We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Welcome to the record bull run! After 113 months, by some metrics we currently ride with the longest bull run in history. Since March 9, 2009, the day the markets hit their nadir following the mortgage-backed financial collapse the previous fall, indexes have gamely climbed 324% from that point til now.
However, if you really want to get into what constitutes a “record” bull rally, you need to consult Zacks Executive Vice President Kevin Matras’ latest take on the subject here: S&P Breaks Out to New Highs, One for the Record Books
We are slow, news-wise, ahead of the bell yet again this morning (such is life in late August every year), although we do expect to see a new read on Existing Home Sales at 10am ET today. A consensus estimate of 5.4 million in the month of July are a smidge up from the 5.38 million we saw reported the previous month. And don’t forget the Fed minutes from last Federal Open Market Committee (FOMC) meeting, which will be released at 2pm ET this afternoon.
Otherwise, Q2 earnings season continues to sweep up the final companies yet to report, and here we see some more positive news. Following Urban Outfitters’ (URBN - Free Report) strong report yesterday after the closing bell — where the company’s reported 84 cents per share beat the 76 cents expected on $992.45 million in sales which topped the Zacks consensus by 1.5%, sending pre-market shares up more than 5% — we hear from more S&P 500 fixtures this morning:
Zacks Rank #2 (Buy) and Zacks Style Score A-rated Target Corp. (TGT - Free Report) beat bottom-line estimates by 7 cents to $1.47 per share, up nearly 20% year over year, on quarterly sales of $17.78 billion which topped the consensus $17.33 billion. Comps rose 6.5% from the company’s fiscal Q2 2018 a year ago, helping shares grow more than 5% in today’s pre-market.
Lowe’s (LOW - Free Report) also beat estimates on its top and bottom lines in its fiscal Q2 earnings report. Earnings of $2.07 per share beat the Zacks consensus by a nickel, while quarterly revenues were up marginally from expectations to $20.98 billion. Shares are up 2.4% so far in today’s pre-market.
Finally, analog semiconductor major Analog Devices (ADI - Free Report) outperformed expectations in its fiscal Q3 2018 quarter by reporting $1.53 per share, above the $1.46 expected and the $1.26 in the previous year’s quarter. Revenues of $1.57 billion topped the Zacks consensus by more than 3.5%. Although shares are down 3% in today’s early trading so far.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
"Record" Bull Rally and More Q2 Earnings Reports
Wednesday, August 22, 2018
Welcome to the record bull run! After 113 months, by some metrics we currently ride with the longest bull run in history. Since March 9, 2009, the day the markets hit their nadir following the mortgage-backed financial collapse the previous fall, indexes have gamely climbed 324% from that point til now.
However, if you really want to get into what constitutes a “record” bull rally, you need to consult Zacks Executive Vice President Kevin Matras’ latest take on the subject here: S&P Breaks Out to New Highs, One for the Record Books
We are slow, news-wise, ahead of the bell yet again this morning (such is life in late August every year), although we do expect to see a new read on Existing Home Sales at 10am ET today. A consensus estimate of 5.4 million in the month of July are a smidge up from the 5.38 million we saw reported the previous month. And don’t forget the Fed minutes from last Federal Open Market Committee (FOMC) meeting, which will be released at 2pm ET this afternoon.
Otherwise, Q2 earnings season continues to sweep up the final companies yet to report, and here we see some more positive news. Following Urban Outfitters’ (URBN - Free Report) strong report yesterday after the closing bell — where the company’s reported 84 cents per share beat the 76 cents expected on $992.45 million in sales which topped the Zacks consensus by 1.5%, sending pre-market shares up more than 5% — we hear from more S&P 500 fixtures this morning:
Zacks Rank #2 (Buy) and Zacks Style Score A-rated Target Corp. (TGT - Free Report) beat bottom-line estimates by 7 cents to $1.47 per share, up nearly 20% year over year, on quarterly sales of $17.78 billion which topped the consensus $17.33 billion. Comps rose 6.5% from the company’s fiscal Q2 2018 a year ago, helping shares grow more than 5% in today’s pre-market.
Lowe’s (LOW - Free Report) also beat estimates on its top and bottom lines in its fiscal Q2 earnings report. Earnings of $2.07 per share beat the Zacks consensus by a nickel, while quarterly revenues were up marginally from expectations to $20.98 billion. Shares are up 2.4% so far in today’s pre-market.
Finally, analog semiconductor major Analog Devices (ADI - Free Report) outperformed expectations in its fiscal Q3 2018 quarter by reporting $1.53 per share, above the $1.46 expected and the $1.26 in the previous year’s quarter. Revenues of $1.57 billion topped the Zacks consensus by more than 3.5%. Although shares are down 3% in today’s early trading so far.
For more on URBN’s earnings, click here.
For more on TGT’s earnings, click here.
For more on LOW’s earnings, click here.
For more on ADI’s earnings, click here.
Mark Vickery
Senior Editor
Questions or comments about this article and/or its author? Click here>>
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>