Author

admin

Browsing

Target reported earnings Wednesday that came in far below Wall Street’s expectations, something the big-box retailer attributed to slower than expected demand.

The company announced profits that fell short of forecasts by 20%, its widest miss in two years. Revenues, meanwhile, came in under expectations for the first time in more than a year.

Target’s stock, as a result, fell more than 21% Wednesday.

The discouraging results came despite a heavily touted campaign to discount thousands of items, as well as a pushed-up holiday sale.

On a call with reporters, Target CEO Brian Cornell blamed the dismal quarter on “lingering softness in discretionary categories,” as well as costs associated with preparing for the short-lived port strike in October.

Target Chief Operating Officer Michael Fiddelke added that it was “disappointing that a deceleration in discretionary demand combined with some cost pressures have caused us to take our guidance back down after raising it last quarter.”

The company lowered its profit and sales goals for the year, though Fiddelke said Target feels confident in its long-term outlook.

Broader stock trading did not immediately react, however, as Wall Street awaits earnings from chipmaker Nvidia, which has helped power the market higher throughout the year. Yet, combined with other indicators like slower holiday hiring, it could be a signal that sales for the all-important final calendar quarter could be softer than hoped.

Target’s report comes a day after rival Walmart reported earnings and revenues that beat expectations.

Yet, even Walmart noted that customers were still holding back in many cases for compelling deals, especially as the cost of food has risen.

“We’re expecting this holiday period to be very consistent with that,” Walmart Chief Financial Officer John David Rainey told CNBC. “They’re focused on price and value.”


This post appeared first on NBC NEWS

Even though the iShares Semiconductor ETF (SMH) and the VanEck Semiconductor ETF (SOXX) have many similarities, there are some big differences in their component weightings and performance. Namely, SMH allows more concentration than SOXX and SMH is holding up better than SOXX. SOXX already broke down on the price chart and SMH is at a critical juncture as its biggest component reports earnings this week.

SOXX) and SMH are the two largest semiconductor ETFs by AUM (assets under management). However, as I learned from this video at nAnalyze, their weighing rules are very different. In particular, SOXX caps the weighting of the top five stocks at 8% each and rebalances. SMH, on the other hand, caps the weight of the top three at 20% each and then rebalances. This higher threshold allows more room for a momentum run. It is little surprise that the top three holdings in SMH are Nvidia (23.66%), Taiwan Semiconductor (13.2%) and Broadcom (7.71%). The top three holding for SOXX are Nvidia (10.12%), Broadcom (8.77%) and Advanced Micro Devices (8%).

The PerfChart below shows the one-month percentage change for ten semiconductor stocks. It is a mixed bag with four up and six down. Nvidia (red bar) is up 1.5%, two are down double digits (AMD and Micron) and only one is up double digits (Marvell). Short-term, it has been a rough ride for the group.

The next chart shows SOXX breaking wedge support and its 200-day SMA with a sharp decline on October 31st. SOXX rebounded back into the wedge with a three-day election bounce and then fell below its late October low. This means the wedge break is in play with the first target zone in the 195 area. A close above 235 would call for a re-evaluation.  The indicator window shows relative performance using the  SOXX/RSP ratio  (SOXX divided by the S&P 500 EW ETF (RSP)). This ratio has been below its 200-day SMA since late August, which means SOXX has been underperforming for around three months.

What is the significance of a rising wedge? A rising wedge is a bearish continuation pattern that marks a counter-trend bounce after a trend-changing decline. SOXX fell around 25% from mid July to early August and then retraced around 61.8% with the rising wedge to 240. Both the pattern and the retracement amount are typical for counter-trend bounces. The wedge break in October reversed the medium-term uptrend and signaled a continuation of the July-August decline. A 25% decline from the wedge high would target a move to the 180 area.

Click here to learn more about TrendInvestorPro and get two bonus reports!

The next chart shows SMH with a rising wedge, but the ETF has yet to break the October low (235) or the 200-day SMA. SMH did break the lower line of the wedge with a decline last week. Also notice that SMH is trading below the level it was trading at before the election. SMH is at a make or break level with Nvidia (NVDA) set to report earnings on Wednesday after the close. SMH stays bullish as long as 235 holds. A break would confirm the wedge and target a move to the 200 area.  

