Top Stories
It has been a good week for the bulls. A lack of negative catalysts, softer inflationary readings than expected, and a solid start to earnings season have resulted in the best week in several months. We will be breaking down the technicals and major storylines in the Tackle Trading Newsletter released today and have more analysis in the Trading Justice podcast this weekend. Be sure to check those out to stay on top of a very interesting time in the market!
Stocks in the News
- Schlumberger (SLB): Reported Q4 EPS of $0.92 ($0.90), beating expectations by 2.22%, with revenue of $9.28 billion, up 3.27% YoY. The company increased its quarterly dividend by 3.6% and announced a $2.3 billion accelerated share repurchase program, with plans to return at least $4 billion to shareholders in 2025. SLB also highlighted new AI partnerships with Nvidia, AWS, and Aramco.
- Truist Financial (TFC): Reported Q4 EPS of $0.91 ($0.87), beating expectations by 4.60%, with revenue of $7.65 billion, down 9.17% YoY. Investment banking and trading income surged 58.8% to $262 million, while net interest income rose nearly 2% to $3.64 billion. Truist projects adjusted revenue growth of 3%–3.5% for fiscal 2025.
- Fastenal (FAST): Reported Q4 EPS of $0.46 ($0.48), missing expectations by 4.17%, with revenue of $1.82 billion, up 3.75% YoY. The company cited decreased demand for industrial safety products and a slowdown in the construction sector as key factors. Sales of fasteners declined to 29.9% of total sales from 31.1% the previous year.
Economic Reports
There were no major economic reports. Economic news will take a back seat in the coming weeks as earnings season takes over.
Next 24 Hours
The market will be closed on Monday to celebrate Martin Luther King Jr. Day. When the market reopens on Tuesday earnings season will be in full gear and the market will be digesting the executive orders that will be issued after President Trump takes office. We have a full slate of programming coming up with the Tackle Trading Newsletter released later today and the Trading Justice podcast this weekend.
Have a fantastic weekend Tackle Trading!
Equal Weighted S&P 500 (RSP)
Your average stock in the market has had a stellar week. RSP has broken out of its consolidation pattern and attempting liftoff. Be sure to check out Matt’s analysis this weekend in the Newsletter!
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