20204/4/19 投資ネタ

UG
#BAC /Wolfe/OP：NIIの伸びが鈍化するのは長く続くが、Q1のアセットサイドのイールドは予想よりもいい傾向を示していた。NIIの転換点は近く、収益力を取り戻すとみている。
#SHOP /MS/EW：抑制された消費者支出に対し、きちんと成長できるとみている。コスト削減の余地もある
#FSLR /WFC/OW：2026年まで販売見通しが立っているため相対的に安定感がある。両面太陽光パネルの関税免除措置の撤廃や中国の太陽光パネルへの関税、IRAのクレジットの制限、トランプの大統領就任などがカタリスト。
DG
#ARM /BNP/N：
#ON /BNP/UP：
#NFLX /Canaccord/Hold：paid sharingなどで伸びた会員者数により収益が予想を上回るも、当面は伸びが限定的になり拡大したマルチプルを踏まえると不利。
#HSY /Edward Jones/Hold：
#NOVA /WFC/：higher for longerの環境下、住宅向けは不利。利下げを待つ間に社債の償還により流動性がタイトになる。

earnings
Regions Financial reports Q1 EPS 37c with items, consensus 45c ：net interest margin 3.55% vs. 4.22% last year
Fifth Third reports Q1 EPS 70c, consensus 70c：Q4 provision for credit losses totaled $94M vs. $164M last year. Q4 net charge-offs were $110M vs. $78M last year.
#SLB Earnings:“International revenue grew 18% year on year, compensating for a softer North American market where revenue declined 6%.
#PG ：Reports Q3 revenue $20.2B, consensus $20.41B. The company also maintained its outlook for organic sales growth in the range of four to five percent.Reported gross margin for the quarter increased 300 basis points versus the prior year. Core gross margin for quarter increased 310 basis points and 400 basis points on a currency-neutral basis. The increase was driven by benefits of 260 basis points from gross productivity savings, 130 basis points of favorable commodity costs and 130 basis points from increased pricing. These were partially offset by 100 basis points of unfavorable gross margin product mix and 20 basis points of product reinvestments and other impacts. Says growth broad-based across geographies. Says demand in U.S. continues to be strong. Expects headwinds in China to moderate in coming quarters.
#AXP reports Q1 EPS $3.33, consensus $2.78 ：Reports Q1 revenue $15.8B, consensus $14.86B. Overall Card Member spending grew 7 percent on an FX-adjusted basis, with spending by U.S. consumer Card Members up 8 percent from a year earlier and spending in our International Card Services segment increasing 13 percent on an FX-adjusted basis. We continue to attract high-spending, high credit-quality customers to the franchise, with new card acquisitions accelerating sequentially to 3.4 million in the quarter.

個別株
#AAPL | Apple ordered to remove $META's WhatsApp, Threads, Signal, and Telegram from its China AppStore after an order from internet regulator CAC.
#KBH | KB Home has announced a new $1 billion share repurchase authorization along with a 25% increase in its quarterly cash dividend, raising it to $0.25 per share.
#TSLA is recalling 3,878 Cybertrucks due to an issue where the accelerator pedal pad may dislodge and become trapped by the interior trim. - NHTSA
#GOOG ad changes fall short, U.K. privacy regulator says, WSJ reports
#PLCE (-6.3% pre) Children's Place falls after warning on late 10-K filing - SA

マクロ・債券
(米国)
BIDEN WEIGHS MORE THAN $1 BILLION IN NEW ARMS FOR ISRAEL - WSJ.
Worth keeping an eye on prices paid indexes in regional Fed PMIs … both Philadelphia (orange) and Empire (blue) components have had strong bounces (but are still well off highs)
FED'S GOOLSBEE: IT MAKES SENSE TO WAIT TO GET MORE CLARITY BEFORE MOVING.

(欧州)
ECB'S KAZAKS: THE ECB TAKES THE FED INTO ACCOUNT, BUT HAS ITS OWN MANDATE.
ECB'S SCICLUNA: THE ECB MAY NEED 50BPS OF CUTS IF INFLATION IS SET TO MISS THE 2% TARGET.
ECB'S SIMKUS: QUARTERLY PROJECTIONS WILL FORM BASIS FOR CUTS.
ECB'S PRESIDENT LAGARDE: THE DISINFLATION PROCESS IN THE EURO AREA HAS CONTINUED.

(その他)
UK CORE RETAIL SALES MOM ACTUAL -0.3% (FORECAST 0.3%, PREVIOUS 0.2%) $MACRO
GERMAN PPI YOY ACTUAL -2.9% (FORECAST -3.3%, PREVIOUS -4.1%) $MACRO
ドルは今夏に170円まで上昇も、米当局が様子見継続なら－ソシエテ
BOE'S RAMSDEN: THERE ARE LIKELY TO BE BUMPS IN THE DISINFLATION PROCESS FROM ONE MONTH TO THE NEXT.
BOE'S MANN: THE CLEAR CONCERN IS FRAGMENTATION IMPACT ON INFLATION.