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Dow Jones Falls As China Trade War Trumps Fed Chief Powell; Target, Home Depot, Salesforce Rise On Earnings: Weekly Review

The Dow Jones suffered a fourth straight weekly loss as Beijing issued retaliatory tariffs Friday and President Donald Trump vowed to escalate the China trade war further. That offset Fed chief Jerome Powell, who signaled support for another rate cut despite a divided central bank. Target (TGT) skyrocketed on earnings, while Home Depot (HD), Salesforce (CRM) and Medtronic (MDT) also rallied.XDow Jones Falls On China Trade WarThe Dow Jones and other major averages were on track for modest weekly gains until China announced retaliatory tariffs Friday and President Trump vowed to respond. That offset a fairly dovish speech by Fed chief Jerome Powell. The Dow Jones and other index closed with yet another weekly loss. Target (TGT) blasted to a new high on strong earnings. Salesforce (CRM) and Medtronic (MDT) also popped on results. So did Dow Jones component Home Depot (HD), despite mixed results and weak guidance. Treasury yields tumbled on the escalating China trade war after the yield curve inverted briefly a couple more times.Fed Chief Powell Cites 'Global Slowdown'Fed chief Jerome Powell highlighted "further evidence of a global slowdown" and intensified trade frictions in his much-anticipated Jackson Hole, Wyo., speech. Powell didn't explicitly call for further rate cuts, leaving some question about the policy outlook after several Fed committee members said they back standing pat. Yet China's escalation of tariffs on U.S. imports shortly before Powell's speech and Trump's retaliation vow took some pressure off the Fed chairman to sway a divided central bank.Powell left little doubt where he stands, though. His speech focused on fundamentals that all raise concerns: "slowing global growth, trade policy uncertainty, and muted inflation." While only the first two have worsened in recent weeks, the third, muted inflation, raises "concerns about a more prolonged shortfall." Powell summed up with this assessment that argues for proactive policy: "We face heightened risks of lengthy, difficult-to-escape periods in which our policy interest rate is pinned near zero."Target Earnings Jump On TransformationTarget surged 23%, flying above the buy zone after the discount giant reported its best earnings growth in years, soundly beating views, as its transformation strategy begins to bear fruit. Target also raised its guidance above consensus views. The retail giant has been remaking its business to compete better against Amazon (AMZN) and Walmart (WMT). Initiatives include private brands, remodels, small-format stores, digital sales, delivery via Shipt, supply chain upgrades, the Circle loyalty program, Target+ marketplace and self-checkout.Home Depot Breaks OutHome Depot (HD) beat earnings views but missed on revenue and same-store sales. The home improvement retailer also trimmed its full-year revenue guidance due to lumber price deflation and recently announced Trump tariffs on China. But the stock still rallied and surged further, hitting buy range after rival Lowe's (LOW) topped estimates for earnings, revenue and comp sales. Lowe's shares soared. Home Depot fell back below a buy point Friday.Software Earnings, DealsVMware (VMW) reported in-line Q2 earnings while guidance met expectations. VMware also agreed to buy cybersecurity firm Carbon Black (CBLK) in a deal valued at $2.1 billion, while also purchasing sister company Pivotal Software (PVTL). Dell Technologies (DELL) holds a majority stake in VMware and also controls struggling Pivotal. Carbon Black specializes in endpoint security — detecting malware on mobile devices that access corporate networks. VMware and Dell shares fell Friday on the deals. Pivotal and Carbon Black rose.Salesforce.com (CRM) earnings and revenue topped estimates while October quarter revenue guidance came in above expectations. Shares of the cloud-based business software pioneer rose 2% Friday.Splunk (SPLK) topped Q2 earnings and sales forecasts with the data analytics and security software maker also guiding higher on Q3 revenue. Splunk also agreed to buy cloud monitoring company SignalFx for $1.05 billion, its largest acquisition ever. Splunk stock tumbled.Intuit (INTU) lost an adjusted 9 cents a share on sales of $994 million. Analysts expected the financial software firm to lose 14 cents a share on sales of $961 million in the seasonally adjusted fiscal Q4. Intuit guided lower for the current Q1. Shares climbed 1%.Synopsys (SNPS) earnings rose 24% as sales grew 9% to $853 million in its fiscal Q3. The chip-design software maker guided higher.Medtronic Tops, Raises GuidanceOn Tuesday, Medtronic (MDT) jumped to a record high after the medical products giant reported fiscal first quarter adjusted earnings per share up 8% as sales edged up 1.5% to $7.49 billion, both above estimates. In constant currency, sales increased 3.5%. Medtronic also raised its full-year EPS outlook by a dime at the midpoint.Chinese E-commerce Plays Top ViewsThree China internet companies reported better-than-expected second-quarter earnings. E-commerce software maker Baozun (BZUN) reported earnings rose 47% and revenue 48%, but shares fell. E-commerce site Pinduoduo (PDD) lost an adjusted 4 cents as revenue spiked $1.06 billion, easily beating views. PDD stock soared. 58.com (WUBA), known as the Craigslist of China, more than doubled earnings expectations. But shares fell amid cautious guidance.Shares of Weibo (WB), called the Twitter of China, jumped 14% as earnings beat estimates. China internet portal provider Sina (SINA), which owns a majority stake in Weibo, also beat estimates. Its shares soared 15%.Baidu (BIDU) reported better-than-expected earnings for its second quarter, causing the Chinese online search giant to jump 14%.Estee Lauder Jumps On Earnings, GuidanceEarnings per share rose 5% as sales grew 9% to $3.59 billion, both slowing. But analysts had expected earnings to fall on flattish sales of $3.527 billion. For the new fiscal year, Estee Lauder (EL) guided higher on earnings and sales. Shares of the cosmetics maker jumped.TJX, Ross Stores Offer Cautious GuidanceTJX Cos. (TJX) posted in-line EPS of 62 cents, up 5%, but missed with sales of $9.78 billion, also up 5%. The off-price retailer's Q3 earnings outlook also fell below views, though it backed full-year guidance. Rival Ross Stores (ROST) narrowly topped Q2 views but guided low for Q3 and Q4. TJX stock fell initially, then rallied later in the week to recover the 50-day line. Ross Stores fell 4% Friday, undercutting the 50-day line but holding in a buy zone.Keysight Soars On 40% EPS GainKeysight Technologies (KEYS) posted a 40% EPS jump as revenue climbed 8% to $1.087 billion. The IBD 50 stock soared 13% on Thursday, blasting above a 94.62 flat-base buy point. But shares fell 7% Friday, back below the entryon China trade war fears. The company makes testing gear for 5G wireless networks and devices.Sporting Goods Retailers: 1 Win, 2 LossesAthletic shoe seller Foot Locker (FL) and equipment retailer Hibbett Sports (HIBB) posted weak second-quarter results, though Hibbett raised guidance on full-year profit and same-store sales. Foot Locker and Hibbett shares plunged Friday. Dick's Sporting Goods (DKS) fell Friday, erasing Thursday's gains after beating Q2 earnings views, crushing on comp sales, and raising full-year guidance.News In BriefElanco Animal Health (ELAN) agreed to buy Bayer's animal health business for $7.6 billion. Elanco stock tumbled 10% to a record low.Sarepta Therapeutics (SRPT) crashed 15% Tuesday after the FDA rejected the biotech's application for a Duchenne muscular dystrophy treatment called golodirsen.Analog Devices (ADI) beat Wall Street's targets for its fiscal third quarter but missed views with its outlook. The chipmaker posted its third straight quarter of declining sales and earnings as it navigates the chip downcycle. Shares fell sharply.Boeing (BA) soared on a report that the Dow Jones aerospace giant plans to quickly ramp up 737 Max production back to 52 a month in early 2020. That assumes that the Boeing 737 Max is cleared for flights again.YOU MIGHT ALSO LIKE:Medicare For All' Is A Pipe Dream, But It Matters For Health Care Stocks6 Billion-Dollar Companies Are Now Penny Stocks; Hope You Sold5G Momentum 'Like A Freight Train' As Apple, AT&T, Samsung Climb AboardProfit From Short-Term Trends With SwingTraderMore Top Growth Stocks Are Emerging From These 2 Key Economies The post Dow Jones Falls As China Trade War Trumps Fed Chief Powell; Target, Home Depot, Salesforce Rise On Earnings: Weekly Review appeared first on Investor's Business Daily.
Weiter zum vollständigen Artikel bei "Investors Business Daily"
Quelle: Investors Business Daily

