1. U.S. Stock Market:
“The Nasdaq crossed the 6,000 threshold for the first time on Tuesday, while the Dow registered triple-digit gains as strong earnings underscored the health of Corporate America. At 12:49 p.m. ET, the Dow Jones Industrial Average .DJI was up 235.96 points, or 1.14 percent, at 20,999.85, the S&P 500 .SPX was up 13.17 points, or 0.55 percent, at 2,387.32 and the Nasdaq Composite .IXIC was up 39.91 points, or 0.67 percent, at 6,023.73.”
“Wall Street traded higher on Tuesday on the back of positive earnings flow from Dow components while the Nasdaq broke the 6,000 psychological barrier at all-time highs. At 11:30AM ET (15:30GMT), the Dow Jones rose 231 points, or 1.11%, the S&P 500gained 13 points, or 0.55%, while the Nasdaq Composite traded up 36 points, or 0.61%.”
“U.S. stocks rallied Tuesday, with the Dow jumping by triple-digits in early trade and the Nasdaq hitting a milestone, as stock-market optimism accelerated on upbeat earnings and the possibility of tax reform. The Dow Jones Industrial Average DJIA, +1.08% rose 233 points, or 1.1%, to 20,995, outperforming other benchmarks after five of its components reported quarterly results, with four of them coming in ahead of forecasts. Meanwhile, the S&P 500 SPX, +0.55% was up 15 points, or 0.7%, to 2,389, with 10 of the main 11 sectors trading higher. Materials and financials were leading gains, up more than 1%. The index is less than 10 points below its record close. The Nasdaq Composite Index COMP, +0.63% rose 33 points, or 0.5%, to 6,022, trading in record territory, and surpassing a psychologically important milestone of 6,000.”
2. U.S. Bond Market:
“With government shutdown looking less likely now that President Trump has indicated he won’t insist that funding for a border wall with Mexico be included in a bill, markets continued early Tuesday to embrace risk. Stocks were rallying and bonds falling in early trading. The yield on the benchmark 10-year note was 2.31% at 9:20 a.m. ET, 3 basis points higher than Monday’s close. Stock futures indicated the Dow Jones Industrial Average would open 150 points higher.”
“The U.S. Treasuries suffered Tuesday as investors wait to watch the 5-year auction, scheduled to be held on April 26. Also, markets are keen to watch the country’s President Donald Trump’s tax plan, expected to be unveiled on April 26 for further direction in the debt market. The yield on the benchmark 10-year Treasury jumped nearly 3 basis points to 2.30 percent, the super-long 30-year bond yields also surged almost 3 basis points to 2.95 percent and the yield on short-term 2-year note traded over 2 basis points higher to 1.25 percent by 11:50GMT.”
3. FX Markets:
“The dollar strengthened against the yen on Tuesday, but extended its slide against a handful of European rivals, as investors awaited a “big announcement” about President Donald Trump’s plans for overhauling the U.S. tax code. In recent trade, one dollar USDJPY, +0.87% bought ¥110.50, its strongest level in three weeks. By comparison, it traded at ¥109.76 late Monday in New York. Meanwhile, the euro EURUSD, +0.2392% touched $1.0901, its strongest level in 5½ months. It traded at $1.0868 late Monday in New York. One pound GBPUSD, +0.2110% recently traded at $1.2823, compared with $1.2795 late Monday in New York.”
“The euro was holding below five-month highs against the dollar on Tuesday after a rally triggered by the first-round results of the French presidential election, while the yen weakened amid stronger risk appetite. EUR/USD was up 0.19% at 1.0887 by 08.02 ET, not far from Monday’s peak of 1.0918, the highest level since November 11 after centrist former economy minister Emmanuel Macron won the first round of French presidential elections. The dollar was at two-week highs against the traditional safe haven yen, with USD/JPY rising 0.69% to 110.53. Sterling was slightly higher against the dollar, with GBP/USD ticking up 0.2% to 1.2819.”
