Video

#SaxoStrats
Today's edition of the Saxo Morning Call features the SaxoStrats team discussing the continuing weakness of the US dollar as commodity prices recover ground and in the wake of key US equity indices hitting all-time highs Thursday.
Short term
Trade view / 20 April 2016 at 7:16 GMT

#SaxoStrats. UPDATE: Intel trade off to a good start

Head of Equity Strategy / Saxo Bank
Denmark
Price target:
Market price:
 

Yesterday we published a negative view on Intel ahead of Q1 earnings expressed through the May 20 P31.5 option with a buy limit at $0.93.
Our order was filled with the session low at $0.91 - so a very good entry. The option closed at $1.04 before the close.
Intel’s Q1 earnings release was okay on headline numbers with…

 
• EPS adj. $0.54 vs $0.49 and revenue in line
• CFO succession plan
• Company cuts 11% of employees (12,000) – highlighting the depressing outlook for the shrinking PC market
• Shares traded at $30.95 in aft-mkt trading vs. close at $31.60
We will evaluate today whether to capture the profits today or extend the position…


chart
Source: Bloomberg, Saxo Bank 


— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more

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