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Articles
Market Analysis – USD slides, AUD hits key level, Gold rallies
Risk on returned to global markets in Thursdays session with equities rebounding strongly on weak US data that refuelled hopes of a faster pace to the Feds rate cutting cycle come 2024. USD sold off sharply partly due to month-end flows ahead of the holidays but accelerated by a bis miss in Q3 US GDP which came in at 4.9% vs the expected 5.2%. T...
December 22, 2023Read More >Paychex results announced – the stock is down
US professional services company, Paychex Inc. (NASDAQ: PAYX), released financial results for second quarter of fiscal 2024 before the market open on Thursday. Revenue reached $1.258 billion (up by 6% year-over-year), which fell short of $1.268 billion expected. Earnings per share was reported at $1.08 per share (up by 9% year-over-year), sli...
December 22, 2023Read More >Cintas beats estimates and raises future outlook – the stock hits record high
American company that specializes in the manufacturing and sale of workwear and uniforms, Cintas Corporation (NASDAQ: CTAS), announced the latest financial results before the opening bell in Wall Street on Thursday. Cintas reported revenue of $2.377 billion for the second quarter of fiscal 2024 vs. $2.341 billion expected. Revenue was up by 9.3%...
December 22, 2023Read More >Carnival sets records and beats expectations – the stock is up
British-American cruise line company, Carnival Corporation (NYSE: CCL), reported fourth quarter and full year 2023 earnings results on Wednesday. Carnival reported revenue of $5.397 billion Q4 (a new quarterly record) vs. $5.295 billion expected. The company reported loss per share of -$0.07, which was less than -$0.126 loss per share expecte...
December 22, 2023Read More >Nike earnings results are here
The world’s biggest sporting goods company, Nike Inc. (NYSE: NKE), reported Q2 of fiscal 2024 after the US market closed on Thursday. Nike reported revenue of $13.388 billion for the quarter (up by 1% year-over-year and down by 1% on neutral currency basis), narrowly falling short of Wall Street estimate of $13.391 billion. Earnings per sha...
December 22, 2023Read More >Micron Technology results top estimates – the stock rises in the after-hours
Micron Technology Inc. (NASDAQ: MU) released first quarter of fiscal 2024 earnings results after the market close in the US on Wednesday. US semiconductor company reported revenue of $4.726 billion, which was above Wall Street analyst estimate of $4.581 billion. Earnings per share (EPS) reported loss per share of -$0.95 for the quarter vs. -$...
December 21, 2023Read More >General Mills posts mixed results
US food company, General Mills Inc. (NYSE: GIS), reported its latest financial results for second quarter of fiscal 2024 before the US open on Wednesday. Revenue reached $5.139 billion for the quarter, falling short of analyst estimate of $5.354 billion. Revenue was down by 2% year-over-year. Earnings per share (EPS) reported at $1.25 per sha...
December 21, 2023Read More >FedEx falls short – the stock is down
The World's second largest courier company, FedEx Corporation (NYSE: FDX), released its latest financial results for second quarter of fiscal year 2024 after the market closed in the US on Tuesday. The US company fell short of estimates for both revenue and earnings per share (EPS) for the quarter. Revenue reached $22.2 billion vs. $22.356 bi...
December 20, 2023Read More >Accenture results revealed
Irish-American professional services company, Accenture plc (NYSE: ACN), announced Q1 FY24 financial results before the opening bell in the US on Tuesday. The company reported revenue of $16.224 billion for the three months that ended on 30/11/23, which was narrowly above analyst estimate of $16.169 billion. Earnings per share (EPS) reached $...
December 20, 2023Read More >FX Analysis – DXY, USDJPY, USDCAD, AUDUSD
USD was offered in Tuesdays session, with the US Dollar Index (DXY) printing a low of 102.060 ahead of the last major economic release for the year in Fridays Core PCE reading. Hawkish leaning comments from the Feds Bostic that he only sees two Fed rate cuts in 2024, less than the Fed median of three and well under the market pricing ...
December 20, 2023Read More >FX Analysis – USDCAD, USDJPY, AUDUSD
FX traders have some tier one data releases to look forward to today, including the last major central bank meeting in the form of the Bank of Japan. RBA monetary policy minutes and Canadian CPI also having market moving potential. AUDUSD The Aussie was modestly in the green in Monday’s session after initial strength that saw it outperfor...
December 19, 2023Read More >NIO gets a boost from the Middle East
It was positive start to a new week for the Chinese electric vehicle company, NIO Inc. (NYSE: NIO), after it announced a $2.2 billion strategic investment from an Abu Dhabi based investment firm CYVN Holdings on Monday. The deal is expected to be completed in the last week of December and it will make CYVN a major shareholder in the company with...
December 19, 2023Read More >The Week Ahead – US and UK inflation, RBA minutes, BoJ meeting
Equity markets enter the second last week of 2023 on a roll, with US equities rallying for seven straight weeks and seeing all time highs in the Dow. The risk on rally was turbo charged last week after a dovish pivot from the US Fed in the December meeting saw yields and the Dollar tank and everything else bid heavily with rallies in Gold, Oil, ...
December 18, 2023Read More >Costco posts solid results
American wholesale chain, Costco Wholesale Corporation (NASDAQ: COST), announced financial results for the first quarter of fiscal year 2024 after the closing bell in the US on Thursday. Company overview Founded: September 15, 1983 Headquarters: Issaquah, Washington, United States Number of employees: 316,000 (2023) Industry:...
December 15, 2023Read More >Lennar exceeds expectations
World’s 4th largest construction company, Lennar Corporation (NYSE: LEN), released its fourth quarter and full-year of fiscal 2023 financial results after the market close on Wall Street on Thursday. Company overview Founded: 1954 Headquarters: Waterford District, unincorporated Miami-Dade County, Florida (Miami, Florida postal address...
December 15, 2023Read More >
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