Cornelio Ash – Page 40 – WILLIAM O'NEIL+CO

Global Laggards

Posted on May 9, 2019May 9, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Cameco Corporation ( CCJ ), Owens Illinois ( OI ), Aramark ( ARMK ), Goodyear Tire & Rubber ( GT ), Sabre Corporation ( SABR ), Equinor ASA ( EQNR ), Bank of New York Mellon ( BK ), Grifols Sa ( GRFS ), Urban Outfitters ( URBN ), Companhia Brasileira ( CBD ), Littelfuse ( LFUS ), Werner Enterprises Inc ( WERN )

Developed: Solvay ( SOL.BE; SOLB BB ), Sojitz ( NIIW.JP; 2768 JP ), Suntory beverages and Food ( SBFL.JP; 2587 JP ), Caltex Australia ( CTX.AU; CTX AU ), Aeon Mall ( AEMA.JP; 8905 JP ), Shanghai Fosun Pharmaceutical ( SFPG.HK; 2196 HK ), Koninklijke Ahold Delhaize ( AD.NL; AD NA ), Aeon ( JT@N.JP; 8267 JP ), Canon ( CN@N.JP; 7751 JP ), China Communication Services ( CHCM.HK; 552 HK ), Computershare ( CPU.AU; CPU AU ), Deutsche Lufthansa ( LHAX.DE; LHA GR )

Emerging: Britannia India ( BRI.IN; BRIT IN ), Cathay Financial Holdings ( CFC.TW; 2882 TT ), Shoprite ( SHPJ.ZA; SHP SJ ), AU Optronics ( ADT.TW; 2409 TT )

Global Laggards

Posted on May 2, 2019May 3, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Cameco ( CCJ ), Three M Company ( MMM ), Autoliv Inc ( ALV ), MGM Resorts ( MGM ), Phillips 66 ( PSX ), Commerce Bancshares ( CBSH ), Unitedhealth ( UNH ), Nordstrom ( JWN ), Target ( TGT ), Sally Beauty Holdings ( SBH ), Kemet ( KEM ), Teladoc Health ( TDOC ), Werner Enterprises ( WERN )

Developed: South32 ( S32.AU; S32 AU ), Taisei ( TC@N.JP; 1801 JP ), Stanley Electric ( STAN.JP; 6923 JP ), Boss ( BOSS.DE; BOSS GR ), Suncor Energy ( SU.CA; SU CN ), Platinum Asset Management ( PTM.AU; PTM AU ), Orion B ( ORNB.FI; ORNBV FH ), Aeon ( JT@N.JP; 8267 JP ), Dena ( DENA.JP;2432 JP ), NextDC ( NXT.AU; NXT AU ), Japan Airlines ( APL.JP; 9201 JP )

Emerging: GS Engineering & Construction ( LCV.KR; 006360 KS ), Samsung C&T ( CLZ.KR; 028260 KS ), Plknc Naftowy Orlen ( PLK.PL; PKN PW ), Hana Financial ( HFH.KR; 086790 KS )

Global Laggards

Posted on April 25, 2019April 26, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Albemarle corporation ( ALB ), China Mobile Ltd ADR ( CHL ), Harley Davidson ( HOG ), Marathon Petroleum ( MPC ), Amer Equity Investment Life ( AEL ), Davita Healthcare ( DVA ), Nordstrom Inc ( JWN ), HP ( HPQ ), Allscripts Hlthcare Sol ( MDRX ), Copa Holdings SA ( CPA ), TripAdvisor ( TRIP ).

Developed: Evolution Mining (EVN.AU; EVN AU), Zhuzhou Crrc Times Electric (ZCSR.HK; 3898 HK), Nissan Motor (NR@N.JP; 7201 JP), Kikkoman (KN@N.JP; 2801 JP), Tokyo Fudosan Holdings (TFUD.JP; 3289 JP), Shionogi (SQ@N.JP; 4507 JP), Koninklijke Ahold Delhaize (AD.NL; AD NA), Canon (CN@N.JP; 7751 JP), DENA (DENA.JP; 2432 JP).

