The Closer – NVIDIA (NVDA) Earnings, Momentum, Terrible 20s – 2/21/24
Log-in here if you’re a member with access to the Closer.
Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start with a look into the much anticipated earnings of NVIDIA (NVDA), EV makers, and more (page 1). We then check in on the factor performance (page 2) before recapping today’s release of the Fed Minutes (page 3). We finish with a rundown of this afternoon’s historically bad 20-year bond auction (page 4)
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Bespoke Baskets Update — February 2024
Daily Sector Snapshot — 2/21/24
The Triple Play Report — 2/21/24
An earnings triple play is a stock that reports earnings and manages to 1) beat analyst EPS estimates, 2) beat analyst sales estimates, and 3) raise forward guidance. You can read more about “triple plays” at Investopedia.com where they’ve given Bespoke credit for popularizing the term. We like triple plays as an indication that a company’s business is firing on all cylinders, with better-than-expected results and an improving outlook. A triple play is indicative of positive “fundamental momentum” instead of pure fundamentals, and there are always plenty of names with both high and low valuations on our quarterly list.
Bespoke’s Triple Play Report highlights companies that have recently reported earnings triple plays, and it features commentary from management on triple-play conference calls, company descriptions and analysis, and price charts. Bespoke’s Triple Play Report is available at the Bespoke Institutional level only. You can sign up for Bespoke Institutional now and receive a 14-day trial to read this week’s Triple Play Report, which features 28 new stocks. To sign up, choose either the monthly or annual checkout link below:
Bespoke Institutional – Monthly Payment Plan
Bespoke Institutional – Annual Payment Plan
Nova (NVMI) is an example of a company that reported an earnings triple play recently.
NVMI has an impressive earnings history, as shown in the snapshot below from our Earnings Explorer. The company has topped EPS and revenue estimates in each of its last 25 earnings reports. The streak of EPS beats goes back even further to 39 consecutive reports. Supporting the strong earnings performance is the growing adoption of its metrology solutions across semiconductor manufacturing processes. You can read more about NVMI and the 27 other triple plays in our newest report by starting a Bespoke Institutional trial today.
Bespoke Investment Group, LLC believes all information contained in these reports to be accurate, but we do not guarantee its accuracy. None of the information in these reports or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. This is not personalized advice. Investors should do their own research and/or work with an investment professional when making portfolio decisions. As always, past performance of any investment is not a guarantee of future results. Bespoke representatives or clients may have positions in securities discussed or mentioned in its published content.
Chart of the Day: Dow Shake Up
Earnings Rundown: 2/21/24
Bespoke’s Morning Lineup — 2/21/24
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.
“Individuals who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Interestingly, yesterday was the fifth year in a row that the S&P fell on the day after President’s Day, and as shown below, the next month on the calendar has generally been one of the weaker periods of the year:
Sign up for a two-week trial to Bespoke Premium to continue reading more of today’s macro analysis.
The Closer – Hike Pricing, ADR Mega Caps, Canada CPI – 2/20/24
Log-in here if you’re a member with access to the Closer.
Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin with a rundown of tonight’s earnings and the shift in pricing of rates (page 1). We then provide a look into the performance of international mega-caps (page 2). Afterward, we dive into CPI data North of the border (page 3). We finish with a preview of this week’s Treasury auctions (page 4) and the latest positioning data (pages 5-7).
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 — 2/20/24
Par for the Course After Presidents’ Day
As we noted in today’s Morning Lineup, international equites were generally lower yesterday while US markets were shuttered in observance of President’s Day. The US is continuing the negative tone today with the S&P 500 down roughly 50 bps as of this writing. Of course, seasonality is never the sole reason for ups and downs of the market, but we would note that today’s weakness is basically par for the course coming back from Monday’s holiday. In the charts below, we show the average daily change and percentage of time with a move higher for the S&P 500 during the week of Presidents’ Day since 1970 when the stock market began to observe the holiday on the third Monday of February.
As shown, historically the S&P 500 has averaged an 18 bps decline the first day back from President’s Day with positive performance less than half the time. Furthermore, assuming the declines hold through the close, today would mark the fifth year in a row that the S&P 500 fell on the Tuesday after President’s Day. Wednesdays and Thursdays of the week of Presidents’ Day have historically seen even more consistently negative price action albeit the average declines are much smaller at 2 bps and 3 bps, respectively. Finally, Friday tends to see a rebound with an average gain of 17 bps and positive performance 57% of the time.
