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AutoZone Stock Tanks: Lackluster Third-Quarter Comp Sales

The largest US auto parts retailer by store count, AutoZone (AZO), released its fiscal Q3 2018 earnings today before the market opened.

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Advance Auto Parts’ Sales Fell for the Third Consecutive Quarter

Advance Auto Parts (AAP) released its fiscal Q1 2018 earnings today before the market opened, which covered the 16 weeks up to April 21.

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US Steel Stocks Pop after China Tariff Scare

US steel stocks (XME) U.S. Steel Corporation (X) and AK Steel (AKS) are trading sharply higher today. Nucor (NUE) and Steel Dynamics (STLD) are also in the green.

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Lowe's Makes a Good CEO Hire, Ignore the JC Penney Years

Lowe’s Companies, Inc. (LOW) is hiring J C Penny Company Inc.’s (JCP) CEO Marvin R. Ellison as its President and CEO, effective July 2. Here’s what you need to know.

RECENT RESEARCH

LL ETF std devs
Leveraged loan ETFs are riskier than loan market

ETFs tracking the leveraged loan market may be riskier than the market they track. Risk is a key metric for investors since risk tolerance affects an individual’s investment style and choices.…

LL ETF std devs
Loan ETFs track loan market poorly

Popular leveraged loan ETFs have low correlations with the overall market and returns vary wildly versus the loan market.

Ammonia Margins by Region
Lower US natural gas prices boost domestic profits

Fertilizer manufacturers often compete on costs. As such, it is helpful for analysts and investors to seek out regions where natural gas, a main component of nitrogen-based fertilizers, prices are…

Ammonia Prices and Brent Oil
Brent crude oil moves nitrogenous fertilizer prices

Brent crude oil price is a leading indicator for nitrogenous fertilizer firms’ revenues. When the price of Brent oil rises, it is generally followed by a rise in ammonia prices…

Baker Hughes Rig Count
Enhanced fracking tech drives Schlumberger's pre-tax operating income up 12%

In the energy services industry, technological change can be volatile for earnings and free cash flow. Schlumberger (SLB), one of the industry’s largest players, is depending on their enhanced technology,…

2013.02.04 - Frac Spread
Commodity price movements last week a positive for gas processing MLPs

Last week’s movement in NGL and natural gas prices was a positive for natural gas processors.

Global Share 02.01.2013
Why Asia-Pacific is so important to AAPL, RIMM, and NOK

While we have looked at the average mobile subscribers per 100 in population globally in our article Macro demographics just as important as new product introduction, a more striking statistic…

China PMI
China's PMI falls, but survey size was changed

China’s manufacturing activity is a key driver for shipping companies. The country’s trade volume drives the bulk of the global shipping industry that engages in the transportation of resources such…

Ratings ratio
Loan rally is threatened by increased pace of downgrades

The ratio of rating downgrades to upgrades for leveraged loans increased significantly through the second half of 2012. The leveraged loan market, which consists of corporate loans paying interest rates…

2013.02.04 - EIA Brent Estimate
EIA expects Brent crude to fall next year, but outlook still constructive

A US government agency called the Energy Information Administration (EIA) believes that for 2014 compared to 2013, Brent crude oil prices will fall while WTI prices will rise slightly.

2013.02.04 - Nat Gas Rig Count
Counterintuitive trend punishing natural gas companies

Baker Hughes, an oil services company, reported that rigs targeting natural gas fell from 434 to 428 for the week ending February 1. As seen in the chart below, last…

2013.02.04 - Change in Distributions
Distributions so far are strong signal for MLPs and earnings

MLP distributions announced so far in 2013 show positive growth.

2013.02.04 - US Nat Gas Inventories
Natural gas inventories fell less than expected, bearish indicator for nat gas stocks & ETFs

Smaller than expected reduction in natural gas inventories is bearish indicator for natural gas producers and certain energy ETFs.

2013.02.04 - Corp Bond Yields
Rising rates would be negative for energy companies with funding needs

Higher corporate credit yields means more expensive borrowing rates for companies, therefore higher yields are generally negative for companies, especially those with high funding needs.

2013.02.04 - WTI Prices
Crude oil prices continue advance, positive for energy stocks and ETFs

Crude oil prices are a major driver of the valuation of energy stocks and therefore energy ETFs as higher crude oil prices result in higher revenues and valuation for oil producers.

2013.02.04 - ND Crude Production
Bakken shale boom benefits midstream names in the area

The Bakken shale boom in North Dakota benefits certain midstream companies operating in the area.

Baltic Dry Index
Rental rates for dry bulk shipping continue to fall

Just like Wall Street traders often say price action is a key forward indicator to monitor, the Baltic Dry Index is an important leading indicator for the bulk shipping industry.…

Dry bulk capacity marches north in January 2013

In the shipping industry, excess capacity has a significant impact on the price of transporting goods. When capacity grows more than demand, prices generally fall as shipping companies try to…

HY Vol Feb 1
Record high yield issuance in January may be too much

The high yield market finish with record issuance in January 2013, though how much is too much? Abundant investor liquidity has continued to attract more issuers to the market. Issuers…

LL Flows Feb 1
Loan inflows continue fueling new loans, but prices will be capped

Leveraged loans inflows continued to be very strong for the 33rd consecutive week. The additional funds continue to add to the abundant liquidity in the sector. With the stock market…

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