“Oil prices nudged higher on Tuesday, breaking a six-day streak of price falls, but doubts about OPEC’s ability to reduce global crude inventories capped gains. Brent crude <LCOc1> was up 8 cents at $51.68 a barrel by 1145 GMT, while U.S. crude futures <CLc1> were up 4 cents at $49.27 a barrel.”
“The LBMA gold price was set today at $1,270.50 from yesterday’s $1,271.80. The gold price in the euro was set at €1,167.95 after yesterday’s €1,171.84. Ahead of the opening of New York the gold price was trading at $1,268.10 and in the euro at €1,163.98. At the same time, the silver price was trading at $17.77. Silver closed at $17.92 yesterday after $17.96 at New York’s close Friday.”
5. Market Movers:
Netflix, Inc. (NASDAQ:NFLX) stock is up more than 6% Tuesday after a report from Variety that the company is licensing its original content to Chinese streaming service iQIYI, which is owned by internet giant Baidu (NASDAQ:BIDU). Netflix has been previously stymied in the Chinese market, as have many other non-Chinese companies, due to the country’s strict regulation of internet traffic, content, and foreign companies’ services.
What happened: Shares of private school system operator Nord Anglia Education Inc (NYSE:NORD) jumped as much as 18.5% higher in Tuesday’s morning session. So what: A consortium of private equity firms, led by the Canada Pension Plan Investment Board and Baring Private Equity Asia, is taking Nord Anglia private in a $4.3 billion all-cash deal. The buyout price represents an 18% premium over Nord Anglia’s share price as of Monday night, and a 33% increase over the stock’s three-month average pricing.
Tupperware Brands Corporation (NYSE:TUP) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.67-4.77 for the period, compared to the Thomson Reuters consensus estimate of $4.56. Tupperware Brands also updated its Q2 guidance to $1.17-1.22 EPS. Shares of Tupperware Brands Co. (NYSE:TUP) traded up 11.62% on Tuesday, hitting $73.32. 962,501 shares of the company were exchanged. The stock has a market capitalization of $3.71 billion, a PE ratio of 16.63 and a beta of 1.65. The firm’s 50-day moving average is $62.30 and its 200-day moving average is $59.20. Tupperware Brands Co. has a 52-week low of $50.42 and a 52-week high of $73.53.
Freeport-McMoRan Inc (NYSE:FCX) is currently trading with the volume of 32.91 Million. The Stock opened today’s session at $12.52 and currently the price is hovering at $12.95 by showing increase of 5.93 percent. Freeport-McMoRan Inc. has 1 year price target of $14.81. The stock gained a consensus recommendation of 2.56 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell. The company reported its last quarter on 12/31/2016.
Session activity on SUPERVALU Inc. (NYSE:SVU) shares bumps the stock on today’s most active list. After a recent spot-check, the stock has touched $4.10 which represents a change from the open of -0.24%. Company shares have been seen trading -28.57% off of the 52 week high and 28.12% away from the 52 week low. Narrowing in, the stock is at a distance of -2.38% from the 50 day high and 28.12% off of the 50 day low.
LSB Industries, Inc. (NYSE:LXU) posted its quarterly earnings data on Monday. The conglomerate reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.06. LSB Industries had a net margin of 24.50% and a return on equity of 3.20%. The business had revenue of $123.30 million for the quarter, compared to the consensus estimate of $122.24 million. During the same quarter last year, the business posted ($0.47) EPS. The business’s revenue for the quarter was down 25.5% on a year-over-year basis. LSB Industries (NYSE:LXU) opened at 7.35 on Tuesday. The company has a market cap of $208.78 million, a price-to-earnings ratio of 2.89 and a beta of 4.28.
Globalstar, Inc. (NYSEMKT:GSAT) — a fellow small wireless spectrum holder along with Straight Path Communications — is up 6.4% and hitting points last seen last June in the wake of the latter’s news that a large multinational telecom is topping AT&T’s buyout bid. That’s surely Verizon, though neither company is commenting. Straight Path has been gaining throughout the day, now up 15.3% and well over the bid price received (current quote $127.88 vs. new buyout bid for $104.64), in anticipation of an all-out bidding war for the company’s millimeter wave spectrum, which will give the winner an inside track to 5G development.
