Reckitt Benckiser on major level
Reckitt Benckiser (RKT LN) had a strong reversal yesterday (Hammer candle) on strong volume. The reversal happend on March 2020 uptrend support and the low of the day tested tested major support zone 5400-5500 (rebound zone 7 times since 2015 !!!). Source : Bloomberg
Georg Fischer reached major support
Georg Fischer (GF SW) is now down 35% since March ! Stock just tested major support 45.86, this was July and September 2022 lows. Keep an eye at the close. Source : Bloomberg
Alphabet under pressure after earnings
Alphabet (GOOGL US) is down more than 8% after earnings. Stock is testing support 127.22 (latest swing low). Keep an eye at the closing price. Source : Bloomberg
Cloud growth is all what matters to the market these days
Unlike Alphabet/Google, Microsoft shares jumped as much as 6% in extended trading Tuesday after the software maker issued fiscal first-quarter results and quarterly revenue guidance that beat Wall Street estimates. Microsoft’s Intelligent Cloud segment produced $24.26 billion in revenue, up 19% and above the $23.49 billion consensus among analysts surveyed by StreetAccount. The unit comprises the Azure public cloud, SQL Server, Windows Server, Visual Studio, Nuance, GitHub and enterprise services. The firm also reported a surge in profit due to a slower pace of operating expense growth. In a nutshell: $MSFT Microsoft Q1 FY24 (ending in Sept): • Revenue +13% Y/Y to $56.5B ($1.95B beat). • Gross margin 71% (+2pp Y/Y) • Operating margin 48% (+5pp Y/Y). • EPS $2.99 ($0.34 beat). ☁️ Azure +28% fx neutral. Reaccelerating from +27% in Q4 FY23 Source: App Economy Insights
German business outlook is improving, feeding rebound hopes
Ifo expectations index rose to 84.7 in Oct, up from 83.1 in Sep and way better than BBG consensus of 83.5. "What we see here does suggest that we see a certain stabilization,” Ifo President Clemens Fuest told BBG. “The German economy will be shrinking this year, but for the final quarter we do expect a stabilization, slight growth.” Source: HolgerZ, Bloomberg
Alphabet reported 11% revenue growth in the third quarter, as a rebound in advertising pushed expansion into double digits for the first time in over a year
The shares dropped almost 7% in extended trading as the cloud business missed analysts’ estimates. In a nutshell: $GOOG Alphabet Q3 FY23: • Revenue +11% Y/Y to $76.7B ($1.0B beat) • Operating margin 28% (+3pp Y/Y) • EPS $1.55 ($0.10 beat) Google Cloud: • Revenue +22% Y/Y to $8.4B. • Operating margin 3% (+13pp Y/Y). Source: App Economy Insights
Equities tend to sell off with bonds when interest rates rise beyond 5%
Source: GS, TME (European equities in this case)
CTAs are running equity shorts, global as well as US
Source: TME, GS
