$75 billion chip maker Micron (MU) reported earnings for the quarter ended August 31, 2023 after the close Wednesday. Results show no signs of a fundamental recovery in MU’s business. Revenue of $4.010 billion was -40% compared to a year…
Yesterday morning I previewed United Natural Foods (UNFI) and Costco (COST) earnings. As I said I would, I bought a small position in UNFI heading into earnings this morning – and that proved to be a mistake. The quarter marked…
This week a number of stocks I follow report earnings: United Foods (UNFI), Costco (COST), Micron (MU), Carmax (KMX) and Nike (NKE). In this blog, I’ll preview the first two. UNFI is not an especially well known stock but it…
In the wake of the Fed’s “hawkish pause” Wednesday, in which they paused their interest rate hiking campaign but said they may still hike one more time this year and increased their forecast for the Fed Funds rate at the…
[Powell] didn’t sound to me like he was itching to hike again. He sounds like he’s pretty comfortable where they are, sitting back, and watching things play out – Michael Feroli, Chief Economist JP Morgan (quoted in Nick Timiraos, “Fed…
While the Fed is almost certain to pause its interest rate hiking campaign tomorrow, the question now is whether it can engineer a soft landing. On the front page of today’s WSJ, Nick Timiraos surveyed the risks (“Why A Soft…
The focus next week will be on the Fed Decision on Wednesday at 2pm EST. However – despite the August CPI coming in slightly hotter than expected this Wednesday – the Fed is widely expected to pause. Whether they are…
Adobe (ADBE) is a great company and a key player in the digital economy. That said, I think the stock has gotten too hot and should be faded into earnings Thursday afternoon. ADBE stock has doubled in the last year…
Anybody who has travelled in the south knows about Cracker Barrel Old Country Restaurant (CBRL) because they’re everywhere. I’ve followed the stock ever since I drove from Las Vegas to Alexandria, Virginia in the Summer of 2010 and discovered its…
One stock reporting earnings that I did not cover in the weekly preview is homebuilder Lennar (LEN). With a $34 billion market cap, LEN is one of the larger publicly traded homebuilders, along with DR Horton (DHI). As interest rates…