EDITOR'S NOTE
Well, Amazon's results last night didn't do much to help FANG get its mojo back.
The stock was down more than 7% after its earnings last night and guidance for the holiday quarter that was way below expectations. It's almost fully recovered that drop today, though. We'll have a lot more on their quarter at the top of the show, with a look at what's going on with the cloud biz (Amazon Web Services) in particular.
In the meantime, loved your suggestions for the new FANG trade yesterday...J.G. suggested "WADS" for Walmart, Apple, Disney, Starbucks; M.B. suggested "WALT" (same first two but then Lululemon and Target); D.C. went with "WAD" but for Walmart, American Express, and Dunkin...R.H. said "SAIL" for "a batch of privately held companies I wish would go public": State Farm, Aldi, Ikea, and Lego (and now we're getting a little off track here).
M.H. said it should simply be TSLA--for yes, Tesla, which is certainly on the rebound this week.
But the winner is C.S., who suggested "KELLY": for KO (Coke), Ebay, Lowes, L Brands, and Yum. Lol. Unfortunately, that hasn't exactly been a great basket of stocks.
There is a "K" that merits watching, though: Kimco Realty, ticker KIM. The CEO was with us on Power Lunch yesterday and noted that his company's strong performance in shopping centers (the stock is up 45% this year) is because...wait for it...they're heavily exposed to "WATCH"--the real new FANG that Cramer coined for Walmart, Amazon, Target, Costco, and Home Depot.
Ha! But unfortunately, "KWATCH" doesn't have quite the same ring to it.
In any case, see you at 1 p.m. and stick around for a fun chat with Amber Atherton about how companies are trying to find "real" influencers as that industry...yes, industry...matures.
Have a great weekend,
P.S. This is the must-read story of the day: the man appointed to run the Office of Federal Student Aid in 2017 resigned in protest yesterday from a related role, calling the federal student-loan system "fundamentally broken." He's basically endorsed cancelling most of the $1.5 trillion of debt outstanding, and getting the government out of the student loan business. And he's launching a long-shot run for Senate in Georgia. We'll definitely be following the story.
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Jumat, 25 Oktober 2019
All-time highs for the S&P but no thanks to FANG
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