Russell 1,000 Weekly Recap 08-28-2020

Focus List
September 15, 2020
Recaps

Russell 1,000 Weekly Recap 8/24 - 8/28/2020 (+3.27%)

Brain Sentiment

The top 3 Russell 1 names with the largest 7:30-day scored news activity, a measure designed to capture recent surges in sentiment scored stories, are Hain Celestial (HAIN), Synovus (SNV) and PNC Financial Services Group (PNC).

  • After missing the Estimize consensus in 8 of the last 10 earnings releases, HAIN beat Estimize by $0.05 (and Wall Street by $0.04) on 8/25/2020. The 3-day post-earnings drift return during this time when beating Estimize (2 occurrences)is +8.79% vs. +3.57% when beating the Street over the same period (5 occurrences).
  • SNV and PNC have remarkably similar price and sentiment charts coupled with a significant uptick in related news stories.
Synovus (SNV) and PNC Financial Services Group (PNC) News Sentiment Price Overlay
SNV and PNC Combined 7 and 30-Day News Activity Volume

Digital Realty Trust (DLR), Dick’s Sporting Goods (DKS), and Virtu Financial (VIRT) led Russell 1,000 names in positive 7-day sentiment scores with at least 25 stories. Conversely, American Electronic Power (AEP), Consolidated Edison (ED), and Pilgrim’s Pride (PPC) recorded the most negative 7-day sentiment scores.

Estimize Earnings

  • Toll Brothers (TOL) beat Wall Street Estimates by $0.21 8/25/2020but missed the Estimize consensus by $0.01. TOL is down 6.71% since the earnings release.
  • Marvell Technology Group (MRVL) beat Wall Street by $0.01 but missed the Estimize consensus by $0.02 8/27/2020. Since 2018 MRVL has a 5-day post-earnings drift return of +6.06% when beating Estimize (8 occurrences) vs. a-0.49% return when missing the Estimize consensus (5 occurrences).
Marvell Technology Group (MRVL) Post-Earnings Drift Return

Performance

  • Transports and Consumer sectors finished August with the strongest 1-month returns (+13% and +12%) while Utilities and Health Tech were the only 2 sectors with negative 1-month returns (-02% and -01%).
  • 31 Russell 1 stocks hit new highs on Friday (WDAY, PTON ,DELL, FCX, NVDA, SCCO, EL, MA, WMT, ISRG, Z, YUMC, ZG, V, PTC, QCOM, CMG, FDX, AVGO, EXPD, CTAS, TNDM, TXN, ANSS, IAA, BKI, BF.B, A, CAN, EW, COST). There were no new lows.
  • 14 stocks moved up through their 200-day moving average (NTNX, ULTA, DRI, MSGE, TJX, FTDR, ST, AXS, AXTA, ALLY, GPN, CBT, MSI, IT) and 1 moved down through its 200-day moving average (VMC).
  • Russell 1,000 Flash Report
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