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The Channel

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Trade Idea of the Day Presented by: The Fly

Kroger jumps 7% after Fast Company says talking merger with Target

Shares of Kroger (KR) are jumping after Fast Company reported that the grocery chain and Target (TGT) are discussing a potential merger. Kroger in premarket trading is up... Read More

Baker Hughes reports U.S. rig count up 5 to 995 rigs

Baker Hughes reports that the U.S. rig count is up 5 rigs from last week to 995, with oil rigs up 4 to 804, gas rigs up 1 to 190, and miscellaneous rigs unchanged at 1. The U.S. Rig Count is up 186 rigs from last year's count of 809, with oil rigs up 152, gas rigs up 35, and miscellaneous rigs down 1 to 1. The U.S. Offshore Rig Count is unchanged at 13 rigs and down 5 rigs from last year's count of 18. The Canada Rig Count is down 58 rigs from last week to 161, with oil rigs down 51 to 93, gas rigs down 7 to 68, and miscellaneous rigs...

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wynn Resorts (WYNN) and Wynn Macau (WYNMF) were upgraded to Buy from Hold at Union Gaming. 2. Cisco (CSCO) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Rod Hall saying as market volatility increases, Cisco provides a "relatively defensive" name in the sector. 3. General Mills (GIS) upgraded to Positive from Neutral at Susquehanna. 4. MPLX (MPLX) upgraded to Overweight from Equal Weight and Dominion...

New Home Sales Tumble For 3rd Straight Month - Worst Streak In 4 Years

After a surprise rebound in existing home sales (even as condo sales slumped), new home sales were expected to rebound in Feb from their 7.8% plunge in January, but grossly disappointed, dropping 0.6% MoM - the 3rd monthly drop in a row. This is the first time new home sales declined for 3 straight months since Q1 2014. New home sales are up just 0.5% YoY... Purchases rose in two of four U.S. regions, including a 9 percent gain in the biggest region, the South; sales fell 17.6...

Housing Inventory Tracking

Update: Watching existing home "for sale" inventory is very helpful. As an example, the increase in inventory in late 2005 helped me call the top for housing. And the decrease in inventory eventually helped me correctly call the bottom for house prices in early 2012, see: The Housing Bottom is Here. And in 2015, it appeared the inventory build in several markets was ending, and that boosted price increases. I don't have a crystal ball, but watching inventory helps understand the housing market. The graph below shows the year-over-year change for non...

Industrial bio-tech firm Aemetis jumps after completing environmental review

Aemetis (AMTX), an advanced renewable fuels and biochemicals company, disclosed earlier that the company achieved a major milestone by completing the key federal and state agency permitting and environmental approvals for construction of the cellulosic ethanol plant in Riverbank, California. Aemetis has received its Finding of No Significant Impact under the National Environmental Policy Act. This approval further confirms the previously received California Environmental...

Kansas City Fed: Regional Manufacturing Activity "Continued at a Solid Pace" in March

The Federal Reserve Bank of Kansas City released the March Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued at a solid pace, and optimism remained high for future activity. “Factory activity continued to grow steadily in March,” said Wilkerson. “Firms continued to report high input and selling prices...

AIA: "Architecture billings continue to hold positive in 2018"

The American Institute of Architects (AIA) is reporting an increase in architecture firm billings for February from its Architecture Billings Index (ABI), with several key segments showing an encouraging outlook for 2018. “We remain optimistic about the trends we’re seeing at architecture firms this year with the ABI continuing to show growth in February,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “We saw several major bright spots reflected in February’s data, as billings remained particularly strong at firms located...

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Myriad Genetics (MYGN) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Steve Beuchaw citing share price underperformance and improving cancer testing survey share trends. 2. FedEx (FDX) upgraded to Buy from Hold at Stifel with analyst David Ross saying he likes the company's "general earnings trajectory" following third quarter results. 3. Children's Place (PLCE) upgraded to Buy from Neutral at Citi with...

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