Wed.- Stock Upgrade Of The Day-! Foot Locker upgraded to Outperform from Neutral at Credit Suisse 06:15 FL, NKE Credit Suisse analyst Michael Binetti upgraded Foot Locker (FL) to Outperform from Neutral with a price target of $62, up from $38. The analyst thinks sentiment on the stock remains "overly bearish" and focused on the negative thesis of Nike (NKE) pulling back from Foot Locker. Credit Suisse, however, sees consistent evidence that the Nike relationship is improving, and is increasingly convinced that the planned pullback from Foot Locker will be far less damaging than initially expected. Since new CEO Mary Dillon started, the company has seen "consistent signals that the relationship has entered a more collaborative phase," writes the analyst.
My Draganfly is moving. Had a great day yesterday! Draganfly price target raised to $3.50 from $2 at H.C. Wainwright 06:09 DPRO
New Fortress Energy initiated with a Buy at BofA 06:05 NFE BofA analy Nio delivers 8,506 vehicles in January
Earn Report Of The Day- DOX Amdocs reports Q1 EPS $1.45, two estimates $1.21 17:12 DOX Reports Q1 revenue $1.19B, two estimates $1.08B. "Fiscal year 2023 is off to a strong start as we continued to support our customers on their journey to modernize for the 5G and cloud era. First quarter revenue was a record $1.19 billion, up 9.5% from a year ago in constant currency and driven by continued strength in North America and healthy activity in Europe. Sales momentum was also robust and included a notable new project award to support the 5G fixed wireless access strategy of a leading North American Tier 1 operator. Additionally, Amdocs was selected by Globe Telecom in the Philippines to provide a next-generation 5G charging platform for consumer and business customers. Overall, we ended Q1 with record-high 12-month backlog of $4.09 billion, up roughly 7% from a year ago", said Shuky Sheffer, CEO. Amdocs sees Q2 EPS $1.44-$1.50, two estimates $1.32 17:14 DOX Sees Q2 revenue $1.20B-$1.24B, two estimates $1.1B
Macau reports January casino revenue up 82.5% to 11.58B patacas 06:54 LVS, MGM, WYNN, MLCO Macau's gaming… Nio (NYSE:NIO) has announced January deliveries of 8,506 vehicles, down ~12% Y/Y. The deliveries consisted of 2,190 premium smart electric SUVs, and 6,316 premium smart electric sedans. Cumulative deliveries of Nio vehicles reached 298,062 asof January 31, 2023. In Dec 2022, the EV maker announced record monthly delivery of 15,815 vehicles that grew 50.8% Y/Y. From January 13, 2023 to January 31, 2023, the peak travel season around the Chinese New Year Holiday, NIO provided over 1M power swaps to its users, among which over 300 thousand swaps were completed at the NIO power swap stations along the highways, and over 11 thousand swaps were flexible battery upgrades to enhance the long-distance travel experience. Shares of the EV maker gained~2%premarket Peers, Li Auto (LI) and XPeng (XPEV) reported January deliveries of15,141and5,218vehicles, respectively. Came in between LI & XPEV- Bigger Picture- The Virus is officially over in China. From a small village comes word... "nobody is wearing a mask anymore- That's over."- NY Times
JAN INDICATOR WRAP UP- " Who Cares About January? We do: " The S&P 500’s rally Tuesday to end the month 6.2% higher means that stocks hit the so-called “January Indicator Trifecta” this year. That gives the blue-chip index (SP500)(NYSEARCA:SPY) close to if not a 100% historical probability of rising strongly for 2023 as a whole, according to Jeff Hirsch of the Stock Trader’s Almanac. “It’s super-bullish,” said Hirsch, whose publication developed the January Indicator Trifecta in 2013 and back-tested it to 1950. Stock Trader’s Almanac found that the S&P 500 has risen for the year as a whole 90.3% of the time over the past seven decades-plus whenever the index enjoys: A so-called “Santa Claus Rally,” defined as rallying during the last five sessions of the old year and first two sessions of the new one. This year, the blue chips gained 0.8% during that period. Higher prices over a new year’s first five trading sessions. The S&P 500 added 1.4% during 2023’s first five sessions, fulfilling the January Indicator Trifecta’s second criterion. A rally during January as a whole. SPY’s 1.5% gain on Tuesday completed the January Indicator Trifecta’s final leg, with the blue chips gaining just over 6% for the year’s first month. Hirsch told Seeking Alpha that the S&P 500 (SP500)(SPY) has risen in 28 of the 31 years when the index hit the January Indicator Trifecta since 1950, gaining 17.5% per 12-month period on average. A 100% Bull Indicator After Bear Years Even more significantly, he said the S&P 500 (SP500)(SPY) has a 100% record of rallying in the 13 times since 1950 when stocks passed the January Indicator Trifecta following a bear-market year, as 2022 was. The S&P 500 (SP500)(SPY) rallied 22% on average in those years. “There’s not one year where a rally hasn’t happened when stocks hit the January Trifecta after a bear market,” the Stock Trader’s Almanac editor said. “In fact, my biggest fear these days is that I’m not bullish enough.” 'You Should Be Bullish This Year' Hirsch said this year’s positive January Indicator Trifecta boosts his conviction in the Stock Trader’s Almanac’s official forecast, which the publication issued last month. The outlook calls for stocks to see a choppy start to 2023 until the Federal Reserve pauses rate hikes, which Hirsch expects to happen in Q1. Thereafter, the Stock Trader’s Almanac expects the bull market that historically comes in the year before a presidential election to kick in. All told, Hirsch believes the S&P 500 will rise 15%-20% for 2023 as a whole. His advice for equity investors is that “you should be bullish for this year. The market is probably going to go up significantly higher, so look for good opportunities in the broad market and in individual sectors and stocks.” HAPPY HUNTING-
Today feels just like yesterday DOW Futures down over 100 but we could open slightly up. At some point we were making wild recommendations for 2023 stocks... and both Van and I were high on C3. Turns out we were right. I hate myself though because I deemed C3 too obvious and went around buying a bunch of other AI stocks except the obvious one.! Duh! Technology Barron's Take C3.ai Stock Is Soaring. It’s Launching AI Software Tools. C3.ai AI +21.78% stock is soaring Tuesday after the company announced the launch of a set of tools for generative artificial intelligence applications, jumping into the middle of what might be the hottest trend in the technology segment.
Digital Turbine downgraded to Neutral from Buy at B. Riley 07:16 APPS -- Could have ramifications on TTD (SNAP too)<---- van