Stocks finished the weak lower as Brexit fears sunk sentiment and the Federal Reserve did little to boost confidence even as it left interest rates unchanged.
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The S&P 500 fell 1.2% to 2,071.22 this week after dropping 0.3% today, while the Dow Jones Industrial Average declined 1.1% to17,675.16 this week after dipping 57.94 points, or 0.3%, today. The Nasdaq Composite tumbled 1.9% to 4,800.34 this week after dropping 0.9% today.
Wellington Shields’ Frank Gretz considers the possibility of Brexit:
Brexit isnt exactly new news, but suddenly its all the rage as a market driver. Economists are universal in their vote to stay, but Brexit is about more than just the economy. The bloke on the street is thinking about immigration, which adds a whole dimension beyond economics to the logic and possible outcome. Enough of our two cents, lets talk real money. The polls are one thing, the betting parlors another. The latter, the money, is betting on the no-go vote. The Investors Intelligence Survey, which we allude to from time-to-time, offers a warning sign when bulls greatly outnumber bears. However, it is a measure of market letter writers and, trust us on this one, what do they know? More worrisome, its a survey. We rarely mention Put-Call Ratios, but we follow them the buying and selling of Puts and Calls. Both measures are useful but if the truth be known, we will always lean to what people/investors actually do, versus what they are saying . So when it comes to Brexit, we vote with the money…Brexit isnt discounted, regardless of whether the vote is stay or go. Its one of those known unknowns, which should make for a volatile week.
Best Freight Companies To Buy Right Now: Frontier Communications Corporation(FTR)
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States. The company offers residential services, such as fiber-to-the-home and fiber-to-the-node broadband, video, and voice over Internet protocol products, as well as traditional copper-based broadband products; and commercial services, including Ethernet, dedicated Internet, multiprotocol label switching, time division multiplexing, data transport services, and optical transport services. It also provides Frontier Secure suite of products for computer security, cloud backup and sharing, identity protection, equipment insurance, and technical support; unified messaging services comprising call forwarding, conference calling, caller identification, voicemail, and call waiting services; long distance network services; and packages of co mmunications services. In addition, the company offers switched access services that facilitate other carriers to use the companys facilities to originate and terminate their local and long distance voice traffic; satellite TV video services; a range of third-party communications equipment to small, medium, and enterprise business customers; and directories. As of December 31, 2014, it had approximately 3,214,800 residential customers; approximately 304,700 business customers; 2,373,900 broadband subscribers; and 586,600 video subscribers. The company was formerly known as Citizens Communications Company and changed its name to Frontier Communications Corporation in July 2008. Frontier Communications Corporation was founded in 1927 and is based in Norwalk, Connecticut.
- [By WilliamBriat]
Frontier Communications Corporation (NASDAQ: FTR) provides phone, Internet, and satellite TV (through a partnership with DISH Network) services to more than 25 states. The company provides an annual dividend of 9.3% and reaffirmed its full-year guidance.
Best Freight Companies To Buy Right Now: Retail Properties of America, Inc.(RPAI)
Retail Properties of America, Inc. is a real estate investment trust. It engages in acquisition, development and management of properties. The trust invests in the real estate markets of United States. Its portfolio consists of retail properties, including lifestyle, power, neighborhood, and community centers, in addition to single-user net lease properties. The firm was formerly known as Inland Western Retail Real Estate Trust, Inc. Retail Properties of America, Inc. is based in Oak Brook, Illinois.
- [By Ant贸nio Costa]
Retail Properties of America Inc (NYSE: RPAI) has been in an impressive rebound since the lows of August and the stock price action continues to become Bullish. However, RPAI has run into the downtrend line resistance again and this could lead to a brief period of sideways consolidation or price correction from current levels. On watch.
Best Regional Bank Stocks To Own For 2016: Fogo de Chao, Inc.(FOGO)
Fogo de Chao, Inc., incorporated on May 24, 2012, is a holding company. The Company operates Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company operates through two segments: the United States and Brazil. The Company is specialized in fire-roasting meats utilizing the Southern Brazilian cooking technique of churrasco. It delivers Brazilian dining experience through the combination of its Brazilian cuisine and its service model known as espeto corrido (Portuguese for continuous service) delivered by its gaucho chefs. The Company offers its guests with entree service table-side, which is available at each guest’s seat, green side up from its gaucho chefs. Each gaucho chef rotates throughout the dining room, and is responsible for a specific cut of meat, which they prepare, cook and serve to its guests throughout their meal. The Company operates over 30 restaurants in the United States and over 10 restaurants in Brazil, and a joint venture restaur ant in Mexico.
The Company’s menu consists of steak, including picanha, filet mignon, beef ancho, alcatra, fraldinha and costela; chicken, lamb and pork, including cordeiro, costela de porco, frango, lombo and linguica; seafood, including smoked salmon, jumbo shrimp cocktail and grilled spiced shrimp skewers; side dishes, including spring pea and asparagus soup, garlic mashed potatoes, caramelized bananas, pao de queijo, farofa, polenta, fogo feijoada and sauces; market table, including edamame roasted corn salad (seasonal), forbidden black rice salad (seasonal), hearts of palm, black pepper candied bacon, chicken salad and cold smoked salmon; desserts, including papaya cream, strawberry cream, caramelized pineapple and chocolate mousse cake, and bar fogo, including picanha sirloin slider, charcuterie board, grilled spiced shrimp skewers, mango refresco and superfruit lemonade. The Company’s menu also includes wines, such as Lapostolle, Merlot; Belle Glos, Pinot Noir; Lapostolle, Merlot, Rapel Valley, and Silver Oak, Cab! ernet Sauvignon.
