US companies announced share repurchases totaling $166 billion last month, the highest dollar value on record for July ...
For the year, announced buybacks stand at $926 billion, which is $108 billion ahead of the previous year-to-date record set in 2022. Source: Bloomberg, Birinyi Associates, RBC
“Insiders at just 151 S&P 500 companies bought their own stocks last month, the fewest since at least 2018, according to data compiled by the Washington Service.”
Source: Kevin Gordon on X, Bloomberg
$PLTR absolutely destroyed their Q2 earnings
Palantir topped Wall Street’s estimates Monday, surpassing $1 billion in quarterly revenue for the first time, and hiking its full-year guidance. Shares rallied more than 5%. • Sales $1.0B vs Est. $939M • EPS $0.16 vs Est. $0.13 • US Commercial: $306M -- up 93% YoY • Customer count up 43% YoY Q3 Outlook • Sales $936M vs Est. $899M • Operating Profit $495M vs Est. $417M FY25 Outlook • Sales $4.14B vs Est. $3.90B • Operating Profit $1.92B vs Est. $1.72B Source: Shay Boloor @StockSavvyShay, CNBC
Buffett might have to cancel his retirement!
Berkshire Hathaway $BRK.A is now underperforming the S&P 500 by 26 percentage points since his retirement announcement... Source: Barchart
US stocks have never been higher in August under a second term president in a post-election year.
6 for 6 lower. Source: Ryan Detrick, CMT
Should we fear bearish engulfing patterns on the S&P 500?
Fundstrat: " $SPX and equities are overbought. So a bit of consolidation is expected. But we believe the risk/reward for stocks remains favorable. And we think stocks will likely be higher 2 weeks from now." Source: Seth Golden @SethCL
Berkshire Hathaway’s cash position is now 30% of their total assets, the most in history.
Source: Barchart
Since 1985, Nasdaq 100 has a rough start to August, with double-dips ultimately resulting in a W-shaped recovery into end-of-month.
Might take a little longer (release of CPI mid-month) if downside persists and before recovery ensues in 2025. Source: Seth Golden