Stay on the right side of the trend with our weekly reports and videos. Our robust top-down approach started with broad market analysis to set the overall tone. We then drill to down to find ETFs and stocks with bullish setups within long-term uptrends.

Highlights from Recent Weekly Reports/Videos:

  • S&P 500 breadth remains strong and Nasdaq 100 breadth remains strong enough, but Nasdaq 100 is lagging because a third of its stocks are in long-term downtrends.
  • Fintech, Cybersecurity, Software and Cloud Computer ETFs were leading before the election surge and became very extended with the election surge. Time for some patience.
  • The Gold ETF became oversold for the first time this year.
  • Copper, Base Metals and Copper Miners failed hold their breakouts as they got hit post election.
  • The 10-yr Treasury Yield is on the rise as TLT moves sharply lower. What is the market telling us?

Click here to learn more and get two bonus reports!

///////////////////////////////////

In this video, Dave outlines three tools he uses on the StockCharts platform to analyze sector rotation, from sector relative strength ratios to the powerful Relative Rotation Graphs (RRG). Dave shares how institutional investors think about sector rotation strategies, evaluating the current evidence to determine how money managers are allocating between offensive and defensive sectors following the US elections.

This video originally premiered on November 19, 2024. Watch on our dedicated David Keller page on StockCharts TV!

Previously recorded videos from Dave are available at this link.

There are times when the price action of a stock is worth analyzing further. This article is a follow-up to last week’s StockCharts Technical Rank (SCTR) Report pick, Palantir Technologies (PLTR). The stock sold off significantly on Monday, and, in the blog post, I mentioned that I would buy PLTR if the stock price pulled back and reversed. I used the 15-day exponential moving average (EMA) as a support level, but was willing to tighten it if necessary.

It just so happened that PLTR sold off on Monday, after which I monitored the stock closely. Monday’s low reached the low of the previous five trading days and bounced from there (blue dashed horizontal line in the chart below). That level aligns with the 10-day EMA. On the daily chart, the last three candlestick bars have relatively large price ranges. The last bar shows more buying pressure. Is PLTR showing signs of moving higher? To answer this question, you need to look at the indicators.

FIGURE 1. DAILY CHART OF PALANTIR STOCK. After hitting a high on November 15, PLTR pulled back to the lows of the last few trading days (blue dashed line). This aligns with the 10-day exponential moving average.Chart source: StockCharts.com. For educational purposes.

The SCTR score remains at a high 99.5, indicating the stock is technically strong. Let’s turn to the other conditions for entering a long position in PLTR.

  • Volume. The total trading volume is insufficient to convince me the upward price move will be sustained.
  • Momentum. The relative strength index (RSI) is weakening, although slightly above 70.
  • Overbought/oversold. The full stochastic oscillator remains in overbought territory, although the %K and %D lines have converged and are at similar levels.

On Tuesday, PLTR sold off in early trading along with the rest of the broader indexes. However, once things started to turn around, PLTR’s stock price rose, closing at $62.98. The price action doesn’t confirm a buy as of Tuesday’s close, although that could change tomorrow.

The Game Plan

  • If PLTR has upside momentum on Wednesday morning, with high volume, a rising RSI, and the stochastic in overbought territory, I will enter a long position. I’d use the support of the 10-day EMA as a stop loss level and exit the position if price crosses below the EMA.
  • If price doesn’t move much on Wednesday, I’d wait patiently for the opportune entry point.
  • If price shows downside movement (i.e. PLTR closes below the 10-day EMA or horizontal dashed blue line, the RSI and stochastic turn lower), I’d keep PLTR in my ChartList but revisit it later. Given that it is an AI-related stock that is actively traded, it’s not worth dismissing the stock.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The 27-year-old son of Norway’s Crown Princess has been arrested on suspicion of rape, Norwegian police said Tuesday.

Marius Borg Høiby was born before his mother Mette-Marit married Crown Prince Haakon and became a princess in 2001. He was arrested for violating the criminal code which concerns “sexual intercourse with someone who is unconscious or for other reasons is unable to resist the act.”

Police specified that he is accused of carrying out a “sexual act without intercourse” on a victim “said to have been unable to resist the act.”

Høiby was arrested late on Monday night, police said, and was being held in a detention center on Tuesday morning. His lawyer, Øyvind Bratlien, told Norwegian public broadcaster NRK that he denies the allegation.

NRK reported that Høiby has now been charged with various offences against five different people – four women and a man.

Three of the women have been in a relationship with Høiby, NRK reported, adding that he has been accused of abuse in close relationships against all three women.

In August, police charged Høiby with assault and criminal damage after a violent incident at an apartment in Oslo that allegedly involved one of the three women. This woman was in a car with Høiby when he was arrested on Monday, police said.

Høiby has also been charged with threatening to kill a man in his 20s, NRK reported.

This post appeared first on cnn.com

Eight people were injured after a cable car crashed more than 3,000 meters (9,800 feet) above sea level at France’s Val Thorens ski resort on Tuesday, authorities said.

The cable car was carrying construction workers up the Cime Caron mountain in bad weather conditions when it “collided with the arrival station,” according to a statement by the Savoie region of France.

The incident seriously injured two people, and left six others with less severe injuries, the local department said.

Fire and rescue services responded to the crash, with more than 120 responders mobilized.

The region’s public prosecutor’s office has opened an investigation, the statement added.

Construction was taking place ahead of Val Thorens’ ski season. The resort is set to open on Saturday, welcoming visitors until early May.

Val Thorens is one of Europe’s most popular skiing destinations, and is the continent’s highest altitude resort. It forms part of the 3 Vallées, the world’s biggest ski area with 600 kilometers of runs spread between Val Thorens and the two other main resorts of Courchevel and Meribel.

The Cime Caron mountain, where the incident occurred, has an altitude of nearly 3,200 meters (10,500 feet).

This post appeared first on cnn.com

A 17-year-old who is not allowed to speak in public in her own country has won a prestigious international award for advocating for the rights of Afghan girls.

Nila Ibrahimi won the International Children’s Peace Prize on Tuesday, an award that has recognized luminaries including climate activist Greta Thunberg and girls’ education campaigner Malala Yousafzai.

Ibrahimi received the honor for her “courageous work to fight for the rights of girls” in Afghanistan, where women are being silenced by oppressive rules set by the Taliban, who seized power in 2021.

Before the takeover, Ibrahimi gained an online following after using her voice to pressure Kabul education authorities to overturn a ban on schoolgirls singing in public.

Ibrahimi recorded herself singing, and her brother uploaded the video to social media.

The “IAmMySong” campaign caught on and, within weeks, the ban was overturned.

“That was the first time that I thought, wow. Like if I do want it, if I do think this is the way I want to live, I can speak up and that can be accepted,” she said in a video statement.

Campaigning from Canada

Ibrahimi was 15 when the Taliban moved into Kabul and seized power after the chaotic withdrawal of the US and its allies following a 20-year occupation, returning the nation to theocratic rule.

With the help of the 30 Birds Foundation, Ibrahimi fled Afghanistan with her family — first to Pakistan and then Canada, where she continues to advocate for Afghan girls.

She co-founded “Her Story,” which encourages Afghan girls to share their stories, spotlighting the voices of those still in Afghanistan.

“Every single day I think of those girls who are left behind in Afghanistan, left with no hope. In Canada, I make decisions about my life and embrace the person I aspire to be, but what about them?” Ibrahimi said in a speech to the Geneva Summit for Human Rights and Democracy last year.

After the Taliban took power, they closed schools for girls over 12. Teenage girls and women are not allowed to study or work and can only leave the house with a male relative. They can’t talk in public and must cover themselves head to toe, their eyes downcast to avoid accusations of impropriety. They aren’t allowed to use parks, gyms and other public facilities. Nor can they travel without permission.

The restrictions are part of a dramatic reversal of freedoms gained over two decades since the last time the Taliban ruled Afghanistan.

Last week, the Taliban carried out a public execution, drawing condemnation from senior United Nations officials who called for an immediate end to such practices.

The UN’s Special Rapporteur to Afghanistan, Richard Bennett, said the execution was a “clear violation of human rights.” Bennett has been banned from Afghanistan by the Taliban, who have accused him of spreading propaganda.

Germany, Australia, Canada and the Netherlands have accused the hardline Islamist group of violating the UN Convention on the Elimination of All Forms of Discrimination against Women.

The Taliban has previously said it was “absurd” to accuse Afghanistan’s leaders of gender discrimination. “Human rights are protected in Afghanistan and no one is discriminated,” said spokesman Hamdullah Fitrat Fitrat.

