Econ Advisory March 7, 2017 Jigar Bhakta
Portfolio Performance
Portfolio Highlights CRM (up 0.6%) Gaining momentum recently as analyst give stronger ratings to the company Was rated overweight by MS today, target: $107 (curr. trading at $83). GOOG (up 0.5%) Just announced that it launched its big data tool, Data Studio, in over 180 countries Tableau, industry leader in big data, saw shares fall as much as 2.6% on the news, as competition heats up in the sector CVX (down 1.2%) Had analyst day today. Whereas peers (like XOM) are finding it difficult to find new fields to replace drying reserves, CVX announced that it has 5 fields in the Permian basin in the backlog ready to go online by 2020 Reaffirmed today its production, margins, and cash flow growth plans Good news, especially since oil is not recovering on its expected trajectory Peers cannot say the same (XOM) TSL (up 5.7% after hours) Unclear what has driven the spike, but it does not appear to be a automated error as it remained flat. Jumped from $10.86 to $11.49. Management has agreed to privatize the firm by the end of Q1. Perhaps investors have more confidence.
Econ / Market Summary High profile members of the Fed have been speaking over the last week. A rate hike next week seems imminent. Oil prices have been choppy over the past week. OPEC cuts have been largely adhered to, though some cause for worry (Saudi Arabia is taking bulk of cuts, and producing less than agreed to) US inventories are gaining. How much will OPEC’s (generally) stable influence on prices keep this in check? Our newest Wikileaks hack is out Targets the CIA, highest profile target Alleges that the CIA is involved in extreme espionage, able to gain info from cell phones and televisions Snap IPO’d on Thursday. Set price after hours on Wed. at $17 Bid up to $24 to open Made its way to just under $29 Been bleeding the past two days. Now trades at $21.
Upcoming Events Nothing on campus Nothing of note (except for weekly stuff like jobless claims and the like) Fed Meeting next Tuesday