2020/4/26 投資ネタ

UG
#Dow upgraded to Overweight on higher oil prices at JPMorgan on beneficiary of higher oil prices, it has a "durable" 5% dividend yield, its value is sensitive to acceleration in global economic activity, and its downside risk is "cushioned by the existence of global political tensions
#ENPH upgraded to Overweight from Equal Weight at Barclays as de-stocking will be completed by the end of Q2 and demand is set to increase from trough levels throughout 2024
#WDC +1.6% upgraded to Buy at Benchmark after 'major upside results' on "major upside results" driven by improving flash pricing and nearline drive sales

DG
#AMD downgraded to Hold at Erste Group on valuation
#AAPL Erste downgrades to Hold on slowing growth
#CAT Stifel DOWNGRADED to "Hold" from Buy as With the business looking to be flattening over the near term, we expect cycle concerns will be amplified and cap multiple expansion opportunities
#KNX flat downgraded to Hold from Buy at Stifel on the unexpected duration of softness in the freight market
#BYD downgraded to Hold from Buy at Deutsche Bank citing struggles to identify near term catalysts, a change in the cadence of property level results, or an event that triggers a re-rating in share
#BYD downgraded to Neutral from Overweight at JPMorgan as the firm is concerned about the state of the low-end gaming consumer, "across the board.
#MBLY downgraded to Underweight from Equal Weight at Morgan Stanley as a surprise slowdown in electric vehicle adoption limits its total addressable market through 2030 amid aggressive competition
#TDY downgraded to Neutral from Buy at BofA on "miss-and-cut" on weakness in its Digital Imaging unit
#HTZ downgraded to Underperform from Neutral at BofA as he company's Q1 results "well below" BofA and Street estimates failed to allay concerns about higher fleet costs that are unlikely to meaningfully subside in the near-term. Liquidity is also an increasing concern.

Initiate

earnings
#XOM Q1 2024 EPS misses expectations, revenue exceeds forecasts. Anticipates record oil demand, plans to increase annual share buybacks following Pioneer transaction closure.：天然ガス価格と精製マージンの下落で収益減少
#CVX Beats Expected EPS, Misses Revenue, Reports 12% Higher World Production, and Returns $6B to Shareholders：世界での生産12% YoY、米国 35% YoY
#ABBV raises annual profit forecast on strong Skyrizi sales
#HCA ：The strong fundamentals we saw in our business this past year continued into the first quarter of 2024
#CL ：マージン310bp改善/SSS +9.8%/値上げしてもボリューム増加
#CHTR Announces First Quarter 2024 Results
#CNC ：2024の保険料収入の見通しを1bln増額。
#ALV ：SSS 5% YoY/生産増とコストカットでマージン改善/インフレ圧力は続いており、価格転嫁が必要

マクロ・債券
(US)
Walmart President: “At $WMT, we are now seeing prices that are in line with where they were 12 months ago. I haven’t been able to say that for a few years now,”
US PERSONAL INCOME MOM ACTUAL 0.5% (FORECAST 0.5%, PREVIOUS 0.3%) $MACRO
US CONSUMER SPENDING MOM ACTUAL 0.8% (FORECAST 0.6%, PREVIOUS 0.8%) $MACRO
UNIVERSITY MICHIGAN CONDITIONS FINAL ACTUAL 79 (FORECAST 79.1, PREVIOUS 79.3) $MACRO
(EU)
FRENCH CONSUMER CONFIDENCE ACTUAL 90 (FORECAST 92, PREVIOUS 91) $MACRO
#ECB 1Y Inflation Expectations 3.0% (last 3.1%)
ECB 3Y Inflation Expectations 2.5% (est 2.4%, last 2.5%)
(その他)
UK GFK CONSUMER CONFIDENCE ACTUAL -19 (FORECAST -20, PREVIOUS -21) $MACRO
TOKYO AREA APRIL CORE CPI SEES A YEAR ON YEAR INCREASE OF 1.6%, BELOW GOVERNMENT ESTIMATES (SOURCE POLL: +2.2%)
AUSTRALIAN EXPORT PRICES QOQ ACTUAL -2.1% (FORECAST -0.6%, PREVIOUS 5.6%) $MACRO
AUSTRALIAN IMPORT PRICES QOQ ACTUAL -1.8% (FORECAST 0.1%, PREVIOUS 1.1%) $MACRO
AUSTRALIAN PPI QOQ ACTUAL 0.9% (FORECAST -, PREVIOUS 0.9%) $MACRO
BOJ KEEPS SHORT-TERM INTEREST RATE TARGET AT 0.0%
BOJ QUARTERLY REPORT: MODERATELY HEIGHTENING INFLATION EXPECTATIONS

コモディティ
Last week, copper prices soared to a two-year high just shy of $10,000 per ton. Citi has predicted that copper prices could skyrocket to $12k/t over the next three months
ロンドン銅先物が上昇、２年ぶりに１万ドル台－需要拡大を楽観視