The Ultimate UGLY Bull and Bear Sweater
If you need the absolute ugliest of ugly sweaters to wear for the holidays, we’ve got you covered. Behold our “Bull and Bear” Ultimate Ugly Sweater below. Click here or on the image to order one today and make certain to have the ugliest sweater at the table!
Bespoke’s Global Macro Dashboard — 11/27/24
Bespoke’s Global Macro Dashboard is a high-level summary of 22 major economies from around the world. For each country, we provide charts of local equity market prices, relative performance versus global equities, price to earnings ratios, dividend yields, economic growth, unemployment, retail sales and industrial production growth, inflation, money supply, spot FX performance versus the dollar, policy rate, and ten year local government bond yield interest rates. The report is intended as a tool for both reference and idea generation. It’s clients’ first stop for basic background info on how a given economy is performing, and what issues are driving the narrative for that economy. The dashboard helps you get up to speed on and keep track of the basics for the most important economies around the world, informing starting points for further research and risk management. It’s published the last Wednesday of every month at the Bespoke Institutional membership level.
You can access our Global Macro Dashboard by starting a 14-day free trial to Bespoke Institutional now!
Chart of the Day – Radware (RDWR)
Q3 2024 Earnings Conference Call Recaps: Snowflake (SNOW)
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 Snowflake’s (SNOW) Q3 2025 earnings call.
Snowflake (SNOW) is a cloud data platform that enables organizations to store, manage, and seamlessly analyze large volumes of structured and unstructured data. Known for its ease of use, SNOW supports advanced data architectures like data warehouses, lakehouses, and data meshes while simplifying data engineering tasks. The company’s products and services are of widespread use in the technology, healthcare, finance, and entertainment sectors, helping customers like Disney, Hyatt, and NBC Universal. Its partnerships with hyperscalers like AWS and Azure have also solidified its reputation as a leader in data. Product revenue grew 29% YoY this quarter as AI drove momentum, with over 1,000 AI/ML use cases and 3,200 accounts leveraging Snowflake Cortex AI. Apache Iceberg was another highlight, an open-source table format designed for managing large-scale datasets in data lakes. Management also pointed to customers saving 50% on costs by migrating to Snowflake. On the strong earnings results, SNOW shares surged 32.7% on 11/21. The stock is still down almost 30% from 52-week highs in February…
Continue reading our Conference Call Recap for SNOW 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:
Bespoke’s Morning Lineup – 11/27/24 – Cramming a Lot into One Day
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.
“Knowledge speaks, but wisdom listens” – Jimi Hendrix
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Heading into the last trading day before Thanksgiving, equity futures are modestly lower while crude oil sees a modest rally (still below $70), and the 10-year yield is down close to 5 bps trading near 4.25%. After a sharp pullback from record highs in the first half of November, gold prices have caught a bid in the last week, and prices are pushing back close to $2,700 per ounce after dropping as low as $2.540 on the 14th. Bitcoin prices have also pulled back since their all-time high of just below $100,000 last week, and after dropping below $91K yesterday, the price is rallying over 2% today and back above $93K.
With today being the last full trading day of the month, a ton of economic data is getting packed into the day (good luck trying to keep up), so where the market stands at 4 PM today will likely differ a lot from where it is now.
After an initial post-election surge that took the S&P 500 barely above 6,000, stocks took a bit of a breather mid-month as the S&P 500 closed lower than it opened for five straight days pulling back just over 2%. The second half of November has put the market back on track, though, with the S&P 500 now riding a seven-day winning streak into the last trading day before Thanksgiving.
Going back to 2000, the current run for the S&P 500 is the 26th time the index has been up at least seven trading days in a row. Of the prior 25 streaks, only eight stretched to an eighth day, and the longest was nine trading days in November 2004. What makes the current run somewhat unique is that it is the fourth time in the last five months that the S&P 500 put together a streak of at least seven positive days in a row. The only other year since 2000 that saw even four seven-day winning streaks in an entire calendar year was 2013.
