Friday 6/21/19=DJIA -34 NASDAQ -20
There was some weakness amongst leading stocks in the market today. Cross currents over the Chinese trade talks caused a lot volatility throughout the day. At the end of the day, it would seem that a lot of traders took money off of the table before the weekend. It was a very good week overall in the market, however.
I had a new article published on Seeking Alpha today about one of my favorite growth stocks.
I sent out tweets on the following stocks today: KMX, KURA, OPRA, FNKO, EXEL, V, and ILMN.
The market looked ready for some profit taking as the market got ready to open.
Futures edge lower after record session
• U.S. stock index futures wavered overnight, currently down around 0.2%, after a major session for Wall Street yesterday that saw the S&P 500 surge almost 1% to its first record close since April.
• Iran is as good excuse as any for the slight pullback this morning, with reports suggesting President Trump ordered, and then rescinded, an airstrike on military installations in the Islamic Republic.
• Oil prices are adding to yesterday’s massive 6% jump as WTI prices top $57 a barrel, while gold dips 0.4% after spiking above $1,400 per ounce to prices not seen in nearly six years.
Japan’s economy continues to weaken.
Japan’s weak manufacturing data drag Asia lower
• Japan -1.02%.
• Hong Kong -0.27%.
• China +0.50%.
• India -1.06%.
• London +0.09%.
• Paris +0.42%.
• Frankfurt +0.40%.
EPS Report of the day.
CarMax EPS beats by $0.10, beats on revenue
• CarMax (NYSE:KMX): Q1 GAAP EPS of $1.59 beats by $0.10.
• Revenue of $5.37B (+12.1% Y/Y) beats by $200M.
• Shares +4.22% PM.
A beyond burrito.
Del Taco and Beyond Meat in burrito pact
• Del Taco Restaurants (TACO +3.9%) says it will expand its partnership with Beyond Meat (BYND -2.8%) after positive response to the menu addition.
• The chain plans to offer Beyond Meat’s 100% plant-based protein option in two new signature protein-packed burritos, the Beyond 8 Layer Burrito and the Epic Beyond Cali Burrito, at its more than 580 locations across the U.S.
• Del Taco has sold nearly 2M Beyond Tacos and Beyond Avocado Tacos, with close to 100,000 hand-sliced avocados used for the Beyond Avocado Taco alone.
I like Funko too. I am long in my Emerging Growth Portfolio.
D.A. Davidson joins Funko bull camp
• D.A Davidson starts off coverage on Funko (NASDAQ:FNKO) with a Buy rating.
• The firm sets a price target of $29 on the pop culture pure play to rep 20% upside potential. The average price target from sell-side analysts on Funko is $25.88.
• Funko is gearing up to make a splash at Comic-Con next month.