GOOD MORNING STOCK FANS DID WE HAVE A MONDAY DANCE PARTY OR WHAT! LEGENDARY! I HAVE A PIC I AM NOT ALLOWED TO USE OF A TOP 10 HEDGE FUND WITH EVERYONE IN THE ROOM DANCING TO TO THE ELITE TRADER DANCE PARTY!!!! Marqeta announces partnership with Raiffeisen Centrobank 05:19 MQ Marqeta announced a partnership with Raiffeisen Centrobank to power the new brand Raiffeisen Digital Bank, enabling customers in Poland and Romania to leverage a modern banking experience with streamlined digital accounts and debit cards. Building from Marqeta's global modern card issuing platform, Raiffeisen Centrobank developers will be able to benefit from Marqeta's speed and scale to build a new digital banking service on a fast-tracked timeline and accelerate roll out of the product in various European markets. Raiffeisen Centrobank will be able to benefit from Marqeta's transparent approach to integration and comprehensive open APIs, with plans to create an end-product with modern design and delivery. Customers of the new brand Raiffeisen Digital Bank will be able to access their accounts through mobile devices, have access to contactless phone and card payments and easily keep track of transactions.
CHINA-BOUNCE-BACK- OH Xi no like what happened yesterday to countries stocks-! A day after they were thrashed on concerns over President Xi Jinping's third-term as leader, many of China's largest tech stocks, including Alibaba (NYSE:BABA), JD.com (NASDAQ:JD) and others, rose after the People's Bank of China said it would study new policies to support the weakening economy. Without making firm commitments, the People's Bank of China said it would safeguard the development of its domestic stock, bond and housing markets, while also looking at new policy measures to help sectors that have been hit by COVID-19.
A Stock Pickers Market?-- Investors pile into single stocks, with tech a big beneficiary - BofA Oct. 25, 2022 7:27 AM Inflows into single stocks are at historic highs, with BofA clients being net buyers of stocks for the third-straight week, strategists said Tuesday. Hedge funds were the main buyers, while retail investors bought for the fourth-straight week, but institutional clients (and Jim Cramer) sold, "Over the last three weeks, inflows into single stocks (as a % of S&P 500 (SP500) (NYSEARCA:SPY) mkt. cap) were in the 99th percentile of history since '08 and two standard deviations above average, and still in the 92nd percentile excluding corp. client buybacks," they said. "Prior times 3-wk. single stock flows as a % of mkt. cap were this extreme were followed by above-avg S&P 500 returns over the subsequent 1/3/6/12 months (i.e. wasn’t a contrary indicator)," Hall and Subramanian added. "But as a caveat, most prior instances of extreme (+2 st. dev.) inflows following the Global Financial Crisis typically were preceded by extreme (-1 st. dev.) outflows in the several months prior - not the case this time. Cumulative $ inflows YTD have also been the most positive in our data history." Seven of 11 S&P sectors saw inflows, with Info Tech (XLK) in the lead. The sector has seen five-straight weeks of inflows. Healthcare (XLV) and Communication Services (XLC) also saw healthy inflows. Energy (XLE) and Financials (XLF) had the biggest outflows.
ADM Smashes Number---- Archer-Daniels-Midland Non-GAAP EPS of $1.86 beats by $0.45, revenue of $24.68B beats by $2.47B Oct. 25, 2022 7:04 AM ETArcher-Daniels-Midland Company (ADM) Archer-Daniels-Midlandpress release(NYSE:ADM): Q3 Non-GAAP EPS of $1.86beats by $0.45. Revenue of $24.68B (+21.3% Y/Y)beats by $2.47B. Trailing four-quarter average adjusted ROIC of 13%. CEO comment: “Today’s ADM is a resilient company, with a broad global footprint and anarray of innovative capabilities that are driving performance for customers, consumers and shareholders. And with strong cash flows, we’re advancing productivity initiatives to enhance cost efficiencies and returns; driving innovation efforts to build new capabilities and growth engines across all of our businesses; and continuing to return capital to our shareholders. We’re well positioned to end 2022 strong, and carry that momentum into 2023.”
SHERWIN WILLIAMS SMASHES NUMBER--- Sherwin Williams Non-GAAP EPS of $2.83 beats by $0.26, revenue of $6.05B beats by $270M Oct. 25, 2022 7:04 AM ETThe Sherwin-Williams Company (SHW) Sherwin Williamspress release(NYSE:SHW): Q3 Non-GAAP EPS of $2.83beats by $0.26. Revenue of $6.05B (+17.5% Y/Y)beats by $270M. Net sales from stores in U.S. and Canada open more than twelve calendar months increased 20.7% in the quarter Shares+1%PM. Q4 Guidance: Revenue of up high single to low double digit vs. 10.17% consensus FY22 Guidance: Revenue of up low double digit from prior outlook of up high-single to low-double digit % vs. 9.74% consensus Re-affirms Non-GAAP EPS of of $8.50 to $8.80 per share vs consensus of $8.59
HUBELL SMASHESNUMBER--- Hubbell Non-GAAP EPS of $3.08 beats by $0.37, revenue of $1.32B beats by $70M, raises FY earning guidance Oct. 25, 2022 7:35 AM ETHubbell Incorporated (HUBB) Hubbell (NYSE:HUBB): Q3 Non-GAAP EPS of $3.08beats by $0.37. Revenue of $1.32B (+22.2% Y/Y)beats by $70M. Guidance:Raise FY22 diluted EPS from prior guidance of $8.25-$8.65 to $9.10-$9.30; raises adjusted diluted EPS from prior guidance of $9.40-$9.80 to $10.25-$10.45 vs consensus of $9.92