Dow dropped 245, decliners over advancers 2-1 & NAZ fell 65. The MLP indez was off 1+ to 179 & the REIT index stayed close to 430 (record territory). Junk bond funds were mixed & Treasuries inched higher in price. Oil was off 1+ to the 63s & gold went up 2 to 1770.
AMJ (Alerian MLP index tracking fund)
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McDonald's (MCD), a Dow stock & Dividend Aristocrat, reported $5.1B in sales for Q1, up 9% from last year. Same-store sales jumped 13.6%, up from 2020, while global same-store sales increased
7.5%. "We're
maximizing our marketing in a culturally relevant way, committed to
great-tasting customer favorites on our core menu and doubling down on
digital, delivery and drive-thru to create a faster and easier customer
experience," CEO Chris Kempczinskisaid. A part of that seems to be from the hype surrounding the chicken
sandwich. MCD released its new iteration of the crispy sandwich
in Feb made with a chicken filet, pickles & spicy pepper sauce
served on a potato bun, giving customers the option to order it crispy,
spicy or deluxe. The crispy chicken sandwich has been a fast-food phenomenon. The stock lost 25¢.
If you would like to learn more about MCD, click on this link:
club.ino.com/trend/analysis/stock/MCD?a_aid=CD3289&a_bid=6ae5b6f7
McDonald's sees sales boost from chicken sandwich amid COVID-19 rebound
Exxon (XOM), a Dow stock & Dividend Aristocrat, returned to profitability during Q1, beating top &
bottom-line estimates, as the company recovers from the
havoc wreaked on the energy sector by the coronavirus pandemic. The
oil giant posted EPS of 65¢, excluding items on $59.2B in
revenue. The forecast was for EPS of 59¢, on $54.6B in revenue. In Q1 a year earlier, the company lost $610M as the
impact of the coronavirus began to weigh. Last qtr, the company
posted a $20B loss, its 4th straight qtr of losses. “The strong first quarter results reflect the benefits of higher
commodity prices and our focus on structural cost reductions, while
prioritizing investments in assets with a low cost of supply,” CEO Darren Woods said. “Cash flow from operating activities during the quarter fully covered the dividend and capital investments.” Its
oil-equivalent production rose 3% qtr-over-qtr to 3.8M
barrels per day. The company said the winter storm that hammered the
South cost the company $600M across its businesses. The stock fell 1.11.
If you would like to learn more about XOM, click on this link:
club.ino.com/trend/analysis/stock/XOM?a_aid=CD3289&a_bid=6ae5b6f7
Exxon posts a profit, snapping four-quarter loss stre
After months of a steady climb in vaccinations, the US is
experiencing its first true slowdown in the rate of daily shots, an
indication that the nation is entering a new phase of its inoculation
campaign. More than ½ of American adults have now received at
least one dose, a significant achievement, but getting the 2nd ½
vaccinated brings a different set of challenges than the first.
Vaccinations to date are likely made up largely of groups who most
wanted the vaccine & have had greatest access to it, & continued
progress is no longer about meeting demand for shots. “We’ve
gotten vaccinations to those most at risk and those most eager to get
vaccinated as quickly as possible,” White House Covid czar Jeff Zients said, “and we will continue those efforts, but we
know reaching other populations will take time and focus.” The
country is averaging 2.6M reported vaccinations per day over the
past week, Centers for Disease Control & Prevention data shows, down
from a peak of 3.4M reported shots per day on Apr 13. That
number is trending downward even with eligibility now open to all adults
in every state.
The threat of higher taxes on capital gains is beginning to sink in on investors. Earnings are coming in fairly good. The depression in oils is correcting with higher oil prices. The Dow is up 900 in Apr & close to record territory, not bad to bad all considered.
Dow Jones Industrials
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