Emerging: Indorama Ventures (INVX.TH; IVL TB), Hindalco Industries (HDI.IN; HNDL IN), Dabur India (DAB.IN; DABUR IN), Irpc (TPI.TH; IRPC TB), Central Pattana (CPN.TH; CPN TB), Bim Birlesik Magazalar (BMI.TR; BIMAS TI).

Global Laggards

Posted on April 18, 2019April 18, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Albemarle ( ALB ), Three D Systems ( DDD ), KT Corp ( KT ), Trip Advisor ( TRIP ), Peabody Energy Corporation ( BTU ), Hope Bancorp ( HOPE ), Addus ( ADUS ), National Vision ( EYE ), Sprouts Farmers Market ( SFM ), HP ( HPQ ), Take Two ( TTWO )

Developed: Svenska Cellulosa Aktiebolaget Sca ( SW@G.SE; SCAB SS ), Dentsu ( DENN.JP; 4324 JP ), Ajionomoto ( AJ@N.JP; 2802 JP ), Caltex Australia ( CTX.AU; CTX AU ), Shizuoka Bank ( ZB@N.JP; 8355 JP ), Swedish Orphan Biovitrum ( SOBI.SE; SOBI SS ), Aeon ( JT@N.JP; 8267 JP ), Marubeni ( MRBU.JP; 8002 JP ), DENA ( DENA.JP; 2432 JP ), Yamato ( OJ@N.JP; 9064 JP )

Emerging: Suzano On ( SUZ.BR; SUZB3 BZ ), Tenaga Nasional ( TENN.MY; TNB MK ), Lojas Americanas ( LM4.BR; LAME4 BZ )

Global Laggards

Posted on April 11, 2019April 11, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Mosaic Company ( MOS ), Aramark ( ARMK ), Sabre Corporation ( SABR ), Murphy Oil Corporation ( MUR ), Brighthouse Financial ( BHF ), Patterson Companies ( PDCO ), Walgreens Boots Alliance ( WBA ), Cracker Barrel ( CBRL ), Dolby Laboratories ( DLB ), Yelp ( YELP ), Hub Group Incorporation ( HUBG )

Developed: Svenska Cellulosa Aktiebolaget Sca ( SW@G.SE; SCAB SS ), Taisei ( TC@N.JP; 1801 JP ), Nikon ( OU@N.JP; 7731 JP ), Suncor Energy ( SU.CA; SU CN ), Caixabank ( CABK.ES; CABK SM ), Sumitomo Dainippon Pharma ( DPPH.JP;4506:JP ), Seven and I ( SEVI.JP; 3382 JP ), Aeon ( JT@N.JP; 8267 JP ), Marubeni ( MRBU.JP; 8002 JP ), Spark New Zealand ( SPKZ.NZ; SPK NZ ), Dena ( DENA.JP; 2432 JP ), Yamato Holdings Corporation ( OJ@N.JP; 9064 JP )

Emerging: Koza Altin Isletmeleri ( KAI.TR; KOZAL TI ), Tenaga Nasional ( TENN.MY; TNB MK ), Discovery ( DSYJ.ZA; DSY SJ ), Lojas Americanas Pn ( LM4.BR; LAME4 BZ )

Stocks worth focusing on in this week’s Global Laggards:

Yelp ( YELP ) – Technology; $2.9B market cap – provides an online platform that allows users to find and review local businesses via Yelp.com and the Yelp mobile app.

O’Neil Methodology

We see resistance at the 10- and 40-WMA and immediate support near November 2018 lows of ~$29, which provides downside of about 22%.
Poor O’Neil Ratings and Rankings: Composite Rating of 43, SMR Rating of D, RS Rating 22, and A/D Rating C+.