Nachrichten zu Salesforce

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Um Ihnen die Übersicht über die große Anzahl an Nachrichten, die jeden Tag für ein Unternehmen erscheinen, etwas zu erleichtern, haben wir den Nachrichtenfeed in folgende Kategorien aufgeteilt:

Relevant: Nachrichten von ausgesuchten Quellen, die sich im Speziellen mit diesem Unternehmen befassen

Alle: Alle Nachrichten, die dieses Unternehmen betreffen. Z.B. auch Marktberichte die außerdem auch andere Unternehmen betreffen

vom Unternehmen: Nachrichten und Adhoc-Meldungen, die vom Unternehmen selbst veröffentlicht werden

Peer Group: Nachrichten von Unternehmen, die zur Peer Group gehören

Analysen zu Salesforce

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23.08.2019Salesforce OutperformRBC Capital Markets
23.08.2019Salesforce overweightJP Morgan Chase & Co.
23.08.2019Salesforce OutperformCredit Suisse Group
23.08.2019Salesforce BuyMonness, Crespi, Hardt & Co.
23.08.2019Salesforce OutperformBMO Capital Markets
23.08.2019Salesforce OutperformRBC Capital Markets
23.08.2019Salesforce overweightJP Morgan Chase & Co.
23.08.2019Salesforce OutperformCredit Suisse Group
23.08.2019Salesforce BuyMonness, Crespi, Hardt & Co.
23.08.2019Salesforce OutperformBMO Capital Markets
05.06.2019Salesforce market-performBernstein Research
05.03.2019Salesforce neutralBernstein Research
28.11.2018Salesforce market-performBernstein Research
04.09.2018Salesforce HoldPivotal Research Group
30.05.2018Salesforce market-performBernstein Research
19.05.2016Salesforce UnderperformBernstein Research
19.11.2015Salesforce UnderperformBernstein Research
19.11.2015Salesforce verkaufenJefferies & Company Inc.
22.11.2012Salesforcecom underperformSanford C. Bernstein and Co., Inc.
05.01.2012Salesforcecom underperformSanford C. Bernstein and Co., Inc.

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für Salesforce nach folgenden Kriterien zu filtern.

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Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"

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