- [By Monica Gerson]
Fogo De Chao Inc (NASDAQ: FOGO) is expected to post its quarterly earnings at $0.28 per share on revenue of $76.80 million.
Constellium NV (NYSE: CSTM) is estimated to report its quarterly earnings at $0.06 per share on revenue of $1.18 billion.
Best Freight Companies To Buy Right Now: Kohl’s Corporation(KSS)
Kohl?s Corporation operates department stores in the United States. The company?s stores offer private and exclusive, as well as national branded apparel, footwear, and accessories for women, men, and children; soft home products, such as sheets and pillows; and housewares primarily to middle-income customers. As of January 29, 2011, it operated 1,089 stores in 49 states. The company also offers on-line shopping on its Web site at Kohls.com. Kohl?s Corporation was founded in 1962 and is headquartered in Menomonee Falls, Wisconsin.
- [By Ben Levisohn]
Credit Suisse analysts Michael Exstein and Anjani Vedula call Kohl’s (KSS) the “canary in the coal mine” for mall retailers. They explain why:
Rarely does a sector see a secular shift as dramatic as the one now occurring in retail in general and the mall anchors specifically. After last year’s poor operating and stock performance, many retail investors are now expecting a significant cyclical recovery in margins. However, we do not think this is a realistic expectation because mall anchors’ expense structures have fundamentally changed for two reasons: 1) sales mix has shifted towards the lower margin e-commerce channel; 2) brick & mortar operating margins are increasingly pressured (on both an absolute dollar basis as well as % of sales basis), leading to lower operating margins in aggregate.
Using Kohl’s 10-K disclosure to illustrate this shift. We illustrate this secular shift in mall anchors’ expense structures by modelling the breakout in operating income for Kohl’s brick & mortar business (B&M) versus their e-commerce business. Kohl’s gives more details on the shift in SG&A than its peers, making it easier to illustrate the pressures the industry is under. In fact, in spite of the pressures, Kohl’s has maintained relatively constant sales as well as gross margins, no small feat considering they are absorbing shipping & handling charges associated with e-commerce. In effect, we are using Kohl’s as the “canary in the coal mine”, as a preview of a larger secular issue facing the mall anchor sector…
While all retailers with an e-commerce business are exposed to these secular changes to some degree, those with a higher e-commerce penetration are more exposed, sooner. On the brick & mortar operations side, those retailers with the lowest wage rates are likely to be most impact by the essentially industry-wide wage increases brought on b
- [By Ben Levisohn]
There’s been a lot of hand wringing about the dismal performance of department stores like Kohl’s (KSS), Macy’s (M), TJX Cos. (TJX), and Sears Holdings (SHLD) and what it says about the state of consumer spending. Yardeni Research’s Ed Yardeni argues that U.S. consumers are shopping, but that “Amazon (AMZN) is taking all the fun, and some of the profits, out of retailing…” He explains:
Best Freight Companies To Buy Right Now: 3M Company(MMM)
3M Company, together with subsidiaries, operates as a diversified technology company worldwide. The company?s Industrial and Transportation segment offers tapes, coated and non-woven abrasives, adhesives, specialty materials, filtration products, energy control products, closure systems for personal hygiene products, acoustic systems products, and components and products that are used in the manufacture, repair, and maintenance of automotive, marine, aircraft, and specialty vehicles. Its Health Care segment provides medical and surgical supplies, skin health and infection prevention products, inhalation and transdermal drug delivery systems, dental and orthodontic products, health information systems, and food safety products. The company?s Display and Graphics offers optical film solutions for LCD electronic displays; computer screen filters; reflective sheeting for transportation safety; commercial graphics sheeting and systems; and mobile interactive solutions, includin g mobile display technology, visual systems products, and computer privacy filters. The company?s Consumer and Office segment provides office supply products, stationery products, construction and home improvement products, home care products, protective material products, certain consumer retail personal safety products, and consumer health care products. Its Safety, Security and Protection Services segment offers personal protection products, safety and security products, cleaning and protection products for commercial establishments, track and trace solutions, and roofing granules for asphalt shingles. The company?s Electro and Communications segment provides packaging and interconnection devices; fluids that are used in the manufacture of computer chips, and for cooling electronics and lubricating computer hard disk drives; high-temperature and display tapes; insulating materials, including tapes and resins; and related items. The company was founded in 1902 and is base d in St. Paul, Minnesota.
- [By Dividends4Life]
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Best Freight Companies To Buy Right Now: Gulfport Energy Corporation(GPOR)
Gulfport Energy Corporation engages in the exploration, development, and production of oil and natural gas properties. Its principal properties are located in the Louisiana Gulf Coast, in west Texas in the Permian Basin and in western Colorado in the Niobrara Formation. The company also holds acreage position in the Alberta oil sands in Canada; and interests in entities that operate in southeast Asia, including the Phu Horm gas field in Thailand, as well as leasehold interests in the Utica Shale in eastern Ohio. As of December 31, 2011, it had 19.4 million barrels of oil equivalent of proved reserves. The company is headquartered in Oklahoma City, Oklahoma.
- [By Ben Levisohn]
Wells Fargo’s David Tameron and team note that oil exploration & production stocks are “trading well ahead of historical levels” but they find some stocks–includingApache (APA), Anadarko Petroleum (APC), and Gulfport Energy (GPOR)–that still trade at attractive valuations. They explain: