DAILY MARKET UPDATE

February 14, 2019

Asian stock markets were subdued today, as investors wait for concrete developments in the U.S.-China trade talks. Disappointing U.S. December retail sales figures cast a pall over European markets and early U.S. market sentiment, but stocks pared most of their losses to end the day nearly flat. Sentiment was boosted after White House economic adviser Kudlow argued there may be “glitches” in the retail sales data due to the partial government shutdown, and after Senate Majority Leader McConnell indicated a border security funding deal was close at hand. Several press reports suggesting U.S. and China negotiators in Beijing remain at odds on key issues weighed on markets, while Coca-Cola had its worst day since the financial crisis, which put pressure on the Dow. The Dollar Index came in only marginally and held above 97, and cable weakened slightly after PM May lost the vote on a symbolic motion of approval for her Brexit renegotiation strategy.  

 

– After Market Movers:
-TLND Reports Q4 -$0.13 v -$0.15e, Rev $55.7M v $55.9Me; +13% afterhours
-NVDA Reports Q4 $0.80 v $0.75e, Rev $2.21B v $2.37Be; +8% afterhours
-SSNC Reports Q4 $0.95 v $0.85e, Rev $1.13B v $1.11Be; +8% afterhours
-ACOR Reports Q4 $0.45 v -$0.60e, Rev $69.2M v $40.6Me; +7% afterhours
-AIRG Reports Q4 $0.17 v $0.08e, Rev $16.6M v $16.5Me; +5% afterhours
-RDFN Reports Q4 -$0.14 v -$0.18e, Rev $124.1M v $117Me; +2% afterhours
-AMAT Reports Q1 $0.81 v $0.79e, Rev $3.75B v $3.72Be; -1% afterhours
-CBS Reports Q4 $1.50 v $1.53e, Rev $4.02B v $4.16Be; -3% afterhours
-MX Reports Q4 $0.10 v $0.23 y/y, Rev $179.4M v $174.6M y/y; -8% afterhours
-XPO Reports Q4 $0.72 v $0.83e, Rev $4.39B v $4.56Be; board approves $1.5B share buyback (20% of market cap); -12% afterhours
-LOGM Reports Q4 $1.47 v $1.41e, Rev $310.7M v $307Me; to undertake restructuring plan; Chairman to resign March 1st; Guides initial FY19 $4.90-4.97 v $5.79e; -14% afterhours.