On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney highlights this week’s jobless claims data, Micron’s latest analyst woes, and other major headlines from the likes of JD.com and G-III Apparel. Later, he is joined by Dave Bartosiak to review the stock market’s top stories of the week.
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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
Initial jobless claims for last week came in at their lowest level since 1969, further proving the strength of the labor market. Still, stocks were down in morning trading as tech companies—specifically chipmakers—sold off on the back of outlook concerns.
One of the major chipmakers sinking in morning trading today was Micron (
MU - Free Report) . This stock was particularly volatile after analysts from Baird lowered their price target and full-year earnings estimate for the company. Baird sees margin pressure on the horizon for Micron, and although it still has an outperform rating for the stock, it has removed the memory giant as its top semi large-cap idea.
Elsewhere, shares of JD.com (
JD - Free Report) were attempting to stage a rebound Thursday, just one day after the company’s CEO, Richard Liu, was arrested in Minnesota on suspicion of rape. Liu was released after 16 hours in custody, and no charges have been filed yet, but investors are worried about the ongoing investigation as the chief executive reportedly has an “iron grip” on management and has not outlined a succession plan.
In some positive news, investors were happy to see better-than-expected earnings results from G-III Apparel (
GIII - Free Report) , the owner of brands like Calvin Klein and DKNY. The apparel maker topped estimates and raised its guidance, citing strength in its wholesale business as reasons for the upbeat attitude.
Ryan discusses these news stories, providing investors with the key facts they need to know and giving his unique perspective on the headlines—all on the first half of today’s show.
Later, he is joined by Zacks Strategist Dave Bartosiak to recap a few of the major headlines from earlier in the week. Dave helps explain why trade talks between the U.S. and Canada are so important, and he speculates as to what the catalyst for Amazon (
AMZN - Free Report) reaching $1 trillion truly was.
The pair also chat about Micron and discuss whether Dave is still bullish on the stock in the long-term. Finally, they field questions from the audience related to chip stocks, the VIX, and other current market happenings.
Make sure to check out the show to hear more!
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