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Trade Idea of the Day Presented by: The Fly

Nvidia price target raised to $230 from $180 at Jefferies

Jefferies analyst Mark Lipacis raised his price target for Nvidia shares to $230, which reflects a 29 times multiple to his three-year earnings per share estimate of $8.00. The chipmaker closed Friday down 90c to $196.60. Field work indicates Nvidia... Read More

Chicago Fed "Index Points to a Pickup in Economic Growth in September"

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) moved up to +0.17 in September from –0.37 in August. All four broad categories of indicators that make up the index increased from August, and three of the four categories made positive contributions to the index in September. The index’s three-month moving average, CFNAI-MA3, was unchanged at –0.16 in September. This graph shows the Chicago Fed National Activity Index (three month moving average) since 1967. This suggests economic activity was close to the historical trend in September (using the three-month average)...

Lessons On Anniversary Of 1987 Crash Including Gold’s 24% Gain In 1987

– Next Wall Street Crash looms? Lessons on anniversary of crash – 30 years since stock market ‘Black Monday’ crash of 1987 – Dow Jones Industrial Average fell 22.6% on October 19, 1987 – S&P 500, FTSE and DAX fell 20%, 11% & 9% respectively – Gold rose 24.5% in 1987 (see chart), acting as safe haven – Prior to crash, stocks hit successive record highs despite imbalances – Imbalances that lead to 1987 crash are much worse today Last week markets wobbled somewhat on the 30th anniversary of Black Monday with a 2017 version of an iffy day’s trading. The S&P 500 posted it’s biggest post-midnight drop...

Exactech to be acquired by TPG Capital for $42 per share in cash

Exactech announced that it has entered into a definitive merger agreement under which TPG Capital, the global private equity platform of alternative asset firm TPG, will acquire all of the outstanding shares of Exactech common stock. Exactech's board of directors approved the agreement which provides for the payment of $42.00 per share in cash to all holders of Exactech common stock other than certain management stockholders who have agreed to exchange a portion of their shares for new equity securities in the transaction. Exactech founders Dr. Bill Petty and Betty Petty and CEO David Petty have agreed with TPG...

Catch up on the weekend's top five stories with this list compiled by The Fly:

1. Tesla has reached an agreement with Shanghai government to set up a manufacturing facility in the city, according to The Wall Street Journal, citing people familiar with the matter. The arrangement could enable the electric carmaker to slash production costs, but without a local partner likely will not negate China's 25% import tax, the publication added. 2. Republican Senate Leader Mitch McConnell has said he was willing to bring a healthcare bill up to vote, but was waiting to see what President Donald Trump wants to do, after he sent mixed signals regarding the bipartisan effort, according to Reuters. Publicly traded companies in the space include Aetna (AET), Anthem (ANTM), Centene...

Global Housing Affordability: NYC Far From The Worst

Average monthly take-home pay won't cover the cost of buying a 1,000-square-foot residence or renting a three-bedroom home in any of the 105 metropolitan areas ranked by the Bloomberg Global City Housing Affordability Index -- based on a general rule of thumb among U.S. lenders that people should spend no more than 28 percent of net income on housing costs. Only 12 cities would be considered affordable if they spend 50 percent. Residents face many obstacles, including urban land-use regulations, underdeveloped...

Hotel Occupancy Rate increases YoY, Just behind Record Year

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 8-14 October 2017, according to data from STR. In comparison with the week of 9-15 October 2016, the industry recorded the following: • Occupancy: +2.4% to 72.3% • Average daily rate (ADR): +5.3% to US$130.83 • Revenue per available room (RevPAR): +7.8% to US$94.58 STR analysts note that U.S. performance growth was lifted due to a comparison with a Jewish holiday time period last year. Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year...

Zimbabwe Panic Sends Bitcoin Soaring Over $6000 - Now Bigger Than Goldman Sachs

Cryptocurrencies are broadly higher this morning with Bitcoin leading the way to new record highs at $6000 - nearing $100 Billion market cap, bigger than Goldman Sachs - as demand from Zimbabwe soars (and Spanish concerns see activity rise). Most of the biggest cryptos are higher... But Bitcoin is leading - now above $6000 for the first time ever... And is now 'bigger' than Goldman Sachs... As CryptoCoinsNews reports, Zimbabweans are attempt to escape yet another currency debacle... According to...

NAR: "Existing-Home Sales Inch 0.7 Percent Higher in September"

After three straight monthly declines, existing-home sales slightly reversed course in September, but ongoing supply shortages and recent hurricanes muted overall activity and caused sales to fall back on an annual basis, according to the National Association of Realtors®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 0.7 percent to a seasonally adjusted annual rate of 5.39 million in September from 5.35 million in August...

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