The Closer – Loss of AAA, S&P Addition, Canada – 5/20/25
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin with further analysis into the US debt downgrade (page 1) followed by a look at S&P 500 additions (page 2). Next we dive into the rally in Canadian stocks (page 3) and the latest CPI data for that country (page 4). We close out with a review of the latest regional Fed data (page 5).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Daily Sector Snapshot — 5/20/25
Bespoke’s Paul Hickey on with Lou Navellier
Below is a link to our recent appearance on Lou Navellier’s show — Market Buzz — where we had a nice conversation about stocks! Please watch when you have a chance.
B.I.G. Tips – Earnings Triple Plays Recap: Q1 2025
During the just-completed Q1 2025 earnings reporting period, there were a total of 78 earnings triple plays out of just under 2,000 individual quarterly earnings reports from US-listed stocks. That’s 16 more than the 62 triple plays we saw during the prior earnings reporting period.
What is a triple play? When a stock reports quarterly earnings, it registers a “triple play” when it beats analyst EPS estimates, beats analyst revenue estimates, and raises forward guidance. We coined the term back in the mid-2000s, and you can read more about it at Investopedia.com. We consider triple plays to be the cream of the crop of earnings season, and we’re constantly finding new long-term opportunities from this basket of names each quarter. You can track the newest earnings triple plays on a daily basis at our Triple Plays page if you’re a Bespoke Premium or Bespoke Institutional member. To read our newest report and see some of the triple plays with intriguing charts at the moment, start a two-week trial to Bespoke Premium!
Q1 2025 Earnings Conference Call Recaps: Viking (VIK)
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers Viking’s (VIK) Q1 2025 earnings call.
Viking (VIK) is a global cruise operator through its river, ocean, and expedition cruises, primarily catering to affluent, culturally curious travelers aged 55 and older. Known for its minimalist Scandinavian design and immersive itineraries, Viking operates a fleet of over 90 vessels that sail in Europe, Asia, North America, and Antarctica. Viking provides valuable insight into the behavior of high-net-worth leisure consumers and demand trends in experiential travel. VIK reported nearly $900 million in revenue (+24.9% YoY) and net yields up 7.1%, driven by 14.9% capacity growth and strong occupancy in both river and ocean segments. Bookings remain strong, with 92% of 2025 capacity sold and 37% of 2026 already booked. Management emphasized its dynamic pricing strategy, with no use of promotions despite macro uncertainty. The company touted its loyal, financially stable customer base, long booking windows, and resilience during economic softening. VIK also announced the Viking Libra, the world’s first hydrogen-powered cruise ship. Despite better-than-expected results, VIK shares fell as much as 6.8% on 5/20 after Q1 passenger numbers failed to meet analysts’ mark…
Continue reading our Conference Call Recap for VIK by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Q1 2025 Earnings Conference Call Recaps: Home Depot (HD)
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers Home Depot’s (HD) Q1 2025 earnings call.
Home Depot (HD) is the world’s largest home improvement retailer, operating over 2,300 stores across North America and serving both do-it-yourself (DIY) homeowners and professional contractors. It sells building materials, tools, appliances, garden products, and home services. With a $1 trillion addressable market and an aging housing stock (55% of homes are over 40 years old), Home Depot is positioned as a critical player in long-term renovation and maintenance cycles. HD’s Q1 sales rose 9.4% to $39.9B, with US comps up 0.2%. However, large remodels remain muted as high interest rates weigh on financing. Management estimates a $50B shortfall in deferred home improvement spend. Engagement in smaller projects remains strong, aided by favorable weather in March and April. Pro sales outpaced DIY, and SRS continues to beat expectations, especially in credit onboarding. HD reaffirmed guidance despite tariff concerns, citing supply chain diversification, and no single non-US country will account for more than 10% of purchases in 12 months. Digital tools like Magic Apron and AI-powered associate support continue gaining traction. After posting mixed results, HD shares slid into the red on 5/20 after starting 2% higher…
Continue reading our Conference Call Recap for HD by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Q1 2025 Earnings Conference Call Recaps: CAVA (CAVA)
Bespoke’s Conference Call Recaps use AI to summarize lengthy earnings calls. The commentary below is AI-generated and then edited by Bespoke for quality control. As always, none of these summaries should be construed as recommendations to buy or sell any securities, and investors should do their own research and/or consult with a financial professional before making any investment decisions.
Our latest recap available to Bespoke subscribers covers CAVA’s (CAVA) Q1 2025 earnings call.
CAVA (CAVA) is a fast-casual restaurant chain redefining Mediterranean cuisine for the American market. Known for health-forward grain bowls, pitas, and seasonal specialties, CAVA operates over 380 restaurants across 26 states. CAVA targets a broad demographic by uniting affordability with premium ingredients, and it continues to scale rapidly, aiming for 1,000 locations by 2032. CAVA delivered a strong Q1, with revenue up 28.2% to $328.5M and same-restaurant sales rising 10.8%, fueled by 7.5% traffic growth. Unit expansion remains aggressive, with 15 net-new openings and new market entries in Indiana and Miami. The company highlighted the success of its “Spice World” campaign and ongoing protein innovation like spicy lamb bowls and chicken shawarma tests. Loyalty engagement grew nicely, with nearly 8M members and sales via the program up 340bps. Operationally, CAVA is rolling out its Connected Kitchen platform (including AI-powered assistants) to 250 restaurants and reported solid early gains in guest satisfaction. Despite macro headwinds, CAVA maintained strong traffic across all geographies and income tiers. Despite better-than-expected results, the stock fell roughly 3.5% on Friday morning…
Continue reading our Conference Call Recap for CAVA by becoming a Bespoke Institutional subscriber. You can sign up for Bespoke Institutional now and receive a 14-day trial to read our newest Conference Call Recap. To sign up, choose either the monthly or annual checkout link below:
Chart of the Day – Spitting Distance
Bespoke’s Morning Lineup – 5/20/25 – Mixed But Off the Lows
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“Every man who says frankly and fully what he thinks is so far doing a public service.” – John Stuart Mill
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Is it summer already? Summer doesn’t officially start for another month, and the unofficial start isn’t until this weekend, but we’re in the doldrums regarding futures. Depending on the index, futures are slightly higher or lower, but they’re all off the overnight lows. There’s no economic data on the calendar this morning, but several Fed speakers are scheduled to speak throughout the day.
The only major earnings report of the day is Home Depot (HD). The company reported weaker-than-expected EPS and broke a streak of 19 straight quarters of EPS beats. Revenues were higher than expected, though, and the company reiterated full-year guidance and said they do not plan to raise prices due to tariffs. In response, the stock is up about 2%.
Like the S&P 500, the Nasdaq 100 also comes into today riding a six-day winning streak. After yesterday’s gain, the index is currently within 4% of its all-time high, meaning that all it would take is a rally almost as strong as the last six days to get us there. Given the magnitude of the gain over the last six days, though, it’s unlikely we’ll see a move like that in the next several days, not only because we’re now sitting at overbought levels in the short term but also because the index is bumping up against potential resistance.
The Closer – Leading Indicators, Policy Rates, Credit Ratings – 5/19/25
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we lead off with the weak reading in leading indicators in addition to an update on global policy rates (page 1). We then show the recovery in AI stock prices (page 2) before pivoting over to a look at the few stocks now holding better credit ratings than the US government (page 3).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!