Wabash National Corporation (NYSE:WNC) have trended somewhat positive recently, according to Alpha One Sentiment. The research group, a division of Accern, ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Wabash National earned a news sentiment score of 0.24 on Alpha One’s scale. Alpha One also assigned news articles about the company an impact score of 81 out of 100, indicating that recent news coverage is very likely to have an impact on the company’s share price in the near future.
After four straight years of declining sales and a government tax investigation announced last month, Caterpillar Inc. (NYSE:CAT) investors are being rewarded for their patience. The shares headed for the biggest gain in five months after the company raised its forecast for 2017 sales, as China’s economy improves and demand in energy and transportation increases. Caterpillar boosted revenue forecasts on Tuesday to a range of $38 billion to $41 billion. First-quarter earnings and sales also topped analysts’ expectations.
Tyson Foods, Inc. (NYSE:TSN) has announced a plan to purchase AdvancePierre Foods Holdings Inc (NYSE:APFH) in an overall $4.2 billion merger, according to a joint company announcement released Tuesday, April 25, 2017. AdvancePierre Foods Holdings Inc., based out of Cincinnati with operations in Enid, has entered into a “definitive merger agreement” with Tyson that will see a subsidiary of the company offering to acquire all of AdvancePierre’s outstanding common shares for $40.25 per share in cash. The total enterprise value of the transaction, which has been approved by the boards of directors of both companies, includes approximately $3.2 billion in equity value and $1.1 billion in assumption of AdvancePierre debt.
Express Scripts Holding Company (NASDAQ:ESRX) ESRX 10.89% shares are down more than 13 percent after the company announced it is likely losing Anthem Inc ANTM 1.27%, its largest client, after Anthem’s current contract ends in 2019. Growing Concerns: The news is obviously a blow to Express’s business, but Baird analyst Eric Coldwell says the news shouldn’t come as a surprise. Anthem has sued Express claiming that is has been overcharged for services in the past. Anthem currently accounts for about a third of Express’s EBITDA. For now, Coldwell says Express without Anthem is worth around $53 per share.
Catabasis Pharmaceuticals Inc (NASDAQ:CATB) is having an incredible start to the day in the pre-market hours this morning, and for good reason. The company released positive clinical results, leading to excitement among investors and gains in the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:06), CATB is trading at $1.95 per share after a gain of $0.45 per share or 30.00% thus far today.
Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) traded at a yearly high level of $10.95 during the last trading session. The last session’s volume of 6.07 million shares was higher than its average volume of 4.92 million shares. The stock, after opening at $7.55, closed at $7.69 by scoring 2.67%. The total market capitalization remained at $1.29 billion. Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) have shown a high EPS growth of 37.30% in the last 5 years and has earnings growth of -71.10% yoy. Analysts have a mean recommendation of 2.40 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range). The stock appeared -29.77% below its 52-week highs and is down -8.45% for the last five trades.
As of late, the Street has taken a bit closer look at shares of ContraVir Pharmaceuticals, Inc. (NASDAQ:CTRV). In the latest session the stock moved -16.31%, putting the stock value at $1.18. After a recent check, shares of ContraVir Pharmaceuticals, Inc. (NASDAQ:CTRV) have been seen trading -39.80% off of the 50-day high and -8.53% away from the 50-day low. In terms of the stock price in relation to its moving averages, company shares are -27.30% away from the 20-day moving average and -24.19% off of the 50-day average. If we take a wider approach, shares have been trading -19.78% away from the 200-day moving average.
Alcoa Corp (NYSE:AA)’s first full quarter as a standalone company vindicates investors’ faith and signals even better times may be ahead. Profit excluding one-time items was 63 cents a share, New York-based Alcoa reported after the close of regular trading Monday, exceeding all seven estimates of analysts tracked by Bloomberg. Shares jumped as much as 7.1 percent on Tuesday.