Tag: caution

Paychex Paints Technical Picture That Merits Caution

In his first Executive Decision segment of “Mad Money” Tuesday, host  Jim Cramer spoke with Marty Mucci, president and CEO of payroll processor Paychex Inc. (PAYX) , for a read on the economy and its recovery.

Mucci said about 80% of small businesses are nearing the end of their stimulus benefits, but many are also reinventing themselves to survive in a Covid-19 world. Paychex is seeing strong job growth in the South and in Florida, with both residential and commercial construction improving.

Mucci also noted that new business formation has increased by 20% over last year, which is an encouraging sign as many of these new businesses are outsourcing their payroll and human resources needs. 

 

Let’s check (no pun intended) on the charts and indicators. 

 

In this daily bar chart of PAYX, below, we can see that prices indeed made a large outside day and lower close on Tuesday. This

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Va. Tech football approaching opener with caution amid pandemic

“We’re all living in a test-by-test world now,” Fuente said Monday during a Zoom call with reporters. “So we’ll see as they come. Hopefully everything works out fine. I’m not trying to raise alarm, but I’m also not trying to — I’m just being honest with the situation we’re in.

“I mean we’re just trying to make it to each day to see where it’s at, and hopefully we’re on the right side of where this thing’s trending.”

With the No. 20 Hokies preparing for their season opener set for 8 p.m. Saturday against North Carolina State at Lane Stadium, Fuente spent a portion of this week awaiting virus test results for his players and staff.

The last of three tests per week as mandated for all ACC schools comes Friday, at which time Fuente will be able to determine his starters with at least some degree of certainty.

Still,

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Global shares fall as caution sets in after Wall St retreat

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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 24, 2020. Asian shares were mostly lower Thursday as caution again after a retreat on Wall Street driven by a decline in technology shares.

AP

Global shares were lower Thursday as caution set in after a retreat on Wall Street driven by a decline in technology shares.

France’s CAC 40 fell nearly 0.7% in early trading to 4,770.81. Germany’s DAX dipped 0.5% to 12,585.12. Britain’s FTSE 100 shed 0.7% to 5,857.35. U.S. shares looked set to drift lower, with Dow futures falling 0.2% to 26,633. S&P 500 futures slipped 0.2% to 3,224.88.

Market players are feeling less optimistic about action from the U.S. Federal Reserve and Congress to help the U.S. economy amid the distractions of the presidential election and the battle over the Supreme

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Snowflake’s Extraordinary Post-IPO Valuation Warrants Some Caution

Following its massive first-day gains, Snowflake  (SNOW) – Get Report sports a truly epic valuation — even by the current standards of high-growth software and cloud services firms.

After pricing its 28 million-share IPO at $120 — well above an initial range of $75 to $85 — Snowflake, the provider of a popular cloud data warehousing platform, opened at $245 and soared as high as $319.

Shares have since cooled off a bit and are trading at $269 as of the time of this article. But that’s still good for a 124% first-day pop.

At $269, Snowflake is worth more than $96 billion after accounting for outstanding stock options, restricted stock units (RSU) and warrants. After backing out the roughly $4.5 billion in cash Snowflake possesses following its IPO and share sales to Berkshire Hathaway  (BRK.A) – Get Report and Salesforce.com  (CRM) – Get

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3 TSX Tech Stocks to Handle With Caution

Growth stocks are coming in for a bashing, as the market stumbled into September. It’s been a glum end to the summer, bringing a veritable bloodbath of red ink. Some pundits have been quick to call the selloff, which began as a limited tech stock correction, a market crash. But while we’re not quite at March levels of fear, the sentiment in the markets has undeniably shifted, as we head into the new season.



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Summer’s tech stock trends turn toxic

Facedrive aims to provide a ride-hailing service based on an environmentally friendly fleet. It’s a cute idea and has seen a lot of investor interest. But its momentum — in both directions — is becoming increasingly dangerous. Up by around 650% this year, the name has pulled back sharply of late. Facedrive has ditched about 25% in the last four weeks.

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$718 million options unwind signals more caution on tech stocks

NEW YORK (Reuters) – A large options player unwound bets on several technology-related companies on Thursday, offering another sign of the market’s recently diminished appetite for shares in the sector.

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

The unidentified investor took off around $718 million of notional value in bullish options spreads known as risk reversals in Facebook Inc, Netflix Inc and Adobe Inc, according to a Reuters analysis based on data from Susquehanna Financial Group. The investor partially closed a similar position in Saleforce.com Inc on Tuesday.

The trades were structured differently than positions widely attributed to SoftBank Group Corp, whose big bets on equity derivatives tied to tech firms came to light last week.

Thursday’s unwinds were partial, and the positions still have a notional value of around $1.66 billion, the analysis

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