Market Overview
The following is a partial recap of the market analysis shared during today’s morning Discord call.
Yesterday, the U.S. market had a rough start, with the tech sector down 3% at one point. But it moved up slightly during and since then has been holding. Since the FOMC report last Wednesday, it seems like we’re entering another no-man’s land period in the American market, as we’ve seen every move to the upside getting sold off, which could make it safer to wait while the market consolidates and reveals its direction. For now, it seems like the market is consolidating, and whether it goes up or down afterwards is up in the air.
Going into the day, we expect a quiet day, but recommend keeping an eye on the U.S. Dollar, the metal space, as well as the software and memory sectors of the tech space.
Memory Stocks
Memory stocks had a rough day, with the likes of SanDisk (SNDK) and Seagate (STX) seeing significant drops. Currently, all eyes are on Micron (MU), as its after-hours earnings today will play an important role in the sector’s direction in the near future.
Local Stocks
Telkom (TKG)
Telkom received a massive 28% upgrade from HSBC, with the new target price set at R82.0. It’s important to note that Telkom will also go ex-div during the day; however, we believe that it will perform well regardless due to the upgrade.
Vodacom (VOD)
Vodacom was also upgraded to buy by HSBC, with a new target price of R185.0, which is an increase of 22%. On a side note, it can be interesting to keep an eye on MTN (MTN) and see if it goes up in tandem with Telkom and Vodacom, or it’s left behind.
British American Tobacco (BTI) & Anheuser-Busch (ANH)
British American and Anheuser-Busch are two of the old reliable safety stocks. If you took a long on them yesterday, today might just be the time to take some profits.
Left: British American Tobacco (BTI), right: Anheuser-Busch (ANH)
Earnings, Ex-Dividends & Economic Data
After-Market Earnings
Micron Technologies (MU)
Micron is the largest memory company in the U.S., with some activity in semiconductor manufacturing. Their earnings can be a catalyst for the immediate future of memory stocks as a whole.
Ex-Dividends
The following stocks will go Ex-div today.
| Stock | Price | Dividend | Ex-Div Price | Change |
| BTN | R 9.78 | R 0.48 | R 9.30 | -4.91% |
| FTA | R 20.00 | R 0.71 | R 19.29 | -3.55% |
| FTB | R 7.63 | R 0.25 | R 7.38 | -3.28% |
| OCE | R 68.00 | R 1.10 | R 66.90 | -1.62% |
| PPC | R 8.19 | R 0.30 | R 7.89 | -3.66% |
| QFH | R 10.89 | R 0.22 | R 10.67 | -2.02% |
| RLO | R 60.13 | R 0.90 | R 59.23 | -1.50% |
| SYG | R 34.00 | R 1.22 | R 32.78 | -3.59% |
| TKG | R 59.40 | R 2.70 | R 56.70 | -4.55% |
| ENX | R 4.60 | R 1.92 | R 2.68 | -41.74% |
Economic Data
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