Commodity stocks – along with the rest of the market – have been bludgeoned over the last couple of months as investors price in an extremely hawkish Fed. But earnings from Schnitzer Steel (SCHN) this morning suggest to me that…
Nike (NKE) reported underwhelming earnings after the close Monday. While EPS was down only 3% to 90 cents, Earnings Before Interest and Taxes (EBIT) was -26%. What gives? NKE’s EBIT margin was down 390 basis points year over year but…
To my mind, one of the most interesting developments in financial markets in the last few years is Warren Buffett’s accumulation of a large stake in Apple (AAPL). Long a technophobe in investing, Buffett ultimately built up a nearly 1…
Darden Restaurants (DRI) – owner of The Olive Tree – reported earnings Thursday before the market open. Blended comps of +11.7% were quite strong – especially on top of a strong quarter a year ago. But despite more than $300…
Among active managers, [TROW] is best of breed. The current multiple to 10 to 11 times is unheard of for T. Rowe – Morningstar Analyst Greggory Warren (quoted in “Markets Won’t Sink Forever. Asset Manager Stocks Are A Cheap Play…
Last Thursday The Wall Street Journal’s Greg Ip wrote an excellent column in which he argued that the Fed’s “critical junctures” i.e. hard decisions are still ahead of it. For the most part it’s been relatively easy for Powell to…
The Fed changed its mind – and told The Wall Street Journal’s Fed reporter Nick Timiraos. They were going to raise 50 basis points but after considering last Friday’s hot CPI number they’ve decided to raise 75. They told Timiraos…
As you can see in the green line in the chart above from zerohedge, 7 rate hikes are now priced in through September. That works out to two 50 point hikes and one 75 point hike and would bring the…
As I write (3:15am PST), panic has enveloped financial markets around the world. Germany, England and France are all trading down ~2% and US Index Futures are down between 2.25% and 2.75%. In other words, everybody is going to be…
Steph Curry wasn’t expected to be much of a college basketball player. As a 5’6″, 125 lb. sophomore at Charlotte Christian High School, he still shot the ball from his waist because he lacked strength. He had to reconstruct his…