This post appeared first on cnn.com

Iran has defied international demands to rein in its nuclear program and has increased its stockpile of uranium enriched to near weapons-grade levels, according to a confidential report by the United Nations’ nuclear watchdog seen Tuesday by The Associated Press.

The report by the International Atomic Energy Agency said that as of Oct. 26, Iran has 182.3 kilograms (401.9 pounds) of uranium enriched up to 60%, an increase of 17.6 kilograms (38.8 pounds) since the last report in August.

Uranium enriched at 60% purity is just a short, technical step away from weapons-grade levels of 90%.

The IAEA also estimated in its quarterly report that as of Oct. 26, Iran’s overall stockpile of enriched uranium stands at 6,604.4 kilograms (14,560 pounds), an increase of 852.6 kilograms (1,879.6 pounds) since August. Under the IAEA’s definition, around 42 kilograms (92.5 pounds) of uranium enriched to 60% purity is the amount at which creating one atomic weapon is theoretically possible — if the material is enriched further, to 90%.

The reports come at a critical time as Israel and Iran have traded missile attacks in recent months after more than a year of war in Gaza, which is governed by Hamas, a group supported by Iran.

Adding to the complexity, Donald Trump’s reelection raises questions about whether and how the incoming administration and Iran may engage.

Trump’s first term in office was marked by a particularly troubled period, when he pursued a policy of “maximum pressure” against Tehran. He unilaterally withdrew America from Iran’s nuclear deal with world powers, leading to the sanctions hobbling the economy, and ordered the killing of the country’s top general.

Western diplomats consider censuring Iran

Iran last week offered not to expand its stockpile of uranium enriched up to 60%, during a visit to Tehran by the IAEA chief, Rafael Mariano Grossi.

The IAEA said during the meetings, “the possibility of Iran not further expanding its stockpile of uranium enriched up to 60% U-235 was discussed, including technical verification measures necessary for the Agency to confirm this, if implemented.”

The report said that one day after Grossi left Iran, on Nov. 16, IAEA inspectors verified that “Iran had begun implementation of preparatory measures aimed at stopping the increase of its stockpile of uranium enriched up to 60 % U-235” at its underground nuclear sites in Fordow and Natanz.

The reports come ahead of this week’s regular IAEA Board of Governors meeting in Vienna. Western countries have been considering a resolution censuring Iran for its failure to improve cooperation with the agency.

A senior diplomat, who spoke on the condition of anonymity because of the sensitivity of the issue, said it is possible that the commitments made by Iran during the IAEA’s chief visit may not stand in case a resolution is passed. In the past, Iran has responded to resolutions by the IAEA Board of Governors by further enhancing its nuclear program.

Iran has maintained its nuclear program is for peaceful purposes only, but Grossi has previously warned that Tehran has enough uranium enriched to near-weapons-grade levels to make “several” nuclear bombs if it chose to do so. He has acknowledged the U.N. agency cannot guarantee that none of Iran’s centrifuges may have been peeled away for clandestine enrichment.

Little progress on improving ties

The IAEA also reported that Iran has failed to take concrete steps as of now to improve cooperation, despite pleas by Grossi, who held talks last week with Mohammad Eslami of the Atomic Energy Organization of Iran, Iranian Foreign Minister Abbas Araghchi and Iran’s reformist President Masoud Pezeshkian.

However, Tuesday’s confidential report also said that during Grossi’s visit to Iran on Nov. 14, “Iran agreed to respond to the Agency’s concerns related to Iran’s withdrawal of the designation of several experienced Agency inspectors by considering the acceptance of the designation of four additional experienced inspectors.”

In September 2023, Iran barred some of the Vienna-based agency’s most experienced inspectors.

The report also said there was no progress thus far in reinstalling more monitoring equipment, including cameras, removed in June 2022. Since then, the only recorded data comes from IAEA cameras installed at a centrifuge workshop in Isfahan in May 2023 — although Iran has not provided the IAEA with access to this data and inspectors have not been able to service the cameras.

Last week, Eslami warned that Iran could retaliate if challenged at the upcoming IAEA board meeting. Grossi acknowledged some nations were considering taking action against Iran.

In an effort to ensure Iran could not develop atomic weapons, world powers struck a deal with Tehran in 2015 under which it agreed to limit enrichment of uranium to levels necessary for nuclear power in exchange for the lifting of economic sanctions. UN inspectors were tasked with monitoring the program.

