Stocks finished lower today as consumer confidence dropped, and disappointing financial results and guidance from companies like 3M (MMM), Caterpillar (CAT), Under Armour (UA), and Whirlpool (WHR).
Getty ImagesThe S&P 500 fell 0.4% to 2,143.16 today, while the Dow Jones Industrial Average declined 53.76 points, or 0.3%, to 18,169.27. The Nasdaq Composite dropped 0.5% to 5,283.40.
Strategas Research Partners’ Don Rissmiller and Erica Halie Comp contend that today’s drop in consumer confidence is nothing to worry about:
There are still risks in the global economy with China��s currency weakening and bank stocks in Italy showing considerable volatility. However, global economy continues to have a key support: the U.S. consumer. True, this support is not as strong as in the past, as the consumer has stopped de-leveraging, but does not appear to be re-leveraging in 2016. There have also been numerous changes in how consumers are making purchases (comparison shopping, online vs. in stores, experiences over goods). Still, consumer confidence typically falls sharply about a year before a U.S. recession. In this light, it��s worth noting that the dip in the Conf Board measure of consumer confidence to 98.6 in Oct is still above the level we saw 3 months ago.
Top 5 China Stocks To Buy For 2017: Clean Diesel Technologies Inc.(CDTI)
Advisors' Opinion:- [By Monica Gerson]
Clean Diesel Technologies, Inc. (NASDAQ: CDTI) is projected to post a quarterly loss at $0.18 per share on revenue of $10.25 million.
Sphere 3D Corp. (NASDAQ: ANY) is estimated to post a quarterly loss at $0.11 per share on revenue of $22.10 million.
Top 5 China Stocks To Buy For 2017: Renesola Ltd.(SOL)
Advisors' Opinion:- [By Monica Gerson]
ReneSola Ltd. (ADR) (NYSE: SOL) shares rose 9.76 percent to $1.35 in pre-market trading. ReneSola reported Q1 earnings of $0.06 per share on revenue of $260.7 million.
- [By Monica Gerson]
ReneSola Ltd. (ADR) (NYSE: SOL) is estimated to report a quarterly loss at $0.04 per share on revenue of $256.05 million.
America's Car-Mart, Inc. (NASDAQ: CRMT) is projected to post its quarterly earnings at $0.58 per share on revenue of $149.13 million.
- [By Monica Gerson]
Wall Street expects ReneSola Ltd. (ADR) (NYSE: SOL) to report a quarterly loss at $0.04 per share on revenue of $256.05 million. ReneSola shares gained 2.50 percent to close at $1.23 on Friday.
Top 5 China Stocks To Buy For 2017: Sina Corporation(SINA)
Advisors' Opinion:- [By Monica Gerson]
SINA Corp (NASDAQ: SINA) is projected to post a quarterly loss at $0.05 per share on revenue of $189.47 million.
Eldorado Gold Corp (USA) (NYSE: EGO) is expected to post a quarterly loss at $0.01 per share on revenue of $188.91 million.
Top 5 China Stocks To Buy For 2017: Euro/Yen(EJ)
Advisors' Opinion:- [By Belinda Cao]
E-House China Holdings Ltd. (EJ), a real estate brokerage, gained 9.2 percent to $9.70, extending it advance to a third week. Its American depositary receipts retreated 3.1 percent Sept. 20 from the highest level since May 2011.
Top 5 China Stocks To Buy For 2017: Baidu Inc.(BIDU)
Advisors' Opinion:- [By R. Chandrasekaran]
The brokerage picked up Alibaba Group Holding Ltd (NYSE: BABA) and Tencent (OTC: TCEHY) (OTC: TCTZF) for demonstrating solid progress in increasing their user engagement by launching content and services. On the other hand, Baidu Inc (ADR) (NASDAQ: BIDU) is witnessing a loss in the user engagement. The lead analysts think the companies are well-placed to take advantage of user engagement, including social media.
- [By Javier Hasse]
The top gainers in the index were:
Baidu Inc (ADR) (NASDAQ: BIDU), up 8.16 percent Whole Foods Market, Inc. (NASDAQ: WFM), up 5.95 percentThe top losers in the index were:
- [By Vincent Ho]
Baidu (BIDU) has made impressive gains in the last 3 months. There are some very insightful articles on SA that argue for a bullish stance based on valuations. There are other articles on SA which cover the recent acquisition of 91 Wireless. This article is different in that it offers an overview of Baidu's business model in relation to its dependence on online advertising. Understanding the direction of the internet is important to predict future revenue growth. Significantly new competition from Qihoo (QIHU) is also something Baidu has never experienced before. There are doubts if Baidu has enough tools to clean up its act and regain market share.
- [By Charles Carlson, CEO and Portfolio Manager, Horizon Investment Services]
One of my favorites is Baidu (BIDU), the Chinese search-engine company. You may recall I selected Baidu as one of my favorite turnaround stocks at the beginning of 2013.
- [By Motif Investing]
The most heavily weighted names in the motif are China Mobile Ltd. (ADR) (NYSE: CHL), Aibaba Group Holding Ltd (NYSE: BABA), Baidu Inc (NASDAQ: BIDU), India's HDFC Bank (NYSE: HDB) and Russia's Mobile TeleSystems PJSC (NYSE: MBT).
- [By Benzinga News Desk]
USA GDP (QoQ) for Q3 2.90% vs 2.50% consensus estimate. The prior reading was 1.40%.
The University of Michigan's consumer sentiment index for October will be released at 10:00 a.m. ET. The Baker Hughes North American rig count for the latest week is schedule for release at 1:00 p.m. ET. BZ News Desk Focus ExxonMobil (NYSE: XOM) Reports Q3 EPS $0.63 vs $0.58 Est., Sales $58.68B vs $61B Est. Mastercard (NYSE: MA) Reports Q3 EPS $1.08 vs $0.98 Est., Sales $2.9B vs $2.75B Est. Amazon (NASDAQ: AMZN) Reports Q3 GAAP EPS $0.52 vs. Est. $0.78 May Not Compare, Rev. $32.7B vs. Est. $32.69B Baidu (NASDAQ: BIDU) Reports Q3 Adj. EPS $1.49 May Not Compare to $0.88 Est., Sales $2.74B vs $2.71B Est. Alphabet (NASDAQ: GOOGL) Reports Q3 EPS $9.06 vs. Est. $8.64, Rev. $22.45B vs. Est. $22.05B Phillips 66 (NYSE: PSX) Reports Q3 Adj. EPS $1.05 vs $0.88 Est. Anheuser-Busch (NYSE: BUD) Reports Q3 EPS $0.83 vs $1.08 Est; Revenue $11.109B vs $11.50B Est Hershey (NYSE: HSY) Reports Q3 Adj. EPS $1.29 vs $1.19 Est., Sales $2B vs $2B Est. Amgen (NASDAQ: AMGN) Reports Q3 non-GAAP EPS $3.02 vs $2.79 Est, Rev $5.8B vs $5.73B Est Xerox (NYSE: XRX) Reports Q3 Adj. EPS $0.27, Inline, Sales $4.2B vs $4.31B Est. Sell-Side ThemesWorld Wrestling Entertainment (NYSE: WW) received a pair of downgrades after its earnings report came in below estimates.