The Closer – Minutes, 5y Sale, Consumers Bullish, 5 Fed, French Yields, Housing – 11/26/24
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 review the minutes from the FOMC’s November meeting (page 1). We also review a strong 5y note auction (page 1), improving consumer confidence including a record reading on bullishness towards the stock market (page 1 and 2), the latest manufacturing sentiment data (page 2), outperformance of low dollar price stocks (page 3), surging French government bond risk premiums (page 3 and 4), Case-Shiller home prices (page 5), and new home sales activity (page 5).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Thankful Investors — Last 20 Years
It’s a holiday-shortened Thanksgiving week, so over the next few days, we plan on writing about some of the stocks that investors can be most thankful for. Yesterday we looked at the best performing stocks over the last five years, and in this post, we’re highlighting the 30 best-performing stocks in the S&P 1500 on a total return basis over the last twenty years. In the table below we rank them from 1st to 30th and show how much a $1,000 investment in each stock twenty years ago (on 11/25/04) would be worth today. Below the table, we provide a one-sentence blurb generated by AI that describes what each company does.
AI chip maker NVIDIA (NVDA) has easily been the best-performing stock over the last twenty years, and it has made a large number of investors extremely wealthy. Incredibly, a $1,000 investment in NVDA twenty years ago would have almost turned you into a millionaire today! Unbelievably, $1,000 in NVDA back on 11/25/04 would be worth roughly $944k today. (By the same math, $10k would be worth $9.44 million, while $100k would be worth $94.4 million.)
Twenty-year returns for streaming giant Netflix (NFLX) haven’t been too shabby either. $1,000 in NFLX twenty years ago would be worth more than $550k today. Rounding out the top five are Texas Pacific Land (TPL), Apple (AAPL), and Booking Holdings (BKNG).
In total, eight stocks have turned $1,000 into more than $100k over the last twenty years. This includes the aforementioned NVDA, NFLX, TPL, AAPL, and BKNG along with Monster Beverage (MNST), Intuitive Surgical (ISRG), and Amazon.com (AMZN).
Other notables on the list include Deckers Outdoor (DECK), Salesforce (CRM), Domino’s Pizza (DPZ), and United Rentals (URI).
For anyone out there who has been riding any of these big winners for the last twenty years, bravo to you, and Happy Thanksgiving!
For a quick description of each company listed above, we asked AI to give us its best one-sentence blurb:
- NVIDIA (NVDA): A leader in graphics processing units (GPUs) for gaming, artificial intelligence, and data centers, driving innovation in computing and visual technologies.
- Netflix (NFLX): A global streaming service offering a vast library of movies, TV shows, and original content, accessible on-demand across various devices.
- Texas Pacific Land (TPL): Manages oil and gas royalties, land leases, and water services for energy production in Texas.
- Apple (AAPL): Designs and sells consumer electronics like the iPhone, Mac, and iPad, along with software and services like the App Store and iCloud.
- Booking Holdings (BKNG): Operates online travel brands like Booking.com, Priceline, and Agoda, providing services for hotel reservations, car rentals, and flights.
- Monster Beverage (MNST): Produces energy drinks, including the flagship Monster Energy brand, targeting consumers looking for enhanced energy and focus.
- Intuitive Surgical (ISRG): Manufactures robotic-assisted surgical systems, including the da Vinci system, enhancing precision and minimally invasive procedures.
- Amazon.com (AMZN): A global e-commerce leader offering retail, cloud computing, and digital streaming services, alongside innovations like Amazon Web Services (AWS).
- XPO (XPO): Provides freight transportation and logistics services, specializing in less-than-truckload (LTL) and last-mile delivery solutions.
- UFP Technologies (UFPT): Designs and manufactures custom packaging, components, and engineered products for medical, automotive, and industrial applications.
