More OPEC jawboning and continued (modest) draws in crude inventories beat production increases and SPR sales headlines heading into tonight's API data and with inventory drawdowns across the entire crude complex sending both WTI & RBOB prices jumped higher. However, prices quickly reversed lower as traders realized the Crude draw was smaller than expected...
API
Submitted by Daniel Drew via Dark-Bid.com,
Under normal circumstances, we would say it is strange, if ironic, that the same day the S&P is trading just shy of an all time high 2,400 again, Goldman comes out with a note warning that "global growth momentum appears to be slowing. The ISM has likely peaked, and the US labor market has tightened further.
A Greek drama rarely ends after just one act or scene and although the recent new bailout talks haven’t really been extensively covered by the media, the Greek population will once again have to make sacrifices to make sure the country gets more bailout money.
Via StockBoardAsset.com,
It’s no secret that Under Armour’s stock has crashed -65% since 4Q2015. The apparel bubble seems to be experiencing something called mean reversion with the possibility of further downside in excess of -29%.
At or around today’s fair market value, industry comps show <UA> at a startling 43.7 P/E on expectations of growth compared to competitors.
Under Armour’s declining margins and profitability over the past three years is alarming.