Orchids Paper Products Company (TIS) had a rough trading day for Monday January 28 as shares tumbled 7.59%, or a loss of $-0.081932 per share, to close at $1.00. After opening the day at $1.06, shares of Orchids Paper Products Company traded as high as $1.13 and as low as $0.96. Volume was 300,518 shares over 793 trades, against an average daily volume of 246,224 shares and a total float of 10.67 million.
Crane Co. (CR) traded on unusually high volume on Jan. 28, as the stock lost 0.29% to close at $79.14. On the day, Crane Co. saw 657,361 shares trade hands on 3,894 trades. Considering that the stock averages only a daily volume of 334,405 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
WEX Inc. (WEX) traded on unusually high volume on Jan. 28, as the stock lost 1.06% to close at $160.43. On the day, WEX Inc. saw 858,320 shares trade hands on 4,920 trades. Considering that the stock averages only a daily volume of 441,440 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
LONDON – Oil fell 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest gain in the month of January for 14 years.
While U.S. stocks and corporate debt have rallied from their December lows, there’s scope for further gains from an official Federal Reserve confirmation that it’s pivoting away from monetary tightening for now, according to JPMorgan Chase & Co.
The United States is now open for business — albeit temporarily. And the stock market gave a collective shrug. And for good reason.
Equities were chosen to be the best global asset class this year, followed by emerging-market credit and cash, according to a survey of attendees at a Goldman Sachs Group Inc. conference last week in Hong Kong.
Stocks were the top pick by 33 per cent of the respondents, while 25 per cent said the best performer would be emerging-market credit, Goldman said in a report on January 25. Cash was picked by 14 per cent, developed-market government bonds by 13 per cent, commodities by 10 per cent and developed-market corporate bonds by 5 per cent of people.
“Investors think China/US trade tensions may ease, if not remain unchanged in current position,” Goldman strategists including Timothy Moe wrote in the report, citing the survey results.
“Politics and trade friction are considered to be the biggest risks to equities, followed by economic recession.”
The survey comes after a year in which uncertainty about everything from the Federal Reserve’s rate trajectory to global trade policy to economic growth and corporate earnings has risen. The MSCI All-Country World Index fell 11 per cent in 2018, its worst performance since 2008, and other asset classes struggled mightily as well.
Global equity returns as measured by the MSCI ACWI were seen by half of respondents in the 5 per cent to 10 per cent range this year. About 12 per cent expected better performance than that, while 38 per cent foresee the gauge ending 2019 flat or down. With the gauge ending 2019 flat or down. With the gauge already up 6.3 per cent less than a month into 2019, that would indicate a relatively flat performance for the rest of the year.
In terms of regions, 53 per cent believe Asia ex-Japan will perform the best, with the US ranked best by 21 per cent.
By industry group, technology led the pack with 32 per cent, while consumer stocks got 21 per cent of votes. The survey found some division with a question on which central bank will surprise the most.
The Federal Reserve garnered more than half the votes, with 30 per cent saying it would be more dovish than expected, and 22 per cent saying it would be more hawkish.
The People’s Bank of China being surprisingly dovish was picked by 18 per cent, while 16 per cent said it would be the European Central Bank being more dovish than thought. That’s on top of a split in how many times respondents think the Fed will hike this year. Around 41 per cent said it would be once, 29 per cent said twice and 20 per cent said the central bank would remain on hold this year.
Electronic Arts Inc. (NASDAQ:EA) – SunTrust Banks cut their FY2019 earnings estimates for Electronic Arts in a research report issued on Tuesday, January 8th, according to Zacks Investment Research. SunTrust Banks analyst M. Thornton now anticipates that the game software company will post earnings of $3.92 per share for the year, down from their previous forecast of $3.96. SunTrust Banks has a “Buy” rating and a $105.00 price objective on the stock.
Lamar Advertising Co (NASDAQ:LAMR) – Equities researchers at Imperial Capital issued their Q1 2020 earnings estimates for shares of Lamar Advertising in a research note issued on Wednesday, January 23rd. Imperial Capital analyst D. Miller anticipates that the real estate investment trust will earn $1.11 per share for the quarter. Imperial Capital has a “Outperform” rating and a $88.00 price objective on the stock. Imperial Capital also issued estimates for Lamar Advertising’s Q2 2020 earnings at $1.66 EPS, Q3 2020 earnings at $1.64 EPS and Q4 2020 earnings at $1.48 EPS.
TE Connectivity Ltd (NYSE:TEL) – Investment analysts at Oppenheimer cut their Q2 2019 earnings per share estimates for shares of TE Connectivity in a report issued on Wednesday, January 23rd. Oppenheimer analyst C. Glynn now forecasts that the electronics maker will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.40. Oppenheimer also issued estimates for TE Connectivity’s Q3 2019 earnings at $1.41 EPS, Q4 2019 earnings at $1.48 EPS, FY2019 earnings at $5.45 EPS and FY2020 earnings at $6.10 EPS.
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