Under the original 2015 nuclear deal, Iran was allowed to enrich uranium only up to 3.67% purity, can maintain a stockpile of uranium of 300 kilograms and is permitted to use only very basic IR-1 centrifuges, machines that spin uranium gas at high speed for enrichment purposes.

A year after the U.S. withdrawal from the deal under Donald Trump, Iran started to gradually abandon all limits the deal put on its program and began enriching uranium to up to 60% purity.

This post appeared first on cnn.com

The United States formally recognized Venezuelan opposition leader Edmundo Gonzalez as the country’s president-elect following the disputed July 28 presidential election, Secretary of State Antony Blinken announced Tuesday on X.

“The Venezuelan people spoke resoundingly on July 28 and made Edmundo Gonzalez the president-elect. Democracy demands respect for the will of the voters,” the top US diplomat posted while participating in the G20 summit in Rio de Janeiro.

The announcement marks a significant change in US policy towards Venezuela: up until now, the US and other countries said Gonzalez had won more votes than incumbent leader Nicolas Maduro in July but stopped short of recognizing him as “president-elect.”

“The Venezuelan people overwhelmingly and unequivocally expressed their desire for democratic change—the publicly available voting tally sheets say so,” they said.

Gonzalez on Tuesday thanked the US for the move, saying: “We deeply appreciate the recognition of the sovereign will of all Venezuelans. This gesture honors our people’s desire for change and the civic feat that we carried out together on July 28.”

In July, Venezuelan electoral authorities declared Maduro the winner amid widespread allegations of vote rigging. The Venezuelan opposition collected and published hundreds of thousands of vote tallies receipts claiming Gonzalez won with more than 70% of the vote.

Maduro remains firmly in power in Caracas and has called the opposition’s receipts “fraudulent.”

Gonzalez, who fled to Spain in September fearing for his safety, has previously said he intends to return to Venezuela in the coming weeks for the presidential inauguration set for January 10.

This post appeared first on cnn.com

Brazilian police have arrested five people, including a former adviser to ex-President Jair Bolsonaro, over an alleged plot to assassinate President Luiz Inácio Lula da Silva in 2022, authorities said.

The coup plot was conceived in late 2022, before Lula took office, according to Federal Police. In addition to killing the then-president-elect, the plot also included plans to capture or kill Lula’s Vice President Geraldo Alckmin and Supreme Court Justice Alexandre de Moraes, the Supreme Court said in its arrest order.

The order, signed by Moraes on Sunday, authorizes the preventative detention of the five suspects, including retired general Mário Fernandes.

The alleged plot also involved other military personnel with training in special forces, the Federal Police said.

“The planning drawn up by those under investigation detailed the human and military resources needed to carry out the actions, using advanced military operational techniques,” police said.

The plan envisioned the eventual creation of an “Institutional Crisis Management Office” in Brazil’s government that the coup plotters would control, according to the police.

According to the court order, the alleged plotters also considered several methods to carry out the political assassinations, including the use of poison or explosive devices.

“For the execution of President Lula, the document describes, considering his health vulnerability and frequent visits to hospitals, the possibility of using poisoning or chemicals to cause an organic collapse,” reads Moraes’ order, citing an investigation into the plot.

In addition to the five arrests, police said the suspects would be prohibited from leaving the country or contacting other people suspected of involvement in the plot, documents show.

In February of this year, Bolsonaro was placed under investigation over the alleged plot. The investigation is expected to be finished later this month, Reuters reported, citing a source with direct knowledge of the probe.

According to a police warrant carried out on Tuesday, Bolsonaro allegedly met with officials from the army and navy as well as the minister of defense in December 2022 to present a document detailing the legal framework that would keep him in power.

The former president has repeatedly denied allegations of attempting a coup. His son, Flavio Bolsonaro, who is a senator in the Brazilian Congress, suggested in a post on X that the five suspects had not committed a crime.

“As disgusting as it may be to think about killing someone, it is not a crime. And for there to be an attempt, the execution must be interrupted by some situation beyond the control of the perpetrators. Which does not appear to have happened,” he wrote.

In October 2022, Lula narrowly beat Bolsonaro in the presidential election. Bolsonaro’s supporters rejected the results and rioted in the capital Brasilia, storming government buildings on January 8, 2023.

This post appeared first on cnn.com