Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&amp;P 500 is headed next. We also highlight several attractive stocks from a relative strength perspective across Sectors.

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li>WDC beat consensus on the top and bottom line and guided Q4 ahead of expectations.</li><li>Revenue was $3.3B (+45% y/y), gross margin expanded to 50.5% (+1,040 bps y/y), and EPS hit $2.72, nearly double last year.</li><li>Q4 guide: revenue of $3.65B +/- $100MM (~40% y/y), gross margin of 51-52%, EPS of $3.25 +/- $0.15 — all above the Street.</li></ul>

WDC beat consensus on the top and bottom line and guided Q4 ahead of expectations.Revenue was $3.3B (+45% y/y), gross margin expanded to 50.5% (+1,040 bps y/y), and EPS hit $2.72, nearly double last year.Q4 guide: revenue of $3.65B +/- $100MM (~40% y/y), gross margin of 51-52%, EPS of $3.25 +/- $0.15 — all above the Street.

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the central government and the economic downturn as well as China’s latest effort to curb wrongdoing in luxury consumption in a crackdown on the grey market.

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the central government and the economic downturn as well as China’s latest effort to curb wrongdoing in luxury consumption in a crackdown on the grey market.

China's Luxury Market Set for Steady Performance Amid Unfavourable Market Environment

Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

<ul>
<li>The secular overweight since 2012 to semiconductor growth themes including sensor, parallel processing and communication chip stocks has outperformed wider tech indices.</li>
<li>The explosion in video steaming, cloud computing and the shift toward semi-autonomous vehicles as well as the huge computational intensity of AI software are all key drivers through end decade.</li>
<li>Global semiconductor industry sales saw accelerating growth from mid-2016, with Q4 sales of $93bn 12.3% higher y/y - semiconductors are…</li>
</ul>


The secular overweight since 2012 to semiconductor growth themes including sensor, parallel processing and communication chip stocks has outperformed wider tech indices.
The explosion in video steaming, cloud computing and the shift toward semi-autonomous vehicles as well as the huge computational intensity of AI software are all key drivers through end decade.
Global semiconductor industry sales saw accelerating growth from mid-2016, with Q4 sales of $93bn 12.3% higher y/y - semiconductors are…


Structural and Cyclical Drivers Underpin Semiconductor Outperformance

<ul>
<li>A key theme is that China’s next shock for the global economy will be the rising competitiveness of its consumer brands, which can squeeze Western multinationals out of emerging markets.</li>
<li>The auto sector is one which risks this disruption as domestic brands like Great Wall and Geely achieve critical mass in the booming SUV market, now about half of domestic vehicle output.</li>
<li>Chinese brands have over 60% market share in SUVs, with the best-selling entry level model selling for $13k and industry…</li>
</ul>


A key theme is that China’s next shock for the global economy will be the rising competitiveness of its consumer brands, which can squeeze Western multinationals out of emerging markets.
The auto sector is one which risks this disruption as domestic brands like Great Wall and Geely achieve critical mass in the booming SUV market, now about half of domestic vehicle output.
Chinese brands have over 60% market share in SUVs, with the best-selling entry level model selling for $13k and industry…


China Mobile Gaming and SUV Booms Sustained, US Credit Cycle Turning?

Bermuda

Liberty Global is an international telecommunications company that provides converged broadband internet, video, fixed-line telephony, and mobile communications services to residential customers and businesses primarily across Europe. The company also actively invests in technology, media, sports, and infrastructure sectors through its Liberty Growth division. It was formed in 2005 and is headquartered in London, United Kingdom, with additional principal offices in Amsterdam and Denver.

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Liberty Global (LBTYA US)

U.S. Equities: Upside Momentum Lost, But Not Breaking Down

In today's report we highlight key levels and several metrics we are watching that will provide us clues as to where the S&P 500 is headed...

Vermilion Research

Weekly Update (WDC, HOH.V, LBTYA, TXT)

WDC beat consensus on the top and bottom line and guided Q4 ahead of expectations. Revenue was $3.3B (+45% y/y), gross margin expanded to 50.5%...

Richard Howe

China's Luxury Market Set for Steady Performance Amid Unfavourable Market Environment

2016 was another bumpy year for China’s luxury goods market, plagued by the long-term impact of the anti-corruption campaign undertaken by the...

Euromonitor International Ltd.

Structural and Cyclical Drivers Underpin Semiconductor Outperformance

The secular overweight since 2012 to semiconductor growth themes including sensor, parallel processing and communication chip stocks has...

Sean Maher

China Mobile Gaming and SUV Booms Sustained, US Credit Cycle Turning?

A key theme is that China’s next shock for the global economy will be the rising competitiveness of its consumer brands, which can squeeze Western...

Sean Maher

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