will be robust.

By that time, Visa projects big profit growth. That growth will ultimately drive Visa stock higher in a multi-year window.

The Valuation Today Is Rich

Although Visa stock is a long-term winner, the price tag on Visa stock today seems a bit rich, and may not produce the best multi-year returns.

Visa reasonably projects as a high single digit revenue grower over the next several years. Margins also reasonably project to keep marching higher at ~100 basis points or less per year. Including buybacks, Visa's EPS growth should run around 10%-15% over the next several years. At that growth rate, Visa's EPS will settle around $11 by 2025. Based on a historically average 25 forward multiple and 10% discount rate, that equates to a fundamentally supported 2019 price target for Visa stock of roughly $170.

Thus, at $180 mid-way through 2019, Visa stock seems slightly overvalued.

To be sure, this slight overvaluation is supported by a low interest rate environment. As long as rates remain low, this slight overvaluation in Visa stock will hang around. But, if rates creep higher, that will pressure Visa's valuation, and ultimately drag on V­isa stock.

Bottom Line on V Stock

Overall, Visa stock is a winner. But, in the near term, low rates seem to have inflated the valuation on Visa stock to artificially high levels. It is a "tread with caution" situation. I would not be a buyer until the presently stretched valuation comes down to more reasonable levels.

As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. 

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Who needs a hat when you could wear a sweet visor?

Posted: 16 Jul 2019 01:28 PM PDT

Hits: 7


Who needs a hat when you could wear a sweet visor?



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