Be in the know. 25 key reads for Friday…

  1. The structured products are one of the main reasons for the continuing losses on the onshore markets, according to investors. Many snowball products tracking the CSI Smallcap 500 Index and the CSI 1000 Index have breached preset levels, triggering forced sales of the futures contracts (scmp)
  2. Swiss watchmaker Richemont’s Q4 financial results were higher due to China sales increasing 25% year-over-year versus Europe’s sales decreasing -3%, and sales in the Americas increasing +8%. CFO Burhart Grund stated: “Overall, I would say the Chinese business is rebuilding,” according to Reuters. (chinalastnight)
  3. VF believes that the material impact or reasonably likely material impact on VF is limited to the material impacts on VF’s business operations disclosed in the Original Report which are no longer ongoing at this time. As of the date of this Amendment, VF also believes the impacts of the cyber incident are not material and are not reasonably likely to be material to its financial condition and results of operations. (sec)
  4. A Hot Debt Market Is Slashing Borrowing Costs for Riskier Companies (wsj)
  5. Davos 2024: Special address by Javier Milei, President of Argentina (weforum)
  6. The risk reward is skewed to the upside as MSCI China is trading at extreme valuation and foreign investors’ positioning has dipped below an October 2022 trough, according to James Wang, head of China strategy at UBS Investment Bank. Historically, if investors bought into the MSCI China index at this valuation multiple, they would have generated an average return of 12 per cent in one week, he said.  “With trough valuation multiples, light investor position and potential support from the ‘national team’, we believe risk reward is attractive at this level.” (scmp)
  7. China courts global elite at Davos with largest presence in years (cnbc)
  8. Meet the Hockey Diehards Building NHL-Worthy Rinks in Their Backyards (wsj)
  9. Google CEO says more job cuts are needed in 2024 in order to reach ‘ambitious goals’ (cnbc)
  10. An overlooked area of the stock market could soar 60% in 2024 with valuations signaling a big run ahead, Fundstrat says (businessinsider)
  11. Banks hope for M&A revival despite the geopolitics (ft)
  12. Trump and Biden Both Hate Pharma—Investors Shouldn’t (wsj)
  13. Nelson Peltz Calls for Disney to Target ‘Netflix-Like’ Streaming Margins (wsj)
  14. Citigroup lays off more bosses as CEO Fraser addresses managing directors -sources (reuters)
  15. Private equity predicts deal rebound as sellers capitulate on prices (ft)
  16. 8 Companies That Could Cut Their Dividends (barrons)
  17. Coca-Cola and Other Dividend Kings That Have Raised Their Payouts for 60 Years or More (barrons)
  18. Goolsbee says it’s too soon to determine when Fed will cut interest rates (marketwatch)
  19. Don’t Watch the CPI. Inflation Is Lower, Says Blackstone’s Steve Schwarzman. (barrons)
  20. How Boeing’s Corporate Culture Started To Rot (bloomberg)
  21. China’s Biggest Broker Curbs Short Sales After Stock Rout (bloomberg)
  22. Ford cuts production of F-150 Lightning EV, adds jobs at Bronco and Ranger plant (cnbc)
  23. The $8.8 Trillion Cash Pile That Has Stock-Market Bulls Salivating (wsj)
  24. Americans Are Finally Feeling Better About the Economy (wsj)
  25. Gen Z vs. the Silver Tsunami (businessinsider)

 

Industrials (top 30 weights) Earnings Estimates/Revisions

In the spreadsheet above I have tracked the earnings estimates for the Industrials Sector ETF (XLI) top 30 weighted stocks. I have columns for what the 2024 earnings estimates were on 11/18/2023 and today. The column under the date 1/18/2024 has a letter that represents the movement in 2024 earnings estimates since the most recent print (11/18/2023).

Continue reading “Industrials (top 30 weights) Earnings Estimates/Revisions”