Global Laggards

Posted on April 4, 2019April 4, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Bunge ( BG ), Harsco ( HSC ), News ( NWSA ), Helen of Troy ( HELE ), Phillips 66 ( PSX ), Bankunited ( BKU ), Amerisourcebergen ( ABC ), Walgreens Boots Alliance ( WBA ), Sprouts Farmers Market ( SFM ), Interdigital ( IDCC ), Amdocs ( DOX ), Atlas Air Worldwide ( AAWW )

Developed: Israel Chemicals ( ICL.IL; ICL IT ), China Railway ( CHRL.HK; 390 HK ), Nichirei ( RZ@N.JP; 2871 JP ), Sumitomo Mitsui Trust ( SMTH.JP; 8309 JP ), Sumitomo Dainippon Phamra ( DPPH.JP; 4506 JP ), Lawson ( LAWS.JP; 2651 JP ), Marubeni ( MRBU.JP; 8002 JP ), Dena ( DENA.JP; 2432 JP )

Emerging: Naver ( NHN.KR; 03542 KS ), Tenaga Nasional ( TENN.MY; TNB MK ), Central Pattana ( CPN.TH; CPN TB ), Lojas Americanas Pn ( LM4.BR; LAME4 BZ )

Is Software’s Rally Sustainable? with Cornelio Ash — April 4, 2019

Posted on April 4, 2019April 8, 2019 by Cornelio Ash

Software has been a strong performer so far in 2019 (up 22%), but will its rally continue given the recent consolidation? In this webinar, Director, Research Analyst Cornelio Ash will examine what’s necessary to sustain the sector’s rebound.

Global Technology Sector – Software

Posted on April 3, 2019April 4, 2019 by Cornelio Ash

Highlights from this report are below. You can listen to this report’s accompanying webinar any time after Thursday, April 4, 2019, at 11am ET, on the PANARAY Knowledge Center.

Although the Software ETF ( IGV ) has rallied 22% year-to-date, we believe the rally is not yet over and more gains are on the table.

Many of 2019’s best-performing software stocks ( NOW, CYBR ) just emerged from first-stage bases but are exhibiting healthy signs of consolidation ( HUBS, OKTA ), with the possibility of secondary entry points developing in the coming days and weeks.

Six of 10 software groups are ranked in the top 20 within our 197 Industry Groups, led by Enterprise ( TEAM, PCTY ), Security ( CYBR, RPD ), and Database ( AYX, MDB ). Enterprise and Security are by far the best-performing groups thus far, both up 31% year-to-date.

Mega caps, including the IGV’s largest constituents—CRM, MSFT, ADBE, and ORCL—have increased by a median of 17% year-to-date, significantly underperforming the median performance of medium caps (26%) and small caps (20%).

IGV constituents reported median revenue and EPS growth of 19% and 26%, respectively, better than expected. More importantly, sales growth (19%) was the strongest in three years.

Standout industries include: cybersecurity ( CYBR, ZS ), human capital management ( PAYC, PCTY ), and customer relationship management platforms ( HUBS, ZEN ).

Global Laggards

Posted on March 28, 2019March 28, 2019 by Cornelio Ash

Highlighted Charts

U.S.: The Chemours Company ( CC ), Aecom Technology ( ACM ), Valmont Industries ( VMI ), Aptiv ( APTV ), Molson Coors Brewing ( TAP ), Halliburton Company ( HAL ), Capital One Financial ( COF ), Henry Schein ( HSIC ), Beacon Roofing Supply ( BECN ), Qurate Retail ( QRTEA ), TE Connectivity ( TEL ), Amdocs Limited ( DOX )

Developed: Upm Kymmene Corporation ( UPM.FI; UPM FH ), Ngk Insulators ( KI@N.JP; 5333 JP ), Mazda Motor ( KO@N.JP; 7261 JP ), Orkla ( ORK.NO; ORK NO ), Equinor ( EQNR.NO; EQNR NO ), RSA Insurance Group ( RSA.GB; RSA LN ), Cochlear ( COH.AU; COH AU ), Seven & I ( SEVI.JP; 3382 JP ), Lawson ( LAWS.JP; 2651 JP ), Infineon Technologies ( IFXX.DE; IFX GR ), Toppan Printing ( PT@N.JP; 7911 JP), Deutsche Lufthansa (LHAX.DE; LHA GR)