- Regeneron Pharmaceuticals (REGN): Develops biopharmaceuticals to treat serious medical conditions, including eye diseases, cancer, and autoimmune disorders.
- Comfort Systems USA (FIX): Provides mechanical systems installation and services, specializing in HVAC and building systems for commercial clients.
- RadNet (RDNT): Operates outpatient diagnostic imaging centers offering MRI, CT scans, and other radiology services across the U.S.
- NeoGenomics (NEO): A cancer diagnostics company providing genetic and molecular testing for oncologists, pathologists, and researchers.
- Deckers Outdoor Corporation (DECK): Markets lifestyle footwear and apparel under brands like UGG, Teva, and HOKA ONE ONE, known for comfort and performance.
- AAON (AAON): Manufactures heating, ventilation, and air conditioning (HVAC) equipment, focusing on energy efficiency and innovative designs.
- Salesforce (CRM): A cloud-based customer relationship management (CRM) platform that enables businesses to manage sales, service, and marketing operations.
- Tyler Technologies (TYL): Provides software and technology services for local governments, focusing on public safety, tax, and financial management.
- Old Dominion Freight Line (ODFL): A leading less-than-truckload (LTL) carrier offering efficient freight transportation across North America.
- Fair Isaac Corporation (FICO): Best known for its FICO credit scoring system, it provides analytics and decision-making software for risk management.
- Monolithic Power Systems (MPWR): Designs power management solutions for electronics in industrial, automotive, and consumer markets.
- Repligen (RGEN): Develops bioprocessing technologies and materials used in the production of biologic drugs and gene therapies.
- O’Reilly Automotive (ORLY): A retailer and distributor of automotive parts, tools, and equipment, serving professional and DIY customers.
- Domino’s Pizza (DPZ): A global leader in pizza delivery and carryout services, leveraging technology for fast and convenient ordering.
- EMCOR Group (EME): Provides construction and facilities services, specializing in mechanical and electrical systems installation and maintenance.
- Lennox International (LII): Produces HVAC and refrigeration equipment for residential and commercial applications.
- United Rentals (URI): The largest equipment rental company in the world, offering construction, industrial, and specialty equipment.
- Manhattan Associates (MANH): Provides supply chain and omnichannel commerce solutions to help retailers and wholesalers optimize operations.
- Quanta Services (PWR): Delivers infrastructure services for energy and communications, including electric power and pipeline construction.
- Copart (CPRT): An online vehicle auction company specializing in salvaged and used cars, serving insurance companies, dealerships, and buyers worldwide.
As always, past performance is no guarantee of future results.
Like Bespoke’s content? We think you’ll love our premium equity market research. Below are two Bespoke membership options to choose from. Start a two-week trial to one of them today!
B.I.G. Tips – Earnings Triple Plays Recap: Q3 2024
During the just-completed Q3 2024 earnings reporting period, there were a total of 142 earnings triple plays out of just under 2,000 individual quarterly earnings reports from US-listed stocks. That’s 16 more than the 126 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!
Chart of the Day – Most Correlated 12 Month Periods
Six and Six
Both the S&P 500 and Russell 2000 came into the day riding 6-day winning streaks, and based on where both indices are trading at mid-day, the S&P 500 looks poised to extend that streak while the streak looks like it’s going to end for small caps. The current six-day streak for the two indices is the first time that both indices have simultaneously been up six days in a row since February 2021. Since 2000, there have only been 16 other streaks, so while they aren’t particularly rare, they aren’t too common either.
In the charts below of the S&P 500 and the Russell 2000, the red dots show each time the two indices were up six days in a row at the same time. Looking at the various occurrences, there were several from 2013 to 2014 and then from late 2016 through 2017, and in most cases, they occurred within longer-term uptrends. The only notable exception was in June 2007.
Like Bespoke’s content? We think you’ll love our premium equity market research. Below are two Bespoke membership options to choose from. Start a two-week trial to one of them today!