Rover's Weekly Market Brief - 12/05/2015

December 5, 2015 |

Indices

Dow Jones: 17,245.1 (-3.7%)

NASDAQ: 4927.88 (-4.3%)

S&P 500: 2023.04 (-3.6%)

Commodities

Copper: 216.45 (-4.4%)

Gold: 1086.60 (-2.1%)

Coffee: 112.15 (-4.8%)

Markets

Dish Network (NASDAQ: DISH) reported a 1.47% rise in revenue for 2015 Q3 while net income rose 34.25% YoY. Net Pay-TV subscribers declined 23,000 this quarter compared to a decrease of 12,000 for 2014Q3. DISH recorded a diluted EPS of $0.42 which is a 35.48% increase from $0.31 for 2014 Q3.

Priceline (NASDAQ: PCLN) revenues for 2015 Q3 rose 9.39% YoY while net income rose 12.66% YoY. International sales increased 8.3% (accounts for 88.5% of sales) while US sales declined 2.5%. Priceline saw its diluted EPS rise from $20.03 Q3 last year to $23.41 Q3 this year.

Cisco (NASDAQ: CSCO) sales for 2016 Q1 are up 3.59% driven by the Data Center (24% YoY) and Collaboration (17% YoY) business segments. Net income increased 32.79% to $2.43 billion from $1.83 billion. This quarter’s diluted EPS came in at $0.48 compared to $0.35 Q1 last year.

Macy’s (NASDAQ: M) recorded a 5.18% decline in net sales for 2015 Q3 as a result of falling demand and its plans to close 35 to 40 stores by early next year. Consequently, net income fell by 46.08% from $217 million to $117 million and EPS decreased 40.98% to $0.36 per share this quarter from $0.61 last year.

Economy

Import and export prices (indices) for October went further into contraction, both declined 0.3%. Import prices are down 10.5% YoY reflecting a strong dollar and lower prices caused by the oil price downturn. Export prices, on the other hand, are down 6.7% YoY signaling global deflationary pressure and falling production.

Crude Oil (CL1) is down 8.4% this week. It rose to $44.69 per barrel on Tuesday before falling to $40.74 on Friday. US commercial inventories rose by 4.2 million barrels to 487.0 million barrels from 482.8 million last week according to the EIA. The International Energy Agency (IEA) reported that OECD commercial inventories neared a record 3 billion barrels in September.

Initial unemployment claims for the week ending November 7 are unchanged at 276,000 while continuing claims for the week ended October 31 rose by 5,000. Overall, both initial and continuing claims remain at low levels. According to the Bureau of Labor Statistics (JOLTS report for September), hires (5 million) exceeded separations (4.8 million) which is a positive sign, but that was little change from August.

Looking Ahead

As we are still deep in earnings season, check out next week’s earnings calendar.

Monday Tuesday Wednesday Thursday Friday
JD.com (JD) Walmart (WMT) Lowe’s (LOW) Intuit (INTU) Foot Locker (FL)
Macquarie Grp (MCQEF) Home Depot (HD) Target (TGT) Best Buy (BBY) Abercrombie & Fitch (ANF)

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