Emerging: Hyundai Heavy Industries (HUE.KR; 00950 KS ), Fubon Financial Holdings ( FUB.TW; 2881 TT ), Bim Birlesik Magazalar ( BMI.TR; BIMAS TI )

Stocks worth focusing on in this week’s Global Laggards:

Developed

Cochlear ( COH.AU; COH:AU ) – Health Care; $7.1B market cap – global leader in implantable cochlear hearing devices with ~60% market share.

O’Neil Methodology

The stock gapped down below its 50- and 200-DMA on February 19 following poor H1 FY19 results. We believe the stock can now be shorted following a low volume rally into the 50-DMA.
Technical ratings: RS line at a new low, RS Rating of 48, A/D Rating of D-.

Global Laggards

Posted on March 21, 2019March 27, 2019 by Cornelio Ash

Highlighted Charts

U.S.: Sociedad Quimica Y Minra ( SQM ), Huntington Ingalls Inds ( HII ), Sony Corp American Shrs ( SNE ), Scotts Miracle (

), Halliburton Company ( HAL ), Washington Federal ( WAFD ), Amerisourcebergen Corp ( ABC ), Cracker Barrl Old Cnt St ( CBRL ), Qurate Retail Inc ( QRTEA ), Dave & Buster’s Entmnt ( PLAY ),Juniper Networks ( JNPR ), Vonage Holdings ( VG ), Werner Enterprises Inc ( WERN ).

Developed: Israel Chemicals limited ( ICL.IL; ICL IT ), Kddi Corporation ( DDIC.JP; 9433 JP ), Salmar ( SALM.NO; SALM:NO ), Equinor ( EQNR.NO; EQNR NO ), Daito Trust Construction ( DITC.JP; 1878 JP ), Mitsubishi Tanabe Pharma ( EF@N.JP; 4508 JP ),Lawson ( LAWS.JP; 2651 JP ), Nintendo ( NNDO.JP ; 7974 JP ),Deutsche Lufthansa ( LHAX.DE; LHA GR )

Emerging: Sk Telecom ( SKT.KR; 017670 KS ), Remgro ( REMJ.ZA; REM SJ )

Stocks worth focusing on in this week’s Global Laggards:

U.S.

Cracker Barrel Old Country Store ( CBRL ) – Retail ( $4B market cap ) – operates 659 rustic country-stores, each of which comprise a full-service restaurant, offering homestyle food and a gift shop.

O’Neil Methodology

The stock is down 17% from its 52-week high and is trading weakly below key moving averages. We see the next support level for the stock at ~$142, which is ~7% below the last closing price of $153.43.
It has a strong EPS Rank of 71, but is expected to decline going forward, as FY 2019 EPS growth is expected at 4%, which would make it the second consecutive year of low single-digit EPS growth. Further, it has a weak Composite Rating of 57.
Its RS line has been trending down, and its RS Rating currently stands at 29, and its A/D Rating is weak at D-.

Commentary

Cracker Barrel reported Q2 FY 2019 results on February 26. Revenue of $811.7M ( +3.0% y/y ) beat estimates of $810M, while EPS of $2.52 (-7.7% y/y) also beat estimates of $2.51. Comparable store restaurant sales growth of 3.8% beat expectations of 1.3% on the back of strong off-premise sales growth in November.
Even as the comparable store restaurant sales growth was strong, it did not translate into improved margins. Store-level operating margin shrank 40bps y/y to 13.9% on account of higher labor and other operating costs. At the Company level, operating margin was 9.5%, down 20bps y/y.
For the full year, management has guided for comparable store restaurant sales to grow 1–2%, implying a deceleration in H2 from the H1 average comparable store restaurant sales growth of 2.6%. With persisting labor inflation, operating margin is guided at 9.0–9.3%, compared with 9.7% for FY 2018.